agency agreement trap removal, Raleigh NC Agent Team member

2 Replies

I'm an Out of state, Out of country buyer....

I buy while I am physically out of (not in) the area.  I do not insist that an agent go see any and every property and send video and pictures, etc....I make offers contingent upon inspection, and ask agent to view after the fact, after acceptance, during due diligence with pictures, video, , and protect me and verify numbers.......I even develop relationship and trust that I will relist (flip) with that agent,  and even offer bonus if agent can help verify repairs or does anything above and beyond norm in regards to contractor or rehab.

Come time to docusign purchase offer,, an agent in past has been obsessed with sneaking in an agency agreement locking me into and marrying that 1 individual into a large mileage radius in every direction and a many months time frame, for any action taken on my part to his her benefit...this is not is never fun at all..and very very stressful and distracting...and I hate this...and lose respect, ,and finally it is unnecessary and irrelevant to purchase offer at hand.

I tell the agent to make it property specific and it is met with resistance, and delay.

I ask agent can we pre-docusign an agency agreement with verbage specific to purchase contract address and still write in the address after the fact that we take action on, so cut out any paper work or excess time to make offers...i want agent to be able to make an offer in a few minutes...and i want to pre fill out any duplicate paperwork.

I am looking for an agent who has the courage to allow me make offers through him / her, agency agreement specific to that property, I ask only that it is contingent upon inspection..that agent review it and assist to inspect it...

please contact or refer or suggest an agent for Raleigh NC... (and jacksonville Fl. also)

A plus is if this agent is an investor him, her-self and has experience flipping, doing auctions...understands numbers. and even has property manager to support rehab for compensation.

oh, wait... in regards to auctions; auction property sellers dont pay agent commission right?  so why do you (the agent) want to support investors in any auctions, foreclosures, fsbo, etc, that offers no incentive?  

lets figure it out, for compensation, on the purchase end and inspection rehab support part....

i'm totally open to working out that part....and also agree to relist  with you any auction foreclosure as well.... and have a longterm duplicatable system and relationship..

@Matt Berklacy

"oh, wait... in regards to auctions; auction property sellers dont pay agent commission right? so why do you (the agent) want to support investors in any auctions, foreclosures, fsbo, etc, that offers no incentive?"

In regards to that section if they have an agreement with you then you would pay the commission on those that the seller does not. Think on a FSBO that isn't paying a commission, if the agent gets a 100K house to you for 65K would you pay a 3% commission on it?

As far as agency make sure you read it properly. If it is "Exclusive" that means you only use them for any properties (I don't use these often). The other is just an agency that if I bring you something you will pay the commission if the seller does not. That would do with the situation above. If I find you an auction property/foreclosure/FSBO/REO for pennies on the dollar will you pay me commission? If not, I won't send it over. So make sure you read the verbiage of it and see what it is saying.

Good Luck!

Regarding brokers who won't fill in their form to your liking... that's easy. If it is that important, just say it is non-negotiable and if they persist then don't use them.

If I am reading the rest of your post correctly, you are looking for brokers to represent you in 'off-market' deals, e.g. "any auctions, foreclosures, fsbo, etc." Effectively, you are looking for a buyer's broker. In Wake county, it is more (much more) common to see attorney representation in trustee sales. Have you considered using an attorney firm? The firms will send a paralegal to act on your bid instructions. I have seen such setups and have bid against them.

My comments above (using an attorney and/or buyer's broker) assume that you have done up-front due diligence (since there is no inspection) and you have pre-funded (opened escrow) your maximum bid with the firm. Expecting that someone will do more than just the mechanics of your courthouse bids or submitting offers will require a lot more than a paralegal or buyer's broker.

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