Help? Quick? Please? :) Buyers Agent Fee?

Question

Hi all, I emailed someone about a property, and they sent back an email saying to make them an offer. I Let them know I was a wholesaler, have access to cash buyers for a small fee. And I asked for the lockbox info. for my cash buyers to take a look at the property! They replied that there is a $500 buyers agent fee.  What??  This is literally my very first contact with someone.. and I have no idea what they are telling me! Is this the highest they are willing to pay??

Matt Devincenzo · Answer

Nichole Gabriel just be sure you get it under contract. If it's not under contract to you then you are practicing RE without a license which would be where you get a fee from.

I would respond to them that you would be going under contract and since you are not an agent would not be legally entitled to the $500 fee and that your buyer would cover your expenses. They will probably not really have any idea what you just said but 2 key things just happened, you disclosed your intentions which insulates you from the unlicensed RE possibility, and you may have earned some good will with the seller because to them that $500 will be a savings and that is to their benefit.

Nichole Gabriel · Answer

Ok @Brian P. , I've got it!  VERY good point! Thank you for that advice, I'll change that strategy!

Brian P. · Answer

You may have misunderstood. They may be offering a $500 buyers agent fee. Which of course you can't accept because you not an agent. But they just lowered the price $500 which you can accept.

First thing I would change is telling them your a wholesaler and have access to buyers for a small fee. Your starting to sound to much like an agent.

You buy and sell properties and also work with potential partners. And you would like to find out about what they are are selling, could you please tell me about the property? I don't care if the property is next door and you know all about it, just get them talking and relaxed somewhat and gather the facts.

Nichole Gabriel · Answer

Oh!  Excellent and so helpful Matt Devincenzo!  Thank you!  Thank you!

Nichole Gabriel · Answer

ahhh!  Ok!  :)

Wayne Brooks · Answer

that's what they're willing to pay, laughable.  You don't care, your fee will come from the buyer.

Help? Quick? Please? :) Buyers Agent Fee?

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