All Forum Posts by: Becca Summers

When I did my very first listing I teamed up with an experienced agent. We took the listing as a discount because we where listing two homes. Then the seller canceled the second listing. I worked very hard got the property sold and made 1% after all was said and done. This seller has become a raving fan and has referred 3 transactions to me this year with a possibly of 2 more next year. I know if I wouldn't have teamed up I would have never gotten that seller.

To answer your question what I do is show my value before I talk commission. I have a listing presentation that goes over my marketing plan, best forms of communication and more. Then when we get to the paper work we talk commission. 

Honestly taking a lower commission a few times to get a few listings under your belt and giving you confidence might be the way to go.

Also if you take 5% I would still split it 50/50. In my state we also have a buyer broker saying that buyers agent gets 3% but if it's not offered by the listing agent the buyers agent misses out, but maybe that's because people are cheap where I'm from.

I wouldn't call them investor friendly but the only lender I know of that would do a HELOC for more than 80% of the value is Mountain America Credit Union will do a 90% loan to value. On the flip side they have an investor loan that will loan 90% of the purchase price to non owner financing. My favorite loan office is Brett Valinga.

My guess is $11,500 is 10% of $115,000 so that would be if you sold the property with a Realtor after renovations it would work out to 6% to buying and listing agents, 1% to a title company and 3% to help the buyer with their loan closing costs.

I would look at it from your end game. Would you buy and hold or would you use them to scale to the next property? I've read that as a tri-plex they are more valuable because there is more of a market for them being able to do Fanny and Fredi loans. If the numbers cash flow both ways I would be more inclined. Perhaps do a commercial loan so in the long run you could sell them separately giving yourself another out.

I see first timers decide an area is a good place to invest in without doing their home work. You can't pick a home just because of the price, there is a lot more that goes into it.

My though on this is that we need the rate to go up a little to slow down the price of homes. We've had crazy appreciation growth since the bottom of the market and I'm hoping to see the appreciation slow to keep the housing market stable. 

@Richard Munford welcome to BP, It's fun to have new members so close. I'm in American Fork but my office is in Orem.  Feel free to message me if you have any local market questions I love to help.

That is very interesting!

The only problem I would see is if the economy changes and the second home market stops building. When money gets tight the second home markets get hit first. 

I only advertise on KSL and have those interest fill out the application on there. It makes sure I cover my bases with each potential tenant. I agree with getting great pictures. Last time around instead of the front of the house I posted the awesome backyard with grill, fireplace and counter. I got tons of calls and a great renter.