All Forum Posts by: Braden C.

There are so many advantages to having a license, I don't understand why anyone wouldn't want to have it. Get the license and then simply disclose to the seller that you're a licensed real estate agent and you aren't representing them in the transaction. 

The related costs of getting the license and your local/national dues can be paid off by doing one listing or buyer representation per year. If you do more than one, it's now even more profitable to have the license. 

I would hate the thought of constantly looking over my shoulder just waiting for the state to come down on me for being unlicensed. 

@William Brown Marc gave a good answer, the deed should be recorded at the county clerk office. In my area, we can view it online so it's a pretty quick and simple find, your area might be the same. A title company won't need the original deed as long as it was recorded. If the seller has a mortgage on the property, like you say they do, then the deed is almost certainly recorded with the county. 

If for some reason the deed was never recorded and the seller can't find it, you could always try and find the previous owner and ask them to re-sign the deed. This is done a lot of times when a corrective deed is required because of previous mistakes on an old deed. 

@Sal Merola I live on the other side of the skyway bridge in Bradenton and have done a handful of deals in south St. Pete. Around 2012 or 2013 I had multiple houses GIVEN to me for free (in fact one came from here on BP). There are some decent pockets but there's some very very rough areas. I would strongly suggest getting with an experienced agent and be very careful. 

@Cal C. I can't tell if you're still serious at this point. Are you not reading the same thread as everyone else?? The title of this thread is whether or not you should report the agent to the Board of Realtors. Here are the MANY responses (not two out of twenty) that people have given you. It's probably best to just put your shovel down and stop digging. 

From @Joe Splitrock "There is nothing to report here. The agent was ready to do the deal with you. He only called his father after you pulled out of the deal."

From  @Brian D. Beatty "I don't think you have a legitimate complaint, you backed out of the deal, over nothing that had any outcome on your side."

From @Caleb Richardson "It is not solely your responsibility to report unethical behavior, your agent could quite easily take what he knows to his broker and have his broker address it with either the local real estate association or your State Department of real estate, whatever that is in Georgia."

From @braden c "You were the only person that lost in this deal and, from the information you've provided, it sounds like everything was on the up and up." 

From @Patricia Steiner "My recommendation: let it go. Move on to your next deal. You're too good to spend one more minute of your time on people who don't have a clue. Rock on!"

From @Russell Brazil "As long as they disclosed to the seller their family relationship, which you wouldnt know if they did 

or not...its all on the up and up."

From @John Thedford "As long as the agent disclosed the familial relationship they didn't do anything wrong."

From @Bill F. "This could be a crazy idea, but maybe your agent and PM are wrong..."

From @Kyle McKnett "I don’t see where there is an ethics issue."

From @Jen Arizmendi "I don’t think this agent acted unethically."

Good. Far too many "get rich quick" guys trying to run around and tie up properties without any RE knowledge whatsoever. I wholesale probably half of my yearly deals for a variety of reasons. I also have a brokers license and the ability to close on everything I put under contract. 

What if the PM had an agreement with the seller that they would take a lower fee on the management side and in return, receive 6% commission when the property sells? It was up to the seller to negotiate THEIR expenses of the sale, not you. You were the only person that lost in this deal and, from the information you've provided, it sounds like everything was on the up and up. 

@Cal C. I am still a little confused, was the agent asking you to pay the 6% commission or the seller? 

@Joe T. This is pretty typical when you buy from a wholesaler. Depending on the situation, you might be able to get one done before signing the assignment agreement and paying your non-refundable deposit. Again, this is situational and it will depend on how much flexibility the wholesaler has with accessing the property. 

I would personally plan for the absolute worst and hope for the best. If the numbers don't work for the worst case scenario, then pass on the deal. Over time it's easier to spot things that you wouldn't normally notice as a novice investor but there's always something hidden that you're just going to miss. 

One of my favorite hobbies is competing in BBQ competitions with a couple of buddies. Our first competition was filled with ideas we got from youtube videos and blogs. These were all free and it seemed like we knew exactly what to do. We finished that competition DEAD LAST.  

Over the next 12 months we did a lot of practicing and invested in taking a class with one of the best BBQ teams in the country. We won the same competition the next year out of 30+ amateur teams. Now we compete in the professional division 5-6 times per year and do very well. 

The investment we made from a professional with years of experience was what made us a team of guessing what works to a team of knowing what works. We put in the legwork of practicing but he gave us the steps and "how-to" on what exactly works. Could we have figured it out on our own? Maybe. Would it have taken A LOT longer? Definitely. 

When I started in real estate I was working for a decent sized wholesaling company and split deals 50/50 with them. They taught me the business and in return they received 50% of each deal I did. The two years I spent there I brought in over $250k personally which means the company made $250k by educating me. That was and probably always will be the absolute best $250k I will ever spend. 

Choose your mentor/coach wisely, but don't hesitate to invest in one. 

I'd be curious to see the assignment agreement, but the $5k should be non-refundable only if you fail to close, not the other way around. I personally wouldn't just let $5k go because the wholesaler screwed up, at the very least you should do everything possible to ruin his reputation and protect future victims. He might've already spent the $5k but once you start threatening lawsuits, filing police reports, going to the state RE board, I think he'll find a way to refund you.