All Forum Posts by: Michael Kim

Thanks everyone for the advice! I responded saying that I don't feel comfortable signing her as my agent and will continue to represent myself unless the seller counters, after which I will seek an agent of my own choosing. If we are able to close while I continue to represent myself, then the seller's agent can keep the whole commission. 

This is for an out-of-state investment property, btw. California is a bit crazy in terms of investment properties, and I'm primarily looking for cash flow. Thank you to everyone who responded and reached out, everyone's response was fascinating to read.

Thanks everyone. The seller has countered, but I'm sticking firm with my initial offer. Should I retain an agent at this point?

Like the subject says, I made a cash offer on a SFH home to the seller's agent. She just sent me an e-mail saying that she wants me to sign something that says she will be representing me as a buyer's agent as well, effectively becoming a dual agent. She's tried hard to get me to increase my price as much as possible, which tells me that she's working as a seller's agent.

First question: Is it a good idea to ask her I don't want her to be my agent? I'd rather her not represent me so I can figure out how to purchase properties on my own, and I made the offer on my own and would like to review the contract with a real estate lawyer. It feels a bit disingenuous for her to act as my agent and then tell me that I need to increase my offer to match the seller's asking price.

Second question: Do I have any leverage in this case? Otherwise, will she just become my agent by default?

Third question: If she becomes my agent, is there anything extra I have to pay in terms of fees? I'm aware of the standard 3% commission for each buyer agent and seller agent, and I know if she becomes my agent then she will basically get the whole 6%. And if she doesn't become my agent, she will have control to keep or rebate the 6% commission as she sees fit.

Sorry for all the questions!

Hi everyone

My first time posting! I live in the SF Bay Area and would like to get into real estate investing for cash flow, and am targeting Indianapolis. That's where I'm from so I'm familiar with the area. 

I found an investor who has 3 properties and is wanting $60k for them each. I offered $50k cash for all the properties, contingent upon bank statements, lease agreements, maintenance history. Seems like the homes are already cash flowing at $750 per month each. I haven't heard back from the seller or broker yet. 

Questions: I'm not being represented by anyone, should I look for an agent who can represent me in these dealings?