Home › Forums › General › EHTrust/EHT Topics and Creative Real Estate Financing › Dealing with Realtors
March 6, 2008 at 11:56 pm #4542
Ok this might be a dumb question but I can’t seem to come up with an answer on my own. If the SB has a realtor where does their commission come from if they use our trust system? When I’ve been making calls I’ve found that realtors are reluctant to give me all the information I require (i.e. existing loan, mortgage payments, etc.) which makes it a bit difficult to fill out and send a complete NEO.
I know this is probably answered in the Success Pack but I’m trying to do a deal or two to pay for it.
Thanks again for the help in advance.March 7, 2008 at 1:10 am #24851
If the Realtor is not cooperative, you might find a way to let his client know that. I once quite accidentally sent a copy of a personal letter complaining about my treatment by a Realtor(r) to a seller. And, though I have no idea how that doggoned letter made its way to the seller, it did and the Realtor was fired. [But this is not advice, and it did not from my lilly white and kissable little lips: as it would be beneath my dignity to ever suggest doing such a thing]
Next, realize that there are some no-no’s in our business that you apparently are unaware of.
First off, don’t ever work with Realtors! Those who are not dumb are all here on the discussion board…and half of those are drunk (Moyes, Pasquini and Mialoq are good examples).
Secondly, don’t work with Realtors who are not familiar with our programs. They know more than you and I ever will about everything, and they will shoot their own toes off to prove it.
Thirdly, if a seller can’t pay a Realtor’s commission, then the buyer can pay it.
If the buyer can’t pay it, then the seller and the buyer can split it.
If there is no money at all to work with, then you’ve had your proboscis in the wrong Petunia (ie., …had your hose in the wrong garden…had your noodle in the wrong soup…had your needle in the wrong haystack…had your cheese on the wrong nacho…)
If the seller is broke, you need a buyer who isn’t. If the buyer is broke, you need a seller who isn’t. If both are broke…don’t introduce them to each other for crying out loud!!
A Realtor(r) can take his/her commission later; he/she can carry the commission monthly; they can take their commission at the end of the transaction term; they can become a co-beneficiary in the trust for a percentage of the profit due upon sale of the property; they can take a motorcycle, a boat, a car, a mobile home or the family jewels for their commission (either s secuirty for a promissory note, or to keep for themselves).
If none of these options appear satisfactory to the Realtor(r), well then… ##$%^$% him! As the expression goes: There are just too many Pot-Bellied Pigs in Potsdam, to worry about one.
BillMarch 10, 2008 at 4:47 pm #24852
That was entertaining and helpful all at the same time. Well done Bill, and thanks.
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