Negotiating Lower Real Estate Commissions
Make Money With real estate
Well, 2009 may be a good year to help you make money with real estate, or lay the ground work for you to do so. Now times are really bad and lots of people have lost their jobs in 2008, especially at the ending period of the year. So this is going to get worse in 2009 because as savings run out, more and more people are going to get into trouble with the banks for not being able to service their loans.
I reckon that when that happens, lots of people are going to do a lot of financial fire fighting. They’ll be selling their cars, houses, watches, and even their jewelries. But what can be done? Survival is the priority isn’t it?
When that happens, you can see a lot of nice houses and apartments for sale. When it really gets bad, people need liquid asset. So selling prices for property is going to plummet lower and lower within the year. This is the time for the few people who are cash rich, to jump out and save the day!
So you say, what about people with no additional capital? These opportunities are only for the ones with extra money to invest isn’t it? WRONG! The good news is, what I’m about to share with you, will work, regardless of whether you have money or not. So listen up and pay attention.
Firstly, you want to hunt for urgent sale. Why urgent sale? This is because, the person who is selling off their property urgently, has a need for instant cash! I believe these will be plenty in 2009. Now, if you don’t have the money to buy, don’t panic. Just get the details of the property, then find out whether it is a good investment or not. Get the fair market value, and remember to bargain low for it. Urgent buyers will sell on emotion and won’t have time to stall you as they need the cash.
When you have the details of the whole deal captured in black and white, go hunt for investors who have extra cash. Some of them might actually be too lazy to go bargain hunt, so they would gladly partner with you by being the investor, and you being the deal hunter.
How do you find such deals? Well, you just search for them as though you are going to buy the house for yourself. Look for signs of urgency. Divorces, family squabble, urgent sale for debt payment, auctions and so on so forth. Remember; always know the fair market value of the property before you go into any negotiations. Casually do counter checks with various real estate agents, what they would be willing to pay for that piece of property you have found. If they don’t seem to be eager for the price you propose, then you haven’t negotiated well enough. You want to make money with real estate and the only way to do so is to buy very low and sell at market price or higher. In cases of divorces, you may sometimes be lucky enough to find properties being thrown away at half price. These deals are not fairy tales and they are really out there for grabs.
So who can you approach pay for the property if you don’t have the extra money to invest? Perhaps ex-employers who have good relationships with you? Maybe make some proposals to a few friends who have extra cash for investments, relatives and so on. Don’t be shy. If you have something that helps them to make money, then you are actually doing them a favor. Remember to work out a commission deal with them to make it worthwhile for the both of you.
The only thing that will really help you to make money with real estate isn’t just the method mentioned above but to get off your chair and start looking! Knowing something will not make you money, doing it will!
About the Author
For more of these can be found in my blog http://www.dpinterworld.com/blog/ Where I’ll bless my visitors with long term business prosperity. No Joke!
When selling your home or business through a real estate broker should you try to negotiate the commission?
I am selling my hair salon first then plan to sell my home as I am getting married and moving to the US from Canada. When I chose a broker and he sent me a copy of the listing agreement, he wants me to initial saying that he has exclusive rights (vs. Multiple Listing) for one year. Also, when we discussed it initially, I told him the price I wanted to start at, he verbally suggested a lower price, and has already written his price suggestion on the listing agreement which I have not yet signed. I’ve since gone on his website and see my property already listed at his price. History: I had him appraise the business about a year ago (because someone was interested in buying it and they suggested him as the appraiser and I agreed) and the potential buyer decided not to purchase at the appraised value. If I were to list at the price the realtor is suggesting, I wouldn’t get the appraised value after his commission. What should I do?
Time to find a new Realtor. He has already broken the law by marketing your house before being given the right to do so. You need to remember you are the boss and shouldn’t feel bullied into things. I suggest you interview a couple of other Realtors to get their marketing plans and opinions of the value of your real estate assets (with information to back it up). You can always try to negotiate commissions, but you also need to remember that Realtors are professionals and might not be willing to take a cut in pay just as you might not do their hair for less than you usually do.
FYI, an exclusive right to sell agreement is NOT “vs Multiple Listing”. Instead it is an agreement saying that only one Realtor can market your property and protects the listing agent when he puts it on the MLS making it available to all other Realtors (representing buyers)
Citimortgage Negotiating Lower Rates and Fees From Citimortgage
|
|
Negotiating Commercial Real Estate Leases $14.96 This book is in New – Excellent condition |
|
|
Tips & Traps for Negotiating Real Estate, Third Edition $12.43 No Synopsis Available |
|
|
Tips & Traps When Negotiating Real Estate $21 This book is in New – Excellent condition |
|
|
Weekend Millionaire Secrets to Negotiating Real Estate $14.21 This book is in New – Excellent condition |
|
|
Tips and Traps When Negotiating Real Estate $12.71 This book is in New – Excellent condition |
|
|
Real Estate 3.0: Using the Internet to Sell Your Home and Stop Paying Commissions to an Obsolete Real Estate Agents! $7.74 No Synopsis Available |
|
|
The Complete Guide to Locating, Negotiating, and Buying Real Estate Foreclosures $18.71 This book is in New – Excellent condition |
|
|
Basic Real Estate Report $39.95 Basic Real Estate Report |
|
|
Comprehensive Real Estate Report $24.95 Comprehensive Real Estate Report |
|
|
Real Estate Billboard $14.99 Real Estate Billboard – Premium Poster |
|
|
Real Estate Contract $29.99 Real Estate Contract – Photographic Print |
|
|
USSearch Real Estate – 5 Pack $11.95 USSearch Real Estate – 5 Pack |
|
|
About Real Estate $47.99 Huguette Declercq About Real Estate – Art Print |
|
|
Buying Commissions $39.99 Buying Commissions – Giclee Print |
|
|
Real Estate Agent in Office with Others $19.99 Real Estate Agent in Office with Others – Premium Poster |
|
|
Close-Up of Real Estate Sign $79.99 Ed Clark Close-Up of Real Estate Sign – Photographic Print |
|
|
Real estate Cap by CafePress $17 Real Estate Guru carries a variety of interesting real estate related products. Real estate Cap . Our adjustable, 100% brushed cotton Cap is unstructured and an ideal way to beat the heat. Wear it anytime you want to keep the sun off or cover up a bad hair day. It features a sturdy low profile brim, sweatband, and adjustable closure, as well as Pre |
|
|
Selling the Lower East Side : Culture, Real Estate, and Resistance in New York City $30.55 No Synopsis Available |
|
|
Selling the Lower East Side: Culture, Real Estate, and Resistance in New York City $65.81 No Synopsis Available |
|
|
Real Estate $41.99 No Synopsis Available |