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Carlton Sheets, Beginners, Courses, Gurus, General Forum
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how can I make money on this deal?
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Topic: how can I make money on this deal? (Read 719 times)
ericthelight
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how can I make money on this deal?
«
on:
July 26, 2006, 11:16:12 PM »
my Grandma has very old house that is on a valuable peice of wisconsin land, it is in Green Lake, becoming the next Lake Geneva, my parents have a contract with a brokerage firm that says they get 5%. I want to help sell the property and make a commission. How can I get an agreement with the local broker that says if I find the buyer, I get 2.5%
Also, I think with my sales skills, I can sell it for more than they have it listed for on the MLS.
I am confident I can find a buyer, we need to sell the house quick and I don't want my Grandma's financial state to be in control of a non-motivated brokerage. I want to help, but also make a nice chunk of change off the deal. Anyone want to help me or lead me in the right direction?
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blueboxer
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Re:how can I make money on this deal?
«
Reply #1 on:
July 27, 2006, 09:39:55 AM »
I read about this in a book the other day.
You will need to have the realtor/homeowner agreement amended to reflect something like this.
Seller will not actively advertise property, but if the seller does have a buyer a approach intrest in the property and buyer decides to initiate a purchase agreement, then the following will occur. If within the first 30 days, realtor will receive $500, after 30 days, realtor will receive $750, as an act of appreciation for listing and actively seeking a buyer for the property.
Of course you will need it tailored to your terms, but I think you get the idea.
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kdhastedt
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Re:how can I make money on this deal?
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Reply #2 on:
July 27, 2006, 10:52:19 AM »
<<
...my parents have a contract with a brokerage firm that says they get 5%. I want to help sell the property and make a commission. How can I get an agreement with the local broker that says if I find the buyer, I get 2.5%
>>
In most states, you must be licensed to receive real estate commissions...before you get too far along, I would check to see if that's the case in WI...
<<
...it is in Green Lake, becoming the next Lake Geneva
>>
Is this a good thing? Lake Geneva's in Switzerland...long commute for a weekend.
Keith
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I have CDO...it's like OCD but in alphabetical order - the way it should be!
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