How to Work with Agents
One the most in demand concepts in real estate investing is how investors should work with agents. This memorial day weekend, I would like honor those military men and women who have served this country, protected our great nation and preserved the freedoms most of us take for granted by providing free access to an excerpt from my soon-to-be-released all in one real estate investing system. Since I don’t know which individuals in our investing family have served in the armed forces, I’m sending this to everyone. So if you are not in the military, pass this along to your real estate investor military friends. Enjoy and feel free to leave a comment on the material at the bottom of this page:
*** Only a few seats remain for the upcoming live training in Ft Lauderdale led by me and Robert Shemin. You can reserve your seat at www.LiveWithPhil.com Use the coupon code “shemin” on the checkout page to get in for FREE ***
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Very interesting, but! I’am trying to buy a short sale now as an investment. Seems like everybody giving me the run-around to the realtors, attorneys & bank.. I offered 2 thousand under asking, after 2 months, they wanted full price. OK with that, now I can’t get them to set a closing date. I can’t get any answers. If I didn’t like this property so much, I would just throw in the towel. It’s a cash deal. Any suggestion? out there! Sarah
YES, you need to deal directly with the banks. The agents, attorneys, etc, are all in your way of creating a successful outcome. And no offense, but paying full price to a bank means that you are leaving a whole lot of money on the table. I just negotiated a deal the other day that the bank clearly said they wanted $50,000 more than my offer and wouldn’t accept a penny less. A week later they accepted my offer. In other words, banks will usually negotiate off full price.
Trying to do a short sale, the bank wants me to load info into equator. I tried, but their system requires a realtor to finish the process for me. I spoke with a few realtors and they say they need to list in mls as active until the bank accepts our offer and opens escrow. This could bring other offers higher than mine. Any suggestions? The realtors I spoke with said it’s unethical to post to mls as pending if it’s not or to post and then remove just so bank can see it was listed. Also, does the seller have to have tried to do a modification prior to short selling?
Jake Timi [Trying to do a short sale, the bank wants me to load info into equator. I tried, but their system requires a realtor to finish the process for me. I spoke with a few realtors and they say they need to list in mls as active until the bank accepts our offer and opens escrow. This could bring other offers higher than mine. Any suggestions? The realtors I spoke with said it’s unethical to post to mls as pending if it’s not or to post and then remove just so bank can see it was listed. Also, does the seller have to have tried to do a modification prior to short selling?]
Phil’s Response - Jake, for the folks in our program, we have videos and trainings and support for working short sales in Equator. It has taken much trial and error to get it right so that all the pieces fit together, including listing agreements, logins, etc. When you are a part of our program, you’ll have access to this information. Please call 877-693-3172 to join.