Comments on: Reader Mail: “My Dang Realtor Won’t List My Option Deal!” http://reitips.com/option-but-realtor-wont-list/ Real Estate Investing, Undressed: Tips, ideas and news real estate investors can use. Sat, 28 Apr 2012 03:54:00 +0000 hourly 1 By: Shirley Farrington http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-155254 Shirley Farrington Tue, 03 May 2011 16:35:00 +0000 http://reitips.com/?p=2394#comment-155254 It's sort of like this: I was in the Apartment Management business for years here in Atlanta, GA. and in our lease it says, "No sub-letting allowed" but we allowed them all the time. What happens most people don't try to negociate the clause and assume they can't do it. But if a tenant would find another and they agree to have that tenant fill out an application and their qualified then management would consider it. It also depends on the time of the year; if it is the hot season or slow season. So our sales contracts do prohibits assignment of contracts, but that can be negociated with the owner of the property through their agent and it might go through. Then it would be a Special Stip with all disclosures. So give it a try. It’s sort of like this: I was in the Apartment Management business for years here in Atlanta, GA. and in our lease it says, “No sub-letting allowed” but we allowed them all the time. What happens most people don’t try to negociate the clause and assume they can’t do it. But if a tenant would find another and they agree to have that tenant fill out an application and their qualified then management would consider it. It also depends on the time of the year; if it is the hot season or slow season.
So our sales contracts do prohibits assignment of contracts, but that can be negociated with the owner of the property through their agent and it might go through. Then it would be a Special Stip with all disclosures. So give it a try.

]]> By: Shirley Farrington http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-155253 Shirley Farrington Tue, 03 May 2011 16:25:00 +0000 http://reitips.com/?p=2394#comment-155253 It all depends on the MLS rules and the BROKER RULES. At least in my state of Georgia. I am a Agnet/Investor and I hate some of the MLS rules as well. I have a great Broker but he is still subject to the FMLS rules as well. Hope this helps. Shirley It all depends on the MLS rules and the BROKER RULES. At least in my state of Georgia. I am a Agnet/Investor and I hate some of the MLS rules as well. I have a great Broker but he is still subject to the FMLS rules as well. Hope this helps. Shirley

]]> By: jp moses http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-155252 jp moses Tue, 03 May 2011 16:01:00 +0000 http://reitips.com/?p=2394#comment-155252 HI, TROOK - I just tell it like it is. I'm very open and up front about the fact that I may or may not be able to find a buyer (when using an option) but that I'll do my best... But once I get a deal (find a solid buyer) I'm converting that option to a contract ASAP...that, or assigning the option and getting paid TODAY for it. Re: listing for minimum 6 months...yeah, Realtors are trained that way. If he won't budge, you'll need to find another Realtory who's willing to go month-to-month with you. The deal is, they don’t want to go through the effort of putting it all in the MLS plus all their other listing junk, just to have you pull it out quickly. They're just trying to protect their time value. But it's not a rule or anything. ...jp HI, TROOK – I just tell it like it is. I’m very open and up front about the fact that I may or may not be able to find a buyer (when using an option) but that I’ll do my best… But once I get a deal (find a solid buyer) I’m converting that option to a contract ASAP…that, or assigning the option and getting paid TODAY for it.

Re: listing for minimum 6 months…yeah, Realtors are trained that way. If he won’t budge, you’ll need to find another Realtory who’s willing to go month-to-month with you. The deal is, they don’t want to go through the effort of putting it all in the MLS plus all their other listing junk, just to have you pull it out quickly. They’re just trying to protect their time value. But it’s not a rule or anything.

…jp

]]> By: TROOK http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-155247 TROOK Mon, 02 May 2011 06:01:00 +0000 http://reitips.com/?p=2394#comment-155247 How do you prep the seller when using an option? Give me your best presentation, JP and others. I've been wholesaling for a couple of years and I just listed my first 4 deals and it hasn't gone too well. The first deal fell through when the sellers used some excuse involving her family and the Mexican Cartel.....uh ok! The second one called around the other wholesalers and back-doored me because the investor said my contract wasn't valid, I already had a buyer lined up too! Also my broker demands that I list for a minimum of 6 months! Is that necessary? How do you prep the seller when using an option? Give me your best presentation, JP and others.

I’ve been wholesaling for a couple of years and I just listed my first 4 deals and it hasn’t gone too well.
The first deal fell through when the sellers used some excuse involving her family and the Mexican Cartel…..uh ok! The second one called around the other wholesalers and back-doored me because the investor said my contract wasn’t valid, I already had a buyer lined up too!

Also my broker demands that I list for a minimum of 6 months! Is that necessary?

]]> By: Ricoxx2007 http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-150016 Ricoxx2007 Sat, 11 Sep 2010 11:36:00 +0000 http://reitips.com/?p=2394#comment-150016 so if i am a agent and i do have option contract on a property. I can list my option contract with my broker so it could be put in MLS and still be the listing agent to get commission. what do i have to statue in option contract and MLS that i am a licensed realtor in Michigan and have option in the property? so if i am a agent and i do have option contract on a property. I can list my option contract with my broker so it could be put in MLS and still be the listing agent to get commission.

what do i have to statue in option contract and MLS that i am a licensed realtor in Michigan and have option in the property?

]]> By: Ricoxx2007 http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-150015 Ricoxx2007 Sat, 11 Sep 2010 11:34:00 +0000 http://reitips.com/?p=2394#comment-150015 so if i am a agent and i do have option contract on a property. I can list my option contract with my broker so it could be put in MLS and still be the listing agent to get commission. what do i have to statue in option contract and MLS that i am a licened realter and have option in the property? so if i am a agent and i do have option contract on a property. I can list my option contract with my broker so it could be put in MLS and still be the listing agent to get commission.

what do i have to statue in option contract and MLS that i am a licened realter and have option in the property?

]]> By: Shirleyafarrington http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-148096 Shirleyafarrington Mon, 21 Jun 2010 01:03:23 +0000 http://reitips.com/?p=2394#comment-148096 Well an Agent who has an Option on a piece of property is allowed to market the property for sale on MLS but has to disclose that said Agent has an interest is the property. But can not be listed at the same time. As said before that there can not be two listing for the same address in the MLS. Well an Agent who has an Option on a piece of property is allowed to market the property for sale on MLS but has to disclose that said Agent has an interest is the property. But can not be listed at the same time. As said before that there can not be two listing for the same address in the MLS.

]]> By: Shirleyafarrington http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-148095 Shirleyafarrington Mon, 21 Jun 2010 00:54:38 +0000 http://reitips.com/?p=2394#comment-148095 Well said, indeed. Put very well. Well said, indeed. Put very well.

]]> By: Shirleyafarrington http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-148094 Shirleyafarrington Mon, 21 Jun 2010 00:50:24 +0000 http://reitips.com/?p=2394#comment-148094 I understand what you are talking about except one thing I would like to make clear. For I am a licensed real estate agent in the state of Georgia and I just want to point out something here. It is not the Realtor or Agent, it is their Broker. Since you were an agent once I know you understand what I am trying to say. I have had Brokers that just always want to play on the conservative side, the safe zone. And most Brokers just instill these things into new Agent/Realtors minds as it being law. Then if the Agent questions the Broker all the Broker will say is that that is the way I run my Brokerage and if you don't like it you can leave. I just want to point the finger at the right person. Agents/Realtors have been blamed for being so many things by Investors over the years. I am glad to see that we are able to work together more lately and I think we should each give more respect for the other as we move forward. I understand what you are talking about except one thing I would like to make clear. For I am a licensed real estate agent in the state of Georgia and I just want to point out something here. It is not the Realtor or Agent, it is their Broker. Since you were an agent once I know you understand what I am trying to say. I have had Brokers that just always want to play on the conservative side, the safe zone. And most Brokers just instill these things into new Agent/Realtors minds as it being law. Then if the Agent questions the Broker all the Broker will say is that that is the way I run my Brokerage and if you don't like it you can leave. I just want to point the finger at the right person. Agents/Realtors have been blamed for being so many things by Investors over the years. I am glad to see that we are able to work together more lately and I think we should each give more respect for the other as we move forward.

]]> By: zixmail http://reitips.com/option-but-realtor-wont-list/comment-page-1/#comment-148076 zixmail Fri, 18 Jun 2010 09:41:51 +0000 http://reitips.com/?p=2394#comment-148076 well, i think Here's an interesting Reader Mail question I got in follow up to “The Real Estate! well, i think Here's an interesting Reader Mail question I got in follow up to “The Real Estate!

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