I get this type of call at least once a day. The caller states they saw a property online and saw my contact information. Here are the questions and statements in bullet form:
– hi, I want to buy the home you have listed for all cash.
– I want to buy it for below market value.
– If that home is not available, we buy single family residences in Los Angeles and Santa Clarita for between 130k and 150k. Cash deals.
– If the home is not available, we want you to look for others for is. we are working with many hungry agents at the same time and will go with who brings us the best deal.
1. if I could get a single family residence for 130-150k I would do it for my clients whom are going to refer me business and who have a relationship with me.
2. if I’m going to throw myself under the bus with the bank who uses us to sell their foreclosure portfolio, it will be for a client of ours not an investment group that has loyalty to the deal not the agent.
3. there is something called procuring cause. If someone looks at a home with another agent first before me, and I write the offer, the agent that just showed the home is entitled to a commission. I have educated our client on this topic. The investor is another story. I don’t know who he has seen properties with.
Buyer / Broker agreements. This is a perfect scenario for this little piece of contractual paper. It creates Loyalty between the investor or investment company and us The real estate agents.