So I'm the market for a home in the Los Angeles area. Went to an open house for a decently remodeled flip. Talked to my realtor about issuing an offer, and apparently it had a $1 commission for the buyer's agent. Apparently, this guy routinely buys houses and flips them representing himself as the seller's agent, and tries to cut out the buyer's agent. The only thing that makes sense to me is he targets people without (or not committed to) an agent so he can collect on both ends. They've dealt with this guy before and supposedly he gets fined routinely (Presumably by the NAR?) but is more than happy to eat the fines. I'm just confused on why he doesn't lose his license if what he's doing is in violation? Anyone have any insight on this? Thanks.
shady realtor? like there are not shady ones? the profession itself must cease to exist, useless middle men taking your money for nothing. best case should be fixed cost depending on the “service” provided
You don't know wtf you're talking about. Ever purchase a house by yourself? Taking your money for nothing? Lol.
found the realtor. purchasing a house is couple hundred for an independent inspection and a couple hundred for the real estate contract. and that would be infinitely more value than a realtor’s “service”. yeah purchased house(s) so you can fuck off with your realtor FUD
he is probably restricted and doesn't have a license and that's why he is stuck on flipping houses where he tries to be both the seller and buyer and on paper it's just a private sale with no agents
Ask for the deepnudes. That will tell you what kind on person he is.
If I was you I'd run my own stats on the financials and have a law firm do the contracts. But if it's the only neighborhood you'd live in and sales come up every few years I guess you'll just have to accept it.
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Count apparently, presumably and supposedly in your question
Lol. Sorry with the Disney vagueness. I only have the information my realtor gave me and don't want to presume it to be fact in case I misunderstood anything.