"Consultant" helping buyers for a fee?

That’s a good idea, thanks! He has a license in another state (perhaps where he’s from or went to college or lived previously), though he lives and works in BK.

cityrat

in Real Estate - Sales 12 years and 2 months ago

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cityrat | 12 years and 2 months ago

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We’re fairly experienced at hunting for properties (we’re looking for a place in BK like everybody else on the planet) and the process in general, and have gone back and forth on using a buyer’s agent and being unrepresented (we have worked with good ones and incompetent ones and gone solo). Recently it seems our hand would be helped a bit in certain cases by approaching a deal unrepresented, esp. with smaller firms as the seller’s agents. But we need all the help we can get on finding properties though we’re doing as good a job of it as anyone. Recently I was approached by someone who does appear to be quite “plugged in” who was offering his services as a “consultant” for an hourly fee (with a minimum of hours), with the idea that he could find “off-market” and undermarketed listings and help with negotiations in general without the risk of diluting an offer on a property with many bidders. He’s not licensed as a RE broker in NY. I do have evidence that he has a lot of information, though. Does anyone know of a service like this and is it ever worth doing? thanks!

ejalbk | 12 years and 2 months ago

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Sounds like an interesting way of avoiding being licensed. I’d ask the “consultant” for some references, but be aware, since he isn’t a licensed broker, he’s not required to avoid conflicts of interest, possible self-dealing etc. You have to wonder why the individual doesn’t get a license. I’d be pretty suspicious, but again, ask for the contact info for individuals he’s “consulted” for in the past and find out what their experience was like. If he won’t or can’t provide any legit references, don’t walk away, run away!