Home Buying in Grand Rapids>Question Details

Jrl, Other/Just Looking in

Any agents in Grand Rapids have enough foresight to offer 1.5% buyers rebate. If so email me or post and I will contact you. I am looking for investmn

Asked by Jrl, Thu Sep 8, 2011

Looking for agents who have read and understand it is legal in Michigan to offer a buyers rebate
http://www.mirealtors.com/content/upload/AssetMgmt/Documents…
If you have and are, please post or contact me. I am interested in purchasing investment property in Grand Rpaids.

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Jrl’s answer
still looking, may also be looking for some lakefront property. I do the leg work/research. You fill out some paper work and collect 1.5%. I would like to get my own realtors license but don't have the time currently.
0 votes Thank Flag Link Tue Dec 27, 2011
Thanks for the response. Yes I want a 1.5% agent, those with the foresight to take a reduced commsion and sell properties vs the others that are wasting away weekends waiting for people to cold call the real estate office like the 1980's. Lloyd my question to you is, how much do you think its worth to show a property and write a contract on a property.? The first one on my list is in the $250k range. 1.5% is $3750. I certainly don't need a full service broker/agent. I do my own research on properties/comps/offers/financing. I have thought many times about getting my own license but I dont have the spare time to take online course and sit for exam. It is worth 1.5% to not have to do this. If you are a qualified agent with investor properties and interested, contact me by email.
As an aside Lloyd your link in your post is non working.
0 votes Thank Flag Link Fri Sep 9, 2011
Be careful which information you believe. It is not illegal for any broker to give you any rebate he or she wants to give. We gan give anything to anyone in the transaction (i.e. seller or buyer) as long as it is fully disclosed to all parties. The $50 thing, which is actually $25, regards gifts given to people not in the transaction. The issue really is do you really want an agent who only cares to make 1.5% as a commission and it has nothing to do with foresight, it has to to with how much does an agent believe his or her work is worth. If it is 1.5% that is fine. Keep in mind that it is your agen't broker that must issue the rebate, not the real estate agent.
Web Reference: http://www.HomeRunRE.info
0 votes Thank Flag Link Fri Sep 9, 2011
yes we always have done that thru our home benefit program that cover thousands of organizations and various groups.
0 votes Thank Flag Link Fri Sep 9, 2011
The rules are clear as to the the maximum allowable amount of money a Realtor is allowed to give to their client after a sale is closed. This amount is $50's. You must find an agent who is willing to work for you for only a 1.5% commission as opposed to the normal 3%. This stipulation must be written into the purchase agreement rather than being paid to you by the Realtor after the closing.
0 votes Thank Flag Link Fri Sep 9, 2011
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