Also, when a Realtor suggests helping you out with a referral, be aware that Realtor may be getting a referral fee from the agent you're referred to. That often results in the agent having limited ability to negotiate with you on commission. If you're serious about flipping, you'll need to watch every nickel, and agent fees are more than nickels.
If you intention is to buy low, fix and rent, then now is a very good time to do this in Joliet. The prices are low enough to support rents, vacancies and repairs and still walk away with a dollar or two.
Bottom line, is know your bottom line.
Let me know if I can be of any help if you are looking to buy investment property or if you are a homeowner needing to sell. I ama local Joliet investor.
The key is understanding that commissions are negotiable.
Also, it is true that when a Realtor offers to help with a referral, they will likely get a referral fee from the referred agent. However, buyers do not pay their buyer's agent a commission, so the referred agent would have no ability to negotiate a commission with the buyer. The referred agent is paid whatever commission the listing agent offers on the house the buyer selects. The referred agent would just then share a small percentage of that set commission with the agent who gave the referral. Now, when the flipper has done the work and then chooses to list the house with the Realtor they were referred to, they then have the ability to negotiate a listing commission and the original agent who gave the referral is no longer due a referral fee. So in a nutshell, a referral in this situation does not limit a consumer's ability to negotiate with the other agent.