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Friday, January 27, 2006

Still Looking For Properties

I suppose now would be a good time to remind everyone that I am always looking for birddogs in the greater Phoenix area.

I spend a couple hours today looking for properties with motivated sellers. I found one townhome, but when I called the agent I was told it closed yesterday. The MLS listing said it was still active. As soon as an offer is accepted, the agent is supposed to change the listing status so this doesn't happen. I didn't find much else worth getting worked up over, unfortunately.

While looking for properties, I ran across a couple properties where the buyer's agent's commission was 3.5% instead of the usual 3%. That's typically a sign the seller needs to get rid of the property for some reason. Both places were empty and newly remodeled, so I think they were being sold by some flippers who got caught in the market slowdown.

4 comments:

Anonymous said...

Curious how you found the commission being offered. Do you have access to MLS somehow?

Shaun said...

I don't have complete Realtor-level access, but I do have limited access. The commission was mentioned in the comments / description section of the listing.

Gualberto said...

I just read over your faq to getting started in pre-foreclosures. Very good stuff. You know what's funny? The real estate group I found in NYC, is based on the Rich Dad series. Its quite possibly the best thing I've come across. All these people motivated to make money! You can't really beat that.

Trisha#1 said...

Well, keep your head up! Your in one of those weird limbos--market-wise. Since your area is shifting to buyer's market from seller's market, it'll understandably be a while before you, the investor, has the upper hand. In the meantime, it sounds like you're doing what I would do in the same situation--educate yourself and keep an eye out for any stray properties. Best of luck!

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