Now, real estate agents understand how lease options can help buyers and sellers, but let's take a look at how lease options work to benefit agents, as well (in a nutshell, how they get paid for their work!).
Not only will they still get paid, they can actually get paid more! I'll get into that in just a minute. But first, let's look at how agents get paid. When the seller and buyer agree to a lease option the buyer will pay an option fee. This reserves the right for the buyer to purchase the home at a later date for an agreed upon price.
The option fee is paid to the seller, however, when an agent represents a buyer or seller in a lease option transaction, they sign additional addenda, part of which states the agent will be paid part of his commission up front from the option fee, typically 2% of the sales price up front, split between the buyer and seller agents.
The remainder of the commission is paid when the buyer purchases the home at the end of the option period. This creates revenue for in the beginning as well as at the end.
While this isn't as ideal as receiving the entire commission up front as in a conventional sale, it's a whole lot better than:
Not only will they still get paid, they can actually get paid more! I'll get into that in just a minute. But first, let's look at how agents get paid. When the seller and buyer agree to a lease option the buyer will pay an option fee. This reserves the right for the buyer to purchase the home at a later date for an agreed upon price.
The option fee is paid to the seller, however, when an agent represents a buyer or seller in a lease option transaction, they sign additional addenda, part of which states the agent will be paid part of his commission up front from the option fee, typically 2% of the sales price up front, split between the buyer and seller agents.
The remainder of the commission is paid when the buyer purchases the home at the end of the option period. This creates revenue for in the beginning as well as at the end.
While this isn't as ideal as receiving the entire commission up front as in a conventional sale, it's a whole lot better than:
- Turning away a potential buyer that can't qualify for a mortgage;
- Having the seller just rent the home out because they can't sell it;
- Losing a listing because the seller blames you for their home not selling.
Getting paid extra sure is nice when they otherwise would have lost the listing.
If you want to stay in this business, this is the time to get creative. Ask yourself: Do you want to be in the business for 5 months or 5 years? Conventional methods are nice when they work, but you need alternative "tools," too. Adapt to the demands of the market and you'll not only survive, you'll thrive. Give me a call 707-696-9073 Ask for Mark Email markrichardsoncre@gmail.com
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- Qualify the prospect in 3 minutes or less
- Never feel self conscience or intimidated in sales again !
- Imagine no more cold calling
- No more sales games
- Sales is now fun and profitable and within your control
- Qualify the prospect in 3 minutes or less
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•The Mentor Teaches G.U.T.S. CD Set
Recorded by the Author Claude Diamond.
Recorded by the Author Claude Diamond.
•The Sales Method Instructional CD
This is the meat and Potatoes of G.U.T.S. We simplify the system and break it down into the 3 steps of the staircase of Success. Everything you need to know , Agenda, Qualification and Close.
This is the meat and Potatoes of G.U.T.S. We simplify the system and break it down into the 3 steps of the staircase of Success. Everything you need to know , Agenda, Qualification and Close.
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Place it next to your phone and challenge yourself to qualify the prospect in 3 minutes or less.
Place it next to your phone and challenge yourself to qualify the prospect in 3 minutes or less.
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Hey, It’s not Star Wars™ but it’s still entertaining and informative. What package would be complete without a little visual instruction starring the author Claude Diamond
Hey, It’s not Star Wars™ but it’s still entertaining and informative. What package would be complete without a little visual instruction starring the author Claude Diamond
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A colorful charting system for enabling you to learn and quickly implement the G.U.T.S. system. Just place by your phone with your 3 minute success timer.
A colorful charting system for enabling you to learn and quickly implement the G.U.T.S. system. Just place by your phone with your 3 minute success timer.
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Contracts & Forms
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- •All Sales Final -All orders made from this page acknowledged this condition.
