Frequently Asked Questions
Over the past few years, we have had some questions asked frequently during the interview and discussion process. Here are some of those questions and the answers to them. We will periodically add more questions and answers to this section as they are warranted.
Q- How do I know that I am getting the first opportunity to buy a property and that you aren't keeping all of the good deals for yourselves?
A- Good question. It is our personal and company policy to first offer an opportunity to our clients. We do not "cherry pick" houses for ourselves and give our clients what is left over. We believe in ethical and professional behavior and this is part of it. However, if after a reasonable amount of time none of our clients take advantage of a property, then we may move forward to purchase. But, you will ALWAYS have first opportunity.
Q- What does it cost to be a client?
A- It won't cost you anything to be a client of ours, but it will probably cost you $1,000's if you're not. We don't charge any upfront fees or retainer fees, and get our commission from the seller and their agent in the transaction.
Q- When I sign an Exclusive Buyer's Agreement with you, what happens if I buy a For Sale By Owner (or find another property that I buy from someone else)?
A- You will be liable to us for the commission that we would have earned on the sale, generally 2-4% of the gross sales price, and we will expect to receive that amount from you. When you sign the agreement, you are stating that if you purchase investment property in Wake, Johnston,, Harnett, Granville, Franklin or Orange counties during the term of the agreement, you will purchase from us. We want to be your Realtor, and we expect to have your loyalty in our relationship.
Q- Can you assist me in financing?
A- Yes, we have loan programs that we have developed just for our clients that make for a smooth and easy transaction. We have lenders who specialize in investment property, just as we do and will gladly refer you to them once you are one of our clients.
Q- What about repairs to a property?
A- Either you can do them, or we can arrange for the repairs. If you have us take care of them, you are assured that we will have them done for the best price possible. We use the same contractors (paint, handyman, electrician, plumber, HVAC, etc) on our properties as we do on yours. We have developed relationships with these contractors over the years and have a level of trust with them that they will do an honest and ethical job for us.
Q- With all of the clients that you represent, do you ever have a situation where multiple clients are offering on the same property? How does that work?
A- Occasionally, we do have a property that catches the eye of more than one of our investors. In the event that we have multiple offers on the same house, we will always take the high road, and not play "favorites" with any client. We want to level the playing field as much as possible, and to advise 2 or more clients what to offer on the same property would be breach of our duty to both of them. We will, however, tell all parties interested in making an offer that there are multiple offers on the property, and to make their best offer that they feel comfortable with. Each of our clients has been given the same information through the email, and therefore will be treated exactly the same throughout the offer process until a contract is reached.
Q- Can I get a copy of the Buyers Agency Agreement that I must sign before meeting with you?
A- Yes, we will gladly furnish a copy of what you will be signing. Just contact us and let us know you would like to look it over before our interview and we can fax or mail you a copy. In the future, we will have a link to a copy in PDF format.
