Super Broker!!!Yesterday….I took a walk into the lion’s den! I agreed to be interviewed by…. “The Sultan’s of Short Sales, the Crusaders of Capitalism, and the Prophet’s of Profit…Barry Cunningham and Barry Johnson”, over at Real Estate Radio USA.

You may have had some encounters with their producer, Brett Wilson on ActiveRain. Brett posts quite a bit on ActiveRain about short sales and incompetent REALTORS®. He can sometimes come off a little aggressively and has a tendency to “stir up the pot”. But that’s OK. I actually enjoy heated debates and have enjoyed interacting with Brett. Sometimes I agree with him and sometimes I don’t.

Below is the link to the interview if you want to listen. It’s a little long, at around 40 minutes, but well worth the listen if you have the time. You can listen as you read this post.

Broker Bryant on Commission Justification [41:48m]: Play Now | Play in Popup | Download

Now folks, I’ve listened to this a couple of times and have to say……I suck! I think my problem was I went in being very conscious of not dominating the conversation, as I have a tendency of doing. Plus I wanted to do my best to just answer the question “What do you do to justify your high commission?”

But here’s the problem. The Barries are looking for an answer that quantifies exactly what it is we do with a cost associated to it. For example. I advertise in the paper and it cost me $500. I’ll spend $1,500 to market your property. My negotiating skills cost you $1,000 and so forth. According to the Barries by doing this the potential Seller should be able to justify paying me x% because what I spend on selling their property warrants it.

If you listen to the interview you will hear that I struggled with this question. The reason I struggled is because I don’t put a separate line item cost on each individual thing I do to get a property sold.

At one point Barry even related a story about how a plumber can show you an invoice explaining where his costs are. Well folks, I’m not a plumber!! I don’t charge by the hour or charge for the part (tool) that I use.

What I was trying to explain is that my value is in my skill. I get the job done by whatever means I choose to use. And a lot of what I use are intangibles i.e knowledge, experience, trust, likeability, negotiation techniques, pricing salesmanship etc. How do you make these…line item charges? You can’t.

I’ve thought about this quite a bit since the interview and I keep coming back to the same thing. The Barries don’t understand what we do. And that actually surprises me because they do the same thing. Let me explain.

The Barries are in the business of teaching folks how to buy short sales for a profit. They sell tickets to a seminar. From what I’ve read on their site this is their business. They also seem to be very good at it.

So my questions to the Barries are:

  • How many people, that take your seminars and receive all the tools needed to purchase short sales, actually utilize the tools and knowledge you have given them?
  • What is the percentage of folks that attend a seminar that are now successfully purchasing and selling short sales?

The reason I ask this is that I know from experience that even though we may provide folks with ALL the tools they need to be successful it is still a very small percentage that actually have what it takes to make a go of it. Not because they don’t have the tools but because they don’t have the type of personality it takes to be a success.

The same goes for your average Seller or Buyer that wants to go it alone. They can find every thing they need to get the job done. BUT having the tools doesn’t give them the knowledge and the ability to use them.

Sellers don’t want to know what tools I use. What they want to know is that I can get the job done. And I can show them this by having a track record and by building a level of trust where they “just know that I know” what I’m doing. And this is an intangible. It’s not a line item cost.

Lindsay, the young lady that the Barries are going to turn into the “Agent Rock Star” asked me a question yesterday. She wanted to know who a Seller would choose if she walked in with no experience but a long list of everything she was going to do to sell their property including spending her own money and me just sitting there telling the Sellers I couldn’t explain what I do but “Just trust me, I have 13 years experience and have sold hundreds of properties in your neighborhood”.

I can’t remember how I answered but know I didn’t want to discourage Lindsay in her endeavor BUT the answer is….they would choose me hands down. She wouldn’t stand a chance in heck of winning a listing where she is competing with me. How do I know this? Because I don’t lose listings. I turn some down but I don’t lose them over a 25 step marketing plan, cost or anything else. Why? Because I’m a natural born salesperson. I know how to build trust quickly. I know how to make people comfortable with their decisions.

Lindsay…..it’s truly not about what you do. It’s about how you do it. Put the marketing plan away and just talk with folks. Find out what their needs are and then fill them. It IS all about the relationship. And relationships, my friend, is what Web 2 is all about. Use all the tools you will be provided but use them for the right reason, building a relationship with trust being the cornerstone.

It’s sounds so simple because it is. Assuming you have the tools that ARE needed:

  • Likeability
  • Knowledge
  • True care and concern
  • The ability to listen
  • Problem solving skills
  • Negotiating skills
  • Trustworthiness
  • Honesty
  • Ethics
  • Morals
  • The desire to help
  • Confidence

So there’s my quantifiable list. The cost is x%.

OK, Barry, Barry and Brett, here’s my last two questions. Maybe the answers will help answer the question “How do you justify your high commission?”

  1. If you owned a property in Poinciana Fl and wanted to list it tomorrow, would you hire me?
  2. AND….why? 

Be honest. I was.

***OK…so I couldn’t resist on the picture! Thanks Danny Smith.

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://www.brokerbryant.com/
***The content of this blog is solely my opinion*** 

Let’s come together as a community and………..

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Let's heal the wound!Hi folks. OK I’ve tried to NOT write this post but I just can’t fight the urge. As one of the “popular” members on ActiveRain sometimes I just have to jump into the lion’s den. I know I shouldn’t, BUT I feel obligated to. I know I have a large readership and by writing this, it will get read. Also, I LOVE ActiveRain!!! I have been a member for almost 2 years and have seen this place grow from roughly 600 members, to where it is today, with almost 90,000!!! Incredible. 

This week, has been a rough one for the owners and staff of ActiveRain, controversy has once again raised it’s ugly head and the proverbial shit has hit the fan. The recent banning of a member has started a very heated debate about censorship, justice, lemmings, hidden agendas and freedom of speech. 

If you are not aware of what’s been going on you can check it out by reading these posts. There are plenty more but these will get you started. 

A Dark Day on Active Rain

The Stench of Hypocrisy on AR

A Wake up Call 2-An Open Letter to Jonathan Washburn

Leadership requires decisiveness on gray issues 

OK…..this post is NOT about who is right and who is wrong. This post is NOT about creating division. This post is NOT about the definition of Lemmings. This post is NOT about demanding reinstatement for Bill Burress. This post is NOT about suing folks because we don’t like what they write. This post is NOT about being a Liberal or a Conservative. This post is NOT about being a Christian or not. This post is NOT about name calling. 

This post IS about finding common ground. And in order to do that we MUST agree on some very basic facts. 

  • Freedom of speech does not apply to this site as it is privately owned.
  • Not all Christians are Conservatives.
  • There are Liberals who are Christians.
  • Bill Burress was a staunch AND opinionated defender of HIS beliefs.
  • ActiveRain IS mostly a real estate site.
  • We are guests of ActiveRain.
  • Jonathan Washburn, as CEO of ActiveRain, has the right to make difficult decisions relating to HIS site, whether we agree with them or not.
  • Bill Burress’s comment, about Lemmings, was NOT the only reason he was removed from ActiveRain. 

Let’s start there. I believe these are statements of fact. Can we ALL agree on these facts? If not let me know why. 

Secondly, where do we go from here? What can we do as members of this awesome site to come together and move beyond what has happened? 

Folks, I don’t know the definitive answers to these questions. However, I can give you my opinion. And here it is: 

As a community we need to get back on track and focus on the things that have made ActiveRain such a great site. For me these things are: 

  • Sharing what we know.
  • Caring about other members.
  • Respecting others. 
  • Providing the consumer with great real estate information.
  • Giving the consumer a peak at our personalities.

We also need to: 

  • Debate the topics but respect the person.
  • Steer clear of ALL name calling.
  • Stop making generalizations about people, their religion and their politics.
  • Abide by all laws and codes including Fair Housing, licensing and CoE.
  • Respect the owners vision for their site.

Remember that our individual blogs should also fit into the greater scheme of things which is this community and it’s mission.

OK…that’s all for now as I want to leave room for you folks to add your comments. I ask that you do so with respect. I also ask that your comments are about solutions on how to move forward, united. Not united in opinions and ideas but united as a community. A community that wants to thrive so we can ALL benefit. Remember this isn’t about YOU it’s about US. 

I’m a simple man and this is all I got for ya.  What say you?

Don’t Fret Over The Localism Land Rush……Call ROAR! Realty.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

ROAR! Realty

Hi folks. With the Localism “Land rush” going on this week we, TLW and I, just know that some of you are missing out on the communities you want or may be purchasing more than you need. With that in mind, TLW and I are opening up a new business…..ROAR! Realty. 

We at ROAR! Realty are here to assist Buyers and Sellers of Localism communities. We offer exclusive Broker representation in what may be the single biggest purchase of your Internet life time. 

ROAR! Realty is the first business of it’s kind and is on the cutting edge of today’s technology. We Twitter, we twatter, we twoot and poot. Just let us know what you want and we’ll find a way to make it happen. 

Contact us today to take advantage of our introductory rates. The first 30 callers will get our exclusive brokerage representation for the low low rate of 10 “great post” comments on our posts and 5 “flag for feature” thingies. 

Don’t miss this crappy opportunity folks!!! Act now!! Operators are standing by.

ROAR! Realty, Inc
435 Crappy Lane
Constipation, FL 34546

Making dreams come true one community at a time! 

No Short Sale For You!!!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Look out for the snakes!!!!I HATE strongly dislike having transactions fall apart at the last minute. Last Friday, I was supposed to close on one of my Poinciana Florida short sale properties. It was a pretty difficult deal that required almost 3 months of negotiating with Wells Fargo. 

After many days of going back forth on the negotiating of a promissory note we finally arrived at an agreement between Wells Fargo and the Seller and received the written “Short Sale Approval”. All was right with the world!!! 

The next step was to make sure the Buyer was still on track by getting a closing date addendum signed. The Buyer signed. One of the reasons I wanted the Buyer to sign another addendum was to make sure they were still motivated to get this deal closed. We also had them place an additional escrow deposit which they did. 

Feeling pretty confident, that everything was a go, I ordered the pool clean up. The pool was a disgusting green and needed to be cleaned up prior to the appraisal being done. 

The pool is cleaned, the appraisal is good and closing is right around the corner. I can almost smell my TLW’s check!!! 

Then, much to my surprise, the buyer decides to change lenders two weeks prior to closing!!! Holy crap!! Now I have to go back and get an extension on the Short Sale approval. Fortunately, I had a great loss mitigation negotiator and getting this extension was not an issue.

A few days later I get the updated approval letter from the new lender only to find out they had approved the Buyer for a USDA Rural Housing Loan. That’s all well and good except……..you can’t use that loan program on a house with a pool!! I call the loan officer and point this out and he says “No problem I’ll just switch it over to a FHA”. Well OK then!!! Just don’t forget to mention to the Buyer that he now needs additional funds to close. 

Reluctantly, I have to call my favorite negotiator and ask for another Short Sale extension. This angel grants it immediately and sends me over my second extension.

In the meantime, my Seller is served the “Final Summary Judgement” informing her that the sale date has been set for…….17 October. That’s right….it’s today. 

I’m sad to say that after getting everything sorted out with the Buyers loan and scheduling a closing for the 10th, the Buyer decided to NOT close. He got so fed up with the process that the day before closing he decided to walk!!! 

I tried everything I could to assist the Buyer’s REALTOR® and mortgage broker with getting the Buyer back on track but nothing worked. The deal died. 

I contacted my favorite negotiator to see what my options were but her hands were tied. The Investor, FreddieMac, would not delay the auction without a new contract on the table. 

So, this morning, at around 10 a.m., my Seller lost her house at auction. 

Folks, working Short Sales can be frustrating. I win more than I lose but it still sucks not being able to win them all. I learned a lesson with this one…..if at all possible, have a back up contract. 

I am not yet an expert at Short Sales BUT I will be. Will you?

POINCIANA FLORIDA REAL ESTATE SHORT SALE INFORMATION

POINCIANA FLORIDA REAL ESTATE MARKET REPORTS

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR POINCIANA REAL ESTATE

Sell Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Poinciana Real Estate Agent

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved  

Powerful!!!

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Remember the Reason
Merry Christmas from TLW and Broker Bryant

Making Homes Affordable (MHA) Plan. SHOULD WE BE DOING LOAN MODS?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

HELP ME!!!! 407-873-2747

Hi folks. I guess by now you have read or heard of the Obama Administration’s Making Home Affordable(MHA) plan. Here the three major components. 

 

  • Refinancing options for folks that have been making payments and whose 1st mortgage is no more than 105% of current market value. Example: If the property is worth $100,000 the 1st mortgage must be $105,000 or less. Unfortunately this program will not help many people in my market, Poinciana Florida, since values are down 65% in the last 24 months. In Poinciana the house is worth $85,000 and they owe $200,000+.

 

  • Loan Modifications: Loan Mods are for folks that want to to keep their house who are not able to refinance either because they are not current with their payments or they owe more than 105% of current market value. The loan can be modified by:
  1. Reducing the interest rate. 
  2. Lengthening the term of the loan.
  3. Reducing the principle amount.

 

  • Short Sale Incentives:  The part of this I really like is the $1,500 to help the Sellers move. 

Overall I like this plan. Unless I’m missing something it does seem to be geared towards helping people stay in their homes. It’s also designed to lower foreclosures and give lenders incentives to do short sales or deeds in lieu of foreclosure. And that’s a good thing.

Below are some links so you can read up on this and then come back and let me know what you think. Better yet, write a post, come back and leave a link in the comments of this post. I need your opinions.

HOME AFFORDABLE MODIFCIATION GUIDELINES

MHA HOUSING COUNSELOR Q & A.

MHA DETAILED PROGRAM DESCRIPTION

My question is……Should we as REALTORS(R) be doing Loan Modifiations?

CENTRAL FLORIDA REAL ESTATE SHORT SALE INFORMATION

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR CENTRAL FLORIDA REAL ESTATE 

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved  

 

So….you want to buy a Florida Investment Property?

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Buy me! 407-873-2747

Buying an Investment property in Florida right now can be lucrative but it’s not easy. Here is some information that may help.

If you want to purchase a Foreclosure you will not have time to look at the property prior to making an offer. The “deals” will have multiple offers within hours of being placed on the market. If the numbers work….go for it.

We suggest making strong offers and making them quickly. You may also want to make offers on multiple properties to increase your odds of getting one accepted.

However, the offers must be realistic. If the property is priced right we will not write offers for less than 97% of the asking price. It’s a waste of your time and ours.

Properties priced well will sell very quickly and usually with multiple offers. It is very common for them to sell for more than the asking (list) price. When you see a property you are interested in our job is to complete a market analysis to see what it is worth. We will then advise you on how to make an offer that will be accepted or at least considered.

  • You do not have to be here to buy or close (complete) a purchase.

 
In order to make offers you will need POF (proof of funds) and the ability to wire a deposit in the amount of $2,500 to First American Title (escrow company). Your POF must be stated in USD (dollars).

Foreclosures are sold “As Is” with right to inspect. this means that once a property is placed under contract you have 10 days to have it inspected (surveyed). If you deem the property unacceptable after this inspection you have the option to cancel the contract at your sole discretion and get your deposit back. This 10 day period gives us time to thoroughly check out the property, on your behalf, including a complete interior and exterior photo shoot.
 
All offers are presented on a “As Is” offer to purchase contract that we prepare and send to you for signatures. This signed offer is then sent, with your POF and the confirmation of deposit, to the Seller’s Broker. They present it to the Seller (bank). It will take the Bank any where from 2 days to 2 weeks, or more, to respond.
 
Their response can be:

  1. Acceptance
  2. Rejection
  3. Counter Offer
  4. Request for “Highest and Best Offer”. This is normally how multiple offers are handled.

When your offer is accepted the Bank will send over a stack of addendum that will need to be signed/initialed and added to the contract. These addendum may have 5 pages or 30 pages depending on the Bank.

When purchasing Foreclosures “Time is of the Essence”. If you need time to think things over then purchasing Foreclosures is not for you. We do this everyday. Let us use our years of experience to help you get a good property at a good price.

Other than these things purchasing a Foreclosure is pretty straight forward.
 
That’s it. I hope this helps. Any questions?

CENTRAL FLORIDA REAL ESTATE SHORT SALE INFORMATION

MAKE AN OFFER ON ANY  FLORIDA PROPERTY LISTINGS HERE

MORE INFO FROM BROKER BRYANT… THE SOURCE FOR CENTRAL FLORIDA REAL ESTATE

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

How to Disarm Disintermediation.

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

 

Hi folks. This post is about “disintermediation”. I have a whole bunch of stuff I could write about this topic but today I want to concentrate on Real Estate portals, specifically Trulia, Zillow and Cyberhomes.

First, in a nutshell, “disintermediation” is defined as “getting rid of the middleman”. The idea is that Sellers and Buyers no longer need agents and can just log on to Trulia, Zillow, Cyberhomes or any of the other real estate portals and buy and sell real estate without the help of the middleman or REALTORS® specifically. Now folks I don’t want to debate the value of a REALTOR®. Been there done that.

I want to talk about this disintermediation thing. Here’s what I think.

The real estate portals, that supposedly will make the MLS no longer necessary, are actually creating another level of middleman.

Trulia.com is:

  • We are a real estate search engine that helps you find homes for sale and provides real estate information at the local level to help you make better decisions in the process.(From trulia.com about us page)

The consumer can now log onto Trulia, find a house and THEN contact either their own REALTOR® or the listing broker. Better yet, maybe they will all have to go through Prudential, one of Trulia’s new partners. A FSBO cannot place a property on Trulia. Only agents can. So Trulia has NOTHING to do with disintermediation. So if the consumer wants to purchase one of my listings, by using Trulia, they will have to go through me. My listings are on Trulia.

What is Zillow.com?

  • Zillow.com is an online real estate service dedicated to helping you get an edge in real estate by providing you with valuable tools and information. (from zillow.com about us)

Now I concede that the consumer could very well go to Zillow.com and attempt to buy and sell real estate without the REALTOR® being involved. But if they want to purchase a property listed with me….they will have to go through me. Why? Because my listings are on Zillow.

Cyberhomes.com is the portal to watch:

  • Expert tools. First-hand knowledge. CyberhomesTM valuations give you access to most of the same information that real estate professionals use to evaluate homes. (from cyberhomes about us)

Cyberhomes is owned by Fidelity National Title. They have 100 million property records!! Keep an eye on Cyberhomes. They also have reliable sold information on these properties. The consumer CAN log on to Cyberhomes and get information. BUT if they want to purchase one of my listings…they will have to go through me. My listings are on Cyberhomes.

Now let me state that I use these portals quite a bit. Just yesterday, one of my Sellers contacted me wanting to do some research on her own, to see what her house is really worth. She wanted to know if she could do this by visiting the tax records online. I said she could. I also said her best bet is for me to update the CMA. BUT if she wanted to do some research on her own….here are the links to Zillow and Cyberhomes.

Also yesterday, I had a buyer contact me through my blog http://brokerbryant.com. He sent me an MLS# and wanted some info. It was not one of my listings and I had already logged out of the MLS so I just put the MLS# into the “search properties” feature on my site http://brokerbryant.com and pulled up the property.

I got the address and then located the property on Trulia and sent it over to him. I thought Trulia’s presentation was a little better than my IDX. No biggie. The buyer emailed me back and I will be showing him the property next week when he arrives from Bogota Columbia to buy in Poinciana FL.

My point is, the real estate portals are not disintermediating my business in the least. They are actually giving me some tools I can use in my business.

Being a listing Broker, as I am, I OWN the listings. No matter where the are syndicated you can’t buy one without going through me. I control the inventory and I control the commission. This is the advantage of being a listing Broker. Whether or not your Buyer decides to cut out the middleman, you, they aren’t able to cut me out. They have to go through me no matter where they find the information.

To take this a step further. If the MLS disappeared tomorrow, I would still OWN the listing. I don’t care where the Buyer comes from. They can’t purchase one of my listings without me getting paid. Think about that.

And for the consumer. Why waste your time going through the “middleman”? Why not go straight to the source? You don’t need Trulia, Zillow or Cyberhomes. In fact, you probably haven’t heard of these places anyway. So just do a Google (I bet you’ve heard of them) search for the area you want to live in. Want to buy or sell in Poinciana FL? Try Googling these.

Then just contact the guy at the top……Broker Bryant. Google me….that’s all you get for free.

Copyright © 2008 http://www.brokerbryant.com/ | All Rights Reserved

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://www.brokerbryant.com/
***The content of this blog is solely my opinion***

Real Estate Deals in Ginn Reunion Resort….Davenport Florida

Posted by admin December - 31 - 1969 - Wednesday ADD COMMENTS

Now $25,000!!!!

Hi folks. Today I want to give you a little taste of the real estate market in Central Florida. If you are not in Florida, California or Nevada it may be hard to comprehend how bad things got. How drastically values declined.

Let’s use Ginn Reunion Resort as an example. Reunion was designed to be a would class vacation resort. It features 54 holes of Championship golf designed by Arnold Palmer, Tom Watson and Jack Nicholas. Reunion Resort also has a 10 acre water park, 17 pools, horse stables, tennis, spas, shopping, ANNIKA Golf Accademy, condos, townhouses, single family homes and the topic of today’s post…….lots.

In 2004 and 2005 this was the place to buy and flip vacant lots. Standard size single family lots (4500 to 6500 sq ft) on the golf course were selling for as high as $600,000 in 2005. Today……..

  • Bought in February 2003 for $82,900. Sold for $339,900 in May of 2005 with a mortgage of  $271,900. Today it’s on the market as a REO at………$14,.900. That is NOT a typo.
  • Bought in December 2004 for $184,900. Sold 3 months later for $310,000. It was foreclosed on and is on the market today for……$19,000.
  • Sold for $546,700 in September of 2004 with a mortgage of  $410,025. Available now for $25,000. Not sure what you could build on this one since it’s only 35 x 115.

Does it get any worse than this? What was the Lender thinking when they lent $410,025 on literally a strip of land 35 ft wide?

Anyway……if you are looking for a deal in Reunion let me know. I’m sure we can find you something.

Reunion Lots from the $20,000s

Reunion Townhouses from the $110,000s

Reunion Condos from the $150,000s

Reunion Single Family Homes from the $200,000s

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Copyright © 2009 http://www.brokerbryant.com/ | All Rights Reserved

 

Florida real estate broker 407-873-2747

Part of our job as Real Estate Brokers is standing up for our agents. Extortion seems to be the biggest culprit as evidenced by this conversation from today.

It started when one of my agent’s called me all upset. She then forwarded me this email from a friend of one of her Buyers.

XXXXXXX,

 

There was something I wanted to discuss yesterday, but there were too many issues at that time to get resolved.It seems I have been doing a lot of follow up on this sale. For Example, I found this listing, I notified you of the water being disconnected that effects the inspection, and I verified the Clubhouse and Pool when you didn’t know there was one, also reviewed contract and verified the dates were not correct ( ie delay in when contract was received on 10/28 ) ect… .I believe without my assistance you would not be able to close this sale in a timely manner.

 

I have spoken with XXXXXXXXXXXX this morning and they wanted me to make sure and we are all in agreement regards to the purchase of the townhouse and feel I should get some sort of compensation from this sale, since this sale basically fell in your lap. We agree that a $1000 finder’s fee ( 1 % of the sale ) would be fair compensation for my time and effort.


Of course I had to jump in and take care of it.

Hi XXXXX,

I hope this email finds you doing well.

XXXXXXX had forwarded me your email about your request for a “finders fee”.

All commissions related to this transaction go through me as the Broker.

My company Tutas Towne Realty, Inc is receiving 2.5%  ($2,500) for this transaction of which XXXXX receives a percentage.

I am prohibited by law from paying you a “finders fee”.

No real estate license. No commission.

The 2nd issue of course is that this entire transaction came through XXXXXX. I spoke to XXXXXXX and he did not request a referral fee.

We handled this transaction, at the last minute, based on this information.

My understanding was that you were helping your friend with this since you are in the area. All of your hard work is appreciated.

At this point we are abiding by the terms of the purchase contract and nothing more.

Tutas Towne Realty will not be paying any other parties a referral fee or a finder’s fee.

Please feel free to contact me with any questions.
  

Mr. Tutas,

 

Thanks for your follow up. Maybe as a Broker / Owner you would like and hopefully appreciate our experience thus far in attempting to purchase this piece of property.

 

First, the purchase contract was signed on October 22, 2009 signed by XXXXXXXXX on October 28 and returned to us for review on 11/04 and we still have not gotten an explanation from XXXXX why there was a 7 day delay in notifying us that we have a signed contract .Conversely , XXXXXX advised us to let the Seller respond by October 27 ( 5 days from when the purchase contract was signed ) so obviously when we heard nothing back from XXXXXXXX and was told ” to be patient ” we pressed XXXXXX for an answer.
Then we received the closing date of on or before 11/15 when she realized it was a Sunday and to contact the Seller to revise the purchase contract once again. While she was getting this sorted out, I drove by the property and noticed there was a Orange County Utilities notification that the water meter had been shut off, and there was a payment due of $ 453.94 to turn the water back on. XXXXXX was not aware of this, and this likely would up negated our inspection that is set up for Tuesday, Nov. 10. had I not informed her.

 

I am aware by Florida Law you are prohibited to pay a “finder’s / referral fee.” So the terminology I used was incorrect, however, a “commission rebate” is not prohibited by Florida Law. XXXXXXX did not locate this listing, I did. I
If your position is that you simply will not pay it, then after this transaction we will simply take our business elsewhere and find another Real Estate company  that will assist with our cash purchases in the Dr. Phillips/ Windermere area ( with agents who have experience in this area ) in which, we intend to do more in the future. It is nice words to say “you appreciate all my hard work” but if you meant it i would be duly compensated.

XXXXXX,

XXXXX has been in communications with XXXXXX and all is well. If that’s not so and XXXXXX has concerns then please have him contact me direct.

While I am sure there are companies that do buyer rebates my company does not.

Given the opportunity to discuss this prior to XXXXXX using our services I would have been happy to let him know this so he could have chosen a company that does…if this was important to him.

You are certainly free to work with whomever you choose in the future.

I don’t participate in extortion.


Mr. Tutas,

 

I appreciate the update and take offense to you calling it “extortion” it only solidifies how unprofessional you are !

 

Please have XXXX contact XXXXXXX directly, I don’t need to waste anymore of my time helping her do her job.

 

Good Day


So….what do you think? Was I too harsh?


*****If you are an experienced REALTOR(R) in Florida and want to work for a virtual Real Estate Company check out www.TTRealtyNet.com.

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
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About us

I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.