Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (23431)	8/20/2004 9:27:18 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

<<I asked the real estate agent who was working with me if she'd manage something off the books for me, which would have probably cut the fee to about 4-5%, and she agreed>> Are you serious? More importantly, was this so-called "agent" serious? If so, report this person to her broker and/or to state licensing authority. Do you think it's safe to trust one penny of your money to anyone who promises to engage in state-law avoidance and tax evasion? If this agent is a sole proprietor broker herself, she can lose her license for something like that. If she works for a broker and agrees to do what you suggested outside of the broker's direct supervision and control, the broker will not take kindly to frying for her offenses and will take the agent along for the unpleasant ride.

To: Jill who wrote (23431)	8/21/2004 1:13:26 AM
From: Doughboy	Respond to of 306849

I assume that by agreeing to the 4-5% management fee, the agent would also require you to sell the property through her, right? You'll pay one way or the other. I rented last winter from a family that listed their Vail ski property online, and it seemed to work okay (we communicated entirely by email and they emailed a lockbox combination at the last minute). But it's hard to figure out how successful the family is at renting it out. Do they get enough leads to make it profitable? I can't believe that 40% is the going rate, especially in properties that are pretty fungible. Wouldn't a property listed online at a 40% discount in the same building as a managed property win every time? Or maybe high-end vacationers don't do online searching. I love the idea of having a place to go to vacation occasionally, but it's hard to figure out how to make it work.