Principals Only in the Subject Line of Haves and Wants
Agents Only, etc.
There is a solution for these situations.
Understanding why can help you deal with it and make money.
This causes frustration for some in the industry. Learn on this page the reasons why others do this. And then learn how to deal with it. Properties up to $75M have been sold convincing people that the information placed on ICIWorld is real, they have a real buyer, etc.
Information is the gold on the Internet.
Sometimes you have to dig through a little dirt to get to the gold.
Gardeners love dirt. They plant and grow beautiful flowers. Builders love dirt because on the land they build beautiful homes and buildings.
In a newspaper you will sometimes see a real estate broker advertising a property with the words Principals Only.
There are a few reasons why real estate brokers do this.
There are also ways to approach these brokers and work with them to do business.
This is a free market enterprise service of information and much of it confidential. One great thing about ICIWorld is all this information is filtered through the hands of licensed real estate brokers and salespeople since they are the members. The public can not join ICIWorld. They can post in Database 2 FSBO area, but it is only the broker members who can read their contact information.
Licensed real estate brokers and salespeople have responsibilities on how they conduct themselves according the various licensing bodies in each state in the USA and each province in Canada such as RECO in Ontario. There is protection for the public provided by members of NAR and CREA and standards, and codes of conduct and ethics. Most companies also have their own standards as well to serve the public.
There is a lot of money to be made finding the right property for the right buyer and . . . at the right time. There is a saying, you don't know what you don't know. So true here. You can easily be missing doing a deal and not even realize it.
And if you are a broker who has confidential information and you only call a few people you know, then to all intents and purposes you are a secret agent. You are not using the power of the Internet and ICIWorld designed to maximize your opportunities to find the right match.
And if you are an owner and only shop your property to a few people, how can you know you have not achieved the hightest and best price and terms? There is a way to do it confidentially.
Timing is everything. Isn't it better to find out about real estate opportunities to do business that not find out about them at all.
ICIWorld is an industry leader in providing these tips, exclusive opportunities not found any where else in such a large fashion with 50-150 new listings coming in daily. But there is a competent and professional way to handle this information that members learn upon joining.
The bottom line in this or any business is still one of developing good business relationships with others. If you are going to make a $50,000 commission selling a property, should you at least not meet with the cooperating broker over lunch, a coffee and establish a good business relationship.
Brokers can work all year long and some work years to get themselves trained and in a position to make a large sale. The money made can put kids through school, so there is a lot at stake. And then to have the person go behind their back? To prevent this one a good idea is to establish a good relationship with the other broker. After all you will be splitting a substantial amount of money with them.
One of the benefits of joining a CCIM Chapter for instance is the networking that goes on between members, where you can have a certain element of trust and integrity and expertise in dealing with each other. In one survey, we found that 65% of the members of the chapter did deals with other members of the chapter. I should know. I have been the Membership Chairman of a CCIM Chapter for years. And this goes for all CCIM Chapters in the world.
Keep in mind a great deal of information on ICIWorld is not listed but agreements have to be put in place first before showing a property or identifying it. You must protect you sources. It is like protecting money in the bank.
If an owner says, I do not want to give you a listing but I will pay you a commission, this is an opportunity you can handle when trained properly.
Here are several reasons why brokers say principals only in ads and how to handle these situations when you have a buyer:
If anyone has a problem dealing with someone please feel free to call me and I can try to help.
If you are going to make $50,000, $100,000+ commmissions with another broker, it stands to reason you should at least meet together for lunch, etc. and establish a good business relationship.
This is all about developing good relationships with other brokers and salespeople and one might find that they will choose to deal with you. I have found many of these people end up cooperating once they are convinced you have integrity and bring that to the table.
We have some very special videos and provide monthly Webinars on that teach our members How To Work Exclusive Information in a competent, professional manner that is compatible with the industry.
We should know. We have been doing this since 1994 and real estate brokers and salespeople have been working confidential information since the beginning of selling itself.
And if you feel anyone is placing information on ICIWorld that is not real please call me and let me know.
Gary Nusca, CCIM
See fifty pages of testimonials of exclusive deals being done that were not started on a real estate board. CLICK HERE J