Posted by StevenS(CPA) on July 18, 2008 at 15:05:42:
In Reply to: Re: In this tough market - is this a new idea posted by Killer Joe on July 18, 2008 at 11:55:10:
Joe,
Wow. I could definitely trade some horror stories with you. The thing that kills me is most brokers will not admit they do not know something and try to BS there way through a deal. I'm lucky just to find a broker who will not slow the deal down because most of them do slow deals down only because they want to have total control of the process. And I always tell brokers whom I'm working with is that its MY way or the highway, because I'm the one who is going to have to make the payments at the end of the day.
Two, most business brokers, like inexperienced real estate agents, only want to talk to buyers who have 800+ credit, lots of equity and assets and years of experience in a given field.
When I talk to brokers, I tell them right up front, I'm not looking to buy a 80 hour a week job (which is the number one mistake most first time buyers make). I tell them I'm looking to make a deal where everyone gets paid and everyone is happy. Usually that is enough to open their ears, because at the end of the day, they only want their commission and if they feel like you can make it happen they will more than likely talk to you.
I've been on the Seller side too - which isn't any fun either. Brokers would screen out buyers who I could have worked with and they have brought me buyers who were looking for something totally different. It's very frustrating.
But anyway, I hope this thread doesn't get deleted because I want to keep it going to share more information. But if not I would be happy to do an email exchange with you.
- Killer Joe and Steven -Please keep discussing here steve 06:17:39 07/19/08 (0)