Thank you so much once again, for explaining what is going on, so even simpleminded people like me can understand it. I am so glad you came up with this plan and hope it works. God bless you.
Hey thank you Jerry. I’m just getting into whole selling in Montana. I’ve watched a lot of your videos, got Gold on prop wire and I’m still struggling to expand my buyers list
Jerry, we need a more breakdown. I stay in Florida where you say dual agency isn’t allowed and the amount of confusion this video gave me makes me scared to continue double dipping, like how do I factor in the price, how does the contract look, it’s questions we need answers too Mr. Flipping Genius
Very confused. At 4:20, you said the way it is currently is: Offer $100k. Seller pays $3k commission. Net proceeds are $97. Wouldn’t it be $94k net? You said they typically cover buyer and seller agent commissions. Watched this breakdown about 10x and still not understanding.
Yep, caught the same. $94 with double now we wholesalers have to pay to maintain liating agent relationship double dip, and "factoring in" 3k deal cost could mean net offer could NOT be 100k but 97k if wholesaler doesnt want to eat cost.
Hey Jerry, i think the video edit is the issue / confusion. Did you mean to say $3,000 to the BUYERS agent? Instead of Sellers Agent? Both examples show 3k to the Sellers Agent and show nothing about the buyers agent side. Perhaps that's a mistake??
So what you're saying in a state like Florida instead of complicating things just offer the listing agent to double dip just as you would in any other state where dual agency is legal and let the agent decide what strategy they want to use to double dip whether that's designated agency or transaction broker...they will figure it out and decide what to do, right?
@@FlippingMastery I’ve heard you say that real estate is like high school. You’ll have to wholesale first then work Your way up, what if wholesale isn’t working for one, can they move up to fix and flips?
I’m confused about the calculation provided for the double dip in the new commission model. You said without the double dip the listing agent would get 3% from the seller. Then you said you would pay the 3% to the listing agent but this isn’t double. Do you mean you would pay 6% to the listing agent if they represent both sides in dual agency or transaction broker?
The listing agent already gets 3% (or whatever) from the seller. We have no control over that. What we have to offer/negotiate is the buyer’s agent commission
Me too..? I listened to that section of the video 4 times. What I got out of it was offer 3% less to make up for your buyers side expenses at closing.. I think?!?
@@FlippingMasterythat is what I assumed was the intent, however the graphic and description only mentions 3% and the seller netting $97k. It doesn’t, however, show both sides. The seller actually nets $94k after agent commissions, minus closing costs paid by the seller. My broker doesn’t allow us to get paid from both sides so for us either the buyer or seller would have to pay the full commission or go with the referral option for the buyer side if we are the listing agent. 4:52
The seller is responsible for both the selling agents 3% commission and the buyers agents 3% commission. If the listing agent gets to represent both sides, they get “double” what they would have gotten (both sides). The buyer does not pay commission unless they specifically negotiate that as part of their purchase.
When you say you will pay the buyer agent's commission, are you paying that out of pocket or are you paying that out of your net proceeds when you wholesale the deal?
Great question! The buyer would pay it so it would be factored in to the deal. I could subtract it from my wholesale fee at closing or pass it on to the end buyer
Very dangerous for everyone to say that buyers agents will be compensated "differently " now. There is still cooperartive compensation that can be offered & negotiated.
@@investmentincii2770 never gave up buddy I have two closings today 😂😂😂 but I still stand on my opinion when I first started this it was easy but they are putting laws in place to get the job done but gooo knock them down buddy lol
@@investmentincii2770100% agree. First off there will always likely be states with zero or very little laws where the barrier to entry is easy. On the others well we have seen with zero barrier to entry 99% of people fail. So now there is something else to deal with before even getting to the sales and marketing. Most won’t even try. Unfortunately it’s likely it was the half hearted uncommitted trying of hundreds of thousands that create so many issues. So for those that adapt the opportunity is insane.
Buyers Agents were NEVER ‘entitled’ to ANY Compensation… ($0 or $1 is checking box based on old industry rules); It was simply customarily offered by the Seller (already factored in to List Price as part of the total costs to Sell) typically in range of
Like a typical agent on the titanic while it sinks you are missing the point. Now a buyers agent has to sign a buyer/broker agreement, discuss his/her compensation and who is going to pay it. That’s the point.
You are a realtor? If so, you must be one of those part timers! Since when did realtor fees get factored into the sale price when the buyer is paying full retail price? That just isn't correct! Your overpriced fees come right off the gross!
![6 Challenges to Overcome Wholesaling On-Market Properties [LIVE]](http://i.ytimg.com/vi/8apKWY0Douw/mqdefault.jpg)
![6 Challenges to Overcome Wholesaling On-Market Properties [LIVE]](/img/tr.png)
![How to Wholesale AFTER Getting The Contract [Step by Step]](/img/n.gif)
Thanks for inventing wholesaling, Jerry. You're a flippin' genius!
😂
Thank you so much once again, for explaining what is going on, so even simpleminded people like me can understand it. I am so glad you came up with this plan and hope it works. God bless you.
You're a flipping genius!
Hey thank you Jerry. I’m just getting into whole selling in Montana. I’ve watched a lot of your videos, got Gold on prop wire and I’m still struggling to expand my buyers list
Jerry you are flipping genius
Thanks Jerry!
Hey Jerry thank you for the new propwire gold membership ready to close more deals in Illinois!
You bet
Good info
Can we get another video of this broken down?
Jerry, we need a more breakdown. I stay in Florida where you say dual agency isn’t allowed and the amount of confusion this video gave me makes me scared to continue double dipping, like how do I factor in the price, how does the contract look, it’s questions we need answers too Mr. Flipping Genius
Very confused. At 4:20, you said the way it is currently is: Offer $100k. Seller pays $3k commission. Net proceeds are $97. Wouldn’t it be $94k net? You said they typically cover buyer and seller agent commissions. Watched this breakdown about 10x and still not understanding.
Yep, caught the same. $94 with double now we wholesalers have to pay to maintain liating agent relationship double dip, and "factoring in" 3k deal cost could mean net offer could NOT be 100k but 97k if wholesaler doesnt want to eat cost.
Hey Jerry, i think the video edit is the issue / confusion. Did you mean to say $3,000 to the BUYERS agent? Instead of Sellers Agent?
Both examples show 3k to the Sellers Agent and show nothing about the buyers agent side.
Perhaps that's a mistake??
So what you're saying in a state like Florida instead of complicating things just offer the listing agent to double dip just as you would in any other state where dual agency is legal and let the agent decide what strategy they want to use to double dip whether that's designated agency or transaction broker...they will figure it out and decide what to do, right?
Do I still need to find a buyer with this technique. I’m slightly confused
Jerry, I’m confused. You said the seller would net 97k. But would the seller net 94k being that they still have to pay that 3% to the sellers agent?
The list fee is there no matter what. The buyer agent fee is what’s up for negotiation
Hey Jerry by any chance do you do videos on how to get started in fix and flip?
Tons
Fix & Flip Investing
ua-cam.com/play/PLNDQ7qfA7mTjMPBPvKEO6VOtJVg0aW5AJ.html
@@FlippingMastery I’ve heard you say that real estate is like high school. You’ll have to wholesale first then work
Your way up, what if wholesale isn’t working for one, can they move up to fix and flips?
I’m confused about the calculation provided for the double dip in the new commission model. You said without the double dip the listing agent would get 3% from the seller. Then you said you would pay the 3% to the listing agent but this isn’t double. Do you mean you would pay 6% to the listing agent if they represent both sides in dual agency or transaction broker?
The listing agent already gets 3% (or whatever) from the seller. We have no control over that. What we have to offer/negotiate is the buyer’s agent commission
Me too..? I listened to that section of the video 4 times. What I got out of it was offer 3% less to make up for your buyers side expenses at closing.. I think?!?
@@FlippingMasterythat is what I assumed was the intent, however the graphic and description only mentions 3% and the seller netting $97k. It doesn’t, however, show both sides. The seller actually nets $94k after agent commissions, minus closing costs paid by the seller.
My broker doesn’t allow us to get paid from both sides so for us either the buyer or seller would have to pay the full commission or go with the referral option for the buyer side if we are the listing agent. 4:52
The seller is responsible for both the selling agents 3% commission and the buyers agents 3% commission. If the listing agent gets to represent both sides, they get “double” what they would have gotten (both sides). The buyer does not pay commission unless they specifically negotiate that as part of their purchase.
When you say you will pay the buyer agent's commission, are you paying that out of pocket or are you paying that out of your net proceeds when you wholesale the deal?
Great question!
The buyer would pay it so it would be factored in to the deal. I could subtract it from my wholesale fee at closing or pass it on to the end buyer
LET’S GO 🔥🔥🔥🔥
Yo Jerry what beat is that called you be using
Very dangerous for everyone to say that buyers agents will be compensated "differently " now. There is still cooperartive compensation that can be offered & negotiated.
Hi Jerry, How do I become a student?
Fasttrackwithjerry.com
@flippingmastery thank you so much I just closed my first deal thanks to you Jerry
Please
the Agents might be More inclined to Double dip every time every deal and act as both sides in every listing
Yes exactly
@@FlippingMastery which is why when I list a home I am going to specified 2k buyers agent flat comp only for dual agency situations to avoid this.
🌎👀"I know you invented wholesaling because I hooked you up with my house I was squatting in! World wide..🇺🇲
So you’re the one that invented wholesale 😳 I didn’t know that or is that even true
It is a lie. 😂
lol the video literally has text that says "Jerry didn't invent wholesaling"
You are great, but you did not "invent" the double-dip technique of using the seller agency as your buyer agent. Stop saying that.
Well if I say it long enough it will be true
hahahaha@@FlippingMastery , that's NOT true either. Besides that, keep rocking!
This video sucked Jerry. You’re better than this… No real value given. Felt too self serving.
Wholesale is almost dead they are making it harder and harder to the point that it’s not even worth the hassle imo
Not true at all. You gave up before even started. Wrong mind set . More deals for us. Thanks
@@investmentincii2770 never gave up buddy I have two closings today 😂😂😂 but I still stand on my opinion when I first started this it was easy but they are putting laws in place to get the job done but gooo knock them down buddy lol
@@investmentincii2770100% agree. First off there will always likely be states with zero or very little laws where the barrier to entry is easy. On the others well we have seen with zero barrier to entry 99% of people fail. So now there is something else to deal with before even getting to the sales and marketing. Most won’t even try. Unfortunately it’s likely it was the half hearted uncommitted trying of hundreds of thousands that create so many issues. So for those that adapt the opportunity is insane.
Limiting beliefs….. wholesale will be around longer than you will be
🤣🤣 You invented wholesaling huh 🤣😂 OK Jerry, time to get over yourself and you did NOT invent wholesaling but thanks for the info you share.
I think he was just joking dude lol
Maybe if I say it enough it will catch 😂😂😂
😂😂😂pete fortunato, jack miller, john shaub and many others.
If we’re being honest Jerry damn near did event wholesaling 😭 he one of the few who taught it correctly
Interesting comment…”Mr. Thinker.” Jest often escapes those who think the least.
It’s flipping genius Jerry!
Buyers Agents were NEVER ‘entitled’ to ANY Compensation…
($0 or $1 is checking box based on old industry rules);
It was simply customarily offered by the Seller (already factored in to List Price as part of the total costs to Sell) typically in range of
Like a typical agent on the titanic while it sinks you are missing the point. Now a buyers agent has to sign a buyer/broker agreement, discuss his/her compensation and who is going to pay it. That’s the point.
You are a realtor? If so, you must be one of those part timers! Since when did realtor fees get factored into the sale price when the buyer is paying full retail price? That just isn't correct! Your overpriced fees come right off the gross!
@@conniejones9674 based on what?
@@conniejones9674 based on what?