Q.
How are you different from realtors (Real Estate agents
or brokers)?
A. Realtors "list" properties and are paid
to find a qualified buyer for the seller. They charge
the seller a commission, usually 6% of the final sale
price of the listed property. Many realtors require
an exclusive listing agreement from the seller, meaning
that only the exclusive realtor gets to list the property
for a minimum of six months. The trouble with using
a realtor is that there are no guarantees that the property
will ever be sold. The average property listed with
a realtor takes several months to sell, and some take
over a year! Another problem that extends the time needed
to close a Real Estate deal is often caused by a clause
found in most standard New York Real Estate contracts.
This is the mortgage contingency clause, which basically
states that if a buyer and seller go into contract,
the buyer can pull out of the contract if he cannot
come up with the necessary funds to purchase the property.
After the seller accepts an offer from the buyer, the
buyer has until the closing date to come up with money
to close the deal. If he cannot come up with the funds
(because he is either not serious about the deal or
just not qualified) which often happens during transactions,
then the deal "falls through", and all the
time has been wasted for both the seller and the realtor.
This uncertainty causes great stress and anxiety for
many sellers. Usually a seller will not know the exact
amount they will receive for their property until the
day the deal actually closes – months down the
road. In New York, it usually takes at least three months,
from the time a property is listed to the time the seller
actually receives payment at the closing table. What
separates us from realtors is that we are NOT realtors:
We are a local network of professional
real estate buyers. We do not list properties or try
to find buyers -- we are the buyers. We do not charge
any fees or commissions, we just want to buy your property.
Unlike realtors who usually take quite a long time to
get your property listed and then bring offers back
to you, we can make you a fast cash offer within 48
hours, and we have the cash to close the deal in less
than 30 days! |
