Chris Vigil: Choose a real estate agent like you would a doctor
https://www.whittierdailynews.com/ci_18138999
Posted: 05/25/2011 08:29:35 PM PDT

Summer is coming and with it brings a lot of activity in the real estate business. Most families put off buying or selling until the school year is over so they don't interrupt their children's lives moving into or out of a home.

While most people put a lot of thought into choosing their doctor, lawyer, CPA, etc., most don't think twice when it comes to choosing a Realtor. While the real estate profession is easy to get into, it is far more difficult to stay in. Realtors have taken a beating over the last few years as culprits in the downturn of the housing market.

Mimi Foster has a great article and I posted it on my website. Additionally, I am going to use it as part of my "Needs Analysis" when meeting with prospective buyer clients who may want consulting instead of a salesman.

https://activerain.com/blogsview/2309379/what-realtors-do-for-buyers

I did this video last month, before I became an ACRE. It might help others to make a video for their marketing. It should not be more than 3 or 4 minutes.

http://lesterlangdon.wordpress.com/2011/04/02/how-to-choose-an-agent/

Windows oper system has "Movie Maker" which is a good simple FREE editor. You do not need to be handsome and good looking.

Would like to start a dialogue to brainstorm about how we might "Strategic Partnerships" to market our services a real estate consultants.  My first thought is to help buyers and of course charge the buyer a consulting fee as services are performed. Upon closing, I, as consultant and broker would authorize the title company to give buyer broker commissions to the buyer.  As part of my written buyers agreement, the buyer would agree to give a small donation to the strategic partner.  It might be a donation of $100 or even $500 dollars to the strategic partner, which ever amount has been discussed witht th strategic partner and is agreeable with the buyer.

Possible strategic partners could be non-profit organizations, associations, religious organizations, credit unions, etc. The benefit to a credit union or other lender would possibly be funds going to the buyer for a larger down payment. The Freezman might know about this. Do lenders allow the commission rebate to be applied to the down payment? Must it be disclosed in advance?

The strategic partner is going to be concerned about lending their name to a for-profit endeavor and would be concerned about reputation, therefore a good plan must be developed and well presented to the strategic partner. It must look reputable and well planned.

It mighy be a good idea to put a link button on my website entitled "Strategic Partnerships"

Would like to start a continuing dialogue on this subject. Your thoughts please.

Here is link to Inman study on real estate agent compensation.

http://www.inman.com/reports/compensation2011/

Tax reporting for commission rebates

In today's difficult housing market it has become commonplace for brokers to offer buyers a cash rebate of a portion of their commission. A common question many brokers and buyers have is whether such rebates are taxable income that must be reported to the IRS on Form 1099-MISC. The answer is no.