Download Article
Download Article
Finders work as intermediaries, connecting sellers to buyers of property, and are not realtors. In some housing markets, particularly those that are extremely depressed, some homeowners are willing to pay finder’s fees to people who are able to connect them to buyers. Keep in mind that in hot property markets, it will probably be almost impossible to do this kind of work because homeowners will have an easy time finding buyers.
Steps
-
Look for property that is for sale by owner. Real estate that is represented by a realtor will not work if you are trying to get a finder’s fee. The realtor essentially takes your place as the intermediary. You might find properties for sale by owner on websites like Craigslist or other classified real estate sites. You also might find property by driving around neighborhoods that you think have potential.
-
Contact the owners of the property. Some owners are explicit that they will offer a finder’s fee in their advertisement. Call or email them for the exact details of what they would pay and how they are hoping to move forward. Others are not explicit about whether they would pay you-- contact them to ask if they would pay a finder’s fee. [1] X Research sourceAdvertisement
-
Sign an agreement. Make sure that you have in writing that the customer agrees to pay you the agreed upon fee once you have provided the service and the property has successfully been sold. Always negotiate your rates before you begin to locate properties. It might be a set amount, or it could be a percentage. Keep in mind that that without a contract, you probably have no legal recourse if the seller decides that he or she does not want to pay your fee.
-
Inspect the property. For those owners who have given you permission to try and find a buyer, inform them that you want to see what their property is like so that you have all the available information. As you’re touring the site, take notes about the features. Ask permission to take photos.
Advertisement
-
Reach out to the investors and potential homebuyers you know. Tell them about the property and show the photos. Talk to them about what they are interested in purchasing so that you can keep looking for their criteria in the future. [2] X Research source
-
Set up a website. Create a website with the properties for which you are attempting to find interested buyers. Include well-written descriptions of the homes and photographs.
-
Advertise the properties. Post them on the classified websites with links to the descriptions and photographs on your website. Consider posting the information in the local Sunday paper real estate section. [3] X Research source
Advertisement
-
Introduce the interested buyer to the seller. If all goes well, you have facilitated a sale. Hopefully your work is done at this point. If the sale falls through, however, you’ll be back to work finding a potential buyer to introduce to the seller.
-
Collect your fee. If your introduction was successful, you will be getting paid. Depending on how you have created your written agreement, you will probably get paid when the sale goes through.
-
Continue talking to other interested buyers and sellers. After the introduction, your work is done. Now you need to be moving on to the next groups of buyers and sellers.
Advertisement
Community Q&A
Search
-
QuestionHow can I do this without a license to practice real estate?Community AnswerA licensing board cannot regulate the agreement between two non-licensed individuals.
-
QuestionWhere are some good leads in finding homes for sale by an owner?Community AnswerCraigslist is a good place to look for listings that have been unsuccessfully sold for many weeks or months.
-
QuestionIs it a good idea to join an online group that provides videos and support for getting started (for a fee)?Community AnswerYes, it is. Joining a community of other property locators can give you a good opportunity to find advice on getting started.
Ask a Question
200 characters left
Include your email address to get a message when this question is answered.
Submit
Advertisement
Tips
Submit a Tip
All tip submissions are carefully reviewed before being published
Thanks for submitting a tip for review!
References
About This Article
Thanks to all authors for creating a page that has been read 90,488 times.
Reader Success Stories
- "I have a little knowledge now of how to begin. I'm not in a financial position to pay for training or materials to get the "secrets" of how to do this. It's nice to know that their is a website to get information for free." ..." more
Advertisement
82%
of readers found this article helpful
.
Click a star to add your vote
% of people told us that this article helped them.
"I have a little knowledge now of how to begin. I'm not in a financial position to pay for training or materials to get the "secrets" of how to do this. It's nice to know that their is a website to get information for free."
..."
more
"The whole article in itself stood out for me. I especially learned a great deal in Part 1: finding property, because I initially thought that getting a realtor involved would be good for the both of us."
..."
more
"Everything I needed to know was all there. Step by step for free. There's actually companies out there charging $200.00 for the same information."
..."
more
"I was unsure that this even existed. The steps were very simplified and basic. They did lack a little more substance."
..."
more
"I am trying to get started as a real estate finder, and the article goes into details. "
