Comments on: INBOX: Best Brokerage in Seattle to Work For?

By: ARDELL

ARDELL — Fri, 04 Aug 2006 03:51:13 +0000

Ciadelle,

You can try Skyline Properties. Not sure if they will do it, but they have a low monthly desk fee. Check several of the offices as they have different owners and different rates.

I’ve received emails from the one in Kirkland touting monthly desk fees of only $300 – $400. The broker has to make something, so if you want no desk fee and only buy a property for yourself once in a while, it may be hard to find a broker. But generally Skyline is fairly flexible as long as you pay your desk fee, from what I’ve heard. No personal experience there, but some of our agents came from there.

By: ciadelle

ciadelle — Thu, 03 Aug 2006 21:52:55 +0000

Hello, I’m an agent in Clark County (Vancouver, WA) area. I obtained a license for personal investing purposes. I’m now interested in investing in the Seattle area and am in search of a broker in the area. I’m looking for a smaller office with an attractive agreement for investor agents. Anyone come to mind?

By: Eileen

Eileen — Wed, 26 Apr 2006 00:43:29 +0000

Ardell,
Happy to have your recommendation, Ardell. Love to work with him.
We always love to interview agents no matter what their specialty.

re:closing. I know we don’t get access to the HUD until the loan docs hit escrow, but I don’t see why the lenders can’t send a preliminary good faith prior to doc draw. Seems like taking that extra step would solve alot of last minute scrambles for money, issues with homeowner dues, etc. I’d like to hear from lenders whether or not that feasible.

By: ARDELL

ARDELL — Sun, 23 Apr 2006 23:45:57 +0000

Tim, I’d like to note that I, personally, frustrate escrow to no end by refusing to do the commission disbursement form until I see the HUD 1. A buyer must know their costs up front, so I do them up front and then put my money where my mouth is by paying the difference, if any, from my commission. So I can’t do the commission disbursement until I see the HUD 1.

Also, I don’t know what I have “earned” until the end, so I can’t “settle up” what my commission will be until the end of the game. Just yesterday the escrow company I use said, “You know we LOVE you Ardell, BUT this no commission disbursement until the bitter end is killing us!

I guess we’ll just have to figure out a way to get that Buyer Agent fee over to the buyer side of the transaction where it “belongs”, so I’m not holding up the seller too.

By: ARDELL

ARDELL — Sun, 23 Apr 2006 23:38:22 +0000

If the agent will be doing a lot of personal buying and selling, then he needs a small desk fee office, $299 a month, like a Skyline. Don’t expect the world for $299 a month vs. a big split company. Big split companies generally only allow you one freebie, your own property, a year. Also, watchthe E & O issues. Owner/Agents are often not covered by the E & O insurance on properties they own.

Clearly if I were this investor agent, I’d be hooking up with Eileen, if she’ll take him under her wing.

By: Tim

Tim — Sun, 23 Apr 2006 21:03:59 +0000

Very tough one to answer, but I imagine that some companies are much more conservative than others when it comes to agents purchasing property for personal investments vs. investments for others. Off Topic: I know many agents frequent this blog so I wanted to get some feedback on an article in today's Seattle Times paper by Ken Harvey. Title of his article is "The #1 Agent complaint via a national survey: failure to see closing numbers (settlement statement) until final day frustrates agents." see it at The Closing Table Blog