In August of 2009, I was approached by a new construction builder who had a couple who wanted to purchase one of his new construction homes but needed to sell their own.
The home was only a year old and was purchased for 145,000.
I was told if I would buy their current home at a discounted price they would put me as the selling agent on the new construction home that had a commission of 5% and was a $220,000 home.
I put a contract on their home for 127,000 and requested closing costs. On the contract I put the buyer as my name or assumable. Within 30 days I had sold the contract to a prospective buyer I had been working with for 132,050. This resulted in a profit of 5,050.
I also received a commission check for the purchase of the new construction home in a gross amount of 11,000 that was shared with my real estate office.
As a courtesy, I assisted the buyer of the Woodland Hills home with contracting a remodeling crew to paint the home, and to re floor it. I did not charge for this but in 2011 the homeowner used me to sell and list the home once again for sale as his employer transferred him to Florida. This has a commission of 5%.
Total Gross Potential Profit (portions shared with Realtor Office): 23,450
This can be found here:
The home was only a year old and was purchased for 145,000.
I was told if I would buy their current home at a discounted price they would put me as the selling agent on the new construction home that had a commission of 5% and was a $220,000 home.
I put a contract on their home for 127,000 and requested closing costs. On the contract I put the buyer as my name or assumable. Within 30 days I had sold the contract to a prospective buyer I had been working with for 132,050. This resulted in a profit of 5,050.
I also received a commission check for the purchase of the new construction home in a gross amount of 11,000 that was shared with my real estate office.
As a courtesy, I assisted the buyer of the Woodland Hills home with contracting a remodeling crew to paint the home, and to re floor it. I did not charge for this but in 2011 the homeowner used me to sell and list the home once again for sale as his employer transferred him to Florida. This has a commission of 5%.
Total Gross Potential Profit (portions shared with Realtor Office): 23,450
This can be found here:
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