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I have had several other Realtors ask me to market their properties for them. My background is marketing and I have extensive internet skills (at least compared to most of them). I'm very busy but working with buyers more than sellers, so I don't have a problem doing this. I already have a list of 20 things I do when I market one of my listings, so I can just do the same for them. This might include entering their listings into the MLS. Please give me your opinions on a couple things:
1. If I enter the info. of a listing for another agent, will I be accepting any liability for the info.?
2. Same question for the marketing with the info. they supply me. I realize I should have the disclaimer on the ads but I know that doesn't always cover things.
3. How should I charge for this type of help? It was suggested I have a menu of services and charge per item. What would I charge? Or is there a better way?
I have had several other Realtors ask me to market their properties for them. My background is marketing and I have extensive internet skills (at least compared to most of them). I'm very busy but working with buyers more than sellers, so I don't have a problem doing this. I already have a list of 20 things I do when I market one of my listings, so I can just do the same for them. This might include entering their listings into the MLS. Please give me your opinions on a couple things:
1. If I enter the info. of a listing for another agent, will I be accepting any liability for the info.?
2. Same question for the marketing with the info. they supply me. I realize I should have the disclaimer on the ads but I know that doesn't always cover things.
3. How should I charge for this type of help? It was suggested I have a menu of services and charge per item. What would I charge? Or is there a better way?
Thanks for the help! Any other ideas are welcome.
It might be overthinking, but I think you need a legal contract, not just a casual work arrangement
You would want them to indemnify you against possible claims when you are accurately posting what they give you.
Same answer on the marketing.
Rapture, do a google search of Virtual Assistants. Some just do marketing for Agents and you may be able to find what you are looking for there. Some will do an hourly charge, others will do a fee that is due on closing. Also, you may want to get in the habit of calling them Real Estate Agents. Realtors are REA that are members of NAR. But not all REA are Realtors. You don't want to limit your business to just Realtors... you may want to work with all AGENTS and BROKERS!!
Why don't you market the properties for them, but have them agree to let you put your number, email, etc as the contact info, so you can bring the buyer if they call off the ad.
I'm actually going to revisit my post again. I think you should definitely just take the listing (if they're willing) and pay them a referral fee. If they are to incompetent to market their own properties they probably shouldn't even be allowed to work with the sellers.
Brandon, I don't know that they are incompetent but my background is marketing and web design so I have a lot more internet skills than probably the average agent. The ones that know me, know this and want to utilize my skills and pay me for it. I just don't know how to charge. Also, they are very busy agents with a lot of listings and maybe are considering getting an assistant but if I help with the marketing than they won't have to. I won't have all the responsibilities of an assistant, just do the internet and some print marketing.
I was thinking about creating a "menu of services" with a charge for each. They can select what they want me to do and then pay me for what they select.
I was also thinking of asking for a small percentage of the sale and just do everything that's on the menu of services. I would probably make more money this way but I also risk not getting paid at all just like the agent who has the listing.
I guess I could do it both ways and offer the agent their choice. What do you think about this? What percentage would be fair? I know it depends on what I do for them. I could offer everything from entering the listing into the MLS to adding the site on 20-30 web site, plus I have about twenty other things I do. They are on the menu of services.
As far as the liability, maybe I could have the listing agent sign something saying that they will take all responsibility. I could sign something saying that I will only use information provided by the listing agent? I guess that's a question for an attorney.
Last edited by Global Friend; 09-11-2008 at 04:31 PM..
Why don't you market the properties for them, but have them agree to let you put your number, email, etc as the contact info, so you can bring the buyer if they call off the ad.
Actually, I already do this and I do get calls and emails for those listings. I've also had people sign onto my web site because of those listings.
The OP was because people are approaching me to advertise for them and want to pay me. So I could do it both ways. It would be kind of like a part time job.
Brandon, I don't know that they are incompetent but my background is marketing and web design so I have a lot more internet skills than probably the average agent. The ones that know me, know this and want to utilize my skills and pay me for it. I just don't know how to charge. Also, they are very busy agents with a lot of listings and maybe are considering getting an assistant but if I help with the marketing than they won't have to. I won't have all the responsibilities of an assistant, just do the internet and some print marketing.
I was thinking about creating a "menu of services" with a charge for each. They can select what they want me to do and then pay me for what they select.
I was also thinking of asking for a small percentage of the sale and just do everything that's on the menu of services. I would probably make more money this way but I also risk not getting paid at all just like the agent who has the listing.
I guess I could do it both ways and offer the agent their choice. What do you think about this? What percentage would be fair? I know it depends on what I do for them. I could offer everything from entering the listing into the MLS to adding the site on 20-30 web site, plus I have about twenty other things I do. They are on the menu of services.
As far as the liability, maybe I could have the listing agent sign something saying that they will take all responsibility. I could sign something saying that I will only use information provided by the listing agent? I guess that's a question for an attorney.
Wow, I wish you were in AZ! It sounds like you do an invaluable service and should be paid well for it. Just remember that.
Last edited by Global Friend; 09-11-2008 at 04:30 PM..
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