Offer Accepted! #4

Scott Costello Blog, Featured 6 Comments

Offer Accepted!

On Monday night, my partner informed me we got another offer accepted!!!  It was with a listed house this time though, so this will be new territory having to deal with a listing agent now.   Yesterday my partner met with the listing agent and got all the paper work signed and now we are headed towards attorney review.

This lead was referred to us by another member of our coaching program so we will have to pay out a referral on this one.  The thinking is some where in the neighborhood of $500 to $1000 depending on what we can sell it for.  There is a timing complication with this lead and the referral though as we actually had the lead in our system but had yet to mail to it.  The sequence of events went like this…

  1. We Pulled the lead from the tax records
  2. Printed out our letter
  3. Got the referral from another investor who put us in contact with the Realtor
  4. Mailed our letter

So we were in the process of sending out our first contact with this seller as we got the referral.  My parnter and I decided that we will consider this lead as being referred to us because we only “knew” about the lead before hand, but got direct contact with the Realtor because of the referral.  Seems to be the fairest thing to do.  What do you think??

 

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Comments 6

  1. Yes, you got the property under contract because of the referral, not because of a mailing, so the right thing to do is pay the person who referred you to the property. Good luck with the wholesale!

  2. Hey Scott, congrats on the offer being accepted. Whenever possible, take the high road and pay out what you need to pay out to keep the referral stream going. The same referrer could be the source of many thousands of dollars in the future. Seems like you did the right thing in my opinion, nice work.

    1. Post
      Author

      Thanks Mike,

      I always try to do what is right because that is the way I would want to be treated myself. Having a good reputation is the most important thing for me and if anything I’d rather over deliver then give what is expected.

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