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First and foremost, isn’t this funny that the email they sent to you says extremely off market all caps? And they said no cap, just all caps, extremely off market. But it weirdly is tied up with a broker. Does that guys? Do we does anybody know what that means? If it’s tied up with a broker, what does that mean? It’s not off. It’s not off market. I don’t have the ability to talk to the seller, somebody has a legal arrangement, a listing agreement with that seller, I don’t agree with that strategy of let’s call the seller directly, guys, not somebody in between, right? It’s not I don’t agree with that. It’s not okay. And here’s the thing, even if you write a contract with that seller, and that broker gets pushed out of the way, guess what is legally required to happen?
He gets paid, the broker gets paid, he gets paid, regardless of any agent in here, you tell me if you’re an agent in here, do you think that that’s morally okay for a wholesaler to call your seller behind your back? Would you be okay with that? Would you not? Would you not think that that’s a moral disruption in the world? No, I would not be okay with that. It does happen all the time. But you know what, so does bank robbery and theft, drug use all sorts of other things happen all the time, but I’m still not participating in any posts. Right? Okay, so we do not do it. In our group. We don’t call it we don’t call sellers directly. We don’t go around agents. How do we handle those deals with agents guys, we wait for the deal, or the listing to go expired? And then we call the seller? Do you have to wait? Because, um, I think in some of the contracts, the listing agent, even though it’s expired, after like, a couple months, they can still get a commission. Yep.
So here’s the here’s the challenge. So guys, everybody pay attention to this, this is the end all be all to this, okay, there is a listing agreement, and every agent has a standard listing agreement, however, they then go and choose to alter those based on their level of experience. Some agents don’t even know they can alter their listing agreement. Other agents are pieces of crap, and are continually getting in situations with sellers, that they’re not selling their sellers property. So that what they do is they put their listing agreements together to say that there’s a period even after the expiration date that I still get paid, even if you go sell it three months after I finish it. And typically, the agents that I see doing that are the ones that are locked, or they’re going to a seller, and saying I can sell the property for what you think it’s worth, give me a chance, give me a chance, give me a chance, then they get them into a listing agreement, and they know they’re not going to be able to sell it. But they also know that after they’re done after six months, the seller is going to go sell it on their own and the agent still gets paid. Okay.
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The listing agreement is not public record, okay, is not public record, we have a deal in Vegas going on and that we asked the seller for their listing agreement, and the listing agreement stated that if the seller wanted to cancel, the seller would have to pay the agent $500 as a severance fee. And I told the seller, I will pay your $500 severance fee cancel with that knucklehead right now, legally, and I’ll move forward with you. So you you need to access that listing agreement, guess who has access to it, the agent or the seller? So if you get ahold of a seller and they’re listed, then tell them hey, I might be able to buy it, but I don’t want to pay your agent. I don’t want to go through your agent. So let’s figure out how you can end this listing agreement and then I can work with you.
Yeah, either sold out for you or I didn’t. Right. But again, you do what you want to do with your vision, your your business, I’m not an agent. I’m just saying I would never never never go around an agent I respect that relationship. So Joey clearly asked them hey, sounds like a stupid question. But I just want to make sure is this listed with a broker and this is experienced that you just learned that even though they told you with extreme exclusive off market guys literally I want to show this to you because it’s like comical the words that were actually used on this deal. I want to take the address off of it so you guys don’t see it. But you tell right here. What does that say on what does that say on my screen? Exclusive and extremely off market portfolio of four Southeast Georgia mobile home parks. Right. Okay.
So can you please make sure Joe and just as a form of habit habit. Now, you confirm is this listed with a broker? Or or ask stupid question. It’s like you kind of have to expect other people to just not know, right? So I would ask the question, is this directed? Are you directly communicating with the seller or is this going through a broker? And I think that’s probably a better way to ask the question.