Realtors and Modular Homes

By
Real Estate Broker/Owner with Weaver Realtors B55786000

I have a few questions for the REALTORS out there who are also Exclusive Listing Realtors for a modular home company or builder. How do you work with the other REALTORS if you are a member of the local MLS? Our brokerage, Weaver Realtors, is the exclusive listing company for Storm Lake Custom Homes here in Storm Lake IA. The modular homes are built through Storm Lake Custom Homes, which is a separate company. Storm Lake Custom Homes represents All American Modular Homes. 

Most of the modular homes are not sold through the MLS, as they are custom built specifically for a buyer. We have had REALTORS call and ask if they brought a buyer in what would they get paid. Would a finders fee be reasonable, it would not be paid until the home was complete. How would you determine the finder's fee if that is something you would do? 

 

 

 

Posted by

Georgia A. Weaver, GREEN, CNE, CRS, GRI, 
Broker Owner and Iowa Certified General Contractor

Weaver LLC Realtors
"A Promise Made is a Promise Kept"

607 Lake Avenue
Lake Avenue
Storm Lake, IA 50588
Office 712-213-4663 (HOME)
Direct 712-291-0118

www.WeaverRealtors.com

BUY - SELL - INVEST
Visit our Design Center

 

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ETHICS and the REALTOR
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Tags:
builders
mls
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modular homes
storm lake
georgia weaver
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Rainmaker
855,169
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

In CA if you are dealing with mobil homes you have to have a different lic.  So I do not do them.

Sep 16, 2013 03:34 AM #1
Rainmaker
91,382
Georgia Weaver
Weaver Realtors - Storm Lake, IA
A Promise Made is a Promise Kept! 712-291-0118

Hi, these are not mobile homes they are modular, stick built but not site built. They are built in a factory and placed on a foundation on a buyer's site. Thank you for the comment.

Sep 16, 2013 04:41 AM #2
Rainer
4,194
Ben Watt
Indianola, IA

That is an interesting situation.  Do you collect a commission on each home sold?  If so, what percentage?

Oct 27, 2013 09:22 AM #3
Anonymous
Georgia Weaver

Ben,

Thank you for the response and question. We do not collect a commission on each home, we do collect a fee, the fee is determined by how much time the brokerage has invested into the buyer of the home. Our brokerage is the exclusive representative of these homes for Storm Lake Custom Homes. I know a finders fee is not how another brokerage wants to get paid, but the agent/broker is risking not making anything if the buyer comes directly to us because they want to build a modular. I like the idea of a fee but do we call it a finders fee and what should that amount be?

Oct 29, 2013 03:08 AM #4
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Rainmaker
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Georgia Weaver

A Promise Made is a Promise Kept! 712-291-0118
Ask me a Storm Lake IA area real estate question.
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