Charlotte NC Real Estate Investors F.A.Q.

Q- How do I know that I am getting the first opportunity to buy a property, and that you and your business associates aren't keeping all of the good deals for yourselves?

A- Good question. As a licensed Real Estate professional, each agent of Box Realty has a fiduciary duty to you that is outlined in Paragraph Seven of the Exclusive Buyer Agency Agreement. It denotes ethical and honest dealings with clients. That brand of behavior would violate that contract, and be subject to disciplinary action by the Real Estate Commission and State of North Carolina. You will ALWAYS have first opportunity.

Q- Can you help me set up a corporation or LLC? And what about Tax set up?

A- I apologize, but the answer to your first question is, no. We, as a real estate firm, are only permitted to provide services for real estate acquisition. It is illegal for us to give advice outside of our realm of expertise, such as practicing law, etc. We do, however, know many attorneys who can assist you in those types of dealings.

Regarding tax set up, we must also refer you to someone like a CPA, who can better assist you in making those types of decisions.

Q- What does it cost to be a client?

A- Usually, nothing. We don't charge any upfront fees or retainer fees, and we get our commission from the seller and their agent in the transaction. If you are ‘flipping’ properties and you want us to list the parcel at resale we will gladly negotiate the listing commission with you. You’ll find that we are very aware of your goals when setting the listing fees and will work with you should you find yourself in a “tight” deal.

Q- When I sign an Exclusive Buyer's Agreement with you, what happens if I buy a For Sale By Owner (or find another property that I buy from someone else)?

A- Because we are still spending hours each week searching for properties for you and earning our commission, you will be liable to us for the commission that we would have earned on the sale, generally 3% of the gross sales price. We will expect to receive that amount from you. When you sign the agreement, you are stating that if you purchase investment property in Mecklenburg, Gaston, Cabarrus, York, or Union counties during the term of the agreement, you will purchase through us. We want to be your Realtor, and we expect to have your loyalty in our relationship.

Of course, you can count on us to continue to perform the same duties for you on this type of purchase that we perform for a listed property.

Q- What about repairs to a property?

A-We can arrange for you to use the Contractors that we have relationships with, who are in good standing ethically with us. You can also use anyone that you might know. We can arrange or schedule meetings, and will be more than happy to be there whenever someone is contracted to perform repairs, inspections, etc., at your property.

Q- Can I get a copy of the Buyers Agency Agreement that I must sign?

A- Gladly. We can transmit by fax, email in PDF format, or even mail. Or, if you are in the area we will be glad to drop one off to you. Just contact us and let us know you would like to look it over. In the future a copy will be available on our website: www.BoxRealtyOnline.com

What this means for you…
1. We do most of the legwork.
It takes on average 30 hours a week to find, research, compile, and send all of the necessary paperwork to investors to find, at best, 10 worthy investment properties. These are hours you aren’t spending. It would probably take someone without the tools, developed technique, or practice two or three times that amount. That doesn’t leave much time to do anything else. But, it is good to do research on your own in the areas you are focusing on.
2. We supply extensive knowledge and resources.
Access to the tools we do costs thousands per year to maintain. These tools and resources, such as the Multiple Listing Service (MLS), also take much time to learn how to use effectively. Not to mention our Real Estate education. We also have relationships with Attorney’s, Inspectors, and Contractors. This is time and money you don’t have to spend.
3. You find properties and process transactions more quickly than doing all the work yourself.
4. Your time commitment is minimal (5-15 Hours per week).
5. You are your own boss and can dictate your level of success.
6. By utilizing our expertise and resources you have full-time advisors. This means you don’t have to research answers yourself, or if you do, we can point you in the right direction.