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Make Money Locating Property For A Finder's Fee

By Edited Nov 13, 2013 0 1

Make Money Finding Houses For Brokers

You can make good money working from home as a House Finder who finds houses for brokers, agents and those who buy houses.  Even with the housing market bottoming out in 2008 and beyond, you can still make very good money locating property and getting a finder's fee.  The demand for House Finders will increase among Real Estate Agents and Brokers.  Right now, most House Finders work for the "we buy houses" industry.

 

What Exactly Is A House Finder or Locator?

House Finders find property and get a commission either once the property is sold, or they get an up front finder's fee for locating a specific type of property.  The buyer may have very specific characteristics that they need you to find.  It could be anything from distress houses, to homes where the owner lives out of the country or out of the state, to homes where people have just recently died and the family may be looking to sell the property.  You locate the type of property the buyer is looking for and get paid for your finding, skip-tracing skills.

 

For Sale By Owner Sign

How Much Money Do People Who Locate Properties For A Finder's Fee Make?

Home finders typically get a finder's fee depending on whether or not you have met the specifications outlined by the buyer.  Finders fees can range anywhere from $25 to $1000 depending on what your agreement states.  You may have a written agreement with a buyer if you do business with this buyer often or you may do it with a verbal agreement.  It is always wise to get a written agreement even if your contact with a particular buyer is only one time.  You are in business for yourself, and you need to have accurate records for taxes and if legal issues arise. There have been advertisements saying that House Finders can make $3000 to $15,000 per month looking for houses for sale or finding specific types of houses even if they don't have a for sale sign for your buyers. Some finders who negotiate a percentage fee after the property is sold, can get paid higher profits.

 

Do I Need Any License To Be A Home Finder?

The only licensing you need for a Home Finder's business is just whatever is necessary to operate a business in your state.  Other than that, you really don't need anything else to operate on Home Finder's business.

 

How Can I Learn More About The "We Buy Houses" Industry?

In order to understand the House Finder's job and the industry of finding homes for sale and getting a commission for finding it, you can read books about "we buy houses."  They are the ones who mainly use Home Finders, although Brokers and Agents are now utilizing Home Finders in their Real Estate businesses.  "We Buy Houses-Real Estate Investing With A Revelationary Edge" is a good book to get you familiar with the "we buy houses" market. You can get this book from Amazon.

 

We Buy Houses - Real Estate Investing with a Revelationary Edge

 

What Should I Do To Get Started As A Property Locator?

First you should set yourself up as a legitimate business.  Think of your business name, register your business and get business cards printed up.  Vistaprint.com gives you low cost or free business cards. Make sure you have a computer, even a small one, a dedicated phone line (a cell phone will also work), and a space where you work. 

Then you start looking for potential clients by going through your newspaper or riding through your neighborhood looking for "we buy houses" or "we buy UGLY houses" signs. Copy the business's contact numbers.  Call them and tell and find out whether or not the need House Finders.  Call a few of them because you can work jobs simultaneously. 

 

Can I Do Anything Else If I Get Sick Of Being A Property Locator or House Finder?

There are several places you can go if you want to advance your career.  You can go to school and get your Real Estate license and become a realtor. broker or an Agent. You can become a skip tracer professionally where you help find missing property or missing people.  Often, when you find property that has been abandoned or the owner lives out of state or even out of the country, it takes some really great skip-tracing skills to find these people.  Those skip-tracing skills can help you branch out into other professions that a similar to house finding. You can also start your own "we buy houses" company and make the same good money your clients have been making buying houses cheap, flipping them or renting them out for a huge profit.

 


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Employment

Printable Online Job Applications

 


 

Useful Resources

Can I Legally Recieve A Finder's Fee For Locating Property?

How To Start and Operate A Finding Service


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Comments

Feb 6, 2012 1:34pm
mosilager
Interesting concept, never thought skip-tracing could pay so much!
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