I got a call yesterday from a gentleman saying he saw my listing and wanted to put a contract on it. I'm saying, Great! Do you have an approval letter, or are you paying cash? He responds that it'll be cash. Great! Can I get a letter from your bank showing proof of funds. He says that's not a problem.
He tells me he's in Phoenix right now, but will be back in Dallas in 10 days at which time he then wants to look at the house before moving forward. I explain to him that there has been a lot of activity on the house and I can't take it off the market to wait 10 days for him to come into town, but that I'll call him if I receive another offer before he gets to town. He appreciates that.
Then, he talks further about how he's taking classes to get his real estate license. I'm thinking, the smart thing would be to wait until you have the license before buying so you can collect the commission, but didn't say that. He also mentioned it had been hard taking all the classes because he wasn't sure about quitting his job. I then spark up and say, Hey! I've got an idea. When you get your license, if you want to continue to work full time, you can pass off any potential buyers and sellers to me and I can pay you a referral fee!
His reply was, "Yes, this is a referral deal." I say, excuse me? He says he wants a referral fee for the purchase because it's his friend wanting to buy the house. OHHH, you're not the buyer?? No, he's calling for his friend. OK, in the state of Texas, I cannot pay you a referral fee without a valid, active license. He asked if I could pay it afterwards. I asked what they were teaching in real estate school these days. WOW!
Anyway, I explained how it was illegal. I also told him I would talk with the seller about potentially buying the title policy for the buyer as that would help the buyer with costs. He sounded excited about that and he said that was nice of me to offer to help the buyer like that. (Sellers paying for the title policy is almost customary in my area, but he doesn't know that).
We'll see if I can get this house under contract... 9 days left before they get back in town. Oh, and before we hung up, he asked if I could email him any other homes in the area under $300k. I told him I needed to talk directly with the buyers before moving forward. Everyone is always looking for their piece of the pie even if they don't deserve it...