Realtor tries screwing me over

@hold_my_hand_wholesale

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Selling · Agency / Service

Hold My Hand Wholesale

https://linktr.ee/holdmyhandwholesale ↗

Why it worked

The video provides high-stakes, authentic drama that appeals to viewers interested in real estate investing, while subtly establishing the creator's authority in the industry.

Summary

The creator records a tense phone call with a realtor who is attempting to force the buyer to pay commission fees that were not in the original agreement. The creator stands firm on his position, citing the legal terms of the listing agreement and his lender's guidelines.

Structure

1Creator introduces the conflict with a realtor
2Realtor claims the buyer must pay commission
3Creator disputes the claim using the listing agreement
4Realtor insists the deal is ready to close
5Creator refuses to pay the commission and ends the call

Product placement

The creator's brand 'Hold My Hand Wholesale' is visible on the neon sign in the background, reinforcing his identity as a real estate wholesaler.

On-screen text

Realtor tries screwing me over $89,000 7 beds 3 baths 2,000 sqft 13605 Tacoma St, Detroit, MI 48205 Why not? Realtor: Because the title company can't get a hold of the lender to balance numbers. Oh, the lender told me- The lender told me he could fund tomorrow no problem? *sensing some BS coming* Well they still- they can fund, but they have to respond to the title company to balance numbers. Let me give him a call. And then umm- I just wanted to make sure, because, you know, when we did the purchase agreement, the buyers paying closing costs and commissions. Now, understanding that the- the commission — from what I told my lender — is coming out of the $58,005 (my down payment) The buyer is assuming that that's not coming out of the seller's proceeds. The buyer took that on. TThat's why we agreed to what we agreed to, um, (Abdi is wholesaler) and lowered it. But when Abdi took it on, it is the buyer to pay for the closing cost and commissions. Well, what my lender's gonna fund is gonna be. He's gonna fund $60,000. $1500 of that is gonna go to Abdi, and then you guys are gonna get the 58,000, and And however the $58k is split up is gonna That's not how it works. That's not. No. The purchase price was $58.5k And the (buyers) paying closing cost. Yeah. Yeah. Title fees Yeah. Closing costs and commissions. Well I'm paying all the- my lender's not gonna be- His lending guidelines are he doesn't pay brokerages. Essentially what's happening is- Well, it'll be in- So it's gonna be in your closing cost and it'll be in that breakdown. But. No, no, no. You signed an agreement with your seller saying that the nature of your listing agreement quite literally states that your seller is paying you out of the proceeds. No. I So when you signed a listing agreement with the seller, the listing agreement said that the buyer is going to pay the commission? Cause that's not how real estate works in the United States. Hold up- wait, how does what not work in the United States? Your commission as a Realtor comes out of the purchase price. The listing agreement that you signed with your client states that your proceeds come out of the sales price that they get. My lender- my lender. No. That's not Okay, well maybe the deal is dead then. My lender is only going to be funding 58k, and the $1500 assignment fee, The closing costs the title fees. Yeah, I'll pay all the title fees, absolutely. But I'm not paying your commission. All I can tell you is I'm gonna call my lender right now We're gonna fund 58k. I'm not gonna pay your commission. Well, then we're gonna have to figure something out. And when we say figure something out, it means that you abide by the listing agreement that you signed with the client. Yeah. Yeah. I am abiding by the listing agreement. And the listing agreement & the PA states that Abdi signed by law that he is paying for the closing cost and commission. No, I'm gonna pay the closing cost here. I'm not paying any sort of commission. Well, we can't negotiate that now! It's not a negotiation. That's what I agreed to. I agreed to pay closing cost. But. But the thing is, my lender is. My lender is not going to be funding commission. It. It is what it is. We're clear to close. We're ready to go- It is what it is on this. I have a quick question. When you approached your seller and you said, hey, I'm gonna sell your house for you, you came to the seller and you're like, but you don't have to pay any commission..? No, I came to the seller, and we made an agreement on what we made. And your buyer came in, and the buyer stated what he wanted to do. So that kind of- I'm the buyer. I'm the buyer. The buyer of the who- came to me originally That's what I'm trying to explain. And I don't wanna, like fight. I'm just trying to tell you what we have legally and logistically is that when you sign a buyer's agency agreement, you sign a purchase agreement, things do change! Because just like if I tell a seller I'm gonna sell your house for $200,000, and then you come to me and say I'm gonna buy your house for $210,000, that changes the original agreement between me and the seller. Okay, well all I can tell you if it- you know, if it falls through, that's gonna be okay with me. All I can tell you is that I'm ready to close tomorrow at $58,500 And closing costs if there's any fee that you need. If there's any fee that you need above that, it's gonna be coming out of the seller's proceeds. And that's not Okay, I'm gonna call my I'm gonna call my lender now. There's nothing I can do to change this. Um, talk soon, though, okay?

Original caption

Neither myself or the wholesaler have ever spoken about buyer paying commissions. Realtor breaks this to me the day before close #fyp #realestate #LearnOnTikTok #entreprenuer #realestateinvesting

More from @hold_my_hand_wholesale

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Transcript

Realtor: Because the title company can't get a hold of the lender to balance numbers. Oh, the lender told me he could fund tomorrow no problem? Realtor: Well they still- they can fund, but they have to respond to the title company to balance numbers. Let me give him a call. And then umm- I just wanted to make sure, because, you know, when we did the purchase agreement, the buyers paying closing costs and commissions. Now, understanding that the- the commission- from what I told my lender- is coming out of the $58,005 (my down payment). Realtor: The buyer is assuming that that's not coming out of the seller's proceeds. The buyer took that on. That's why we agreed to what we agreed to, um, and lowered it. But when Abdi took it on, it is the buyer to pay for the closing cost and commissions. Well, what my lender's gonna fund is gonna be. He's gonna fund $60,000. $1500 of that is gonna go to Abdi, and then you guys are gonna get the 58,000, and And however the $58k is split up is gonna Realtor: That's not how it works. That's not. No. The purchase price was $58.5k And the (buyers) paying closing cost. Yeah. Yeah. Title fees Yeah. Closing costs and commissions. Well I'm paying all the- my lender's not gonna be- His lending guidelines are he doesn't pay brokerages. So essentially what's happening is- Well, it'll be in- So it's gonna be in your closing cost and it'll be in that breakdown. But. No, no, no. You signed an agreement with your seller saying that the nature of your listing agreement quite literally states that your seller is paying you out of the proceeds. Realtor: No. I So when you signed a listing agreement with the seller, the listing agreement said that the buyer is going to pay the commission? Cause that's not how real estate works in the United States. Realtor: Hold up- wait, how does what not work in the United States? Your commission as a Realtor comes out of the purchase price. The listing agreement that you signed with your client states that your proceeds come out of the sales price that they get. My lender- my lender. Realtor: No. That's not Okay, well maybe the deal is dead then. My lender is only going to be funding 58k, and the $1500 assignment fee, the closing costs the title fees. Yeah, I'll pay all the title fees, absolutely. But I'm not paying your commission. All I can tell you is I'm gonna call my lender right now. We're gonna fund 58k. I'm not gonna pay your commission. Realtor: Well, then we're gonna have to figure something out. And when we say figure something out, it means that you abide by the listing agreement that you signed with the client. Realtor: Yeah. Yeah. I am abiding by the listing agreement. And the listing agreement & the PA states that Abdi signed by law that he is paying for the closing cost and commission. No, I'm gonna pay the closing cost here. I'm not paying any sort of commission. Realtor: Well, we can't negotiate that now! It's not a negotiation. That's what I agreed to. I agreed to pay closing cost. But. But the thing is, my lender is. My lender is not going to be funding commission. It. Realtor: It is what it is. We're clear to close. We're ready to go- It is what it is on this. I have a quick question. When you approached your seller and you said, hey, I'm gonna sell your house for you, you came to the seller and you're like, but you don't have to pay any commission..? Realtor: No, I came to the seller, and we made an agreement on what we made. And your buyer came in, and the buyer stated what he wanted to do. So that kind of- I'm the buyer. Realtor: I'm the buyer. But I'm the buyer. The buyer of the who- came to me originally That's what I'm trying to explain. And I don't wanna, like fight. I'm just trying to tell you what we have legally and logistically is that when you sign a buyer's agency agreement, you sign a purchase agreement, things do change! Because just like if I tell a seller I'm gonna sell your house for $200,000, and then you come to me and say I'm gonna buy your house for $210,000, that changes the original agreement between me and the seller. Realtor: Okay, well all I can tell you if it- you know, if it falls through, that's gonna be okay with me. All I can tell you is that I'm ready to close tomorrow at $58,500 And closing costs if there's any fee that you need. If there's any fee that you need above that, it's gonna be coming out of the seller's proceeds. Realtor: And that's not Okay, I'm gonna call my I'm gonna call my lender now. There's nothing I can do to change this. Um, talk soon, though, okay?