Hey guys,
First time (to my memory) poster here. I am Jeremy, from Alabama, and am trying to step onto the fast lane, and off of the sidewalk.
I need some advice. I have been trying to make some money through brokering deals between buyers and sellers, and have come close a few times. Mainly, I started off trying to broker fabrics and materials, then clothes, and then commodities, and just on and on.
Recently, I made contact with someone who had access to Sugar and Concrete. Then, I made contact with someone who needed Sugar. This specific order will be 300K tons of sugar, which will bring me a very sizable commission check. There are 3 agents at work here - the buyer's agent, the seller's agent, and then me - and I have put the 2 together.
After communicating everything back and forth, we finally have a signed Firm Contract Offer. We started out with a ICPO, and then a Draft-Contract, and now, we have the FCO. It's a 9 page, very legal-sounding document.
Here are my 2 issues:
1. The seller wants to close before tomorrow, and so, the agent has been pressing me to make it happen. The buyer is tied up, and won't be able to do the paperwork until next week. However, the buyer's agent has a connection with the secretary, and for 300 euros, can push the contract through quicker. I got the signed contract this morning, and now, it is expected me to wire 150 euros (the seller's agent supposedly paid the other 150 euros) to the secretary. The buyer is willing to pay that, but the seller's agent freaked out about the buyer knowing about that. What do I do? I am not even 100% sure this is legit, but, it seems so - because, without little hesitation, the buyer was willing to send the money with no problem.
2. Once the deal closes, how do I secure that I actually do get paid my commissions? I have a NCNDA, but supposedly, those may not hold water.
Thanks for any advice.
Jeremy
First time (to my memory) poster here. I am Jeremy, from Alabama, and am trying to step onto the fast lane, and off of the sidewalk.
I need some advice. I have been trying to make some money through brokering deals between buyers and sellers, and have come close a few times. Mainly, I started off trying to broker fabrics and materials, then clothes, and then commodities, and just on and on.
Recently, I made contact with someone who had access to Sugar and Concrete. Then, I made contact with someone who needed Sugar. This specific order will be 300K tons of sugar, which will bring me a very sizable commission check. There are 3 agents at work here - the buyer's agent, the seller's agent, and then me - and I have put the 2 together.
After communicating everything back and forth, we finally have a signed Firm Contract Offer. We started out with a ICPO, and then a Draft-Contract, and now, we have the FCO. It's a 9 page, very legal-sounding document.
Here are my 2 issues:
1. The seller wants to close before tomorrow, and so, the agent has been pressing me to make it happen. The buyer is tied up, and won't be able to do the paperwork until next week. However, the buyer's agent has a connection with the secretary, and for 300 euros, can push the contract through quicker. I got the signed contract this morning, and now, it is expected me to wire 150 euros (the seller's agent supposedly paid the other 150 euros) to the secretary. The buyer is willing to pay that, but the seller's agent freaked out about the buyer knowing about that. What do I do? I am not even 100% sure this is legit, but, it seems so - because, without little hesitation, the buyer was willing to send the money with no problem.
2. Once the deal closes, how do I secure that I actually do get paid my commissions? I have a NCNDA, but supposedly, those may not hold water.
Thanks for any advice.
Jeremy
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