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Credit Cards

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Mark Koncz

Thread Starter
Freshman Member
Joined
Jan 23, 2002
I know we have visited this in the past but I seemed to have lost it in the board change. Anyway I was considering accepting credit cards. How many of you are currently doing this, what should i look for in such a provider and do you think it is worth it?

thanks in advance,
Mark Koncz
 

Will Granger

Sophomore Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
CC's will cost you about 5% per transaction and 30 cents for each slip processed. The setup fee is high. I think the thing to do is tell the client to have a check ready when you get to the house. Let them get an advance on the credit card.
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
On option to look into is PayPal. You can setup a buisness account there and I forget exactly what the fee is but it is small. Your client will have to have internet access and be willing to open an account at PayPal (free). But it is an option.

I have an account I set up for another purpose. But I could easily use it for this if the client wanted.
 

MarkRichmond

Freshman Member
Joined
Jan 16, 2002
Hi Mark,

I started a thread a month or so on the old board and got a few suggestions. I just signed up for a merchant account today. Here are some tips.

1. Ask your current bank. They usually offer merchant services.

2. someone told me about costco offering a pretty good deal and this is what I chose to do. Here is what it costs:

$100 sign up for costco executive membership
$180 Software purchase
1.99% fee on all sales
$25 one time application fee
.28 per transaction

For me this is well worth it. I am doing good business with out of state mortgage brokers and lenders. I would much rather collect at the door and it gives homeowners one more way to float the cost until their refinance money comes in than hope and pray I get paid 6 weeks from now and make collection calls. I should be set up in a week and will let you know how it turns out.

Mark
 

Will Granger

Sophomore Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Mark,
I like the photo. I'm going to try to do that before too long. If you think processing credit cards is a good thing, do it. I may be there myself before too long. 8)
 
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