OfflineHi DGers...I sent this email to a Real Estate Agent who helped up buy our home....read this, then i've listed his reply at the end...any ideas i can respond to him with for still being a team member would be greatly appreciated..
Hi Pete,
Hope all is well with you and yours.
Pete, I am diving head first in to......Real Estate Investing! Now, I know what your first thought is....what!!...does she know anything about what this involves?? The answer is...yes. Yes I do know a bit about what's involved. I just need a professional real estate team to help with the details.
Here's my plan...Due to our current economic and specifically housing market conditions I have decided its time to pick the "low hanging fruits"! I'm looking for a Real Estate Agent to come on board with me as a team member to actively and aggressively assist with locating some deals and making offers (especially low ball). I will use several strategies to buy and sell. I will look at a lot of properties and buy only a few according to my buyers' criteria. I am currently building a Cash Buyer and Tenant Buyer list. Your motivation for joining me is a lot of commissions. My goal is to close on at least one property per month once I ramp up. I want to find, rehab, rent out, and manage properties as parts of my business. I will pull the agent in on the FSBO deals. At times I will write additional commission into the contract when we ramp up to full speed. I want to make money and I want the Agent to make money.
Can I count on you to be a part of my team?
HIS RESPONSE...
Linda:
I appreciate the offer, however, I stay away from that type of listing/sale. As far as I can, honestly. Far too many pitfalls and/or liability.
But I appreciate you thinking of me.
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
One thing I have been noticing with building my team is alot of these agents do not want to help investors. However, dont let it deter you. I just found an outstanding agent that is ready to get on board and has already sent me a list of all the cash purchases within the last 90 days and is getting ready to give me access to her MLS. The key is you have got to act like you have money to spend and not simply looking for cash buyers. I told her I could handle anything from 0-200k but I want to see all listings because I lso have partners that can spend over 1 million dollars. this got her attention and now she is on board. Good Luck!!
Seeking overall prosperity in life,
Carlos
thank Carlos for your input.
I just thought there may be a way to have him on board and keep him away from FSBO deals....can i still use him for other aspects of RE without him getting involved in what he sees as risky?
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
I believe real estate agents are afraid of change and when an agent receives a request such as yours,which does not follow company protocol,that my friend is change.you have presented a beast/idea/investor idealogy... As far as the agent is concerned.When a beast such as an (Investor) tries to lure an agent in to their activities with new ideas and as far as the agent is concerned unfounded ideals.
Thats to much to swallow. I would continue looking for agents,not only that I would attend investor real estate meetings,there you should meet others who have your same belief and are succesful.Alot of information at these meetings my friend.Do not discount this opportunity,take the leap of Faith.
All on this site share your entrepreneurial spirit,but it is only you who can rise against all barriers presented to you. As dean says it best...(The biggest obstacles we need to remove are between our ears).
The obfusaction of others is always prevalent just believe that what you are doing will have lasting positive effects.You will come on top.
Dazzmann
Provs:24:10 (If you faint in the day of adversity your strength is small).
Looking for realestate investor in the Georgia area.
I am an aggresive/goal oriented individual who enjoys learning and sharing that which I have learned with others. I am ambitious and I am looking for someone who appreciates these qualities. I am eager and willing to learn as well as do whatever it takes to achieve my objective. Lets get together who ever you may be and change lives as well as ours. Daniel
Thanks for the insight Dazzman!
I will not stop my searching......
Take care.
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
many agents have no interest in working with investors for many valid reasons... just to name a few...
we want to look at many and only purchase a few.
we often look for distressed properties, meaning lower dollar sales for the agent.
we ask for a lot of work from the agent opposed to the retail buyer that lets the agent take them by the hand.
It doesn't make their decision to not work with us right or wrong. Agents are coached to find their niche just as investors are.
don't try to find a way to get that agent on board when there are so many others that will likely work better for you.
Depending on what type of investing you will be doing you just need to keep interviewing them until you find one that is willing to try.
This is a persistence game, don't expect each member of your power team to be the first person you call.
I appreciate your inspiration that I will find the right agent.
I'm gathering my list of new agents to contact tomorrow.
Thank you.
Take care.
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
Hey Linda,
Great to see you out there taking action!!!
Look at it this way, he did you a favor. He disqualified himself and saved you time. Regardless of your entrance and exits to a property, with an agent you are looking for a mindset, a personality, an attitude. Unfortunately Real Estate Agents aren't immune to being lazy. You have to keep moving and you'll find a fit. the relationship should flow like a hot knife through butter, not feel like you are trying to push a rope.
Keep pressing forward, go around them, over them or through them. Until you find your fit, if offering on REO's can use the listing agent, or better yet and my recommendation for starting and EASIEST and CLEANEST to assign are FSBO (no agent involved)
Matt Larson gave an example one time I've NEVER forgot. That not all agents are experts in RE. Like that of a 16 year old taking a test and getting a drivers license doesn't make them an expert driver. Same applies to agents. More so than none they jumped in during the hot market, took a test and because of the market could stick a sign in the yard on Saturday and under contract on Monday. They thought they were freaking brilliant or something.
Even a blind squirrel finds a nut every once in a while! LOL
A NUGGET: A good agent will be closing deal NO MATTER what market they are in. They'll know how to get it done. It's a good indication of an aggressive agent. So don't be afraid to ask an agent how mean deals they've closed this year. If they start stuttering, back-stepping and come with some "Well have you been watching the new and seen this market" or "well it's been a dry spell" BS...thank them tell you'll get back if interest, you have several other agents to interview today. (then NEXT!)
I guarantee you.....just wait, all the ones that told you no, not interest, sounds illegal, I'm to busy, blahblahblah..... WILL be the same ones that will be calling YOU one day trying to push you properties, trying to work with you. Because they know you are closing deals. RE is a big but very small world. Word travels. LOL I do have to admit....it does leave a sweet taste!
Push through.... Know that you're going to do it with OR without them.
"The world can't deny someone who want be denied!! _ Matt Larson
p.s. I have found better response and results out of phone conversations than mailers/emails. (meaning using Matt's technique to have the receptionist pre-screen the agents and give contact info for only the investor friendly agents)
don't try to over educated them out the gate. Look for the mindset, you'll figure out the details as they come. Remember a confused mind says 'No'. Keep it 'KISS' for them.
Blessings,
Jen
You are so right there Jen! He did do me a favor. I'm not gonna beg anyone!
I'm gonna just keep plugging away.
I've been seeing some really awesome properties that i'd like to deal with, but I don't know where to start. One is my own back yard! Literally...it's at the end of my 1 acre lot...a house like mine in foreclosure...zillow estimates an unbelieveable price....been vacant for 8 months now....
i know you have suggestions/recommendations!
Thanks
Linda
"...be; not greedy for money....but eager to serve"
1 Peter 5:2
just another thought. plug into your local REI Club meetings. Typically there's one or several agents that attend these. Could be a very good start.
on the property: said vacant to 8 months. Is that just since the walked on it or has it already been foreclosed on? if so, banks will dissolve assets typically two ways: auctions or agents. knowing what stage it's at will determine the point of contact. see if you can see any ' property activity/recordings/history' updates on Zillow. If you scroll down about half way of the page it will usually (if your records update electronically) the last amount it sold at and date, multiple times it was listed (agent, price and date), foreclosure hit and listings again. IF it doesn't have a sign in the yard (some agents are to lazy to even put a sign in the yard - lol). Just kind of a topical/aerial (as I call it) look at the activity on the property.
Without giving ANY specifics of any kind (because you don't have it under contract yet). Give me yes/no I see info. Then I'll give you a more on-the-ground research to find out info.
I'm going to pm you...