Trouble finding a Real Estate agent

your local real estate companies and ask if they have any new agents who would like to work with an investor. Where did you post your letter?

KimmyJ
Press on...

Letter was emailed directly to agents. It isn't posted anywhere. I am also thinking of posting an ad on Craigslist to attract agents.

When it comes to agents,do I ask the agent or the owner what's the lowest price they'll sell for if I can close within 30 days & pay cash?

thanks 4 your reply,
Serena

Agents are overwhelmed with solicitations by email, mail and phone every day. If your presentation looks like a form letter, it will probably not be responded to. Tell the agent that you have done some research, and that you feel that the agent would be a good match for your needs and that you would like to talk to them about it. I would not tell them to call a number, and leave a message (it is too impersonal).

Good Luck, Al

I'll try it, Al. Thanks for your help.

Serena

If the seller is being represented by an agent, talk to the agent.

Al

Thanks for ALL the comments and help. Please keep them coming ...

What I would do is call your local real estate companies. Ask the person that answers the phone, because pretty much everytime you call, you will get a realtor. Start asking them important questions that you want to know. You have to see if you will be able to work with them. See if they know the area, they should know the areas that are investment areas, single family homes or duplex, they should have a good idea of what is out there. Let them know you are a real estate investor, feel them out and see if you feel you can work with them.
Just start doing the leg work right in your own back yard. Just give it a try, start practicing and it just keeps getting easier. Each time you call somewhere more questions will be asked and you will learn so much more. Remember, just because you called one office in the morning doesn't mean you can't call back later that night. There are always new people on the phones and you don't know who you might get.

FYI..by rights once a person is signed under contract with a realtor you have to go through a realtor to ask any questions. Now you don't have to go through their realtor you can go through your own, however, the realtors can not legally tell you how low the owners are willing to go. So, can you send a letter to the owners, can you be creative, sure, why not. Hey give it a try, all they can do is just refer you to their realtor. But at least you asked. Good Luck.

Hope this helped.
Carpe Diem
Stacey :0)

Hi Marcus:

Make lots of calls to different ones, and then send your letter as a followup to those you spoke to and were receptive to your ideas.

Take Care,

I found my agents by first looking in the phone book to locate real estate offices close to where I live. I wanted the agent to be in close proximity to reach them more easily to pick up CMAs, etc.

Then I simply called that office and identified myself as an investor who was looking for an agent with experience in working with investors. If the agent answering the phone was not an agent who worked with investors and didn't know which agents did work with investors, I would then ask if there were any agents available that would be interested in working with an investor. After I was connected to an agent who would work with an investor, I would do a short phone interview, such as how long they have been an agent and/or investor and if no investor experience I inquired if S/he would be interested in doing so. I then would tell them that I didn't want to take up too much of their time and asked if they had an email address where I could send them some information about what type of investor I was and what type of properties I was interested in. I also told them I would like for them to complete a questionnaire about themselves. I told them that I had not decided on an agent yet, but that I would be able to let them know something by the end of the week (make the time period reasonable) with my decision since I was interviewing other agents to find the agent that was right for me. I then sent them an email the letter patterned after Matt's email to agents (page 114 -PFRERN). I modified some of the wording to suit my purposes. I then attached a word document file with a list of pertinent questions that would give me insight to who they were and what the abilities are.

In the email I told them that if I selected them I would email them to set up a time when I could meet them in their office for further discussion and game plan.

This worked surprisingly well for me. I found that it was better to speak briefly with the agents before I emailed them anything. I also gave them a due date to have it back to me so I could make a final selection decision by a certain date.

That is how I located my agents. I was able to prompt them to follow up with me by submitting the completed questionnaire. This showed me they were interested.

I also made show I asked first for an agent that had experience with working with investors.

I did post an ad on craig's list but I didn't get any responses from agents that way.

Hope this helps.

Hi Verna, your post is great. I'm at the point of having to find Agents also. Would you still have a copy of the questionaire you were having them fill out. If I can keep from "re-inventing the wheel" by collecting forms, contracts, and such, I will be farther ahead. Thanks in advance. Rick in Georgia

Hi,

I don't mind sharing, but I have to say that the questions did not originate from me. Anita is the one who put a list of questions together that you should ask when interviewing a RE Agent. I just turned it into an interview questionnaire. So this is thanks to Anita. After each question Anita puts an explanation for the member's benefit. Make sure the actual questionnaire that you send to the agent does not contain those explanations.

I have trouble remembering where I find information that was noteworthy when I needed to get back to it. So now I keep a word document open and when I come to a post that explains how something is done or some other noteworthy information I cut and past it into a word document that I call "FORUM NOTES". This way I can just review my notes to find information that I know I have seen before. It's easier than going through all the post again looking for it. I also copy and paste the name of the member who posted it in case I need to contact them with a question. So that is how I can take you back to what Anita posted somewhere in one of these forums! LOL

"INTERVIEW WORKSHEET - FOR FINDING A REALTOR

I have attached a worksheet you can use to interviw a NEW realtor. You can customize it for your use but it works great. Choosing an agent can be confusing, especially when there are so many to choose from. Among questions about an agent's experience, local market knowledge credentials, cost and marketing plan, here are 13 questions to ask an agent before deciding he or she is the right one for you.

* Do you work full-time or part-time as a real estate agent?
Full-time work typically means more attention for you.

* How many homes have you sold in my neighborhood?
An agent who specializes in the area in which you are selling your home is preferable. This agent will be the most familiar with recent sales activity and will be able to recommend a good market price for your home.

* How many other sellers are you representing now?
The busiest agents often are the most efficient.

* Will you handle all aspects of my transaction or will you delegate some tasks to a sales associate or administrative assistant?
A knowledgeable assistant can be invaluable, but make sure you connect with your agent regularly.

* How much can I expect to pay?
Commissions are negotiable depending on what kind of listing arrangement you have with your agent.

* At what price do you think my home can sell given the current market?
This will allow the agent to display his knowledge of your market.

* Can you give me a comparative market analysis (CMA) of recent sales in the area and homes currently on the market?
This should contain listing and sales prices for recently sold homes as well as listing prices and the listing dates of homes currently for sale. It also should include detailed property descriptions (such as square footage and numbers of bedrooms and baths).

* What does your marketing package contain in addition to a comparative market analysis?
Listing presentations should also include a suggested asking price, information on the local housing market, advertising plans, a discussion of various listing agreements, and an analysis of sale proceeds at various price points and commission levels.

* Can I list the house with you for 60 to 90 days?
Most consumer experts agree that a three-month listing period, or less, is best. You can always renew the listing agreement at that time.

* Is your license in good standing?
You should check an agent's certification yourself with your state's Department of Real Estate. Many states provide this information online. For example, in California residents may check at http://www.dre.cahwnet.gov/licstats.htm

* How many years of education and experience do you have?
Experience and continuing education typically make for better agents.

* Are you also a broker and/or a Realtor and have you invested for yourself?
Brokers have more stringent licensing requirements and responsibilities. Realtors are voluntary members of the National Association of Realtors, a trade group.

* Can you provide me with the names and phone numbers of past clients who have agreed to be references?
Insights from past customers can help you learn more about an agent and give you a greater comfort level.

Anita"

Hope this helps and thanks again Anita.

Great info.Thanks for sharing and thanks to Anita. When you got to further discuss your game plan with the realtor did you present the matt larsons 1-25 formula?
Or what kind of effective plan did you discuss? What would be ideal? I am trying to find the best way to approach this when discussing a game plan with a possible potential realtor.Also would it be a good idea to branch out [the realtor],lets say 10 mile radius looking for potential properties or just stay in one targeted town/area? Thanks!

I sent an answer to you for the PM you sent, but I think I scrambled my reply with your text. Here is my reply again.

It is a help that the realtor I selected is also an investor. Because of that, during my game plan discussion I will get more in depth information about the type of investor she is; traditional or one that uses creative strategies. No, I will not discuss the strategies I will use (such as 25:1 formula) during this discuss. I don't think agents need to know all your strategies, especially in the beginning. We will do the normal chit-chat for a few minutes so that we are both comfortable then I will get down to business.

What I plan to discuss at this meeting is the locations I am interested in obtain property, price range, rehab or not rehab, whether I want to look at mobile homes (which I don't). Basically, talk about what you are looking for in a property. Use the Matt's example in the PFRERN, page 115. Use that to discuss the kind of property that you are looking for. Ask the agent to pull up properties based on the criteria that you selected. After the agent pulls the listings you should review them and when you find something that you want, ask agent to do a marketing analysis for the properties that you select. From there you should do your investment thing. This information is for the properties that you select that have been listed by the other seller's agent. If you are looking at FSBO properties you have to deal directly with the owner.

You select your own radius. A licensed agent can pull properties from any part of the state they are licensed in. that is purely your option what your radius is.

Verna (newage8767)