The Fall is upon us and the weather is beginning to change. This morning I felt the cool crisp air move through the creaking branches on the trees as the leaves cling to the branches and some even begin to fall. The shimmer of dew on the front lawn and the smell of cold lingers in the air. I look down the block and notice some of my neighbors already putting out their Halloween decorations around their homes and front lawns.
As I look down the block and see all the ghosts and gomblins I think about some words of wisdom for the real estate investors. You may be traveling down that dark road of investing not sure of what lies ahead but you need to know....."BEWARE OF THE LAZY REALTOR!"
As I travel through-out the USA and meet and train so many of Dean's students, I get a chance to meet many Realtors in many different states. Many investors tell me how often then not Realtors shoot their offers down before they can even get an offer out of the pen!
If you ran into a Realtor that does not want to write multiple offers, or they tell you these offers hurt the market, or even the buyer won't even consider the offer then you need to STOP!!!!
Stop and ask the question is this the right realtor for you?
Often we have a dream and we create goals for our dream. Don't let anyone especially a Realtor tell you it can't be done, the offer is too low or the Seller will never accept it.
Remember always to be positive, polite and professional but bottom line is they are your agent. Can you imagine an agent of a top professional athlete superstar to not ask for $10 million a year because it is too much to ask for? They would tell the super star athelete yeah I know you want $10 million per year but "why don't they just play for a six figure salary like $100,000". The agent is there for you to help you negotiate and present an offer.
There is no way that aggressive calculated offers can "Hurt the Market" in anyway. Let's look at the numbers to this as a fact. If there are hundreds or even thousand of aggressive offers and 1 out of 25 gets accepted than how does that hurt the market? It does not.
What hurts the market are lazy unagressive Realtors that do not want to write up the offer or even take the time to show a property or take the time to present an agressive offer to a Seller.
The offers are never kept track of only the accepted offers for sold properties that end up in a completed deal. Thus, if 1 out of 25 agressive offers gets accpeted it can't hurt the market.
Another fact to inform realtors about is a property is only worth what someone is willing to pay for it. Thus, if sellers accept aggressive offers maybe that is what the property is worth on that day to a buyer. Can it change from day to day and buyer to buyer? Yes it can. The housing market is no different than the stock market or open trading commodities market.
Buyers determine value based on their offers and accepted offers determine pricing. So remember don't change your offer if that is the best price you can offer to make it a good deal, you might want to consider changing Realtors.
Good luck. Believe and Achieve! - Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
As a Realtor and soon-to-be-RE entrepreneur, I couldn't agree with you more!
Letting a property sit on the market one day longer than it should hurts the local market far more than a low offer ever could.
Strangely enough, I've found great RE opportunities for so-called investor clients, and have had a hard time convincing them to put in a low offer. You never know what's in the mind of a Seller. Your low offer might be a God-send in the nick of time.
If your agent hesitates AT ALL to submit a low offer, fire them!
Best wishes,
P
Thanks for the additional comments and insight. You are so right if your agent is not doing a good job or gives you grief on your offers, its time to find a new agent. So often then not new real estate investors may get discouraged by some real estate professionals and the key to remember is there are so many real estate agents out there.
For fun today, I went into the Realtor.com official website to see how many agents were in the following cities:
Miami, Florida - 20,612 agents listed
Houston, Texas - 13,361 agents listed
Chicago, Illinois - 12,439 agents listed
New York, New York - 11,387 agents listed
Las Vegas, Neveda - 8,609 agents listed
Phoenix, Arizona - 8,468 agents listed
San Diego, California - 7,918 agents listed
Dallas, Texas - 6,566 agents listed
Orlando, Florida - 5,808 agents listed
Los Angeles, California - 5,655 agents listed
Honolulu, Hawaii - 3,684 agents listed
Maui, Hawaii - 1,281 agents listed
Anchorage, Alaska - 730 agents listed
So chances are very good there are more than just a few real estate agents in your area too. If your agent is not getting it done for you, its time to find more agents! Good luck. Believe and Achieve! - Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Of never letting someone squash your dreams and to move on if your realtor cannot work with you. Great advice. You made me think that during the slow seasons, maybe it is the ideal time to find a realtor to help them also get deals done.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
I was wondering do all agents make you sign up with them before they will work for you? If so...if they don't work out, can you verbally tell them or should it be in writing? Thanks for all your help!
"Cherish your visions and your dreams, as they are the children of your soul, the blueprints of your ultimate achievements." Napoleon Hill
Dawn H
Joe,
Being from the same area as you (Valpo), I only see one Keller Williams office, and two REMAX offices near me. What if I go through all of these offices looking for the right Realtor and still can't find one? Then what, switch to a different agency?
The one I have right now seems too busy to work with me. So if you want to pay back your Realtor and give them more business, you know you can always refer me to him/her!
PS - I see you have an EDGE 2012 Attendee badge, where can I get my hands on one of those?
Thanks!
Dominic
Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...
Thanks for the additional comments. Yes, it is a great time of year to find a realtor. Once the kids are back in school and the holidays are right around the corner, most markets tend to slow down. So now is the time to find an army of real esttae agents and start making more offers. The deals will come as the number of offers increase. Good luck. Believe and Achieve! - Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
The best advice for you is to not sign an exclusivity agreement to work with a specific Realtor. They may tel lyou that it is "their office policy" you sign it. You can then politely tell them its against your partners policy to sign it. If they agree great, if not then look for another realtor. There are way too many other realtors to work with rather than locking in to just one. If you sign the agreement you could be locked in for months. Good luck. Believe and Achieve! - Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA
Yes, try to work with your current agents, if they are too busy or don't work out its time to find a new agent. There are many national real estate offices like Remax, Keller Williams, Coldwell Banker, Prudential and even local ones like Realty Executives, McColly, etc. etc. etc. Good luck. Believe and Achieve! - Joe
P.S. I added the EDGE 2012 badge to your id page. Enjoy!
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
https://www.youtube.com/channel/UCiko62V79zLKX_owbirAYNA
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA
https://twitter.com/JoeJurekCPA