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Bringing a Realtor into the team

Posted on: Sat, 09/29/2012 - 20:13
Bringing a Realtor into the team

First off, sorry if this is in the wrong place!

A Realtor contacted me after I posted an ad on Craigslist regarding bringing in an Investor Friendly Realtor. I did exactly what Dean and Matt said. I will be interviewing this person more, but they said "I can help you out!"

Now they want to know what exactly I am looking for. I know what to say, but I also want to ask them to send me buyers too. I'm a little stuck on that part. Do I ask them to pull up the Cash Buyers up to 90 days? I'm a little stuck on the wording.

Thanks!

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Posted on: Sat, 09/29/2012 - 20:36 #1
First you should make the

First you should make the phone call to make sure they are qualified. Then ask for the listings over the phone. Once they email you the listings send them back a reply with a homework assignment, here is how I sent mine (taught by Matt Larson):

Hey ______,

Thanks for responding and sending me a list of investment properties. I want to be able to sell these quickly after I fix them. I'm doing a lot of market research right now. I'm trying to figure out how many cash buyers there are in the hot areas, and I need your help.

Please pull a list of cash solds for the last 90 days in _____, _____, _____, _____, _____, _____, and _____.

I know it's not easy to pull this list. In fact you have to be very talented to figure this out, but I know it can be done. Most of the good agents that are able to do this had to call the MLS help line to get it done, this will expedite the process.

Thank you for your help!

Some Realtors are hesitant to send you this list because they think you want to go behind their back to sell properties. Just simply explain to them that you put multiple offers out, and sometimes more than one gets accepted. You want to have a list of cash buyers to handle any overflow. Another way I word it is that it's a PLAN B when purchasing a property so no one's time is wasted and the deal will go through even if I can't buy it. They will still get commission on the buying side of the transaction, even if you wholesale it to another investor.

Or you can tell them it's where you can get private money to fund some of the deals you can't do yourself.

Obviously, only explain why you need it if they ask, but never mention wholesaling to your Realtor. They don't need to know what you're doing, if you mention wholesaling they are going to think you're hard to work with.

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Dominic

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Posted on: Tue, 01/01/2013 - 00:10 #2
I agree with Dominic

start off slow - get to know them before asking for a "cash buyers" list. Be sure you do not separate yourself from your investors. You are the buyer. You work with a "group" of investors, "we" are cash buyers and "we" can provide proof of funds. When you have an accepted contract, you then can decide if you are going to close on it yourself or one of your "partners" will be closing on it. It's very important the your RE Agent views you as the "Buyer".

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