Finding a realtor, just a thought

This is exactly what we need to do. We had to fire our realtor last week, and although I know it was the right thing for us to do, I'm frustrated that our system has come to a screeching halt!! We have posted ads on Craigslist and some other online ad sites, but all of the responses have been from non-local realtors. We definitely want someone local, who knows how the market is working RIGHT HERE and can meet with us whenever we need to.
How did you decide on who to call? Did you just pull out the phone book and speak with whomever answered the phone? Or did you ask to speak with an investor-friendly realtor and then interview them? I don't know why I'm feeling intimidated calling around. I had so much confidence a week ago, but the fiasco with our last realtor has left me feeling gun-shy.
I need to just DO IT!!! Yuri, you are my inspiration today. I am going to make those calls tomorrow morning and FIND A NEW REALTOR!!!!

Thanks for the kind words. I basically went on google and searched realtors in the area. There is also realtor.com which you can use. I don't live in the area I invest in, that's why I needed someone who I can heavily rely on. If you want to invest where you live, open a yellow book. Why not. When the first realtor told me no, I thought to myself "Wow! What the hell?! I guess it is not as easy as I thought." But!!! I NEED A REALTOR!!! So I kept at it. Every no brings you closer to a yes, right?! I think it is best to be just straight up front from the begining. I wasn't harsh, I wasn't rude, I told them right up front that I will tell them my own strategy and they can tell me if they are up to it. I look at it as forming a company with employees.
1 Realtor
2 Financial advisor (turns out she knows one too)
3 Title Company (she takes care of that)
4 Contractor or Rehab Team (I have that in place ready to go)
5 End buyer (which my realtor will help with as well)

Look at it this way, 5H, you are losing time. Right now you could be getting an email with prospective properties. Time is a terrible thing to waste. Took me 31 years to figure that out. Go for it, you got nothing to lose and everything to gain!

That is sooooo true! I am going to create a list of realtors tonight that I will call tomorrow. Thanks for the support!

Great to hear that you found your GEM realtor! That is awesome. This is a win-win situation for both of you.

Can't wait to read about your success stories.

SmB

feel free to contact me. I may be able to help you.

Hi Shiela. We DO need a realtor in CA! We are looking to invest in the Inland Empire. Are you near us?

I am not near you, I am in Northern CA. However, I do have listings in So. Cal. Are you familiar with Palmdale and/or Redlands?

Yes, Redlands is one of our target areas. Too bad you are in Northern CA! We would love to have such an experienced investor/realtor working with us!!

I have sold and bought homes for myself and clients at sight unseen over my years of experience. Its awesome with our technology nowdays!

YURI77 that is how you do it,go out there blindly and feel your way!
I have not tried to make contact yet on my own,I have to make the time
to do what you are doing! As far as RE/Brokers,I can assure you they eat
just like you and me! You just have to find the one's that can check there
EGO at the door...business is business!(CAN WE ALL MAKE SOME MONEY).

Proof positive they are out there...Bailey Meadows is business not EGO!

Randy

Hi. I hope you don't mind me jumping in. But I know what you mean. been calling around trying to find a realtor that will work with investors. I don't know maybe being from Massachusetts it's a little different out here. Just seems to be getting the run around that they don't work with investors or they don't feel comfortable about putting in bids that low. Just been very frustrating. Can't give up now will continue to try.

Maybe I got lucky. I have worked with a dead-beat Realtor for 8 years and sick of it. Keep trying, I am sure you can find someone. Maybe check with REI group from Mass, I am sure they have realtors they can refer you too.

Yuri

Try posting an ad on free web sites such as Craig's List in the real estate section (under the services heading) stating that you are looking for a realtor to work with who has extensive experience working with investors. Might narrow down the field a bit and save you some time.

Angela

I will ask my realtor if she knows anyone in Mass. Where in Mass are you? She told me she has connections in NYC (since I am looking to invest here too), who knows she might help there too.

If I was you I would call big companies. I tried calling small ones figuring they would be hungry for business, but it is the big one that answered the call. Try Remax, Coldwell Banker, etc...

Yuri

Hay guys thanks for answering back. I am located in lowell Mass. if your realtor knows anybody in mass that would be great. I will try doing craigslist and calling some of the big companies. Again thanks for replying back just boosted my confidence that this can be done.

Can you ask your realtor who her connections are from NYC. I am from NYC, but am currently living in Pa. I would like to invest in Nyc. PM me. Or e-mail me at Kingjuss07@****.
Kingjuss,

hahaha!

What a reversal. I live in NYC and want to invest in PA, you live in PA but want to invest in NYC. I love this site!

Where in PA are you?

I will definitely ask.

We would LOVE to be able to work with you! I am certain that we could GREATLY benefit from your knowledge and expertise!! I have PMed you our email address so we can exchange phone numbers. We look forward to talking with you!!

Good morning DG family. Well let's see I may have found my broker. Yesterday was talking to a friend. Told him that I started to do real estate investing. He told me that he had a good friend that was a broker. After talking to him yesterday and explaining to him what my game plan was. He seemed to be excited but hesitant at the same time. He explained to me that not having good credit and no money might be hard. So I explained to him some of the different techniques that you can do with no money and no credit. He explained to me being from Massachusetts it may be difficult to do. Because Massachusetts laws are different from other states. Can somebody from Massachusetts that's done deals with this kind of strategies that they use with no money and no credit. So I can explain to him that it will work in Massachusetts. I would appreciate all the feedback that is possible. Thanks Mac

Hi,
Start a new post with your question.
Chances are someone who has been successful in your state probably has their own agent or broker and probably would not read this thread. So the right person to asnwer your question might not see it posted here.

Congrats Yuri.

I was just talking to my coworker about this same issue of people not wanted to work with us. I have been talking to mortgage brokers and loan originators and just been getting the negativity. It is like we are in a recession but no one wants to work together to make money. It is amazing. I am still trying to build my team and am having a hard time. I am going to keep at it. Maybe someone in the Southern CA region (Los Angeles) could recommend someone that I can reach out to.

I am also looking for a sort of "ride-a-long" to see the whole process in action. I am really nervous but want to get past it and start making money too. I can do it.

Regards,
Crystal

Hi Crystal

It seems to me everyone is afraid. I have everything ready to go on my end, the only thing that I don't have is the investor to unload the properties to.

Sad really.

I took the script and modified it a little bit. I picked two real estate agencies in my area, went to their website and emailed my letter to every single agent in these 2 offices. One agent responded and seems to be very motivated. I haven't spoken with her yet. Hopefully she is the right team member for me.

Yuri -
Kudos to you. I am also having this problem in northern Atlanta area so if anyone has any contacts in Atlanta for a realtor that has experience with investors or a mortgage broker I would appreciate any help.

I just finished the book today and have been in the program for 2 weeks now and feel like I have gotten pretty far but today felt like I had a few setbacks. OK back on the horse and keep on riding. I have such hurdles to jump including hearing how my husband knows ALL the answers but has never read the book. He keeps citing the old traditional way of purchasing real estate. Then he recommended that I consider getting my real estate license.... almost lost it!!

Keep up the good work since Good things happen to people who work at it!!

Laura

My wife finds real estate boring so she told me to do what I have to do just leave her out of it.

I just have this giant hurdle. I got the money, the real estate broker, the properties I want to buy. Can someone please buy them from ME??? LOL

Yuri

Well, I decided to TAKE ACTION today!! I called about 12 real estate offices (out of the phone book) and asked to speak with a realtor who had experience working with investors. Two realtors told me that no way would they be willing to put in low offers on REOs and three said they would get back with me (never heard back, though). One said, "Well, if they are asking $100K and you are thinking of offering $75K, I would not submit that offer for you." I said, "oh, well I don't think we would be a good fit, then, because I would only be offering $50K!!" Another guy said that it sounded like too much work, sending me comps on 10-20 properties each week.
Only one person said that he knew what I was talking about and that he has several investors he's currently working with. Sounds great, except I felt sooooo rushed throughout the short conversation that I felt STRESSED afterward!!
At the end of it, I felt VERY rejected and depressed. But then I checked my email and there were 5 responses from a CraigsList ad we posted last night! I was very specific with each of them (50% offers on 10-20 houses per week, etc.) and four of them say they are VERY interested and that they are quite familiar with this type of aggressive offering system and/or they are investors themselves!!
WOW!! I was REALLY happy to see those, because I was NOT looking forward to calling more realtors tomorrow and being treated like a CRIMINAL!!!!
Now...how do we decide which of the four to choose???? I pray one of them is our GEM!!
kEEP YOU POSTED!

Sounds good to me!!!
What did your ad say?

Yuri

P.S. I will post my lease agreement a little later. Trying to find it.

Thanks!! It said something like, "INVESTOR FRIENDLY REALTOR WANTED, We are investors with a system already in place. We will be submitting 10-20 agressive offers on REO properties per week. Some of these properties will be purchased as a cash-flow investment, some will be flipped, and some will be assigned to one of our partners. The realtor chosen to work with us will have exclusive rights to our listings and will be brought in on FSBO's."

I have sent each of the respondents a more detailed explanation of what we do and what we need, and 4 are still interested!! I'll be calling each of them tomorrow. Not really sure how to choose, though. I guess I'll get a feel for how much of a go-getter they are when I talk to them. I will be able to see what they have to offer us and how motivated they are (hopefully!)

Wish me luck!!

I say work with all those willing to work with you. Just don't sign A buyer's agency contract. So that you can avoid confusion between the agents in terms of commission, because you are not committed and signed to one agent. Thats if you can avoid having to sign such a contract. Who says you should only have one agent, and that way you can see who is really for the long haul and get rid of the pretenders.
Kingjuss,

It's good to see that we can all come together and talk about this. This entire week has been challenging in reference to Realtors. The realtor I had just stopped producing results and gave me the same excuse. I posted for realtors and ran into those who were overly experienced. So experienced to where they tell me what will work and won't work. One realtor told me that they have been working with investors for a long time and currently all of the good deals are taken as soon as they come on the market and making 25 low deals hoping for 1 does not work now. That I would have to catch deals quickly. I said that there are many different ways to structure a deal. Nevertheless, after a few emails, she didn't even call me back. I called a couple more realtors and told them what I was doing and some never called back even after talking with me. I would have imagined that they would jump at a chance to work with an investor.
I'm currently attempting to help a friend who is in foreclosure. The auction is scheduled for next month. So, I'm hoping to negotiate a loan modification for them or begin a short sale. However, I need a realtor to run comps for me so that I can call the mortgage company with a deal. This is my 1st real estate endeavor. Through prayer and the experience that Dean and you all have, I know it will work out.