Not sure what to do.

Not sure what to do.

There is a REO broker in my area that has 80% or more of all REO listings in my state. My problem is I've been trying to wholesale here for quite a few years but have never closed a deal on my own. I have worked with this broker a couple of times in years past but from what I remember and it's been awhile I think she brushed me off because of factors like the POF letters we get from transactional funding websites, I wanted to assign contracts back when they allowed you to do it but didn't like it. I guess what I'm trying to say is she didn't take me seriously because I never closed a deal with her or the company she owns. Like I said I can't remember the details but I think if she saw my name on anything she wouldn't take it serious if she remembers. The problem is I'm working with other agents now who are sending me all of her listings. So I'm hesitant to make offers on those properties because of my past relationship with her. Has anyone ever run into a situation anything like this before? Any advice on what I should do? I know relationships are everything in this business especially with realtors. Any help would be appreciated.

Thank you!

http://www.jlcproperties.net

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Perception

Perception is what I get from your post and it is understandable.....

Have you ever heard of the expression there is more then one way to skin a cat ? ( I am against animal cruelty)

If this one broker dominates the Reo's sounds like you have plenty of options to work with......

Option 1 ) play dumb I kid you not, and if she remembers you or brushes you off

then check in on her brokerage and ask to speak to her regarding the Reo then be more aware of her desk or her personal space heck check her out and make an observation to details and begin to court her business by courting her she likes a restaurant in town get her vouchers she likes a particular store and you know people (even if you do not befriend the people their) tell her listen I know people who work there who can get you a great discount and right before she bites switch to business over coffee or lunch and mention a Reo .....

Option 2) go to the receptionist and ask for the most successful or star agent who sells houses for her more then likely he would know her trigger points to want to close A deal bring him in for a potential deal in the works and you have your second option

I can't give away all my secrets but these two help Eye-wink

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Play dumb & use a different realtor

Maybe you can combine option 1 with option 2, play dumb & use another realtor you're already working with to send out offers. Some people don't like those letter, esp. if it has no account number on it to verify. There ain't not time like the present for you to get back into the game. As long as YOU believe in yourself, ANYTHING is possible. Just remember that you're never alone, and we are here for you if you need it!

insidernotes wrote:
Perception is what I get from your post and it is understandable.....

Have you ever heard of the expression there is more then one way to skin a cat ? ( I am against animal cruelty)

If this one broker dominates the Reo's sounds like you have plenty of options to work with......

Option 1 ) play dumb I kid you not, and if she remembers you or brushes you off

then check in on her brokerage and ask to speak to her regarding the Reo then be more aware of her desk or her personal space heck check her out and make an observation to details and begin to court her business by courting her she likes a restaurant in town get her vouchers she likes a particular store and you know people (even if you do not befriend the people their) tell her listen I know people who work there who can get you a great discount and right before she bites switch to business over coffee or lunch and mention a Reo .....

Option 2) go to the receptionist and ask for the most successful or star agent who sells houses for her more then likely he would know her trigger points to want to close A deal bring him in for a potential deal in the works and you have your second option

I can't give away all my secrets but these two help Eye-wink


Just put in offers

if you think you can close them and try to move forward, otherwise just stick to FSBO for best bet!.

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John

My advice is going to be different than the guys above. Not that they are wrong, but here is what I would do.

Forget the REOs right now.

Focus on FSBOs. With FSBOs, you call the shots totally. You use your own contracts, no POFs, $10 EMDs, much easier. You will feel more confident because with FSBOs, they usually have no idea if you are doing it right or not.

Put out your bandit signs, put ads on CL, call CL ads, etc. Instead of just focusing on For Sale on CL where there is more competition, call For Rents on houses and ask if they would be interested in selling. Think outside the box.

Once your confidence is up a little more and you have a couple of deals under your belt, then expand to REOs if you want. You may decide you don't even want to go there.

Also, fill out your bio page more completely. That is the first place we look when you ask a question. If it isn't filled out, we feel like since that is something you have complete control over even as a new investor, maybe you aren't really serious. Also, it can help with your networking here and advice sometimes differs according to where you are in the country.

Best wishes!

Karen

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What to do

You can create a LLC and make offers that way or learn how to make offer with a land trust where your name will be hidden. Or Just submit the offer in your name, maybe she won't remember your name or she really doesn't care probably when you submit your offer, try to get a solid POF from one of your buyers if she turns your offer down. Just try it, whats the worst that can happen? She will turn your offer down? Ok now your just going to come up with another way to submit your offer. Hope this helps

__________________

Reynold Orozco


Hey John

DON'T let someone's else thought affect your actions.

Here is my suggestion: REO's requires lot of earnest money deposit especially when putting offers on multiple houses.

I would say focus mainly on FSBOs just like Karen said.

Right now I'm focusing on FSBO until when I close on lot of deals under my belt and be able to raise some capital which I will use for making offers for standard sales and REO's on mls.

All the best

Favorite Quote Today: "You cannot force a good attitude upon someone. If they want to live unhappy, discouraged and in self-pity, that’s their choice. Don’t allow them to drag you into the pit with them."- Joel Osteen

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