I need a CASH SOLD list in Atlanta!

Adam,
You say in your post that you built rapport with 9 agents and then when you asked them for the cash sold's list they disappeared. This is an easy one...find 9 more. If they disappear, find 20 more. Real estate is a numbers game. You just have to keep looking for the motivated agents who don't just want to list and sell houses. Atlanta is a good market from what I heard, you should have no problem getting an agent to work with you

Most real estate agents prefer to work with retail buyers. Once they took wind of your plan, they most likely ran to the hills. No agent wants to be blacklisted. Unless you have a buyer agency representation agreement, the agent's fiduciary is to the seller. By law they must look out for the highest and best interest of the seller client. Presenting lowball offers is not the highest and best interest of the seller client, it's the highest and best interest of the buyer customer! As long as they don't have an agreement with you, then by default they represent the seller client.

Simply searching for another 20+ agents will not do any good. Yes, real estate is a numbers game, but it's all about smart numbers that really matter. It's not a wild goose chase in the hopes of getting lucky and finding that one golden goose agent! Suppose you find that one agent and for some reason they're no longer available after some time, what do you do then, go on the chase again? That will make you a professional agent chaser. Logic tells us that there must be a better fly trap out there.

Find a Title Company in your area and call to ask if they have a rep that works with investors. Set up an appointment to go in to talk with him/her face to face. People will help you more if they have met you and you aren't just a voice on the phone.

Ask her what kind of "farming tools" that they have to help you market your business. She should be able to pull a list for properties sold in the last 90 days for cash. Have the specific zip codes that you want--not just ALL of Atlanta! She can also pull a NOO (non owner occupied) list for you.

When I was in LA, I had a great title rep! She not only furnished all of this for me, but printed 3,000 free mailing labels for me to use on my post cards.

See if that will help.

Karen

Even though that great title rep helped you, did it yield anything of substance? You still need an agent to advocate your position. These agents are trained to use negotiating techniques to help their clients. The buyer's agreement will give the agent all the rights and privileges of representing their buyer client. It will also assure them the compensation they deserve after all the hard work they put in to procure and finalize your deal.

Even though that great title rep helped you, did it yield anything of substance? You still need an agent to advocate your position. These agents are trained to use negotiating techniques to help their clients. The buyer's agreement will give the agent all the rights and privileges of representing their buyer client. It will also assure them the compensation they deserve after all the hard work they put in to procure and finalize your deal.

You're absolutely right, I was so used to having things set up in Denver that I forgot what got me here in the first place!

Ps. Finally found a few agents that are pretty great to work with so far! Got to keep pushing!

I'll definitely give this a try. Some realtors wanted a Skype interview given that I'm in Denver and my investing partner and I are going to be wholesaling in Atlanta, I do have in honed down to one county and have specific zip codes. Trying to build that buyers list and look for the hot activity!

Great point but I shied away from signing any exclusive agreement because I'm not aware of how that works and if that means since I'm wholesaling, which they don't know, does it bind me to having to work with them even on properties I find off market?

My main goal is to find an agent to help me get a cash sold list to build my buyers list and see where the hot areas are in Cobb County Atlanta. I'm sure I'll be wholesaling double closing deals but am thinking, "gosh if I don't buy a deal in a month this realtor will think I'm a joke!" haha just a lot of doubt I have to get over and keep pushing!

Everything is negotiable. If you're worried about the prospect of finding properties on your own, then let the agent know and have that excluded from the agreement. The general agreement stipulates that in the event the buyer buys through another agent, the buyer is liable to pay the current agent the commission they would have received. In other words, the agreement will generally say that the agent is entitled to 2% when and if a deal is made. That does not mean you'll be paying the 2%, it simply means that they will collect 2% of the purchase price from the seller. But in the event you purchase from another agent, then you'll be liable to pay the agent their 2% commission regardless whether you used them or not. The time frame of the agreement can also be negotiated anywhere between one to twelve months.

In any case, you simply can't use the agent to extract information and not give them a stake in the deal. It might work once, but they'll soon be privy to your antics. Even if you plan on wholesaling, you still need to have an agent who can run the comps and advise. You'll need to factor the cost of this service into your offer. Everything has its price and an agent's service is no exception. They're like any other part of the team, it requires grease to run properly.

The whole point of the agreement is to have the agent work for your best interest. If you plan on offering low then an agent agreement is a must. They will not intentionally lowball for you unless they represent you. It is not only dishonest, it's also illegal. Their license can get suspended if they work against the seller's interest while representing them at the same time. Remember, without an agreement you're just a customer. The listing agent and the selling agent are both on the seller's side. You're left alone to represent yourself.

DO NOT SIGN AN EXCLUSIVE AGREEMENT WITH THE AGENT!!! It is not necessary and can be detrimental in the long run. If they do not perform and you are having find leads through another agent or contact listing agents yourself, you will owe them a commission!

If you submit an offer to an agent (even if it is a low ball offer) they are obligated to present it. It IS NOT illegal for them to present a low offer! In fact, if they do not present ALL offers received they can lose their license. It is not up to them to decide what a seller will or will not accept.

You can also find all your own comps and do not have to have an agent to "advise" you! Actually, most of them know very little about the actual business. The majority only get enough training (usually study done on their own) to pass the test. Very few of them stay in the business for more than a year.

Karen

Yes, it is not illegal to give lowball offers and agents by law must present every offer to the seller, however, we need to further expand on both for clarity.

1. Without a buyer's agreement, the agent is not representing you. In other words, they are not on your side and will not put extra effort to explain and convince the seller why they should accept your offer. If they do that without an agreement, then they are violating their fiduciary relationship with the seller. They can get their license revoked or suspended. And since your offers are always going to be low, then you must provide other advantages such as a quick close and/or all cash deal. If the agent is not on your side, then the only concern for him is the offer price. The higher the number the better their commission. All the other so-called advantages you offer will go out the window. So in essence, they are looking out for the highest and best interest of both the seller and agent. The buyer is left out to dry with offer in hand.

2. Even though they are obligated to present every offer, what guarantee do you have that they actually will? Who is going to monitor their actions? Even if they do, they can always advise their seller to wait for a better offer. Plus, they have no incentive to push your offer. A lowball offer equates to low commission. The only way to make sure the agent is truly on your side is to give them a guarantee that you will work with them and the only way to ensure that is through a buyer's agreement. No agent is going to show you properties, pull comps, and do research without a guarantee that at least they will be compensated for their time and effort. In fact, ask the people who advise you otherwise whether they'd work for free?

3. It's baseless to say that agents are only trained to pass the state exam. The purpose of the state exam is to weed out the duds. Every licensed agent knows that very little of what they studied for the exam is useful in their practice. Almost all brokers provide real-world training for both new and experienced agents. This is a fluid and continuously changing marketplace. All good agents must take continuing education courses and attend seminars periodically.

4. Another baseless broad brush statement is on the fear mongering opinion that you will be conjoined at the hip with your agent. You can stipulate and negotiate anything in the agreement. In fact, I would suggest you limit the term to 30 days for starters. I would also interview the agent and ask for references. Talk to other wholesalers and service providers such as title companies and escrow offices on who they recommend.

5. Let's suppose you contact a listing agent on your own, then what? The listing agent is again not on your side. They represent the seller. They're surely not going to work against the seller's highest and best interest. You're going to have to fend for yourself, AGAIN! On the other hand, no skin is coming off your back if you have an agent representing you. The commission your agent earns will be paid from the seller's side. So, what is it that you're really risking or giving up? You're getting free service and representation all paid compliments of the seller!

The bottom line is that you need full representation for every offer. You do not want to represent yourself because first, you are not a trained negotiator and second, you are not in the negotiating room when the offer is presented. There are no two ways around this. Whenever anyone offers advise, please ask that they not generalize and to restrain themselves from interjecting their personal biases. This business is too risky and volatile to simply listen to the convoluted opinions of aunt Alice or uncle Bob.

Hi, Adam, Re: How to get Cash Sale List from Realtors. I have no idea why the Realtors don't want to get you their Cash Buyer list- perhaps you would be able to contact them directly and do the deal?
I was told that the the County Assessors Office which lists the residential properties has a Cash sale data notation. You can tell the cash sales if the property is Not listed as the same address as the buyer's address or name. Hope this helps. Nothing Succeeds Like Success!

http://www.deangraziosi.com/real-estate-forums/everything-else/106174/fi...

Yes keep pushing i dont why they wouldnt give you a cash sold list I always get one no questions asked, maybe you are spending too much time speaking with them. If you have spent more than five minutes speaking with them on the ph you have messed it up, or meeting them in person i hope you are not doing that either-its a waste of time.

Just invterview these agents and them ask them to send you listings and then when they send you the listings ask email them for a list of cash sold properties for the past 90 days in the hot areas, period.

You shouldn't have a tough time getting that so I echo everyone(almost everyone:) here, go for it get that list and a title co too(good stuff karen) but get agents too and keep pushing, dont give up.

Advice to simply keep pushing and don't give up is no advice at all. This is not a numbers game. It's about playing it smart. Is the agent suppose to do all this research out of pity or just humanitarian reasons? What is the incentive of the agent in providing this information? How would you like to work for free? If you're interested, I have tons of things that need to be taken care of, I'll be more than happy to delegate them to you if you like.

The bottom line is that no agent will perform without an incentive. Simply saying not to give up is not going to change a thing. The real world functions on the principle of action and reaction. Give the agent what they want and you shall receive what you want. This principle is true in the wild as much as it is in our civilized society.

Do you think maybe because they don't have an incentive? Do you personally tend to do things merely out of the kindness of your heart? Ever noticed that businesses tend to work and look out for their best interests?