So my broker submitted my 28 first offers. I left room to negotiate in all these offers. I called my broker to see what the status is and that my first offers all been rejected. Not a big shocker.... I asked him if he submitted my Max offers and he said no because the listing agents won't take any unreasonable offers. It is sad that my broker just gives up like that. What the heck do I tell him?
How frustrating...
__________________
And always insist on WRITTEN rejections so you know if they've actually been submitted. But no sense fighting with someone who obviously isn't seeing your vision. On to the next.
Good luck and don't give up!
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Make Sure he sumbmits all offers...Like Rina said insist he give you written rejections...And Also in some states its against the law for an real estate agent/broker not to submit all offers it does not matter if an offer is so low...
Just like others have said, get him to show you proof of whats going on. My guess is it sounds like he looks at it as he wants to make a million bucks in one deal or all bets are off. And yes in alot of states it's against the law to not submit an offer "just because" but they wont tell you that, you'll have to bring it to them.
I would suggest gonig through more brokers until you find one thats willing to work with you on your terms but also educate youself on what and what not brokers are allowed to do then remind them of this to keep em straight.
If a broker wants a good long term partner they'll do what they must to make deals happen including submitting low offers.
John 14:6
...
John 14:6
let that be your learning curb.
and move on. that broker is not the only one.
find another one....
Alaskan Success,Inc
Everyone is right, find a new realtor. You may go through a number of them before finding the right one, just don't watse any more time on this one. I had one that are so called investor and she did the same thing you described.
JUST KEEP GOING!
Donna
"Don't tell me I can't, Tell me how I can."
I cant tell you how many times when I pitch what I want to do to certain brokers or agents and they practically throw a temper tantrum about using properties as investments/cash flow deals. So in that case you have to move on, though once and awhile you'll come across an agent that has to be "persuaded" if you will in the form of YOU telling them all your idea's with some good proof in knowledge that it will work with some real life examples from a friend perhaps.
When speaking to one agent in NY, I reffered to Matt Larsons story of how he started in 05 with almost nothing still working full time and now he has over a million net worth and one good agent that he works with to get alot of his deals. This helped open her mind a little bit to what I was doing and assure her with an example that it is very possible to make lots of good deals in this "down" market.
Just keep pressing on, you'll find that special group of people that see your vision and want to help you make it happen.
John 14:6
I greatly appreciate your help and advice.
If I where you I wouldn't even deal with them. I would buy my property from some other agent.
You need to search and find and agent that is willing to work with you and can think how you do and understand what you want to do. Find one that wants to get these offers accepted and never turn you down.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen
I had a similiar experience to yours. I had done a craigslist ad looking for an agent and had one respond. We met and I really liked the guy and we had similiar hearts. However-I did not follow matts advise in CH 6 of" Profit from real estate right now " by not setting the stage in advance by telling them that Lots of Offers would be submitted and these Offers were all going to be Low and that other agents will be offended. The right type of person is not that bothered by these things; and after our initial offers were rejected-I could tell my agent didnt have the mettle for it. Also-communication became more and more difficult -so eventually we had to part ways. Hopefully -you and i will find another one is not afraid to offend other agents with low offers; and be able to explain the script given by Matts Agent Star: www.deangraziosi.com/agentscript . Better luck with next one.
JER 29:11 Thoughts of Hope; thoughts of a blessed Future
Great feedback Rina....you're sooooooo_very RIGHT ON!
John
Attract Private Investors to fund your deals so you can do more deals while using Other People's Money (OPM). For more info go to:
http://www.mcssl.com/app/aftrack.asp?afid=1029023
Regards,
John <>< Future DG & DL REI Billionaire
ASPEN PROPERTIES "I BUY (ALL CA$H), HOLD, LEASE & SELL Commercial and Residential Properties" ANY LOCATION, ANY CONDITION, ANY PRICE
http://ctaffordablehomesforall.usapropertywholesale.com/
Not to be the odd man in this conversation, but while I see and agree on the point of him movnig on, you also have to understand the point of the realtor who feels like he/she was probably wasting their time with all of those offers getting denied.
Like i've said before i'm both an agent and investor so I see both sides of the coin, and this market is T.O.U.G.H. right now and if someone were to give me 28 offers to present, i'd probably wouldn't spend too much time with them if they all got denied either. Its all a matter of circumstance, so lets not browbeat the agent because one thing all of us cannot get back and that is time.
AM, good luck on your journey, but maybe the next time you find several agents to spread your offers around to and be upfront in the beginning, because maybe he/she thought you were an amateur and after so many offers, lost patience w you.
Again good luck and make that money
knew what I was doing, and he simply agreed to it. I also told him that I would be doing double closings on all these deals. I've have interviewed a lot of real estate agents, until I found this broker that was willing to help me. All the real estate agents said that this is not the market for double closings. I will eventaully prove them wrong. Whoo hoo!
Thanks for the advice. Much appreciated to all.
I found a real estate attorney to review my contacts. Whoo hoo! The only problem is accessing the MLS now. Argh....
amvg22,
I have this website that you can look at the MLS and not sign up for anything.
www.themlsonline.com
Check it out, it is my favorite site to look at properties.
Hope this helps!
Jen
Jesus looked at them and said "With man this is impossible, but with GOD ALL things are possible." Matthew 19:26
"I know the price of success, dedication, hard work, & an unremitting devotion to the things you want to see happen." Frank Lloyd Wright
"If we did all the things that we are capable of doing, we would literally astound ourselves" Thomas Edison
"This time, like all times, is a very good one if we but know what to do with it." Ralph Waldo Emerson