Real Estate Agent ADVICE

Good morning Donald, Jean-Paul & Christopher

Check out posts by Matt Larson. He has a lot of great things on this site. Rina is another great one to read. Indiana Joe is another. He is the heavy hitter on this site. All have great things linked to their profiles.

I'm currently working with whom I consider to be a rock star agent. I looked him up online and found out he was agent #8 in all of Tennessee this past year and he lives in my town.

But I may soon look for another agent. Jury is still out but decision coming in the next 2 weeks. He needs to deliver more. I have now almost closed on 2 houses (2nd closing is this Friday) with him since January (we just started at the beginning of January together). To me, this is not enough. My goal is to put out 20 offers a week, similar to Matt's plan pf 25:1. Definitely look into anything Matt says on this site for sure!

The issue is, he may be "too busy" for me. You do need someone with experience, preferably an investor as well who understands investors and their needs, but you definitely need someone who can give you the attention you need. I have not put in offers with him in 3 weeks now because he doesn't get them out fast enough, and doesn't follow up in a timely manner with these listing agents, and frankly, isn't really "working" it for me. I can tell.

You are relying on a "third party"...your agent....to get things done, and to truly "work" these offers by talking to other agents, and getting a feel/read on it, and getting the word out that you are the "go to" person (through your agent) for the right kind of deal (this is if you're going after the 25:1). Your agent is therefore so critical to your success, because if he/she doesn't believe in it, or doesn't feel like "cold calling" other agents about low offers on properties, then your agent may not be hungry enough. So find someone who has a moderate success rate as far as experience, but more importantly will do what it takes to get the job done for you and truly be a "personable" liason to EVERY other listing agent out there. They truly have to be ON IT, and if they are too much of a rock star already, they will not be hungry enough to pursue it for you and/or may claim to be "too busy". If they believe in this, and it is for them, it WILL be the right fit, and they WON'T be too busy because you will be closing on a few properties a month with them once you get rolling.

But don't hesitate to get another agent if need be. It takes many investors 3 to 4 tries to get the right agent.

This works! Matt does it. Don't question the process...just do it, and find someone who is EAGER to help you. If you don't find it at first, no worries, politely move on to another agent who will be more eager to help you!

Congrats on getting started and all the best to you as you put your RE team together!

Cheers!
Louisa

Thank you for the compliment! I am a new by here and am very eager to learn. Oh and congrats to you on closing your deals! I don't have much money right now, so can you lead me in the right direction to get started? I don't want to get too overwhelmed with information because I know it will paralyze me and I definately don't want that to happen. Thanks in advance. Oh I do have a house that a friend purchased as a investment property about 3 years ago. He never completed it and now wants out. I think he owes about $108,000 on it. Any advice on how to move this?

I will tell you this; if you want to find and work with an agent or broker to work with you that deals with cash investors, I suggest you work as independent as much as you can.

I know on here the thought is that the agent is supposed to be honored to work with anyone who says they invest, but the truth is, the only thing that makes us move are results and money. And unless you have done this before and have the funds available or someone knows and vouches for you, don't expect too many knocks on your door.

The 'rock star' agents can afford to be choosy, and sometimes putting in offers that have little to no chance of closing might not be worth their time and also doing this tends to alienate them from other agents. The truth is customers come and go, but your relationship with other realtors lasts longer. I personally do not do the 25:1 option, its just not worth my time and I work only with cash buyers who don't buy off of the MLS.

I would be honest when you speak with them, and look on your own without depending on others to have your own piece of mind and know you're coming into this well versed.

Good luck to you. You're going to do well.