Offline1. I called all of the Keller Williams offices that are present in the state of Georgia, and from what I heard from most of the agents as I requested info. from them, they charge an hourly rate of sorts just for REI consultance and any related activity, such as pulling listings with specific criteria on demand. I had an earlier appointment also with a Re/Max agent, who told me I would have to hire her in order for her to willingly aid me in my 25-to-1 REI venture, and did I just come from a seminar of sorts.
-Do I have to hire agents to send offers, or could I do that by myself?
2. I heard that agents usually provide the best comparables; I had one agent send me comps through email for around 4 properties that came from the email listings he sent me, and the comps he sent were based on properties that have not sold yet; I replied to him the correct way to do comps and to rerun the previous batch, but quite some time had passed, and I have yet to hear from him on the matter.
-Should I still seek to run comps through agents, or could I do them myself?
3. I plan to send in about 5 offers per day by myself;
-Should I only commit effort to offers that have been countered, or do I have to call negotiations on every single offer, regardless on whether or not the seller attempts to counter?
---still thinking of more questions...maybe.
When you call around interviewing agents don't not tell them that your an newbie and especially don't say your wholesaling and you want to follow a 25/1 strategy. Most agents will not want to work with wholesalers, they do not want you wasting their time on trying to wholesale a deal. Just simply tell them you plan on doing many flips and might have some partners that might come in on some deals with you. And about comps, an agent would get you the best comps but you can also use sites like Zillow and Appraisal.com to pull some comps.
Reynold Orozco
If an agent is trying to charge you for services such as presenting offers or looking for properties, RUN!!!!
Agents work on commission. Part of getting a sale requires some work to get to the sale. If an agent does try to charge for services they are probably saying they do not want to work with you. They simply do not have the guts to tell you to your face. You would have been better off if the agent had not wasted you time.
Some things we can do on our part would be to avoid discussing our buyers with the agents in the beginning of our relationship. Also, try not to overload an agent with several offers. Get other agents to work for you.
Spread around the work and you will see better results.
Roy Voeks
Official RE Coach
Yet another question:
-The typical Offer at most for 25-to-1 for Assigned properties would be 70% of ARV minus $15,000 of Rehab Profit minus $5,000 of Assignment Profit. Would I only change the Offer Formula if I apply the same formula to 25 properties and none of them budged their price?
I was always told that I should treat REI as a business and not a hobby, but I do not know what it is like to treat something as a business. I guess I am trying to work my REI with due seriousness, but I do not know whether or not I am doing enough as I should.
Ask them if the hourly rate they charge you will be deducted from future commissions.
Please my friend. Before you go any further read Dean's book "30 Days To Cash." Follow Matt Larson's instructions for finding a real estate agent...follow it to the letter, it works. I found a RE agent with Keller Williams on the first try...we met up and I bought him lunch, explained what I desired to do in my RE business and what I desired of him and he was definitely open to working with me and he is forwarding listings based on my criteria just like Matt said. Dean's book will clarify any confusion you have about finding a RE agent to work with. Also, perform each assignment as instructed throughout the book. Read/re-read the chapters as much as possible to get a clear understanding of what you should be doing. Be patient but persistent and you will get to where you want to go.
Yours in Success,
Frank
I use a software called freedom soft from ****.com I also utilize this software to get properties bought for cash and address, cash buyer leads, seller leads from anytown in the USA. Of course you have to be able to afford it @ a minimum $97 a month for the package that I have. I can pull up comps pretty quickly even use the software to make offers and to send out mail campaigns. I am working on automating my RE business and this is a good tool to help with that.
The last couple of bumps were supposed to be only one, but the site lagged a bit on my end, and ended up making more than one at once.
I am actually a licensed real estate agent. If an agent is trying to charge you for their time then you don't want to work with that agent. A good agent knows the risk of working with people and possibly not getting anything out of it. DON'T pay them.
It might take you a few more calls to get a good agent. I would guess that 15 calls would hopefully yield a decent agent. I echo what has already been said in that you should read 30 days to RE cash from Dean. The coaching you get from Matt Larson is the way to go. Remember, the agent works FOR you.
For a MLS-listed property, would the RE agent who listed the latter be able to block an offer if it is set too low a number, and not let the property owner have a chance to view it? Might sound ridiculous, but just wondering.
They are supposed to submit every offer but I believe many of them don't if they don't like it. Just my opinion.
Just a while ago, I quit searching for agents and just focus on sending offers on my own on MLS-listed properties. I felt it to be rather tedious and a waste of time looking around for an agent that's right for what I am doing at the moment, which is still wholesaling. I still only made around 10 offers so far, most of them done with an agent whom decided to part ways with me after a couple of offers. With the offers, I usually send out my initial offer first before asking for further details about the seller's home. I never got to asking them for the details; nearly all of the sellers that I am offering to communicated(through their listing agents) that my offer was too low to even make a counter, and thus I moved on.
Now I wonder whether or not I should evaluate their home first before making the offer. Which should come first?
Just read Dean's book: 30 Days to RE Cash. It will answer all you questions. Have a great and bountiful day. Good luck!
If it's to be, it's up to me! Believe in YOURSELF!