OfflineHi Everyone,
I'm at the stage where I am getting my foundation established and one of those pillars is finding, what seems like, that all illusive cooperative real estate agent who actually believes in my vision.
Admittedly, I have not pursued this monumental task until now, but the forum seems to be filled with fellow investors who have run into real estate agents who've rejected them as though they were asking for their kidney! I am about to send the letter out to see which agents might be interested . . .
Does anyone have any suggestions?
Should I contact the branch manager of the various real estate brokerage branches and ask them to email me the individual emails of all their inhouse agents or simply email the manager with the hopes it will be distributed (which I doubt) to each agent? I can certain go through the pain-staking task of finding as many online emails as I can and hope for the best . . .
What would be the best way to approach this?
Has anyone done this successfully? If so, would you share your story and possibly your letter? I've written mine, but naturally, I would perfer to make the best first impression possible, and perhaps yours might help inspire me and undoubted countless others.
Have an outstanding day! I look forward to the feedback . . . Thanks in advance!
PJ
PJ,
You are right a good RE agent is key to the process. I found a guy who has bought in to what I want to do and although we have not done a deal yet, we have made about 15 offers. The first deal is just around the corner. I basically used Matt Larsons letter (with minor changes), "Profit from RE right now" page 114-15. What I did was spend a day on the web (whitepages.com) and got listings for agents in my area. I either pasted my letter in to the email response off of their web site or I would fax my letter to their office. I think it is a matter of the right person getting the fax or email. Seems to me as though most RE agents dont want to work with people like us as it is too much work and (they think) too little pay. Once the system is rolling, I believe many agents will be more interested in working with us.
I believe that for the most part a branch manager will not give us the time of day as they want their agents to work with the conventional retail buyers who generate larger commissions for less work.
For me, I sent out about 40 emails and faxes, talked to about 10 on the phone, interviewed 3 and found one agent that was a good fit.
The book also suggests, word of mouth from fellow investors, friends.... Also, REI meetings are a good place to make some contacts.
You will find one soon!!
Erik
You shall send the email directly to the agents.
But concentrate on the ones that are investors themselves. I have found two, but I have not make any deals yet. I will as soon as I start on REOs. Don't be intemedated by them, they are doing the same thing we're doing, they just have to have license to make the brokers rich and that my friend is the big difference.
max
Commit to the Lord whatever you do, and your plans will succeed.
Prov. 16:3
"I am talented. I am creative. I am greatley favor by God. I am equipped. I am
well able. I will see my dreams come to pass."
Joel Austin
Thanks, Max! I appreciate your insight! PJ
Erik, thank you for responding and lending your insight. It's very helpful! You were outstanding to step forward and help and Im grateful. Have an outstanding day my friend . . .
PJ
Wow. For being a new member to this family I have to say that I feel right at home. Thank you for the advice. I just want to let you know that your posts are not going unnoticed.
Richard
Bothel, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
Anybody happen to know of a Real Estate Agent in Southern Illinois who might be a "Dean disciple"?
Thanks.
A good real estate agent can make or break your deal. With the real estate market as slow as it is, I've actually found that my most stable form of income has been from my rental agreements that I've signed on a few rental properties. I actually used to do VERY well, as a real estate agent, but because things were slow I turned my second home into a rental property and have since had a few sets of tenants now sign rental agreements. Anyway just a thought, for real estate agents struggling to make ends meet. Miami title company owners are not attorneys, so always use a real estate attorney instead.
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http://www.southptc.com/florida-home-refinance-mortgage.html
PJ, have found some good realtors by posting on Craig's List for a realtor w/investor experience. Your local REIA can give referrals, too. You might want to work with several realtors, since what you'll need from them is more labor-intensive than what a retail buyer needs. Also, realtors within the same geo area have different listings, esp pocket and expired.
Give your realtor(s) your written criteria for screening properties. Stay within it to save everyone a lot of time and work. If you want 60+ day old listings for 3+B/2B SFH with a 30% discount off ARV before repairs, the agent shouldn't send listings that don't meet or come close to that.
Some agents will tell you they have investor experience. If their experience is with buy-hold investors and you're a flipper/wholesaler, you might have trouble working with them. You may need to try several agents before you find one who can give you the info and quick turnaround you need. If a realtor can't get you comps in a few hours and submit your offer by the next biz day, they're probably not a good fit.
If you can't find a good realtor to work with after a few months, consider getting your license. Could be well worth it. Best of luck.
Liz Eastlake
The Eastlake Group LLC
Richmond, VA
Im going to give this strategy a try. I am going to see what I can get this week since I have not tried yet since I am still reading the book. I'm almost done with it but as soon as I get done with it I am trying this strategy for sure