Ive become a realtor and have strayed, help! - Posted by LenNJ

Posted by LenNJ on August 13, 2003 at 06:48:25:

Can you share with me how you obtained the funds to purchase these propreties?

Ive become a realtor and have strayed, help! - Posted by LenNJ

Posted by LenNJ on August 12, 2003 at 17:39:18:

Ok everyone first of all I have always read up on REI and thought it was the thing for me. I used to be mostly into sub2, or lease options. So fast forward till today- I have obtained my real estate license, and for the last 3 months have been in the same grind as many other realtors- and just looking under every stone for listings. It has been very discouraging. I know that being an agent gives me access to the MLS, and easy access to out of state owners, but at the moment I am at a stand still. Its like I lost my REI eye, I know that I can be a strong producer If I can just implement creative techniques. My question is too people who are either realtors as well, or deal succesfully with realtors. What techniques do you use if your a realtor, which fits really well and is easier to implement? Also, If you deal with realtors what makes them a good realtor, what do they find for you that others wont? I want to send out a mailer to out of state owners soon, and have a letter that I think will work good, but then again that is just for getting the listing which is fine.
What bothers me the most is calling FSBO’s and they instantly hanging up on me because Im a realtor. My ideal situation is to ask for there home at a discount, or possibly some terms, if they dont bite then turn on my agent side and get the listing. But nowadays I feel like a newbie since I dont know where I will get the money to purchase these homes, other then thru mtg. brokers that I use to qualify my buyers. Any suggestions or advice will be greatly appreciated.

One of the times I was licensed, - Posted by Brent_IL

Posted by Brent_IL on August 13, 2003 at 06:35:35:

I offered a seven-day listing for “qualified” properties. “Qualified” to me meant reasonably priced property available on terms or severely discounted for cash. The idea was to skim the best off the top. Because I never stayed around long enough to sit for the broker?s exam, the 1.5% to 3$ commission never made much difference to the deal.

If I couldn’t think of a way to buy it within 24 hours, I’d list it on the MLS and promote it in-house. If I had to go back in seven days I’d take the broker or another agent along so they could re-list for a longer term. I hated dealing with retail shoppers, so I was out of it.

It got a pretty good response because the sellers knew that they weren’t tied down. My response to floor time wasn’t as good.

Re: Ive become a realtor and have strayed, help! - Posted by BrokerScott (Mich)

Posted by BrokerScott (Mich) on August 12, 2003 at 20:01:32:

What about lining up wholesale buyers? Emphsize speed. One technique I learned from Craig Proctor and modified to my own purposes- “If you home doesn’t sell in 90 days, I’ll buy it myself” I offer to buy homes at near retail but bump up the commission, thereby recycleing my down payment and costs. I WILL do that but since a lot of sellers that call are pre-forclosure and don’t have a lot of equity, then I try to steer them to sub 2. Just a few thoughts. Best, Scott

When I DID work with a Realtor… - Posted by IB (NJ)

Posted by IB (NJ) on August 12, 2003 at 18:46:39:

it was one who listed REO’s for the bank before they hit the MLS. Find the realtor in your office who is listing the REO’s for various lending institutions. See if he/she would let you bring a buyer in on one of their listings.