Monday Morning Realtors....Grrrrrr - Posted by Joe

Posted by Rick on September 16, 2004 at 23:00:21:

Ok Bob

Monday Morning Realtors…Grrrrrr - Posted by Joe

Posted by Joe on September 15, 2004 at 17:39:26:

Every time I run a for-sale ad in the Sunday paper, I get a bunch of agents calling the next day. They act like buyers at first, asking about the house. Then it comes. Each of them must have graduated from the same continuing education sales course, because almost every one of them say something like, “My name is Ruthie Realtor, and I’m with Remax. How can I help you?”

Grrrrrrrr.

“Well, You can help me by NOT calling every freekin FSBO in the Sunday paper and wasting our time!!”

Pests.

Re: Monday Morning Realtors…Grrrrrr - Posted by Rob FL

Posted by Rob FL on September 16, 2004 at 08:54:54:

I have gotten to the point on my ads where I simply put in the ad “No Realtors.” Of course, now with the federal do-not-call list, these Realtors may be violating the law if your phone number is on the list. Most of the solicitation calls have gone way down.

Normally what I tell them when they call is that I am more than willing to pay them 3% if they can bring me a buyer, but if they want to list forget it because I can get the property listed in MLS on my own without their help.

Re: Monday Morning Realtors…Grrrrrr - Posted by Stan

Posted by Stan on September 16, 2004 at 07:57:33:

Actually Joe, I have met more idiotic investors than I have met idiotic realtors. Sure there are bad apples in in both baskets. You say that they should stop calling all FSBO’s. Why is that? Any agent worth his/her salt gets the majority of his/her listing from FSBO’s. That is like saying that all investors should not call people that are going into foreclosure, or all investors should not call on abandoned rehabs. You comment was not a very well though out comment. An incompetent investor is much more dangerous than an incompetent realtor any day of the week.

Re: Monday Morning Realtors…Grrrrrr - Posted by Rick

Posted by Rick on September 15, 2004 at 19:02:56:

HA!

That’s funny…But they are just doing their job. What you should do is come up with a better response. Figure out how they can help and tell them what you want. After all, they probaby have more buyers than you do. Make it work in your favor.

Re: Monday Morning Realtors…Grrrrrr - Posted by Mark-Chgo

Posted by Mark-Chgo on September 15, 2004 at 18:08:52:

Did you try adding “No agts” or “principals only” to your ad? It probably won’t stop all, but at least some.

Re: Monday Morning Realtors…Grrrrrr - Posted by George

Posted by George on September 16, 2004 at 09:03:12:

How do you get the property in MLS without a realtors help??

Re: Monday Morning Realtors…Grrrrrr - Posted by Steve

Posted by Steve on September 17, 2004 at 13:46:18:

An incompotent realtor is worse because they cost someone else money. An incompotent investor only costs himself money.

Why R you taking offense? - Posted by E.Eka

Posted by E.Eka on September 16, 2004 at 16:31:06:

This is Joe’s experience. He doesn’t want Realtors calling him. That’s his perogative to think that. There’s a reason the “do not call list exists”. it’s because too many people are bothered by unwanted solicitation. People do FSBO because they think they can sell the house themselves, not because they don’t know that realtors exist.

Re: Monday Morning Realtors…Grrrrrr - Posted by Joe

Posted by Joe on September 16, 2004 at 11:15:03:

You’re a hoot, Stan. Thanks for the laugh. I’m sure your comments were all tongue in cheek, because we both know how ineffective 95% of all agents are. I mean, seriously, why would they be working for tips when if they had a measurable IQ they would be making real money by investing.

Thanks again. LOL.

Re: Monday Morning Realtors…Grrrrrr - Posted by Joe

Posted by Joe on September 15, 2004 at 22:35:00:

“After all, they probaby have more buyers than you do.”

Now that’s funny!

They want a listing so they can sit on their butt and collect a check if it happens to sell, like 95% of all agents.

Re: Monday Morning Realtors…Grrrrrr - Posted by Rob FL

Posted by Rob FL on September 16, 2004 at 10:05:15:

I have a broker’s license so I can put it in MLS at no charge. There are discount Realtors around, like myself, that will be happy to put it in MLS for $300-500.

Re: Why R you taking offense? - Posted by Stan

Posted by Stan on September 17, 2004 at 08:18:28:

Then he should do as RobFl says and put a statement to the effect that agents are not protected.

Re: Monday Morning Realtors…Grrrrrr - Posted by eminem

Posted by eminem on September 16, 2004 at 14:28:12:

Joe,

What’s YOUR IQ? Did you read what Stan Wrote? Can you read? Are you investing or speculating?

Did you just make some money off a couple deals and now you are Mr Hotshot Investor? That’s the impression I get. Now you know everything and therefore anyone who is not doing what you do must be an idiot. Go Get Em Tiger! :slight_smile:

Not so fast… - Posted by Stan

Posted by Stan on September 16, 2004 at 12:31:47:

First off, this post is not a outlet for either bragging or for/against realtor. I/we have all been hearing for ever how real estate agents work for tips. Or if they had any IQ they would be investing themselves. This agument has been around for ever. My story is that I was both for a while, that is I listed real estate and invested in real estate. Think about this for a second Joe, I am only one person. I have enough resources for only so many deals. My margins were actually higher listing real estate than investing. Sort of funny how this works out. But the long term benefits far out weigh the investing side.

But back to my point. Right now, I have about 10 projects going on. That is what I am comfortable with at anyone time. I have been doing this for about 3 years full time. I am still assembling my team (this was something that I thought that I would be able to do in a month). In this business you are awlays evolving. Right now I beleive that the team that I have is a pretty impressive core of individuals and contractors. I said all of this to say get this point across. I am just one person with a set amount of resources. These ten houses represent about between 1.75 and two million dollars in inventory. For me and my team, that is what I am comfortable with. From completion to end this would be about seven to eight million a year in sales (not margins). There are people here that I am sure do much more than this, but I am proud it. Now go back to when I was listing. My last year of listing, my team (myself, a buyers agent and assistant) had 30 million dollars (both buy/sell transactions) in closed transactions. Tell me Joe, with your bright IQ, would you be able to have bought/sold that that type of volume? I’ll tell you right now, I would not have even been able to come close. Wasn’t a bad living if you liked the long hours and crazy schedule.

Re: Monday Morning Realtors…Grrrrrr - Posted by Rick

Posted by Rick on September 16, 2004 at 14:12:50:

You can keep hating Realtors all you want but you would be alot more effective if you figured out a way to work with them on your terms. You are the one still advertising the home so right now you have ZERO buyers, so yes Joe they have more buyers than YOU. Love 'em or hate 'em they control at least 80% of the market or more. We all love to hate lawyers too until we have to go in front of a judge!

Actually, I agree with Rick - Posted by ken in sc

Posted by ken in sc on September 16, 2004 at 07:16:30:

Use them. Say “I want 140K for the house. So just add any commision you want and I will be glad to let you show it. I am not going to sign any listing agreement, but we can just put your commission in the contract.”

You never know, they just might find you a buyer.

Ken

Re: Monday Morning Realtors…Grrrrrr - Posted by Joe

Posted by Joe on September 16, 2004 at 14:59:00:

Man, this is entertaining! Touched a sensitive spot I see. But I knew it would get a great reaction.

I’m a full time investor, and have been investing for about 7 years. And I promise you, there are no more than 5% of all the licensed agents in the country that are worth their commission. Maybe you are in the top 5% “eminem”.

“Mr. Hotshot Investor”? Uh, I take that back. I guess you’re not in that 5%, after all.

LOL!

Re: Not so fast… - Posted by E.Eka

Posted by E.Eka on September 16, 2004 at 16:33:38:

Who cares…Joe was merely talking about his experience and his opinion. You decided to take a offense to it.

This might be illegal - Posted by Mike

Posted by Mike on September 16, 2004 at 07:40:25:

in states that have banned net listings. Sure you can always ask, there’s always an iD$#T agent out there.

He might bite if you are the one that originated the request. Fact, if you were to come to me with such a proposal I’ll bite but only if you sign a purchase contract at the price you want. I’ll just flip it.