Posted by JoeB(Atlanta) on February 23, 2000 at 14:29:23:
Hi Benny, answering your questions…
1)The main target in almost all of your successful investing should be a motivated seller. The motiv. seller will usually agree to the best deal, with the least amount of hassle, and often agree to creative seller financing. Find a way to locate these sellers or have them call you (via marketing), and you’ll love this business!
2)Many investors dislike realtors because realtors seem to dislike creative deals and can ‘shoot down’ a deal that you and the seller were just about to agree on (side note: not all agents are ‘uncreative’, but of course the uncreative ones get all the bad press).
Realtors that are mainly Buyers Agents should have lots of buyer clients, but these buyers often times will take longer to close (due to bank financing), require inspections and repairs, etc, etc.
All these delays, etc. can scare the motivated seller–who usually just wants a quick close, as-is, for cash.
3)No, I don’t believe FSBO are usually hiding something like ‘murder’!! Some sellers need a quick sale (like I wrote in #2 above), some don’t have equity or don’t want to pay an agent’s commission, and some just don’t like agents. There are many innocent reasons for not listing with an agent.
But you raise an interesting point: if this house has been for sale (with or without an agent) for awhile, you should try to determine why it hasn’t sold (price, neigborhood, dogs in house, crime, etc). So that you’re not stuck with the same problem.
Hope this helps,