Re: What should I say to a realtor? - Posted by JPiper
Posted by JPiper on January 21, 1999 at 14:30:48:
I would never present myself as you?re describing.
?I work with several private investors???.. I don?t like this for several reasons. One is it makes you sound like you?re not the principal. You?re not the decision maker. These private investors are. Second, the word ?investor? is not a word I personally ever use to describe myself. It brings up negative connotations in my opinion to most Realtors.
I save words like ?below market value? for another time and place. The fact that you?re looking for fixer uppers, properties that need work is enough. These will be below market. And later when you submit your offer you can explain to the Realtor that you do the fix up so that you can make a profit.
?Call me when you think you have a deal and I will present it to my investors??? without wishing to be redundant, you?re not the principal, someone else is. Maybe you even need a license for this.
In short, you?re getting some feedback?.it?s not working. You need a new script.
First, I wouldn?t call Realtors for the sake of calling Realtors?..just a personal opinion. I would call a Realtor about an ad that struck your interest in the paper. Let?s say you call a Realtor?s ad that says ?Fixer-upper?. Call and introduce yourself. Tell them you saw their ad. Ask about the property. During the conversation at some point when the Realtor asks you a few questions, tell them you ?like to buy properties to fix up if you can make a buck at it. You can close quick, and you will pay cash.? That?s enough. If the property is of some interest, go see it. Start creating a relationship with the Realtor. Call the Realtor back periodically, ask them if they have any new properties that need some fixup. Don?t automatically expect the Realtor to call you with deals. That may come after they see you performing, but probably not in the beginning. That?s OK though, stay in touch. You can call more than one Realtor, that?s OK too.
Notice I?m not using words like ?investor?, or ?my partners?. These types of words are like warning bells to Realtors, saying that here?s a guy who?s going to lowball and waste my time. Realtors aren?t interested in the fact that you?re an investor, or that you have partners. Realtors are interested in making commissions, and if they perceive that you?re not real, that you?re not a principal, you?re out of there.
Listen to what the Realtors have to say. While you?re discussing the property that you called on, ask them about their business. Ask if they get many fixeruppers. Ask if they ever deal in REO?s. Get to know them, create relationships.
And get rid of that spiel.