My partner and I have emailed 61 realtors. We stated in the email that we were investors looking for a house in need of repairs. We wanted to buy the house so that after sales commission and rehab cost were subtracted, we would realize a 15%-20% profit. We've gotten no response in several days.
Advice please. What should we have said differently?
Thanks in advance to everyone that replies.
timberline
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My name is Carol and I live in texas. I have contacted numerous, realtors, some say to me on phone, you better have a cash buyer to back up your sale, Some have been rude, so I say I am going to write an offer on this home.In speaking with some realtors, they tell me to my face, they dont want to hear about, wholesailing. I am going to contact new realtors today, see what happens.Carol in Texas
You do not have to tell them that you are going to wholesale the property or flip it or anything like that.
Just tell them that you are buying cash and would like to present an offer. I have MLS access so all i do is e-mail the offer and wait for the answer. most of the time I never hear back from them some others come back very upset for the low ball offer and some others counter offer.
I have not have one offer accepted yet.
I am going to start looking fo homeowners directly.
I feel my first deal close!!!
Phone conversations out weigh email results hand down.
You can filter out the ones that don't fit quickly and start building relationship with the ones that do.
Bottom line, most people may correspond via email, text, etc. after establishment, but I know from personal experience when someone send me a pm, email for contacts me in anyway trying to do business. I ALWAYS will give them a contact number tand say call me to discuss. At some point you have to come out from behind the curtain and to business 'face to face' so to speak or in this case talk, have converstions and build relationships.
I know what you are doing, I did the same email blast when I started from the book. Not that it's wrong but as times change so must techniques. But then you learn what is the best use of your time and gets you results QUICKLY. It's all about the ROI. Spending 1 hour typing a message and gathering emails address, blast out email = no response. OR spend one hour calling RE Agent office having admin prescreen give you direct contact to the investor friendly agents. (Over and over) (also email was from Matt, now Matt is teaching on calling receptionist for pre-screening.....things change - lol). So in 1 hour calling 10-15 landing 1 or 2 candidates to work with.
Blessings,
Jen
Thanks for the responses.
The idea was to have them do some of the math to sort out possibles. We gave our phone numbers, no one called back.
Our next plan of attack is to look for listings that might fit our parameters and call the agent directly, what Jen said. We had hoped to find an agent that was ambitious enough to do some of the work for us. Oh well!
Thanks again, everyone.
timberline
good stuff everybody
"dump the clutch and nail the throttle"
"Just do it, Get it Done!"
--Matt Larson
Emails will almost never work. Phone calls are more direct, and you have more control. You may have to make at least 20 to 30 calls because not all agents work with investors, and most agents are pretty much clueless. Take the time to make the calls, and you will get results. Keep away from terms like "no money down" "assignments" and "wholesaling". They hear that a lot, and it sounds a little cliche. Just ask them if they work with investors, ask how many they work with, and then ask what they are having success with in their area and what is making their investors money. You'll probably learn some interesting strategies and develop your own career that way, instead of dictating the direction an experienced agent should take you.
I will do you well when you talk to Realtors that you make sure you control the conversation.
How do you do this? You control the questions. He who controls the questions controls the conversation.
Often a Realtor may ask you a question. You should reply then promptly give another question to them.
For example: they may ask how many people are in your group. You could answer 1 or several then without hesitation you could return a question and ask "what areas do you prefer?"
The problem that commonly happens when communicating with Realtors is that they ask you a question. Maybe, it sets you back a little. Then, there is a pause. This pause gives the Realtor time to squeeze another question, then another, then another and so on.
Keep control, call them and you will have good contacts with Realtors.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125