So I’ve heard somewhere and I can’t remember that you could send out 100 offers from the MLS and you should get 1 good deal out of it. Has anyone ever tried this strategy and what Realtor would have the patience to submit 100 low ball offers. Looking for some sdvice from you pros.
Thanx
Over the course of how many days? I don’t know any Realtor that would just sit there all day and send out 100 offers, knowing that MAYBE one will get accepted. I’m not saying there aren’t any, but I certainly don’t know any. Now, if you’re talking about over the course of a few weeks, perhaps.
I believed that crap when I started too and with fierce determination (read: stupidity) I persisted on to 500 offers through realtors (nearly every one was with a different realtor). Out of all those I can count on one hand how many were ever presented, nevermind accepted. Most realtors will just throw your offer in the garbage and pretend it never existed. Or they might call the seller up and say: “Some loser sent a crap offer, I’ll just go ahead and toss it so you don’t have to waste your time.”
If you want to go this route you have to take steps to ensure your offer is at least presented, albeit most will be presented with the words above and so very few sellers will accept anyway.
Some say you should insist that the seller sign the offer back with a rejection. I say that most realtors will just forge the seller’s signature.
Others say you should be there in person when the offer is presented. That’s probably the only way to be sure. Unfortunately the minute you walk out the door the realtor will start bashing the offer so you either have to insist that the seller accept or reject it on the spot while you’re sitting there, or you might as well just forget about making offers through realtors.
If you want to use a buyer’s agent, good luck. I’ve never met a realtor who will put in 100 offers to get 1 signed. They all give up after 2 or 3 so you better have a long list of buyer’s agents!
It’s true that you can expect to get 1 offer accepted per 100 (depending on the type of deal you’re looking for you could do a lot better than that). But those are offers YOU present directly to the seller, not offers through realtors.
Sadly enough, there are many who promot this way of finding properties. If you want to do that, get your own license and fax the offers. Will it work? yes… but is it worth it?
Hello Bird house’
In the early years I worked with a Realtor and convinced him to allow me to write, send ,recieve,email, fax and follow up on my own offers. Yes he will deny it to this day. But I learned alot , didnt wast his time, and gave him a copy of every offer I made. For the files. He spent a lot of time training me so I would do it right. I bought as many as 12 in one year this way.
The one thing I learned is that the best deals are not found on the MLS. Now , guys like me and others here get them first Before they go into foreclosure or become bank owned or before they find out the market skyrocketed . or or or…
Yes there are deals staring some investors in the face and they don’t see them. I used to buy off the MLS and relist w/my Realtor only to have another Realtor buy it because it was a good deal. Go figure !
By becoming your Realtors assistant you will learn tons about the industry and If you are sharp you will know more than 80% of the Realtors in a couple weeks !And do’t fall for the “you will offend the seller” crap either. If you are not embarressed about the offer you are about to make , don’t make it until the offer is low enough that you are.
In the Dog House, Darin
Ha. Good luck finding an agent worth their salt who will blindly submit offers on your behalf. Why not just get your license and hurt your own reputation?
Hey guys thanks for all the input. Looks like it’s not worth the time or effort at least not for me. I 'preciate ya all!