currently i have my real estate license but that is only becuase i want access to the mls, since i am a realtor already how can i use other agents to bring me deals. i am a buyer but i just feel weird going to another agent telling them i could be their buyer on good deals. also if im looking for lease option deals how should i talk to them about this?
If you plan on making money investing in real estate forget getting “deals” from realtors. Realtors are salemen. Try going down to your local car dealer and getting a “deal” from them. Same thing.
Deals…come from hard work and marketing. I always say this to new guy’s. If a realtor has it, it’s too late.
Case in point…Tomorrow I’m closing on a 4 bed 2 bath home that I got through my advertising. I’m buying the home for $110,000 the house 3 down from this one just sold for $230K. The people I bought it from let it go right up until they had 13 days before the bank foreclosed.
I was able to pay cash for the home and close BEFORE the 13 days were up. Now if these people had called a realtor 3 months ago that realtor would have told them they could get $200K for the home.
Where would you make money then? These people told ME what they wanted for the house. I would have offered more, but you learn to NEVER offer first.
Like I said your job as an investor is to weed out these properties BEFORE someone who knows what they’re worth gets to them.
I agree!!!
If you read Trump’s Art of the Deal you’ll notice that on several occasions he talks about dealing direct.
Lately l’ve been interviewing real estate agents in my area and don’t have much confidence in their ability to bring me a good deal.
I’m looking for steep discounts from someone who’s got their head in the sand.
At the realtor stage, the spread has been added more times than not.
-Mike
While I generally agree that the vast majority of properties on the MLS are not deals, I have purchase many great deals (mostly REOs) through my realtor. She has also basically birddogged a couple of other deals to me (that weren’t listed on the MLS).
All I’m trying to say, is don’t exclude any means of finding great deals.
Mike
market yourself to the banks and get to know the key foreclosure realtor’s in your area. Many realtors like to take some of the best deals for themselves…
fdjake:
Can you show us an example of the ads your run?
Thanks!
As an agent and a investor I can speak from experience that realtors can be a huge asset to your real estate business.
About 2 weeks ago I bought a house that another realtor called me with. The home went into foreclosure for $92,000 and I personally sold the home 2 houses down for $125k. I paid $12,500. and the home did not need a whole lot of repair.
As a realtor myself one of the last deals I pointed out to a client he ended up paying $38k for the home and putting $2,000 in repairs, I listed and sold it in under a month for $69,000.
I could go on and on about the money that I have made from other realtors and money that I have made other people as a realtor.
I would not recommend dismissing ANYONE as having potential for making you some money.
If you really think about it, most realtors only get paid if they sell you a home, but as an EDUCATED investor it is up to you to make the final decision. I would far rather turn down 20 bad deals and get one good one. Than turn down 0 deals and get none.