BiggerPockets

:cry: I've emailed lots of agents in the San Francisco Bay Area, and found that they do not want to give out their leads, because most of them think I will take away thier commission. I even offered to give up to 6% at closing. What am I doing wrong?

I explain exactly what I am going to be doing. How do I get them to trust me? :oops:

Basically, I say that I have a team of Loss Mitiagtors that will do the short for me. I will bring all cash to the table. I will give the listing agent who give me the lead a 4-6% commission at closing. I also tell them that I do not intent to keep the house. I make a profit from the discount, and when that price is met, this is when they get a chance to earn their commission. I want over-leveaged high end homes, that has a potential of doing a short.

I take the lowest comps, take the average of those multipled by the sqft, take an average of the price per sqft adn come up with a value for the home. I then subtract the repairs. So, in other words, 65% of the arrears minus repairs. However, it all depends on the porperty. And, for that matter, my team of loss mitigators do all that work for me.

It is clearly stated to the agent that I am bring all cash.

Cash does not change the legality/ethical implications of it. You are scaring them off, they may think it is a set up/scam.

Sorry if I can not explain this in an easy to follow manner. But if it does not follow the law & code of ethics of NAR, MLS rules etc, --not many honest agents will do it. I will not accept any money, (check, cash or cashiers check) or anything of value not on a HUD1 and paid thru my broker except for BPOs. But if you could pay them as consultants, then they might go for it, like BPOs. Consult a local RE atty, become familiar with the way agents can be paid and put it in writing. If agents still balk, sorry.

If it is on Hud1 there shouldn't be a problem. I also do not understand. If you have marketing material send it to me and I will try to suggest any changes. But it may be laziness or fear of the unknown on the agents part. Unless agents are willing to change their way of business, our days are numbered. Just like the X amount of commission they insist on, the business is changing. Either change, or slowly die.

Check my profile, put bigger pockets/gena in subjct line.

hi gena im an agent / mortgage broker / investor here in ma and i work with lots of other investors like yourself if you would like i also can review your maketing techinque and critique it and give you some feedback