Working for investors. What do they want to see?

Any other agents out there who have done a lot of work with investors of this type and could educate me on how to be more valuable to them? At this time I am giving them rough ARVs, estimates on repairs, opening doors, scheduling appointments, and negotiating deals on their behalf.

What do other seasoned agents do out there to better benefit their investor clients?

Thank you

Mike Nelson

Wholesaler · Richmond, Virginia

235 posts
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Nov 01 '11, 09:37 AM

Sounds to me like your an underpaid wholesaler lol....how about you try to negotiate deals with the homeowners yourself then assign the properties to your investors for %65 or under ARV?

Rich Hupper

Residential Real Estate Agent · Wilmington, Massachusetts

52 posts
2 awards
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Nov 01 '11, 09:45 AM

Hi mike. The properties I come across are all exclusively listed with other agents and I cannot reach out to those owners. I would be violating massachusett's law. I am not sure how it works where you are from. I would love to be able to do that if I could.

I have no interest in wholesaling at all. I am more interested in working for the commissions on the buying and selling sides of the deal. In Massachusetts If I bring a buyer to a property I get a commission and if that buyer gives me the listing after they rehab the property I get a commission when it sells.

my goal is to be working with a large group of active rehabbers where they are continuously buying and then giving me the listings after they flip the property.

Mike Nelson

Wholesaler · Richmond, Virginia

235 posts
4 awards
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Nov 01 '11, 09:50 AM

Ok, gotcha! I know one agent that I've used here in VA has educated me on HUD homes, that would be a great benefit to your investors in your area. There's not a lot of people that are familiar with the whole HUD bidding process.

Rich Hupper

Residential Real Estate Agent · Wilmington, Massachusetts

52 posts
2 awards
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Nov 01 '11, 09:53 AM

Is a HUD home the same as a REO home? I have heard about hud properties however I don't believe I have seen any before.

Mike Nelson

Wholesaler · Richmond, Virginia

235 posts
4 awards
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Nov 01 '11, 10:23 AM

Yes, HUDs are foreclosures but the are foreclosures on FHA loans not bank originated loans. They go through a different selling process from bank owned foreclosures.

Brad P.

Real Estate Investor · West Des Moines, Iowa

53 posts
50 influence

Nov 01 '11, 10:53 AM

Rich, as a relatively new investor focusing on rehabs right now, the biggest things we rely on our realtor for are:

-Getting us into see places
-Comps, comps, comps
-Opinions on ARV
-Negotiating the deal

And the most important: Doing all of the above in a timely manner.

We don't ask for estimated rehab costs...that's something we estimate.

As we get more experience, our plan is for one of our partners to become licensed so we can do this ourselves. But for now, we use realtor for both buying and selling.

My 2 cents anyway.

Rich Hupper

Residential Real Estate Agent · Wilmington, Massachusetts

52 posts
2 awards
50 influence

Nov 01 '11, 11:44 AM

Mike thank you for explaining that. I did not know that.

Thanks for reply Brad. Looks like I am doing a decent job with what I am doing.

Brian P

Real Estate Investor · Salt Lake C[ty, Utah

283 posts
1 award
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Nov 09 '11, 02:02 PM

Rich

Do not say it is against Mass.law, It is the NAR code of ethics you contracted to follow when you became a member. In my state and yours I could go out and list every single property that is already listed, it is just the seller would still have to pay a commission on the first listing, and I would be facing the ethics committee and likely be kicked out of the board, or a severe don't do that anymore.