Rental Property Investor · Yuma, AZ · Member since 2019 · 637 posts · 46 votes
I have been cold colling and most of the calls are voicemails and realtors. So, I thought of calling realtors instead and tell them to find me motivated sellers/landlords who might be interested in selling their house at a good price and I will pay realtors 4k if I get the deal done. What do you think about this?
A realtor who finds a motivated seller will, depending on the market conditions, will make more than $4,000 if he puts it on MLS and sells it. In addition, we generate additional business from sign calls and open house events, so it's more than just the initial sale.
Further, we are constrained by ethics and in Mass., consumer protection laws as well. If we know the property owner wants to sell and we connect him with a wholesaler, we're not looking out for the best interests of that seller. We're looking for a quick paycheck for ourselves - and that can result in an unpleasant conversation with the real estate commission.
Any money paid to a Realtor has to go through the broker too. If I were to take any sort of side payment, there's another violation.
Any of these charges can result in fines, license suspension and/or license revocation.
A realtor who finds a motivated seller will, depending on the market conditions, will make more than $4,000 if he puts it on MLS and sells it. In addition, we generate additional business from sign calls and open house events, so it's more than just the initial sale.
Further, we are constrained by ethics and in Mass., consumer protection laws as well. If we know the property owner wants to sell and we connect him with a wholesaler, we're not looking out for the best interests of that seller. We're looking for a quick paycheck for ourselves - and that can result in an unpleasant conversation with the real estate commission.
Any money paid to a Realtor has to go through the broker too. If I were to take any sort of side payment, there's another violation.
Any of these charges can result in fines, license suspension and/or license revocation.
I have been cold colling and most of the calls are voicemails and realtors. So, I thought of calling realtors instead and tell them to find me motivated sellers/landlords who might be interested in selling their house at a good price and I will pay realtors 4k if I get the deal done. What do you think about this?
Horrible plan, take it behind your garage and shoot it. Realtors entire job is to find motivated sellers and get their properties on the market. You calling them to tell them to do this is like calling Taco Bell to tell them to make some more tacos.
You seem to be going in 100 different directions in just these last couple of days.
You have enthusiasm but lack education. I suggest learning more about real estate investing in general, defining your primary investment strategy, and then learning how to properly execute it.
Have you listened to the podcasts available here? Read any of the books sold here? I ask because there are countless ways to make money in real estate, but like any business, without a clearly defined goal and a well laid plan on how to reach it, all the effort in the world will end up being wasted energy.