Advice for a new Realtor
Hi all,
I recently got my Florida RE license, and I have been working with an investor-based company based out of Fort Lauderdale. I'm finding and sending them distressed property lists on the MLS, and they're telling me that the properties I'm sending them are fantastic. I have one under contract right now for 140k on a 225 asking price, but this is how all of their offers are. We're going through many, many offers before I even hear back from the sellers... This 140k deal will be my very first as a realtor, and I'm doing it remotely from Massachusetts right now so I won't be able to do open houses or any of the normal agent activites until I get back next month.
Finding these properties and writing the offers takes a ton of time. I know this is what I signed up for, but each offer is roughly half of the asking price or lower. They have margins to meet so I understand needing less than asking price, but what can I do to increase my offer to acceptance ratio? I'm hardly even getting counter offers - that is, if the listing agent even bothers to email or call me back.
I just charged them my first retainer fee of 299$. I don't do cancelation fees and I have a hard time getting other buyers to sign the buyer-broker agreement (property specific), even with no fees at all. I'm totally open to working with other investors, but they're hard to come by, so cold calling these companies seemed like the best idea to me. Does anyone have advice? I try to reach out to the listing agents beforehand and seeing if they will take a below asking price offer, but so many don't answer their phones...