Asking Realtors for their expired listing info? Am I crazy?

Asking Realtors for their expired listing info? Am I crazy?

Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes

I have found 6 or 7 multi family properties that I can't seem to nail down contact info for. I'm typically EXTREMELY good at digging it up. 

I'm using Realist to track down the owner's name/address. Most of them are held in an entity of some sort. I'm then going to the state website (where the entity is registered) and digging up the names of individuals. Then using a service to get a # for the name. Problem I'm running into is things like the mailing address being a tax office, or attorney, and even a liquor store. I've called and they don't/won't pass along a message. I could just mail the tax address but I'd rather leave at least a voice mail. I've used Linkedin and other sites to attempt to contact individuals with no luck. 

Do you think an agent would accept something like $500 cash if I'm able to turn it into a deal? I'm looking for properties to hold, value add/rehab, and potentially sell off market. (If I were to sell it off market I imagine that the agent would want a larger cut) Any tips?

Also these ARE NOT fresh expired info. These are anywhere from 6 months to 5 years old.

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Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
11y

Personally if another agent were to call me for info on my expired listings I don't think I'd want to deal with it. Too busy with other stuff. I have never had someone ask for that & I am not even sure of the legality of giving out that info as I never thought about it till now.

If the fee was up front that would make more people apt to want to do it but a fee that may or may not come does not seem worth the time it would take to lookup the info.

Also would not want a competing broker coming in and taking over my market share. We can play nice in the sandbox but I don't want to go out of my way to help out my competition. I was able to track down the owner would not want the competition getting any easy shortcuts from me.

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  • Russell BrazilBusiness Member
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    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    11y

    @Ryan Dossey I am a bit confused.  Your job title says that you are a broker, so you should know the answer to this question already.  An agent is not going to typically accept a fee for this. They will likely be open to brokering the deal as an agent with a commission if you approach them though.

  • Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    11y

    Same here Ryan...confused by your title. In your state can you pay an agent ANY fee or must you pay their broker first? Considering this is a RE website, most of us would assume you mean RE broker and in most states any fee must be paid to a broker and then to their agent.

    UPDATED: After I posted this, I looked at Ryan's profile. It states he "is getting his license".

  • Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
    11y

    What is up with this site and technicalities the last few days? I am a licensed Broker. Obviously the fee would go to his managing broker to be paid to him... that wasn't my question. 

    I didn't ask who I pay. Thanks though! 

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    Personally if another agent were to call me for info on my expired listings I don't think I'd want to deal with it. Too busy with other stuff. I have never had someone ask for that & I am not even sure of the legality of giving out that info as I never thought about it till now.

    If the fee was up front that would make more people apt to want to do it but a fee that may or may not come does not seem worth the time it would take to lookup the info.

    Also would not want a competing broker coming in and taking over my market share. We can play nice in the sandbox but I don't want to go out of my way to help out my competition. I was able to track down the owner would not want the competition getting any easy shortcuts from me.

  • Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
    11y
    Originally posted by @James Wise:

    Personally if another agent were to call me for info on my expired listings I don't think I'd want to deal with it. Too busy with other stuff. I have never had someone ask for that & I am not even sure of the legality of giving out that info as I never thought about it till now.

    If the fee was up front that would make more people apt to want to do it but a fee that may or may not come does not seem worth the time it would take to lookup the info.

    Also would not want a competing broker coming in and taking over my market share. We can play nice in the sandbox but I don't want to go out of my way to help out my competition. I was able to track down the owner would not want the competition getting any easy shortcuts from me.

     Thanks for actual constructive advice. That's what I figured. I'm better off just mailing a letter and waiting. 

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