Lost 2 deals due to lack of responsive realtors

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Lost 2 deals due to lack of responsive realtors

Gloria C.Pro Member
So Cal · Member since 2018 · 107 posts · 20 votes

What do I need to do to get realtors to respond in hot markets? Is it unreasonable to expect a response within 1/2 hr? Maybe I need to call the sellers agent myself? Responses are appreciated....that you!

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Steve Morris
Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
6y

"Do u think expecting a response within 30 minimum is unreasonable? "

What's your track record?  Can you show them a list of done deals and that you're worth spending time on?

If I don't know you or your history or if you have the wherewithal to close, you're not top of my call-back list.  I get calls from buyers wanting stuff, I spend time finding them things and then they vanish.

Also as a buyer you can usually (do NOT sign a Buyer Agency) pick any agent you want.

Having said all that, sometimes 30 minutes is a quick turnaround especially if you're asking for info they have to get together and make sure its accurate.

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  • Nick Dunbar
    Member since 2018 · 18 posts · 3 votes
    6y

    @Gloria C.

    If your agent isn’t meeting your expectations you should tell them. If they say you are being unreasonable start interviewing agents.

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Thank you Nick. I’ll be more direct with my expectations.  Do u think expecting a response within 30 minimum is unreasonable? Thanks. 

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  • Nick Dunbar
    Member since 2018 · 18 posts · 3 votes
    6y

    @Gloria C.

    If it is during normal hours of operation absolutely not. Occasionally it might happen if they are showing a property but otherwise answer the phone is the leading key to success as an agent!

    I get annoyed when my agent starts doing what I ask but doesn't let me know they did. Like requesting a CMA or setting up a showing. I'll message back 30 minutes later and frequently get this is in process back. That bothers the heck out of me. Just say okay on it and I won't pester you!!!

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    I can totally relate. Yes mostly within Normal house but sometimes in evenings before 9 my time. It doesn’t help that Huntsville is 2hrs ahead... yes I need to be more direct and express my expectations.  Thanks Nick

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  • Steve Morris
    Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
    6y

    "Do u think expecting a response within 30 minimum is unreasonable? "

    What's your track record?  Can you show them a list of done deals and that you're worth spending time on?

    If I don't know you or your history or if you have the wherewithal to close, you're not top of my call-back list.  I get calls from buyers wanting stuff, I spend time finding them things and then they vanish.

    Also as a buyer you can usually (do NOT sign a Buyer Agency) pick any agent you want.

    Having said all that, sometimes 30 minutes is a quick turnaround especially if you're asking for info they have to get together and make sure its accurate.

    3Reply
  • Rachel H.
    San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
    6y

    @Gloria C. You may need to find a new agent to work with. Many successful investors I know tend to work directly with listing agents and/or brokers to get deals. They try to establish relationships with these people in their area. In many cases, there will only be a few listing agents and/or brokers who tend to list the majority of the properties (depending on their niche) in the area. The key is to try to find them and build long-lasting win/win types of relationships. Hope that helps! 

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Thanks Steve. Well we’ve discussed that I’ve properties in state already so just looking for different area. I think I’ll see if they can do an offer “template” that just needs minimal info filled in for offers. 

    Rachel how would I find out who this top agent/broker is in an out of state situation? When I do I would definitely build a relationship with that person -that’s a good idea.  

    Thanks all for the feedback-thought provoking.  

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  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    6y

    An “offer template” has no more value than a verbal offer, you’ll just take longer creating a real offer after any response.  

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Hi Wayne. Ok thanks for letting me know that. Do u have any suggestions how to motivate agents?  I’m not one so I’m just asking. 

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  • Michael S.
    Huntsville, AL · Member since 2018 · 578 posts · 864 votes
    6y

    @Gloria C. - if you are referring to Huntsville, AL, the market has reached utter chaos here.  Investment properties that actually have numbers that work are getting 10-30 offers within 24 to 48 hours presently - as such, many of the agents here may be less interested in representing OOS investors and more interested in owner occupied buyers who are looking for 300k+ houses, which have many less offers and high odds of scoring their commission.  Making an offer on a viable investment property here has now become like buying a lottery ticket.  

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Good to know. Thank u Michael.  

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  • Bastian Kneuse
    Rental Property Investor · San Francisco, CA · Member since 2017 · 132 posts · 56 votes
    6y

    I find that it is still possible to score decent properties - even being OOS. I agree, there won't be any killer deals but there are still properties that can easily cash flow positive, particularly in this extremely low interest rate environment. Finding fix and flip or BRRRR deals is very challenging. The whole sale prices are nearing market rates.

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Thank you Bastion. I still keep looking.  

    0Reply
  • Alex Olson
    Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes
    6y
    Originally posted by @Steve Morris:

    "Do u think expecting a response within 30 minimum is unreasonable? "

    What's your track record?  Can you show them a list of done deals and that you're worth spending time on?

    If I don't know you or your history or if you have the wherewithal to close, you're not top of my call-back list.  I get calls from buyers wanting stuff, I spend time finding them things and then they vanish.

    Also as a buyer you can usually (do NOT sign a Buyer Agency) pick any agent you want.

    Having said all that, sometimes 30 minutes is a quick turnaround especially if you're asking for info they have to get together and make sure its accurate.

    call, text, call again. Then find a new agent. I am always available for clients that are serious about investing. Some agents are not. Some agents only work with sellers so find one that likes working with both. 

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  • George W.
    Investor · NJ · Member since 2018 · 869 posts · 921 votes
    6y

    I think this day and age with the internet people tend to expect instant gratification on everything. I think a answer within a hour is great but not necessary at all. If you lost a deal because they took 2 days to respond that's another story. 

    If you have a proven track record or business relationship with someone then a quicker response may be expected to within reason.

    0Reply
  • Deborah McDonough
    Real Estate Agent · Huntsville, AL · Member since 2020 · 23 posts · 23 votes
    6y

    @Gloria C. I am an investor and agent in Huntsville. I work exclusively with investors and am much accustomed to the quick turnarounds. I also try to be direct with my clients about expectations in this market. I'd be happy to work with you, if you're interested. We can give it a go and you can let me know if you're not happy with my work.

    0Reply
  • Ryan Landis
    Residential Real Estate Broker · San Mateo, CA · Member since 2013 · 585 posts · 264 votes
    6y

    @Gloria C. every agent has their own communication style, just like every client does. For example, if you called me and said Ryan I have an offer I want to put together that is cash $200K+ over what the property is worth and I can close in 3 days you surely are going to get a different response then Ryan I am not pre-approved, I have not signed the buyer broker agreement that we walked through together, etc. (again I don't know the full situation but as written there likely is something bigger than them just not responding within 30 minutes). What I am trying to say is the good ones will do their best to be responsive, but there are other things often going on (hopefully they have other clients, maybe some rentals, etc.). So confirmation of receipt, if it is not a fire drill, might be enough. But unless they are doing things that are causing you to consistently miss out on opportunities, probably worth a check-in. They also may be too afraid to tell you that they don't actually want to work with you - not saying that is the case, but they may not have the heart to fire clients they don't want to work with.

    Just trying to put things in perspective. If you emailed your attorney, they probably wouldn't get back to you that quick. If you called your doctor, the likelihood, of you getting seen within 30 minutes is rare. Not all agents are equal, but defending them just a tad bit ;)

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Ryan thank you for the reply. 

    1Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y

    Yes expecting a response within 30 minutes is not a reasonable expectation well for anything in life really.  If someone told me theyd expect responses within 30 minutes Id laugh at them and tell them to take a hike honestly. 

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Thanks Russell. Good to know.  I don’t mind the slap down-appreciate your honesty.   I’ll make adjustments-it’s just so frustrating to lose out on deals in hot markets. It’s a good learning experience, but still hard to swallow. I’ll keep tweaking my offers - I’ve always had a hard time with “no”. Lol! 

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  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    6y

    If I am working with a client, doing a showing, then driving to another, meeting at the office for a discussion for the houses we went into. It takes time and I never interrupt who I am in front of (including my children and sometimes my wife) to take a call or text.  Yeah it may take hours. My "return call/text/email list usually has 8-10 things in it". If an expectation is a 30 minute response, then I am not the agent for them. If a house sells in 30 minutes, then unless you want to overpay by a lot, it does't matter. My solid buyers (cash now) don't expect that return time, because they are working as well. 

    If someone did $2 Million with me last year and I was attending my daughters softball game, they would wait. Of course everyone who does big numbers with me knows it's business and when they are at a recital, I'm on a back burner. The expectation of "NOW" fails.... often. 

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  • Gloria C.Pro Member
    OP
    So Cal · Member since 2018 · 107 posts · 20 votes
    6y

    Mike-got it! Thanks

    1Reply
  • Lee RipmaPro Member
    Rental Property Investor · Prairie Village, KS · Member since 2015 · 2k+ posts · 2k+ votes
    6y

    @Gloria C.

    I am an agent and an investor. I used to be a consultant. My good clients I would take their calls at 9 pm, respond to their emails at midnight. My clients who were not that great waited days. If I have a client who has never closed a deal with me wanting me to drop everything to put in a low ball offer, I really don't care. Good clients respect your time and the value you provide. If you're busy or out of town they respect that. Deals come and go, but solid long term relationships can be very profitable for both parties. 

    RE is really hot and so agents are focused on clients who will close and those who will win with their offers. They are working with clients they have already closed lots of deals with. They are submitting offers for those who have respect for them. I would tell you to find a new agent if you wanted a response within 30 minutes, it's just not possible for a good, busy agent. If you want someone to respond in 30 minutes then find a new agent or bad agent with nothing going on!  

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