THIS is why your Realtor is Ignoring you-DATA says they Should!

93 Replies

Interesting timing for this post as I am currently trying to buy my first OOS property, but am having a difficult time getting realtors to respond with the property info I need. Any thoughts on how I can approach them to make this work?

Originally posted by @James Wise :
Originally posted by @Scott Mac:

James talks until he is blue in face--hopefully people will take his advice.

 I work pretty much solely with investors and truly the biggest thing that helps me is if someone actually helps by showing excitement and doing proactive research into purchasing in my market area. I don't have the time to be a personal research assistant. We only get paid when the deal closes. If someone turns into a data pumper, that's a huge turnoff and I generally don't continue working with them. That being said, I do everything for my clients and give them my all when they show their loyalty and respect in return. 

Also, Let's not even bring up deals that fall through. 

@James Wise

I am not an agent... But here in Montana agents are so happy to have an out of state person call because the are selling their California houses in droves and moving here. They are buying up all our 350-700k homes. (Usually that price point was harder to sell)

So here, my understanding is that agents love these out of state sight unseen buyers. No showings and full price offers.

Sitting in church this morning and we have 5 families who have moved here from California this summer. For a town of 3000 that's a big deal. And those are just the ones in church... This is a crazy time for Montana.

easy way for an agent to know you are a serious buyer 

Google their name Billy Smith cel #.   This gets around the Zillow filtered phone number 

Text them a picture of drivers license and a screen shot showing proof of funds   As well as a screen shot from the county websites for the 4

Counties I own property in, showing the list of properties I own 

I also text  Hi this Is Mike Plante   I saw a property you listed which I am interested in.

Are you able to write the offer if I decide to make one?

So far has always worked like a charm 

I filter out a TON of people and am very picky with who I actually work with. Most buyer leads go to my other realtors now that I'm a broker. Sad to say I get 1 good lead for every 10 people who contact me on BP. The site is littered with tire kickers.

@James Wise

Good read, Well done. I’m in Boston so we do a little better than $5.75, but your point is well made and valid. I think what new RE agents must realize is the amount of knowledge you can gain from a good investor. You can’t put a dollar value on that.

Where do I find your show?

Originally posted by @Russell Brazil :
Originally posted by @James Wise:
Originally posted by @Scott Mac:

James talks until he is blue in face--hopefully people will take his advice.

james wise jay hinrichs russel brazil meme
Originally posted by @Jarrod Askin :

@James Wise

Good read, Well done. I’m in Boston so we do a little better than $5.75, but your point is well made and valid. I think what new RE agents must realize is the amount of knowledge you can gain from a good investor. You can’t put a dollar value on that.

Where do I find your show?

 I'm not going to be able to run afoul of BP's advertising in the forums rules (as much as I'd love to) so you'll just have to hit google. It ain't that hard to find.

@James Wise can you shorten your posts? My ADD kicks in after the second paragraph (oftentimes after the first), I don’t finish reading your posts, I’m sure they are very valuable.

😉😉❤️❤️

A realtor should not ignore the client, until and unless the client shows absolutely no interests and/or does not engage, does not participate in the conversation

Originally posted by @Michael Plante :

easy way for an agent to know you are a serious buyer 

Google their name Billy Smith cel #.   This gets around the Zillow filtered phone number 

Text them a picture of drivers license and a screen shot showing proof of funds   As well as a screen shot from the county websites for the 4

Counties I own property in, showing the list of properties I own 

I also text  Hi this Is Mike Plante   I saw a property you listed which I am interested in.

Are you able to write the offer if I decide to make one?

So far has always worked like a charm

Clever..  !!!

Originally posted by @Joshua D. :

@James Wise

I am not an agent... But here in Montana agents are so happy to have an out of state person call because the are selling their California houses in droves and moving here. They are buying up all our 350-700k homes. (Usually that price point was harder to sell)

So here, my understanding is that agents love these out of state sight unseen buyers. No showings and full price offers.

Sitting in church this morning and we have 5 families who have moved here from California this summer. For a town of 3000 that's a big deal. And those are just the ones in church... This is a crazy time for Montana.

I was just up in Bozeman area fishing out at a nice lodge and private water,  when I got back to BoZ airport I had time so picked up a RE mag prices are higher there than many west coast cities etc.. looked like 700k or so was the median price point. and buy a ranch or land and then jump to 2 to 20 mil.. and more.. I can remember land in Mtn back in the late 70s and 80s was very cheap. so those who bought land there have really made some Monster profits on appreciation..  Oops not suppose to talk about appreciation LOL

Certain markets (like mine, and like Montana that has been mentioned) have a VERY high percentage of deals being done with both out of state buyers and sellers, and we're obliged to work with them. However the median price point is also much higher, which adds a few zeros to your hourly wage calculation, so it's all good. 

@James Wise

I guess you are able to executed this service and payment system because you are your own broker.

How do you advise Investor-Agents that are not yet a broker like yourself to navigate the Broker rules that says all money must come to the Broker and the broker will pay the Agent.

Thank you

Originally posted by @Wale Lawal :

@James Wise

I guess you are able to executed this service and payment system because you are your own broker.

How do you advise Investor-Agents that are not yet a broker like yourself to navigate the Broker rules that says all money must come to the Broker and the broker will pay the Agent.

Thank you

 That's a good question. I think the only way to answer it would be to say that it's got to be a question for you and your broker to discuss. Maybe they are interested in it, maybe they aren't. Maybe it makes an agent interested in opening up their own shop when they otherwise wouldn't. Maybe it doesn't. Lots of variables to unpack in that question.

@James Wise have recommended agents charge upfront for their time for a couple of decades!

Started after I read an agent interview in the local newspaper, where the agent actually bragged about their commitment to their client in showing them over 100 houses before they found the right one.

I actually copied the article and included it in my presentations at real estate offices with a estimated breakdown of how much that agent actually made per hour - very similar to your math:)

We're also cautious in working with OOS investors. We'll have a 30 minute discussion with them to "sell" ourselves and then tell them about our program where we charge $x upfront for our time, that we'll credit towards any property they buy through us or hire us to manage within the next 90 days. We'll do a limited desktop review for free, but charge a fee for visiting a property and taking a walk-thru Marketing Evaluation (we do NOT call them inspections for legal purposes).

It never ceases to amaze me that so many newbie investors wnat to write an offer on a property they found on Zillow, but have done VERY limited market analysis. There's so much info online now.

I'll add one other tidbit to think about: If an investor claims they want to buy a $50-$150k rental, how serious are they if they can't afford, or see the value of paying a nominal upfront fee?

Originally posted by @Peter T. :

I filter out a TON of people and am very picky with who I actually work with. Most buyer leads go to my other realtors now that I'm a broker. Sad to say I get 1 good lead for every 10 people who contact me on BP. The site is littered with tire kickers.

So you give the potential tire kickers to your rookies as a favor? 😂

Originally posted by @Joe S. :
Originally posted by @Peter T.:

I filter out a TON of people and am very picky with who I actually work with. Most buyer leads go to my other realtors now that I'm a broker. Sad to say I get 1 good lead for every 10 people who contact me on BP. The site is littered with tire kickers.

So you give the potential tire kickers to your rookies as a favor? 😂

 Lol...Can't learn how to spot a tire kicker if you've never worked with one before. He's just speeding up the training process.

Originally posted by @Drew Sygit :

@James Wise have recommended agents charge upfront for their time for a couple of decades!

Started after I read an agent interview in the local newspaper, where the agent actually bragged about their commitment to their client in showing them over 100 houses before they found the right one.

I actually copied the article and included it in my presentations at real estate offices with a estimated breakdown of how much that agent actually made per hour - very similar to your math:)

We're also cautious in working with OOS investors. We'll have a 30 minute discussion with them to "sell" ourselves and then tell them about our program where we charge $x upfront for our time, that we'll credit towards any property they buy through us or hire us to manage within the next 90 days. We'll do a limited desktop review for free, but charge a fee for visiting a property and taking a walk-thru Marketing Evaluation (we do NOT call them inspections for legal purposes).

It never ceases to amaze me that so many newbie investors wnat to write an offer on a property they found on Zillow, but have done VERY limited market analysis. There's so much info online now.

I'll add one other tidbit to think about: If an investor claims they want to buy a $50-$150k rental, how serious are they if they can't afford, or see the value of paying a nominal upfront fee?

 Lol...100 hundred houses.....Bless her heart.

Originally posted by @James Wise :
Originally posted by @Russell Brazil:

 ...Especially those whom I don't think have the ability to close. I spend a lot of time bluntly telling them why I think they are a flake. From there they learn and adjust or in some cases give up but at least we're equipped with a reality check at that point...

I had to laugh when I read this.  I think there is an outside chance I would actually pay money to see this conversation!

I think there are a lot of business owners, not just realtors, who would do well to understand what you are really saying here.  You save yourself a lot of headache and wasted time this way.