How do you convince agent to give you leads?

Question

:cry: I've emailed lots of agents in the San Francisco Bay Area, and found that they do not want to give out their leads, because most of them think I will take away thier commission. I even offered to give up to 6% at closing. What am I doing wrong?

I explain exactly what I am going to be doing. How do I get them to trust me? :oops:

I explain exactly what I am going to be doing.  How do I get them to trust me? :oops:

Joey Gaard · Answer

Gena,

I'm an agent in Indiana that does strictly investment properties for investors, the only problem I see is the way you are describing it to agents.  There have been a lot of issues with scame out there and agents do not want to get caught up in it.  I agree with Mark, hire an agent as a consultant and there shouldn't be an issue at all!

Joey

Ivo Jorge · Answer

hi gena im an agent / mortgage broker / investor here in ma and i work with lots of other investors like yourself if you would like i also can review your maketing techinque and critique it and give you some feedback

Dave P. · Answer

I can not insist the bank on what the HUD-1 commission is going to be.

Why not?

Mark Brian · Answer

Check my profile, put bigger pockets/gena in subjct line.

Mark Brian · Answer

If it is on Hud1 there shouldn't be a problem. I also do not understand. If you have marketing material send it to me and I will try to suggest any changes. But it may be laziness or fear of the unknown on the agents part. Unless agents are willing to change their way of business, our days are numbered. Just like the X amount of commission they insist on, the business is changing. Either change, or slowly die.

Gena Gonzales · Answer

I can not insist the bank on what the HUD-1 commission is going to be.  What I can do is give them a 4-6% commission when I sale.  How bad can that get?  Should I increase the commission to 10-15% when I sell, that seems a bit high.

What is your email address, I would love to show you my marketing techinque of what I say to agents.

Gena Gonzales · Answer

I don't understand.  The agent will get paid by the HUD-1 settlement.  Since I do not intent to keep the property, I will need the agent to close and will earn a 4-6% commission at closing.

I will not pay the agent as a consultant since they are not consultanting anything.  So, what you are telling me is the agent do not want to collect on two transactions back to back?  That sounds crazy.

Mark Brian · Answer

Sorry if I can not explain this in an easy to follow manner. But if it does not follow the law & code of ethics of NAR, MLS rules etc, --not many honest agents will do it. I will not accept any money, (check, cash or cashiers check) or anything of value not on a HUD1 and paid thru my broker except for BPOs. But if you could pay them as consultants, then they might go for it, like BPOs. Consult a local RE atty, become familiar with the way agents can be paid and put it in writing. If agents still balk, sorry.

Gena Gonzales · Answer

How?  I give them a cashiers check for the give amount whether it be 1.5 million or less.  I do not feel I HAVE to proof what is in my checking account.  If they do not believe it is cash, then I do not want to work with them.  What else can I do to have them trust me.

Mark Brian · Answer

Cash does not change the legality/ethical implications of it. You are scaring them off, they may think it is a set up/scam.