Sellers keep asking for what their houses are comped at

[Brian Stone]

Two calls so far from owners that want what their house is worth. I keep hearing that I should wholesale lease option with them. I don't know any buyers that would do a lease option.

If a seller asks for 95k, and the houses in the area are going for 95k, what do I do?? What can I do for them, and what can I do to make some money off the transaction?

Thanks

[Brian Wall]

Hi Brian,

Congrats, you have got the phone to ring, which is not the easiest thing to do.

I am assuming you are not a realtor.

If you were, you could attempt to get a listing.

What you could do, is partner with a local agent that would be willing to do the listing. You have to be careful what you ask for, in terms of "referral fee" because of the rules regarding non-agents getting a commission or referral fee.

So, think outside of the box, what is it that the agent wants, that you also want. What I would probably do, is find a local realtor, offer to hand him over those leads. I would ask him/her to pay for your next mailing, if/when they get the listing.

Then, I would also ask the realtor if they come across any property that seems to meet your criteria that you get first crack at making an offer on it (with them representing both sides, of course).

This is a win/win. You get "free" marketing, the agent gets a tax write off, and a lead handed to them on a silver platter.

You have little to risk, since you are not doing anything with the lead anyway.

Let me know what you think!

Brian