How to talk to realtor

Question

I am based in NJ and new to wholesaling. I want to talk to a few local real estate agents to help me out with MLS. But I do not know what exactly a the agent will get for helping me. I have never done this before. What do I say? What are some of the benefits of the agent in helping a new investor like me?

Abdul R. · Answer

Great idea Justin, I will do that. Thanks!

Justin McClelland · Answer

If you post a Craigslist ad that you need an investor-friendly agent and get very specific with your requirements upfront, you will have a flood of prospects to choose from.

Tim Czarkowski · Answer

Abdul Rasheed

Just tell them what you do and that you will send them any sellers who want to sell retail. They will be more than happy to provide you comps as long as you send them a solid lead every ow and then.

Abdul R. · Answer

Thanks Manuel and Bryan.

Manuel A. · Answer

My Realtor pulls comps for free. Anything else, I would find a new one. Same should go for you.

Brian K. · Answer

No, comps are just between your realtor and you.  Talk with some local investors and see how they pull comps, you want to keep the realtor interested in working with you.

Abdul R. · Answer

Thanks Manuel Acuna, Danny Day and Bryan K for the practical tips.

Bryan K, how do I pay them for giving me comps? Their name show up in the HUD? Any legal implications I wonder.

Brian K. · Answer

Give them leads that don't work for you, pay them for comps that you close on.  Maybe, they can help you sell something by adding their fee on top with their buyers.  Look for someone new that might be a little more hungry, you will be repeat business for them.

Danny Day · Answer

Buy them lunch and try to push some kind of business their way once or twice a month

Manuel A. · Answer

The way I got my Realtor was by email many different Realtor's telling them I was looking for someone who was investor-friendly.

After that, got a few responses, picked the Realtor I liked, and then we went to a cafe and talked about my plans/goals and his career thus far. It was enjoyable. We then agreed to work together!

Maybe this will be a point in the right direction?