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Posted about 15 years ago

Realtors?? Worthwhile??

Well, I know it's my first blog post in awhile, but needed to vent a little after a, well, not really a confrontation, a denial, leaving me a bit frustrated and confused  We've currently got a wholesale deal in the metropolis of El Reno, OK.  El Reno, while not a large city is a suburb of Oklahoma City about 20 miles West or so of downtown Oklahoma.  Picked up a little house there we're trying to let go for $10k, obvoiusly not a $50k wholesale deal, but a little money for us, a good deal for a buyer, and we liquidate a property for a large buyer looking to unload a home in Oklahoma they ended up with after picking up a package deal.  Well, after poking around on the local MLS a bit I had located the buying Realtors of several of the investment property buyers in the area.  After reaching the local Chevrolet dealership as a result of an incorrect number located on one of their websites (a nice dealership where, incidently, I have purchased a vehicle in the past), I had gotten through to most of the Realtors that I was looking to contact.  There was one, however, I had missed, so, in the spirit of thoroughness (is that a word?!?) I started punching buttons on the iPhone in hopes of letting another Realtor know about our deal in the thriving city of El Reno.  I was greeted by a scruffy voice who sounded as a broker who may have starred in Glengarry Glen Ross, however, cheerful wholesaler Matt continued my upbeat attitude to pitch the deal.  However, I was quickly cut short by questioning from his end, "Address?,......Oh well, I've only got one buyer who buys over there (It only takes one!!???).....Well, what are you looking to pay for a commission."  (Wholesalers Note:  So, whenever I've gotten this as one of the first questions about a property, things usually go south from here...).  Well Sir, I know that 3% of 10k is not too much, but I'd probably be willing to do $500 or so for the connection.... pause...... Oh, sorry, that's nothing I'd be interested in, I've got REO companies that will pay me $3k all day.........Well, since I don't have a ton of room in this (seeing as it a freakin' 10k house) I don't think I can get there, what would make it worth your while?.........Well, I wouldn't be interested for less than $2500.......this is when the phone call ended...well, I could see it coming to an end rather quickly at his second question, however, this is when the conversation took a literal end...haha....

 So, I guess at this point, you might be wondering where I'm going with this?  Well, where I'm going is here, even when you're trying to be nice, let someone do a little work in a down market for a quick, easy deal, some would still rather be less than cordial.  See, if you're a wholesaler and worth your salt, you'd probably know that even though you can't see an individual who purchased a property on the MLS, you can reference county records and relatively easily find contact info from there, if you didn't know this, you do now (Tip).  And second, a Realtor lost a quick buck today..


Comments (3)

  1. Greed costs a lot of people quick and easy money all the time. Thanks for sharing.


  2. Matt - that was hysterical. I totally know what you mean!


  3. Thanks for sharing your insight. Searching the county records can be helpful for many situations.