Advice for a new Realtor

Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes

2mo

Honestly there is not much you can do to help sellers accept crazy low balls. End of the day it's a numbers game. Yes you can offer generous terms but price will always be the sellers main priority. I would definitelty focus on adding new clients so you aren't doing that anymore (hard to justify your time).

If you want to work with other investors you need to network, cold call owners (Starting out I focused with 2-10 unit owners) and slowly build your client base. Social media is very powerful. I love using Facebook, Google my business and LinkedIn. Most importantly you need to be consistent and have as many conversations as possible.

0 Reply

Jacob CamhiBusiness Member

Hinton, WV · Member since 2026 · 131 posts · 40 votes

2mo

it's tough trying to get deep discount offers accepted on the mls, because most sellers listing there expect closer to market value. for those 50% below asking deals, you need to find true off-market situations. start by checking public records for fort lauderdale – things like tax delinquent lists, code violations, or recent probate filings. these often indicate sellers with a higher need to sell quickly, making them more open to lower offers. when you approach listing agents on the mls, focus on properties that have been sitting a long time or had multiple price drops. that tells you the seller might be getting more flexible. i'd also suggest networking with local title companies or real estate attorneys in florida; they often hear about motivated sellers before a property even hits the market.

0 Reply

Kevin Marshburn

Real Estate Agent · Miami, FL · Member since 2019 · 25 posts · 19 votes

2mo

Welcome to the game. Congrats on getting that first deal locked down remotely, that's a win.

To answer your question about how to get your acceptance ratio up: you can't, not with the offers you're writing. Most MLS sellers aren't accepting 50 cents on the dollar.

You are playing a brutal numbers game. Plus, raw MLS scraping and offer-writing is easily automated, there are already tools for this. So either use those tools to automate this work on your behalf, or eventually the investors will use them so your role in this process wouldn't be as valuable (you're competing with software).

I'll share two options to consider. First, keep writing these offers, but write them with you as the buyer and make them assignable. In other words, become the wholesaler, not their bird dog. The offer acceptance rate doesn't change but your margin goes way up.

Second, from the agent lens, if you're willing to work and cold call, focus on sourcing sellers (listings), not investor buyers. Listing give you leverage: they are a way for you to meet new buyers, and give you something to market. Good luck!

1 Reply

Crystal SmithPro Member

Moderator

Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes

2mo

Quote from @Corey Goodwin:

Hi all,

I recently got my Florida RE license, and I have been working with an investor-based company based out of Fort Lauderdale. I'm finding and sending them distressed property lists on the MLS, and they're telling me that the properties I'm sending them are fantastic. I have one under contract right now for 140k on a 225 asking price, but this is how all of their offers are. We're going through many, many offers before I even hear back from the sellers... This 140k deal will be my very first as a realtor, and I'm doing it remotely from Massachusetts right now so I won't be able to do open houses or any of the normal agent activites until I get back next month.

Finding these properties and writing the offers takes a ton of time. I know this is what I signed up for, but each offer is roughly half of the asking price or lower. They have margins to meet so I understand needing less than asking price, but what can I do to increase my offer to acceptance ratio? I'm hardly even getting counter offers - that is, if the listing agent even bothers to email or call me back.

I just charged them my first retainer fee of 299$. I don't do cancelation fees and I have a hard time getting other buyers to sign the buyer-broker agreement (property specific), even with no fees at all. I'm totally open to working with other investors, but they're hard to come by, so cold calling these companies seemed like the best idea to me. Does anyone have advice? I try to reach out to the listing agents beforehand and seeing if they will take a below asking price offer, but so many don't answer their phones...

I have a ton of opinions on this given that we are investors as well. One of the things you have to decide is how much your time is worth writing the low ball offers. My recommendatinos:

1. Consider hiring an virtual assistant to write the offers. Yes it's another investment, but while the VA is writing up the offer you can be doing something else.

2. If you're using a state contract for the offers give the client a copy of the contract and have them complete it themselves and send it to you signed. You'll also have to provide them the disclosures. When you receive the signed contract and disclosures and review them then all you have to do is submit to the other side. Again a time saver.

3.Before submitting a low ball offer review the recently sold data and/or days on market and let the client know when an offer will not be accepted. If they refuse to accept your advice based on data then consider dropping them as a client.

4. Consider only submitting offer for them on HUD or Fannie Mae Listed properties. Those organizations regularly accept offers below list.

312-681-7487

1 Reply

Advice for a new Realtor

Advice for a new Realtor

Most Popular Reply

4 Replies