All Forum Posts by: Doug Pretorius

@Omar Ruiz Wait...so you just came on here to brag about your system that hasn't generated a single deal, and you're arguing with not 1, but 2 people who have closed deals with their simple nearly free methods?

I smell a badly disguised attempt to sell your online lead generation services.

@Omar Ruiz I think we all tend to overthink, overcomplicate, and overspend on what is an incredibly simple thing. Instead of doing all of that stuff you listed, I just call FSBOs. They're already telling you they want to sell. It costs nothing to contact them and hardly takes any time.

Out of the last 30 FSBOs I've called I have 1 house under contract and 5 warm leads to follow up on. I don't even have a website or business instagram account, and don't get me started about that hot mess called facebook.

@Brad Braun It's probably because I live so close to the most competitive real estate market in the world. Full service brokers are doing 2%-3% (both sides) and still losing half the listings to flat fee.

Moral of the story is we can work however we want with whomever we want. Also keep in mind that 50% of the houses on the MLS are listed with flat fee brokers now and soon it'll be 100%. Investors don't have to waste their time with agents who won't play ball. Just go straight to the owner.

 No.

@Matthew Olszak Well said. That's why I said 'technically' all offers are supposed to be presented, but in reality they aren't. Buyers agents need to get paid for their time and the commission of one sale doesn't justify making 100s of offers. While listing agents most likely already have perimeters set for what kind of offer they will present.

If an investor wants to make a wholesale offer, whether that's price, or terms. It's best to do it themselves. It's not hard! If it's listed all I do is either knock on the door, call, or send them a letter. I ask a few questions to see if they're qualified, then write up the offer and email it over. If their agent gets involved and makes a mess I walk, otherwise the seller or I pay the agent and we get on with our lives.

@Account Closed I hear ya. I use an Option contract that's 1 page; 2 pages if it's a lease option.

@Gabe Viteri @Russell Brazil and the other agents in this thread are talking about retail offers to unmotivated retail sellers and their unmotivated retail agents. The podcasts are talking about making wholesale offers to motivated wholesale sellers. Both perspectives are correct, they're just talking about two entirely different markets.

It's like going to a new car dealership and offering them $2k cash for the 2019 Lexus on the showroom floor. Of course you're going to get laughed at if not thrown out. But if you go to the guy down the road with the rotting Pinto in his driveway, he'll jump at the offer.

@Account Closed I'm glad someone else in this thread pointed out the obvious. Just make the offer yourself directly to the seller! There's no law that says you have to hire an agent to make offers on MLS listed property. And there's certainly not law requiring YOU to become an agent. The only 'law' is that the seller has to pay their listing agent's commission regardless of who procures the buyer.

@John BurtleThis situation is a very common problem I've come across over my 18 years in real estate. Even though technically agents are required to present all offers, in practice they don't.

If you want to become an agent that's fine. But contrary to the advice you've received so far, this situation doesn't require you to be an agent. There is nothing preventing you from making your offer directly to the seller. If you think it could be a great deal go knock on their door or give them a call!