So as I promised at the beginning of the year, I’m going to pull the curtain back on a lot more of my day to day business. Otherwise this blog is going to die from my boredom. So, I here now disclose more to make this more interesting to contribute to and for you to read.
So here is contribution number one:
Everyday, I am in contact with Realtors about short-sales that they have listed which meet my criteria (my main criteria is that the property is ideally in a “sellers’ market” and that there is at least a 10K spread between my buy price and the sell price). I propose the following to Realtors:
- I make a cash offer
- You get dual-agency on the listing (double commission)
- I negotiate my own offer directly with bank
- You meet with BPO agent and ‘educate’ them on the property
- I close on property
- I resell property
- You get 20% share of net profit for your additional work (BPO meeting, CMA preparation, etc)
The model seems like a no-brainer to me. However, I constantly have to fight against the reputation that I’ve inherited from lame investors in the Realtors’ past and/or just plain tentativeness by the Realtor to work with someone new.
So in a nutshell, it’s a numbers game. Get past as many Realtors who don’t get it, to get to those that do. And I have a lot of help from two of my VA’s in this process. They make the preliminary call and give the agent a general overview. If the agent wants to learn more, they make an appointment via TimeTrade to talk to me. Thus, I only talk to the warm-leads.
While this is working better than me doing the cold-calling myself. I’m still thinking of how to only talk to the HOT leads and have something else filter out the warm which turn cold. I’m thinking about a pre-recorded presentation, webinars, etc. Don’t know what the answer may be yet. Anyway, here’s the video from a live call today.
– Peace Out
Next time I need to NOT roll out of bed right before an appointment. I was barely awake.
I don’t know why the video and audio got out of sync at some parts, anyone else have that issue with Camtasia?