Dan,
I know what you mean. I know that if I see an oppurtunity that I will take it. Come on who would not. I think she was not right in her mind. But at the same time she could have been mad that she had listed the home with the agent. Now she is stuck paying 2 payments for lets say 6 months or so. But I will call her back and see where she goes. Then we will go from there. All I can say is that I learned my lesson and now have to move on to the next deal. Thanks for the response.
Cordially,
Lazaro
Re: The other side of the coin - Posted by Mark (SDCA)
Posted by Mark (SDCA) on June 18, 2001 at 12:06:42:
First let me say that I agree with what you are saying… There are a lot of newbie investors who couldn’t buy a garage. There are also a lot of REALLY lame agents.
In CA you can be licensed in a period of 3 weeks I think. Maybe even less if you get your app in at the right time. The class is only 3 days then take the test. Poof. Instant realtor. Believe me these “instant realtors” know jack.
Here are a couple of gems I have had these “professionals” drop on me.
“You cannot fill out that offer form yourself. It is illegal.”
“I cannot fax you a blank offer form. We don’t do business that way. Besides, you [as a buyer] must be represented by a buyer’s agent.”
(She obviously skipped day 3 of class when they go over dual representation!!)
So if anyone is complaining about realtors… they probably have good reason based on my experiences. Sure, there are some super realtors. I am lucky enough to be working with a true pro right now. But I have found that they are at least as rare as the RE deals we are all looking for.
Rob,
That is true not ALL real estate agents are the same. But as you and I and everyone else knows there can be some bad ones as well. I will also do as you mentioned. I will call back in a few months and see where she has gone. And I just have to move on to the next deal. Thanks for the response.
Cordially,
Lazaro
Matt,
I have learned not to say what I said. Now, I think you have a good point on sending those postcards. It is much easier to handle the call when they call you and you didn’t call them. When they call you they are in the position of needing help. They called for a reason. Now, this was the first time I attempted cold calling. I do postcards and bandit signs as well. Thanks for the response.
Cordially,
Lazaro
Sandy,
Good Tip. You and Jim both are a great help. It is good to know that you guys are in Florida. Well, he will be in a few weeks. ha ha ha…
Cordially,
Lazaro
JimIL AKA JimFL,
You are correct. That is what I ALWAYS do. But this lady didn’t want to be nice. I was real nice and tried to get on the same page as her. Maybe I should stop saying I am a real estate investor. I told her because she told me that she had listed the home with a real estate agent. Then that was when I told her. I told her that I really didn’t like doing business with real estate agents. Hey by the way Good luck here in Florida! Email me and we can get together and have a talk. Jim I would really love to spend some time talking to you. I KNOW I have LOTS to learn. So, email me and maybe we can go out for lunch or diner.
Cordially,
Lazaro
Posted by SteveS(CPA) on June 14, 2001 at 15:25:53:
Jim,
Yes. It is true. You have to bond with the seller if you want to make a deal work. A relatively unmotivated seller will accept your offer more times if they like you and trust you. That does not stop me from making my embarrassing offers. And I say, " you know Tom, Nancy, I’m really embarrassed to have to make this offer, because I really do like you, but gee wiz, I think this is the best I can do right now for your property."
Now I’m not saying ham it up or lie to them. Most sellers are really nice people. And the better investors are problem solvers, but they are also business people. Your job is to find that line between giving them what they want and coming out of the deal with a fair profit for your time and energy.
Personal Note: I don’t offer FSBOs 50 - 60% on their property ever. To me that?s not a fair deal, its highway robbery. It’s ok to do with banks and builders because it’s business. And they know its business. When you’re dealing with a FSBOs, even if you tell them you’re an investor and its business, to them it’s their home and it’s personal. And you have to treat it that way.
I try to only do deals where I can look at myself in the mirror and not be ashamed of the person I’m looking at.
Jim, I pretty new, but I really liked your concept, that’s what I’ve been trying to do is find something in common with the seller to put them at ease and have them look at me as a person rather than the big bad investor trying to take advantage of them. I also like that idea of not telling everyone your a real estate investor; I’ve never felt comfortable with that label, as everyone seems to stereo-type real estate investors with a pretty low opinion- A problem solver is a better term as it reflects what we do!!! Just my .02
Lana - Joshua TX
Posted by Mark (SDCA) on June 18, 2001 at 12:00:25:
Here is one thought… Deal with the 7% who CANNOT price their property right.
These would be pre-foreclosures or recent purchases (transfers, divorces etc). My goal would be buy subject and then either LO or wrap.
It sounds to me like this woman has a screw loose. I would not worry about her getting mad at you. You’re probably better off not dealing with her, anyway.
However, I would not have said “I don’t like dealing with real estate agents” even though it’s true and I don’t like to do it either. The reason is, that this woman just listed her house with a real estate agent, so she (and the vast majority of the public) has an inherent trust in real estate agents. Thus if you state that you do not like real estate agents, it is as if you are saying not to trust someone that most people trust, which hurts your credibility.
Also, remember, you’re trying to be a problem solver. How does this comment help to solve her problem? It didn’t, nor does it create rapproachement with the seller, and that’s why it’s not a good thing to say.
Nate you are correct. She must have had a loose screw. I don’t know of anyone that likes to pay 2 payments when they could be making one. But at the same time some agents can sell their opinion very good. Then there are some that have such a small brain that they can’t even think outside of the box. I WILL call her back in a couple months. Then I will ask her if she has sold her house. Then when she tells me NO I will tell her if she is ready to listen to me. Then we will go from there. In a way I know I should have also left " I don’t like working with real estate agents" out. I can ONLY say that phrase here where ALL of you understand. Lesson learned but on to the next one. Thanks for the response.
Cordially,
Lazaro
Posted by Lori Samson on June 14, 2001 at 17:42:45:
I made that same mistake myself and told the person on the other end that I really didn’t like agents and she informed me that her husband was a broker and they had it listed with one of their agents handling the house. Oops! I learn quickly though! I never said that again.
Heck I complained here last year about being yelled at by an agant who accused me of breaking into on of her houses that she left open and unlocked and someone here called her and told her and she responded to me online! Another ooops! Don’t name names! She later circulated the story and even changed it a few times. I had a great slander case against her but decided to drop it… some things are just not worth the trouble! She actually repeated the break-in story to my best friend.They were in her office to sign a contract on one of their houses and they had left their daughter playing at our house(our daughters are the same age) They left her office and came to our house and told us what she had said. She had no clue that she was telling her lies to our best friends who already know the whole story. Boy, if the sellers only knew who was handling their house! They are in Calif. and have no clue to how aweful their agent/broker is handling their house.The house still sits empty and it’s been nearly a year! Yes, there is a God who judges agents!I just feel sorry for the poor sellers. She (agent) even called the sellers “New York penny rubbing Jews” to our friends and said they where using it as a tax write off. Boy, if they only knew! I’m bigger then that and I just walked away from all of it. This wasn’t an investment, I was wanting to live in it myself!
Again, the lesson to be learned… careful what you say and to whom!
A very good lesson that you learned. I also will learn from my lesson. I will also will learn from your case. Some agents can mess up everything and then there are some that don’t mess up everything. Some are very nice and others are just down right dirty. Some can use some bad tactics to ruin your reputation. But I will say not all are like that but ther are many that are. I hope you learned from your lesson as I did from both yours and mine. Thanks for the response.
Cordially,
Lazaro