Realtors are a great source for deals. We used to buy most of our properties from realtors. I say go after the low hanging fruit in your area. That means what works best in your market. At one time the realtors were the easiest way in my market, but now we also use other methods.
Let’s see how you can work with realtors. First, every time you talk to a realtor, get their email address for your database. Next, always ask the realtor if they offer the service where they can sign you up for automatic email notifications (auto responders) when any properties come on the market that meets your buying criteria. Ask them if they can set it up based on certain keywords. If so, you want to give them the types of property you are interested in and a list of keywords.
Keywords like motivated, vacant, abandoned, short sale, transferred, bank owned, handyman special, TLC, needs work, fixer upper, reduced, must sell, bring all offers, etc. are very strong keywords to use. Just remember to call the realtor who sent you the deal and put your offer in through them. There is nothing wrong with calling the listing agent on a property that you found on your own while driving or searching on the internet.
How about asking realtors for the expired listings on a regular basis? These are the properties that were on the market but didn’t sell. Don’t you think the seller will be more motivated after six months of their house being on the market and not selling? Some will and some will not, but it is still another source.
You also want to ask the realtor if they can refer sellers to you that they cannot help due to foreclosure and there’s not enough time to put the property on the market. Tell them that you’ll be a way the seller can sell fast. You can also tell them you can send them any sellers who you cannot help that may be a good listing prospect for the realtor. Always try to create win, win situations that benefit all parties. Always ask realtors if they have any pocket listings. These are listings that aren’t yet listed in the MLS system. Build a relationship with the realtors so they’ll call you first.
How to Find the Best REO Realtors
This is an awesome idea to find out who the REO realtors are in your area. These are the realtors that work directly with the banks or asset managers who have taken property by foreclosure. Simply ask your realtors to send you a list of the properties that have already sold with the keywords of; REO, Bank Owned, Seller Addendum required and Foreclosure.
Then contact the listing agent of these properties as they are the ones that work with the banks and asset managers getting all of the foreclosure listings. Get on their email list, put them on yours, visit their website and add it to your bookmarks and make some offers through them!
How to Find the Top Realtors in Your Market
If you want to find the best realtors by volume, meaning the ones that close more volume in transactions than any other realtors, you simply contact your local realtors association and ask them for the information. Tell them that you want the names of the top five agents by volume.
They keep all of the statistics on all of the realtors and properties. You can also get information on the number of properties sold, the median price of the properties that have sold and ones that are on the market. This is a great place for information.