I live in a great little community in central Phoenix, it was built in the 60's and they were the typical shag carpet, with wood paneling and the 60's decor, but they were built very well and each house, of about 25 total, has their own character. Over the last several years, investors have been totally gutting them and making them into state of the art beautiful homes selling in the $400,000+ range.
As a realtor you can develop a lot of leads and repeat clients with real estate investors. Below you'll find some very simple things I did to develop steady listings with my investors and flippers. So being relatively new in the business I thought about what's going on in my community and decided to talk to the investor and flipper, fixing up a house in my commuity in which the owner passed away in due to old age. I watched for about 3 months as they bought, gutted and invested about $140,000 into it and sold it 35 days later for a $85,000 profit, they used the same agent to purchase and ultimatley sell it, nice pay day right! That deal alone represented about a $20,000 commission. It's subsequnetly raised comps in our neighborhood. Heres the before and after
I met with the flipper and asked him if they had a realtor they use to help them identify and purchase their properties. He mentioned that he did, but that they are always looking to develop new relationships, the next piece of advice is what opened the door for me to get 2-3 listings a month.
- Meet with estate attroneys. They're the ones who most times help enforce wills and probates of estates.
- Cold call them and ask for a meeting. Thats what I did, the attorneys will give you a quick free 15 or 30 minute sit down.
- Have your questions ready, but remember you're selling yourself and they need a reason to use you over someone else.
- Make yourself familiar with estates and the probate rules and regualtions in your area so you can "speak their langugage" remember attorneys view everything very myopically and make things alot more difficult than they really are. They over analyze, its in their nature.
Remember the guys flipping the house in my community. I got their emails and began sending them searches for similar houses, they were so impressed with my tenacity, they purchased one of the properties I sent them and used me. I subsequently have 3 law firms that now use me to help sell homes from clients either in probate or during the willing process. It's opened up a whole new steady stream of clients, and remember attorney's talk, my phone hasn't stopped ringing.
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