Consistency why does it matter?

REO, FORECLOSURE, and other type of investor buyers.

Consistency why does it matter?

     I have been self employed since I was 17yrs old. I have learned a wealth of knowledge about business, finance, and self motivation. I also have paid for numerous training programs, software , and memberships. I have learned one thing throughout all of my adventures. No matter how much money you throw at a problem unless there’s consistency and follow-up behind it it isn’t going to work. Yes it doesn’t matter who your trainer is. It doesn’t even matter if everyone before you had achieve success.

     We to many times are looking for the quick fix. This time ladies and gentlemen there is no quick fix. Things must change in your business and outlook if you want to survive the Doesn’t matter how much it cost you it's time to tare down your business and build it back up from scratch.

     First we'll talk about prospecting, Everyone says they do it, everyone swares their the best at it, if that was the case our country wouldn't be losing so many jobs. Yes we all know that finding new prospects to fill our pipeline no matter what the industry is the best way to start off, but how many of you out there are prospecting efficiently? Are you babysitting clients that aren't qualified? Are you driving around investors who won't pull the trigger on a deal? Are you being shopped around for a lower rate or better deal? Are you doing anything to keep the deal even compromising your systems and standards? It's not about not having an abundance of deals it's about having the right deals.

          How many Realtors are giving out REO lists and MLS print outs until the cows come home? First off people must prove there worth your time. I know that sounds harsh but listen this is a benefit not only for you but also for the client. Why would you give out REO listings to someone who doesn't have the means to close? It's silly but lots of agents are doing it. They think just because their printing searching and putting together lists that their being ultra productive. Wrong their just doing activity with no productivity. Instead of just giving out lists for REO investors have them put some skin in the game and prove their ready to jump. Ask your investors, are you truly ready to buy and if we find a deal will you write an offer on the spot? If they say yes then say ok here is the terms that I require for me to give you access to all the systems that I use to find great investments for my clients.

1.  I need proof of funds.

2.  I need you to deposit 10k in to an escrow account that we can use when submitting our offers.

3.  I need a detailed requirements list of S, room count, lot size, zoning desired, and city's desired.

4.  Per type of property I need a price range SFR? Duplex? Triplex? Four unit? And it can go on further depending on the investors interest.

5.  Firm dates and times of when he or she are available to view properties.

6.  A complete list of all parties that would be involved in making the final decision on weather to purchase or not?

7.  A commitment that all decision makers will be at all property viewings and or inspections to avoid the time delays of having to show the property multiple times.

8.  If the buyer is financing any of his or her purchase a pre-approval letter as well as agreeing to be pre-approved by my lender.

9.  A copy of the buyers current credit report if the buyer will be financing any of his purchase.

10. Signed internal disclosures that deal with the release of liability regarding the potential of being re-assessed for property taxes by the county assessor if they perceive that the purchase was to far under market.

11. If the investor will be re-selling the property after rehabbing it right away a commitment to list with our company.

12.  A affidavit stating that they are aware of all tax liabilities on selling a property before holding it for 12 months as an investment and then selling through a 1031 exchange to defer capital gains tax.

13.  The name and or names of all inspectors they'd like to use as well as any and all contractors they will be needing to view their potential properties.

14.  A commitment that every 30days the buyer will provide updated proof of funds and any other documents that may be essential to the transaction going through.

15.  Execution of a buyer broker agreement.

     I know it's a lot and you'll scare off a lot of potential buyers but if you think about it if an investor was serious all these requirements would be no big deal and actually will be seen by the truly committed investor as a sign that you are all business and are making sure to get them what they want.

     How does this help your buyers? It allows you to not waist their time, not show them things they can't buy, and not give them false hope.

     I know I'm harsh and 99% of agents and brokers won't follow through with these steps but the 1% that does will free up their time close more deals and increase their ROI tremendously. We will discuss more on upcoming posts. Just remember the topic of this training series consistency why does it matter? It matters because if you stick to your systems every time you’ll be able to predict results, step out of your business and enjoy your life, and build a brand that can live on and be sold and franchised if so desired. For free training, questions, and or live presentations and mentoring please don't hesitate to contact me.

Guillermo Serafin

DRE: 01471159

Broker/Owner

Realtor, Mortgage Planner, (Residential/Commercial)

Foreclosure and Short Sale specialist.

Trainer, Business Consultant, Wealth Manager and Ad visor.

BUILDING LEGACIES THROUGH UNPRECEDENTED EXECUTION

Office (310)597-5546

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E-mail yourvisionismine@yahoo.com