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Tool to Help Find Buyers

This topic contains 13 replies, has 0 voices, and was last updated by Avatar of amyhutton amyhutton 9 years, 4 months ago.

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  • #6315
    Avatar of amyhutton
    amyhutton
    Participant

    I found this site where you enter the property you are selling, or if a Realtor, the listing info, and it will post your listing to about 40 real estate sites that show listings.

    It’s for agents and investors. They also have seller leads and buyer leads.

    Right now it’s free to join through a special link I can send you. Seems like a no-brainer to get your property out there.

    If you want the info (I don’t make a cent) email me at amyhutton@aol.com

    I thought maybe this would violate the absolutely no advertising anything that doesn’t have to do with NARS biz, but this gets your properties out there on the net in a perfectly correct SEO/social media way.

    Amy

    #32373

    Any thing you can do to market the property you have under contract via an NEO is a good thing. Now I don’t want to be negative here but let me tell you my experience with listings, either on the MLS or other such sites.

    I have never gotten an RB from an MLS listing. I have gotten a few from various other NON Realtor related sites, but only a few.

    OK Scott, so you’re the guy who wrote the book on “How to work with Realtors using the NARS EHTrust”, right? So what’s the deal with not getting any RBs from the MLS?

    If you just sit back and think about it, it will all make perfect sense why your chances of finding an RB on the MLS is next to impossible.

    1. Who looks on the MLS to “buy” houses? Sure… “Buyers”, real buyers, with cash or credit, right. And what are they looking for? The best value, right? Not that the EHTrust property isn’t a good value but how do you explain the MAV and Full Fair Market Value to someone who has cash or credit and wants a better price?

    2. Other Realtors will see that the price listed (MAV), in most cases, is clearly above they would pay. Sure, they can make an offer, but if it is already over-encumbered or has no equity, that wouldn’t work for us, would it? Or would it? My point is, that we would list it at our MAV and may not have any room to go lower.

    3. If you list it on the MLS, that means a Realtor is involved that has to be paid. Not only do you have to pay your Realtor but also another 3% or so to the Buyer’s Realtor. That means that even if they found an RB, you would have to collect enough upfront to pay the Buyer’s Realtor their 3% and whatever you worked out with your Realtor. In most, if not all cases the buyer’s Realtor is not even going to tell them about our property and if they do they need to tell them that it’s going to cost them another 3% upfront in addition to what we are asking so they can get paid. Now let me ask you, if you were the buyer’s agent and you were looking for a house on the MLS for your Qualified Buyer, would you show them a house that has a higher asking price and that you may make no upfront commission or have to wait a few years to get? Hell NO!

    With other “Listing” sites, like FSBO.com etc, you are more likely to find an RB since that is where those that don’t or can’t qualify and don’t have a Realtor go to find a home. However, the vast majority of those looking on sites for homes are already pre-qualified to purchase via cash or credit.

    Sure, I know we could probably flip it to them via the trust but that means you would have to have a good equity position in the property or trust already to make any money, right?

    The best methods STILL are to place signs in yards, on corners, hand out flyers, network and send potential RBs to individual property sites, etc. I can’t tell you how many deals I’ve done from people who where driving the area looking for rental signs. They see my signs about Rent-To-Own for as little as 2 payments plus Closing Cost, No Down, No Qualifying and they can’t wait to call me for details. I’ll bet over 80% of my deals came from “Drive By Renters”.

    Even though we can do business with the EHTrust anywhere, Real Estate is local, at least for the potential RB.

    I was going to discuss this exact topic today on my OCS Tele-Mentoring Call but no one showed up. Perhaps I got my dates mixed up. We’ll try again next Tuesday.

    BTW, OCS is full until August 1st. If you want to reserve a spot in the next cycle you must email ASAP. It is only $750 for Network Members and I will make payment arrangements. It looks like I’ll have 4 new openings in August.

    For those in OCS now, sorry I missed you all the last few weeks. As some of you know, I’ve been moving to a new house. Man, moving sucks. But, we’ll be right back on track Monday July 5th.

    #32374
    Avatar of sstanton
    sstanton
    Member

    Amy, is that Greg Clement’s web site that is floating all over Facebook? I have not looked at it in it entirety.

    Scott, this site is more than a MLS listing, it takes in about 40 different avenues for online advertising. Also, right now, you may find an RB or two from the MLS. I have seen Agents complain about not being able get financing for the buyer and falling out of escrow.

    #32375
    Avatar of areyes
    areyes
    Member

    you can do it as a MLS lease listing this way they wont expect to get 3% as a commission.

    i know that a leasing agent would get 6-10% of the monthly gross as commission

    also if there’s two leasing agents involved, i would think they would split the security deposit up front for bringing in a tenant.

    #32376
    Avatar of amyhutton
    amyhutton
    Participant

    Here’s the link to get two years free: http://www.MySellPoint.info

    But the link can come down at any time.

    It doesn’t really have anything to do with the MLS. I can put up there on sellpoint, homes that we have under contract and it will go to 40 sites just as if it were an mls listing. It’s for investors too.

    You can put property up there you have in an EHT. It doesn’t have to be a n MLS listed property.

    Amy

    #32377
    Avatar of derrickali
    derrickali
    Member

    @Amy It’s Greg Clement’s New Site.

    @Stu – Sorry I missed you call the other night will try you tonight!
    ~Smiles~

    #32378

    In light of Scott’s comments above about working with realtors, here are some questions I have (they pertain specifically to a transaction I’m working right now, but may prove useful to other NARS members who may be considering working with a realtor themselves to help find RB’s):

    Facts:
    1- My intent is to place the house in a PACTrust, though we (my family) will be providing the loan (the house is owned free and clear)

    2- Because of the distance from my own home and this other home, I’ll be working with a local Realtor there who will only be showing the home (per Scott’s comments above, the agent won’t post its availability on the MLS)

    3- I’m preparing an Addendum to attach to the standard listing agreement I need to sign with the Realtor

    Questions:
    1- How should “Dual Agency” be handled, i.e. check the “yes” or “no” box for this?

    2- Since we’re offering the initial loan pending refinancing down the road by the RB later, no “sale” is yet taking place, right? We’ll also have the triple-net lease in place…

    3- Because no “sale” is taking place yet, is it necessary to spend money now for title insurance and/or a plat of survey?

    4- Again because no “sale” is taking place yet, is it necessary to complete the disclosures (any known defects, lead paint, mold, radon) and to provide them to an RB?

    5- I would strike the paragraph on “Earnest Money”, right? Wouldn’t I instead insert replacement language in my Addendum for the local title company I will be using as my escrow agent for the RB’s initial contribution?

    6- Should all the above issues be addressed in the Addendum so they supercede the language in the standard listing agreement?

    7- Other language I may want to add to the Addendum?

    Geoff Morris
    (708) 302-1280

    #32379

    PS to Scott: If you sent the OCS newsletter/reminder you usually send, I didn’t get that email. I had assumed your next OCS call would be next week, which your message above now confirms…Geoff

    #32380
    Avatar of amyhutton
    amyhutton
    Participant

    scott, You say:
    The best methods STILL are to place signs in yards, on corners, hand out flyers, network and send potential RBs to individual property sites, etc. I can’t tell you how many deals I’ve done from people who where driving the area looking for rental signs.

    Where I live you get fined for having signs on streets $25 per sign. And they are serious. Ask me how I know…

    Something else about where I live (Palm BEach County) A majority of the houses we make offers on are in gated communities or communities with a HOA that always has rules preventing any real estate sign or any sign in the yard or in the window. Only sections of town where the prices are 100k and less don’t have HOAs. I like to work in the massive 300k-700k market.

    Also here, and I’m guessing this isn’t the case elsewhere, almost all the houses on the MLS are short sales. You don’t see too many homes that are not short sales, and when you do the listing prices are so VERY much higher than FMV they don’t have a chance of selling except to someone who has been in a coma for three years.

    This is why my focus eight now is on short sales. That and the act that I don’t personally have to find the end buyer.

    Amy

    #32381
    Avatar of shortsaleguy
    shortsaleguy
    Member

    @amyhutton wrote:

    This is why my focus eight now is on short sales. That and the act that I don’t personally have to find the end buyer.

    Amy

    Me too Amy. Most of my market is short sales and REO. That is the business right now at least in my area. Putting signs out works well though and you can do this on the property just not Bandit signs. I do not like those anyway. Too cheesy and unprofessional.

    #32382
    Avatar of mtnwizard49
    mtnwizard49
    Member

    Much like your posts. Name???????

    #32383
    Avatar of sstanton
    sstanton
    Member

    Geoff, you asked me privately to answer your post, but, the reason for my silence is my working knowledge of EHT-Realtors would not fill a thimble. Scott M. is the master and wait patiently for his response.

    My suggestions would be:
    1. start a new post with these great questions

    - or -

    2. seek out Scott and ask him directly, as you did me.

    Sorry I could not be of more help.

    #32384
    Avatar of dave salcido
    dave salcido
    Member

    Geoff, I know Scott is a bit busy right now. I will call you.

    #32385

    @GeoffreyMorris wrote:

    PS to Scott: If you sent the OCS newsletter/reminder you usually send, I didn’t get that email. I had assumed your next OCS call would be next week, which your message above now confirms…Geoff

    I’m going to change the time of the OCS Call next week because of some other obligations I have but I’ll send out a newletter with the time for next tuesday.

    #32386

    Amy, what I found also works wonders is simply placing an ad in for RBs with no specific property you are marketing.

    Can’t Qualify to Buy a Home
    We’ll buy the house, if you make the payments.
    No Down, No Qualifying
    Only 3 payments plus Closing Costs…
    Moves You In!
    Any Area or Price Range
    Call: 888-888-8888
    or give a website address with all the details.

    Now just have the prospective RBs go drive the hoods they want to live in and can afford and write down all the phone numbers of the houses for sale or for rent in that area. DO NOT let them call the seller. That is what you do. Now just call the seller and ask them…

    “Would you be willing, in return for a Full Price Offer, to leave existing financing and equity, if any, in place for a few years? Etc…”

    What you have now is an instant pre-qualified RB and you can tell the seller we are ready to close and move in ASAP! Cool huh?

    Let your prospective RB do all the looking for you and in areas they want to live and can afford. Cool huh?

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