When I worked as a real estate investor, I usually wasted a lot of time and lots of energy talking to real estate agents. Among other people, (like friends and family)…if you told a realtor about my approaches of purchasing a house…they will tell you that my methods are not effective and you cannot purchase a house in such a way.
All my real estate purchasing approaches are completely legal and ethical. Try to understand my right. I used the services of real estate agents before. I have always used them to sell my houses. When I am going to buy a house, I simply do not talk to them. But if you use their services correctly, some of them can be of a great use.
But some of them have even no idea how to do everything right, some realtors can even be sure that they do everything right and they can teach you.
How do they place food on their dinner table? They act themselves in such a way when it comes to selling a house. The only way they know can guarantee them a commission when the owner of the houses changes.
From the other side, you are going into an undertaking, talking about 2nd mortgages, lease options, seller financing, wholesaling and all these different ways of buying a house and suddenly you see that everything is not so clear. The real estate agent does not understand where he should be paid. Many of them can even think that you are hyping them of their commission.
Actually, if I were in a realtor’s shoes and hesitated and do not know what you are going to do, I would be very careful with you as well. So, let’s assume that you stopped communicating with realtors when you are looking for houses. Just stop communicating with them. What is going to happen? I asked this question my class lately. I have got lots of excellent answers…
- Newspapers
- FSBO
– Craigslist
- Friends & Family
– Driving around neighborhoods
- Old Listings while jogging
The perfect ways to find sellers is “outside the system”. So, I’m quite proud of my students. This was, after all, only the fourth week of thirty-eight in my class when I asked them this question.
What can you tell about six ways mentioned above? Can you see a pattern? Look more attentively if you haven’t noticed. Are you still trying to contact these sellers? Reviewing the classifieds, craigslist… you pick up a deal. In a second way you can find sellers.
So what is the third way?
Are you ready?
Get them to contact you.
Now you are in charge. You can negotiate from a place of power. So how to make them call you, then? Well, it will take three weeks of training, but it is too much:
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