Finding a good realtor!!!! DAMN, THIS IS HARD!!! People just don't want to work nowadays.
I had a realtor before and she was the worst one of the kind. I had to bring her,litterally, the properties I wanted for her to just put her signature and collect her 7%. So I refused to make the same mistake this time around.
I started calling around and speaking to realtors today. I called 5 in the span of about 40 minutes. I figured the best way is to be honest about what I am planning on doing. So my whole speech was "Listen, I want to buy foreclosures, REOs, tax sales - whatever and I want to sell them within 30 days, and I am looking for you to help me. I am also looking to get some properties together and just bid on 50 at a time. Also, I want you to feel comfortable about low-balling banks. If the bank is asking 200K for a property that is estimated now at 300K, I want you to bid 100K and let them come back to me with a counter offer".
Well, honesty is sometimes the best or the worst policy and sometimes combined. 3 realtors were lost right away, they refused. I don't know if it was the idea of 50 houses at a time or low-balling, but they declined. I appreciated their honesty though. I rather them say no now rather then waste everyone's time.
The 4th realtor was too apprehensive about it.
So I called the 5th. She was a GEM. She told me that this is what she specializes in and she works with investors and financial gurus and has a great client base to whom she can sell the houses too. So looks like I found my realtor! She was excited about it too!!! I am meeting her next week, she has a list of 170 foreclosures she wants me to look at and tell her what I like so she can get a feel for what I am about and what my tastes are. Once she knows me, she can place those offers on her own. NICE!!!
I guess what I have learned is that it's better to be straight with your realtor right up front and tell them what exactly you want to achieve. I told her my goals and I told her that I rather buy their foreclosure listings because that will make her more money and I rather sell through her too and I don't mind paying her commission if she brings a buyer to the table, the way I look at it is that she is my new employee in my new business.
What do you guys think? Do I make sense?
-- TIME IS A TERRIBLE THING TO WASTE, SO STOP WASTING IT --