Flip Tip Summary
Are you working with real estate agents and brokers to find more investment deals? There’s a right and wrong way to find deals through agents, and Jacci Konkle tells us the ‘right’ way in this FlipNerd.com Expert Tip. Don’t miss it!
Flip Tip Transcript:
Mike Hambright: Hey, it’s Mike Hambright from FlipNerd.com, and we have a quick VIP tip to share with you from Jackie Conkle [SP] who is going to share a tip on how to get pocket listings from local agents and brokers to help feed your real estate investing business.
Jackie Conkle: First of all what is Pocket Listing? Pocket Listing is when you get a lead from an agent or a broker that hasn’t necessarily hit the MLS yet. It’s like they’re calling you before anyone else knows about it. And the best way that I’ve found to be able to do that is, first of all, you want to get the biggest audience. If you can go in and talk to the broker at a real estate office and ask if you could come and just be a guest at their next staff meeting. And just go in and do a quick presentation on who you are and what you do. And let them know that if they come across any calls to list a property that, maybe it’s an estate property or maybe it’s just a rundown property or whatever, and they see it as a good opportunity for a cash buyer to come in because maybe it needs repairs, updates, whatever it might be. That if they think it would be a good one for a cash buyer to come in and take and renovate that they should call you first. Let them know that they can double dip. What that means is that they can get the commission for listing it and they can get the commission for selling it. You will let them write the offer. They don’t need to necessarily represent you. You’re representing yourself. They can just have you as a customer. But they’ll be able to get both sides of the commission. All they need to do is call you and let you come and give them that cash offer. That also could be an edge for them. Where they could let their new client know, hey I’ve got cash buyers on my list, in my pocket. I’ll give them a call and see what we can get for an offer for you to get out this property right away. So that’s gives them a leg up too as an agent in the marketplace. It makes you one of their favorite people.
Announcer: Thank you for joining us for another Flip Nerd flip tip.
We’d like to thank our sponsors, RealtyMogul.com and National Real Estate Insurance Group.
To access the most robust social platform in existence for real estate investors, where you can find off-market wholesale deals, find great vendors to help you in your business, and learn and socialize with other real estate investors, please visit the all-new FlipNerd.com. If you’re not yet a member, you can set up a free account in less than a minute.
Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.