Question on making offers

[Arthur Fuller II]

@Brandon Turner tells us that we should be making multiple offers weekly. My question is what is the best way to do this? I recently set up an alert on redfin.com that tells me when something comes on the market that fits my criteria - but once something comes up do I simply contact the listing agent and tell them what I want to pay? or should I have an agent represent me and make the offer. And if I do contact the selling agent and give them the opportunity to represent me but give them an offer bellow the listing price and I running the risk of offending them?

[Michael Quarles]

Originally posted by @Arthur Fuller II:

I want to thank all of you for replying. Just some background info: I'm in Los Angeles.. this market is over saturated with mailers and you need a budget of upwards of $20k a month to be successful here. I'm trying other methods, cold calls, door nocking etc... Also trying the Random deal that pops up on the MLS. That's why I asked about making low ball offers.

 Good to meet you Arthur.

Maybe I can help... As a California Broker and an Investor who has bought hundreds of houses I have only purchased one using a real estate agent or from the MLS (Multiple Listing Service).

Reason  is simple, I want to buy at a discount... Typically 35% off "As Is" value. 

The reality is that a listing broker who has a seller who would accept a 35% off offer would just buy it themselves... Sure there are disclosures to sign and fairness issues to deal with however its done everyday. It doesnt mean that you wont find an opportunity I am just saying the likelihood in the beginning of your career is slim... 

Agents will want to know you have the ability to perform before they waste their time... 

There are a host of other means for capturing sellers besides the MLS.

I bet your cell phone is full of local contacts who know and love/like you... Talk to them and let them know to spread the word about you.. I bet one of them know someone who is willing and needing to sell today.

Visit the foreclosure sale auctions. In the beginning it wont be seller fruit youll obtain however it will be loaded with buyer fruit.. And those buyers have cash. One may take you under their proverbial wing. 

Cold calling is excellent, I am happy to see you doing it... Dont stop... 2 hours a day everyday workday. Door knocking is tough.... Although can produce opportunity...

Join your local Chamber of Commerce or BMI group and start networking... Every luncheon, ribbon cutting and mixer... Be there passing out cards. 

Make certain that you always have a set or two of contracts on you at all times and always have business cards... If you need some let me know I will send some to you. 

Every time to have the opportunity say hello do so. I call it Purses, Shoes, News and Sports. If you listen to News Radio and Sports Radio 10 minutes a day youll have all of the ammunition you need to strike a conversation up with a male and if you spend an hour or so at Macys / Nordstroms studying Purses and Shoes youll have the same for females... Simple conversations lead to great relationships.

BTW - We dont Low Ball Offers... We offer an amount that causes a win win fair solution. 

Also... you have this... Go kill a house or 10.