How would you introduce yourself to an agent?

Question

Hello all,

One of the agents in my area has a lot of REO listings and I would like to introduce myself to her as a cash buyer. What's the best way to go about it? What have you guys done in the past that worked? Appreciate all the feedback.

Nick J. · Answer

My initial thought was more on the lines of Bill's first sentence. Be all Alpha male and show up like that guy on '17 Again' where he goes in the school office 'peacocking'. That was hilarious!!

I'm assuming your new based on your profile. I can't say honestly what the best approach would be these days after so many agents waste their time with newbs(not saying your a derogatory name like newb).

I know at this point, if I were interested in REO's it wouldn't take more than a phone call but thats simply because I have an array of realtors that have made lots of commission from me to validate my legitimacy, I have actual cash to show and prove etc....

Anson has a great point that the top dogs are already in the pockets of performers so you'll need to perfect your 'peacocking' game. If you have cash, show her (and not in the sense that Bill mentioned, although, that actually might work as well). Tell her exactly what you're looking to do.

Most importantly, don't let her waste your time either!! I dunno if I even answered your question, I feel like I went off into a rant for some reason. Maybe its the 2 Rockstar drinks I've had today?

Sharad M. · Answer

Thanks Steve! i am going to try that today.

Steve L. · Answer

Big offices typically have multiple "buyers agents."  I would submit some low offers yourself and see who does the notice that the property has gone highest and best.  Pray that person is licensed and will represent you. If they aren't licensed ask them to recommend an agent.

My 2 cents.

Sharad M. · Answer

Thank you guys for all the great responses. They help a lot.

@ Bill - Good luck finding everything you are looking for, properties and may be some love :-)

@ Jeffrey - Yes, I am really a cash buyer :-)

@ Anson, motiv8td & Edwin - those are some great tips. Thanks!

Edwin Brown · Answer

Just be persistent. Continue to call. If its a woman send her flowers. That'll get her attention.

The reason that REO agents ignore so many investor overtures is because most of them don't pan out so they are a waste of time. You have to convince her that you are not a waste of time.

The best way to do that is put your money where your mouth is. Go drive by her current listings and find the one best suited for you. Then go to her office and make a cash offer through her. That'll get her attention.

Jeffrey K. · Answer

Are you really a cash buyer?  If you write enough clean offers for cash and close in two weeks you will get her ears.

Not to be a downer, but you live in Chicago and unless you are a big player or have a mutual contact, her secretary will probably just throw you number out with every other looser that calls trying to pick off a deal or two.  You need to be able to take down a package in cash or find a smaller broker who might get a few deals a year and be easier to get in with.

Bill Gulley · Answer

My approach....

Helooooo Babyyyy, I have cash!

LOL, Ooops, wrong line, How about a phone call to set up an appointment, ask if she would mind discussing it over dinner because you are just swamped!

Not too ritzy, Steak and Ale is fine. Tell her what you are wearing and that you will meet her in the lobby (not outside because they don't want you to see them outside ina parking lot or some, not even what they are driving) In the lobby area.

Have your best smile and handshake ready. Get you table, order water and ask how long in the business, small talk it. Have dinner with snipits of what you are looking for. After desert, hit her up, this is wht I was hoping we can do....

You just fed her, all Realtors love food and opportunities to eat, now she owes you a little consideration here. Give your pitch and take it fom there. If she wants both sides, tell her what you'll do when you have a so/so del, a good deal and a really good deal!

OK, I'm single, LOL.....but it's just business! Good luck, Bill

Anson Young · Answer

Depends on what is going on in your area.  I know here, (and as an REO agent) that I delete and trash a few investor inquiries a day.  The 'big dogs' in REO are either:
1. already working with their fab 2-3
or
2. straight laced and will not hand deals out under the table
either way they are certainly:
3. under more pressure and scrutiny from other agents and the board now that volume is down and more investors are clamoring for deals.

The bigger agents are always under a microscope.  2 of the top 3 agents in town will not just hand out deals like they might have in '08, because of the above.

You have to make it worth their while, if you offer to use her as your buyers agent and list it on the back end as well, she is getting 3 commission sides out of you and you are a worthwhile asset.  If she is willing to take the risk/liability of course, and those agents are becoming less and less these days.

How would you introduce yourself to an agent?

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