Wholesale leads

[Adrian Reyes]

Hello Again, So I've been taking the wholesale strategy and putting it into action, I just had a question about leads, basically the way I'm going about it is I'm searching for properties through listing agents and through my local real estate agent he'll send me notifications such as price reductions, foreclosures, fix-r-uppers, etc. and I start analyzing on the property. I know the main concept is to market for leads through bandit signs, direct mail, so and so forth. The question is; Once the property gets listed through an agency does that necessarily mean that it's too late to make an offer on the property? Or can it still be negotiated and purchased for a great wholesale deal? In other words is it best to pick up the property before it gets listed into the MLS? I know I said I just had one question but as I'm typing so many come to mind please bare with me. Thank you

[Greg B.]

The problems I have with the MLS are the agent gets paid off the selling price. The higher the better. The agents usually over promises by over pricing the property.

If you use an agent have them send you properties that have been sitting on the MLS for a looooong time. The thing with that is the seller is still delusional and since you'll have to deal directly with the agent, negotiations can be tough. The best would be to have your agent send you expired listings. If anything looks promising have your agent earn their commission by contacting the owner and negotiating the best price.

Good luck