Working With A Realtor....I'm Confused

[Valorie Lewis]

Hello BP!

We are still quite new to RE Investing. We are getting started with Wholesaling and working with FSBO homes.

My question is "How do we get accurate comparables if no realtor is involved?"

I don't see any incentive for a realtor to run multiple CMA's for us on a weekly basis, if we are not using them to buy the properties because we are working directly with the homeowners and our cash buyers.

I'm sure I'm missing a step or perhaps I misunderstood some aspect of running the numbers.

I was under the impression (from our training) that Realtors would have no problem running comparable if we just ask them...but I just don't see why they would spend their time running comparables if they aren't getting compensated.

So I'm hoping some investor friendly realtors (preferably in Topeka or Kansas City) can help clarify and answer this question for me.  Thanks in advance!

Valorie

[Mike Cumbie]

Hi @Valorie Lewis,

You have to find the right one and you have to have something to offer. One things agents love is motivated leads. For example you find a homeowner in your travels that wants to sell pretty much retail. They are in no way going down to 60% ARV. The house is worth 100K and they want to sell it for 100K. Your buyers list isn't going to even look at it. So what do you do? Walk away head down? Keep beating on it until they kick you out and put a restraining order on you? Nope you say the following to them.

"It's not something my buyers list would be interested in, but let me give your name to an agent friend of mine who deals with properties in this condition. He/She is great at marketing properties on the retail market and I think your property would be perfect for them to take a look at"

Then you call me up and guess who just earned some free CMA's! Now we start our relationship. Will I ever be devoting hours and hours of time? Not unless you are feeding my whole business but me taking some time weekly to run a list for a lead generator, sure that's a no brainer in my opinion.

Keep in mind though it will take the right agent, not everyone will work with a wholesaler, some consider them competition. Some won't even talk to you. 

Good Luck in your investing