Do you talk to the decision maker?
I was shocked one day at one of the MasterMind meets a few months ago when out of the blue I asked the group-who comprised of semi-seasonal RE pros, how many of them negotiate with the seller?
The question came up during a discussion of financing deals when I stated that many of my purchases are owner financed. One of the participants asked how do they bring that up with their Realtor. Thats when I asked about how they are buying their properties. Thus the discussion quickly went from financing to acquisition.
First off- using a Realtor is fine. I do all the time- when I sell a house. At retail. I buy my houses at wholesale - directly with the seller. That sounds pretentious but it is true. My advertising, my paperwork my "pitch" is geared to the seller. Not their representative. Once you have the seller sitting in front of you is when you will probably get your best deal. Especially in today's market when foreclosures are down and competition is high.
There are books and books on HOW to find buyers. I network. I pay referrals. I know my area. Just start building your campaign now. Within a few months you will be talking to sellers directly. Then you can get creative and control the property before you purchase it- but that is another discussion or blog for later. Now- get in front of a seller this week. Its fun! Enjoy...
Comments (2)
Great post, John. You are so right. Just get in front of people. My opinion is: Very few investors actually do the networking that they need to do. If I were starting out all over again, I'd make it a goal to get in front of at least 1 person every single day and figure out how I could help them (they might turn out to be a seller, a buyer, a referral -- whatever). By the end of the year, that's 365 people in my network that I didn't have at the beginning of the year. I applaud your networking efforts and your focus on getting in front of the seller.
Kent Clothier, about 9 years ago
thats the plan. Hey- just walk the dog a different way each day around the neighborhood you will be surprised what your neighbors know!!
John Santero, about 9 years ago