All Forum Posts by: Brad Jordan

Don,

Yea, I have a pretty good letter of intent and I actually know of another investor that shoots a quick video to serve as the letter of intent along with an email. Kinda makes the broker feel a little better about who you are and definitely more personal. 

John,

Man, you need a plan. You have to establish an specific area that you want to "farm" and start generating leads...nobody's gonna hand them to you.

Do you have a marketing plan, investing criteria, funding in place...etc?

Rusty, 

I still can't see why everyone is getting hung up on the broker commission reduction. This particular deal was a bank owned property. 

But in any case, I have never known an agent to reduce the sellers asking price, therefore reducing their commission on purpose hinged upon a deal that may or may not happen in the future.

The broker commission reduction deal is getting a little clouded here and I'm not sure why. This has nothing to do with the seller.

J. Martin,

thanks

Jesse,

Not sure I understand the question?

Mark,

I don't think the agents have to present the LOI. Some do and some don't. But in this particular situation, I'm just not comfortable having my VA fill out a "formal" offer.

As far as time, it doesn't take the VA but a few hours to go through the entire list.

Mike,

It has nothing to do with the seller, nothing at all. Commissions are reduced all the time, so I can't see how ethics come into play at all. This is simply the terms of "future" real estate transactions between me and the listing broker if I choose to use him. 

Nothing shady here Mike. The broker represents his seller ethically and professionally as he should. My deal is simply a commission reduction on the "re-selling" of the flips. It has nothing to do with the seller. 

I absolutely disagree, it's extremely sustainable. You're an agent so I will defer to you and how you'd personally react. You know yourself that you can't get emotionally wrapped up in these transactions. 

My "LOI" states that we are real estate investors and know the offer is low. Please email or call us back with any questions. We aren't trying to be insulting to your client or waste your time. We offer a very valuable service to sellers that want to close fast for cash or simply want to just get the house sold for any other reason.

Some will get upset, but surely you'd agree that as an agent, you can't control the monetary size of the offers submitted whether it's an investor or anyone else looking for a deal. 

So would you get equally upset towards a first time home buyer looking for a deal? 

I never said it's the most effective way to find deals, as there is no one "best way", I simply wanted to help any other investor that needed a cheap way to generate leads.