All Forum Posts by: Karl Krentzel

Great question!

"A quick nickel is better than a long dime." 

Have a Powerful Sales Day! 

Perfect!  Then what I would do is the following...

1.  Double check if it's their equity, that would disallow them from taking your offer.

2.  Double check their motivation. You can't want it more than they do.

3.  If they are truly overpriced, and will not listen to the merits of your offer, then give their number and pertinent info to a Realtor® you trust as a referral.  Do not ask for any money in return for the lead (as it is useless to you).  

Instead, ask that in the future, they simply help you out with some comps on a subdivision or advice in the future.  Build a relationship of trust with that Realtor® by feeding them those leads you cannot use in exchange for help.

Have a Powerful Sales Day! 

When you say "Bad"... that could mean many things.  I'll take a stab at a couple probabilities...

1.  They want too much, over priced,  not enough equity?   Send to Realtor®

2.  They aren't motivated enough.  Ask more questions.  Be sure.

3.  They are someone you had to cancel. Say you are sorry and move on! 

Hope it helps!  

Have a Powerful Sales Day!

I love that question!  

I personally give back and do my podcast and blog because I remember EXACTLY what it was like when I started out 18 years ago.  

My original broker told me "Here's your desk, here's your phone, here's the phonebook, you're on your own."

I had to learn everything from the ground up.  I swore to myself that if I ever got in the position to help someone else so they wouldn't have to do it, I would.  

Today, due to technology, I can share my passion for teaching, technology, and real estate. I can share my knowledge, experience, and interviews with others to people I will probably never meet, yet will benefit from my experience.

To me, as a 45 year old guy, knowing that my YouTube videos, and blogs, and podcasts will most likely survive much longer than I will, that gives me a sense of "fulfilling that promise."

Thanks for that insightful question!

Have a Powerful Sales Day! 

Karl Krentzel aka "John Ashley" 

 I hear what you are saying! 

I know because that is what many of my listeners on my podcast have told me.  The truth is, you are right.  99% of trainers out there today are preaching the same old tired gospel of direct mail.

The rationale is easy to understand.  It is low rejection.  You have no rejection, therefore you keep on mailing and mailing and mailing away, until your last dollar is gone.  Oh sure, you get some rejection when you have a person call you back and yell perhaps, or maybe tell you no when you make an offer; but heavy sales-type rejection, you don't get any.

One thing they don't tell you is the truth about what it takes to be successful in Real Estate.  There are two ways to get business.  Active, or Passive.  Passive marketing (direct mail, etc) you are waiting for them to react to your advertisement. 

Active marketing however, is where you take control, and actively pursue a customer (Door knocking, calling for sale by owners, calling for rent by owners, calling expired listings, calling your centers of influence, calling cancelled listings and more)

Passive marketing has virtually no rejection.  That's where they hook you.

Active marketing has tons of rejection.  That's why they don't teach it.

Active marketing however, will get you paid faster than passive marketing.

Sorry for the long post, but I felt compelled to answer this post.  If your absentee owner list is getting pounded... may I suggest calling FSBOS, Expired, FRBO, Cancelled Listings, and your COI?  

Guaranteed you will find a hot prospect out of those if you try! 

Have a Powerful Sales Day!

p.s. BTW, I forgot to mention... the Active Marketing.... It's generally free.  Sorry I forgot to mention that!

Kudos to you for reaching out and getting some advice!

Speaking as a Broker/Investor for 18 years with TONS of experience as a listing agent, I can speak from experience on this!

Some of the questions I would probably ask...

Are you a full time, or part time agent?

What experience do you have or what type of sales training do you have?

Are you personally going to be handling my listing, or will it be handled by someone else?

How often will you report to me the results of your activities?

"Which is more important to you (Mr./Mrs. Agent), that you get the highest price for my property or that you get it sold?"

"What are some of the active steps you will take to sell my property?  I assume you will have an Internet presence for my home...  But tell me specifically what will you do to actively prospect for a buyer for my property?"

 I think if you begin asking some of those questions, that will point you in the right direction about what you should ask.  

Key points of unsolicited advice... 

***You get what you pay for.  If the agent cannot defend his commission from you, how strong could he POSSIBLY be, defending you, and the price you set on your home?  

*** Strongly consider getting a contingency within the listing contract that allows for both parties (you and the listing agent) to review the progress of the sale of the property within a specified period of time (60-90 days).  At that meeting, reserve the right to unilaterally cancel the contract without cause or cost.  This will keep the agent honest.

*** Be honest with the agent. As a MAJORITY of sales on the MLS ultimately sell within 4-6% of the listing price, do not go crazy on your pricing "leaving room for negotiation." Deliberately overpricing your home will only slow it's sale, and result in a lower sales price.

*** If anything happens, communicate with your agent immediately.  "Communication Reduces Confusion."

**** If you want the agent to work twice as hard, "Compliments improve Competence"

Hope that helps you!

Have a Powerful Sales Day!

Welcome!  There are a lot of great resources on BP as well as many of the poster's websites you will see in their signature lines.. Check out some of the people you see on BP and you will discover a ton of great ideas! 

My personal opinion?  The best way to build a powerful buyers list is to generate a valuable product for them to buy.

I know it sounds trite, and almost "Which came first, the chicken or the egg?" but quite frankly, when you are going to get "The Barbie Doll Effect."  

The "Barbie Doll" effect is what you get when you ask a rehabber what they would want if you could find it.  They always describe the perfect thing.  

However, if you can find them something that isn't quite a "Barbie Doll", many times, they would take it. 

Therefore, it makes sense to find the "Barbie Dolls" as well as the "no name brand" doll.  

When you control the inventory, you control the market.

When you have a great property under contract, you will NEVER have a problem selling it if it is priced well.  

Just my two centavos my man!

Have a Powerful Sales Day!

I am sooooo glad you asked that! 

There are quite a few of us out there!  However, there are very few resources that speak the issues that affect Realtor® Investors.  

I have several resources available about this subject if you are interested! 

Have a Powerful Sales Day! 

I am sooooo glad you asked this question!  It is such a common one!  

So common in fact that I wrote about it in my blog a long time ago.  It's called 

"How to pick an Investor Friendly Company for Wholesaling!"

There are a ton of considerations to be aware of. Split vs. 100%... traditional vs. fee, you name it! How your E&O Insurance plays into this.. How to break it to your broker that you are assigning (and that they won't get any of it!) and more are just a few of the items that you need to be aware of.

There are no simple answers, but I did take quite a bit of time to outline a few in that blogpost on this very subject if you are interested! 

Speaking as an investing broker myself, I can appreciate your dilemma!  The good news is, there are no new problems, and everyone has been there at one point or another! 

Good luck! 

Have a Powerful Sales Day!