Most agents want a 6 month contract; I recommend creating a sense of urgency by reducing that term significantly. 

No urgency and no effort to shop for good prices.

There wasn't much room for negotiation and the seller took advantage of my sense of urgency.5.

I think due to the blanket nature of the marketing scheme, we're getting a lot of cold leads without urgency or significant motivation asking for market price or over market price.

I know we Realtors sound like broken records to all you investors, but honestly - your best bet in finding REO homes is with a buyers agent that represents your best interests (and your best interest alone), has a high sense of urgency and understands the REO process completely.

Your letter gets them to feel the urgency of the situation, and the other guy is saying "I'm here to help," so they call him.

If you don't provide them with a sense of urgency, they will take their time.

Thanks John, I'm really just not getting any sense of urgency on the realtors part, I admit I am new at this and want to get off the sidelines so to speak.

So you have to look at the urgency on the deal to figure out which is the best option.

The net result is that inside of 10 minutes you'll probably have a good gauge on competence and urgency.