How To Beat Realtors When Shopping For Wholesale Properties
How can real estate investors shopping for wholesale properties beat out the competition from slick Realtors and agents?
Armed with their shiny corporate websites, glossy folders with wads of information on what marketing they will do and promises of getting incredibly high prices Realtors are even present, attempting to sabotage the efforts of those wholesaling properties. So how can you beat them and win over more sellers to have more inventory to flip?
What’s your rebuttal or argument? How do you get homeowners to sell to you versus listing properties on the MLS with an agent?
For a start those real estate investors wholesaling properties should hone in and point out the huge difference in listing a home for sale and selling right now. After all, if the goal is to sell and you are ready to buy, why would they want to add an extra step? Or worse end up having you buy the home through their agent in 6 months, resulting in the homeowner receiving far less in net proceeds?
Then of course there are the significant commission costs and holding costs which add up daily, continually driving down how much a homeowner will put in their pocket at the end of the day. Who knows when a buyer will come or how long it will take to close once one does, if they do? Does the seller really have that much time? Classic ploys of agents include telling sellers that they already have a database of buyers or that they have buyers already interested in their homes. If that was true they could just present an offer and a commission agreement versus listing it.
Then there are all of the hassles of preparing and being available for impromptu showings, negotiating and vetting future buyers and hoping their loan applications pull through.
If homeowners are really motivated they should want to sell fast, sell now, and should look at the net proceeds available now, not gambling on what could be.
Wholesalers should also point out the other dangers of holding on to a property for too long including man-made and natural disasters, lenders speeding up foreclosures, the looming end of tax breaks on short sales, code violations, neighbors devaluing the community when foreclosed on or painting homes wild colors, home owners associations going broke and new mortgage rules that will restrict more potential buyers even further.
Presented right, the choice to sell now versus listing with an agent should be a no-brainer.
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