Should I talk to Real Estate Agents?
Yes!! This is the simple and straightforward answer but look I get it, you might be thinking…”I’m trying to find motivated sellers so how can an agent help me?” I understand where you’re coming from because I was the same way, but the fact is we can’t reach every single seller in our market at the right time, and a lot of people still default to working with an agent even though they’re a great lead for an investor. Well if you have been staying on the forefront of this agents mind, when the seller contacts them they’ll think, “I know someone who would be interested in this!” and they’ll give you a call.
But here’s the thing, you’re not going to get rich off working with only one agent. AT BEST you might get 2-3 leads a year from a single agent, but if those 2 deals make you $10,000 each is it worth it to stay in touch to make $20,000? I think so! So what do we do then…? We reach out to and stay in touch with as many agents as possible and here’s how I do it.
I suggest starting with 50, I know it sounds like a lot but I’m about to make it really simple. 5 days in a working week, 50 agents…10 agents a day. That’s it! I suggest calling the first time to introduce yourself and see if they ever come across deals that would be good for an investor. But after you have a solid list of 50 agents, separate them into 5 groups: Monday/Tuesday/Wednesday/etc. and text them once a week just to see if they have something new and to stay on their mind. You never know when they’ll get that one lead or listing and need an investor to step in!