Getting RE Agents to Send You An Expired Listngs List?
Here is a letter I use to attract RE Agents to fax and/or email me newly expired MLS listings leads.
Eventhough you don't have to models your letters like this one...Mines specifically calls for using land trusts to hold ttle to your deals!!
I hope it helps you make a ton of cash!!!
Best of Good Fortune to You All!
Derrick Ali
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Dear Real Estate Sales Pro:
My name is Derrick Ali, I am a real state investor located in Jackson Michigan. And if you give me just a moment of your time, I’d like to offer you a no cost method for obtaining a new listing or two each month.
Currently I am looking for an agent who knows and understands what I do. By working closely together we can obtain & close RE transactions much quicker than your competition currently is.
I exclusively concentrate my investing on pre-foreclosure homes; although this is profitable I am looking to expand efforts to expired listings. I am certain you are ware of the problems Brokers/Agents face colding calling these expireds due to the limitations and laws enacted by the “DO-NOT-CALL List.”
And THAT IS WERE I MAY BE ABLE TO ASSIST YOU THE MOST… in that I can do a the necessary research, follow-up and appointment setting, etc. all above board and without complicated RESPA, HUD, or FTC violations.
I am in search of working with an agent who wants me as a client because I can show them exactly how they can profit from our relationship. I am a client that this will produce a significant income for the RE Agents I work with.
To begin I would like to gain an hour or so of your time (Phone? Email? Meet Me?) in order to explain a little about how I acquire ownership interest in the properties you will have listed (via a Land Trust) and exactly why I’d like YOU to list them for the seller and me?
I am proposing that in exchange for a weekly list of freshly expired listings, I may be able to obtain for YOU a steady flow of new listings n return. Again, this is all above board and with no RESPA, HUD, nor FTC complications.
Whenever I do get an appointment with someone whose listing recently expired, I present the owner with a 2-Pronged approach to re-market their house.
I encourage them to re-list their home with another agent (YOU) to market it to "A" credit buyers (someone who can qualify for a loan) and at the same time let ME market it to "B-D” credit buyers with a Land Trust.
This approach will reach many more potential buyers than when it was just listed. To top things off YOU get a new listing!!!
Although I simply tell them that they can list it with any agent they choose, I don't care (but I really do) however, MY AGENT and I work together on these type of arrangements in order to help people sell their house more quickly (whether “A” Credit or Land Trust.)
Also I tell them that if they list it with anyone else there is a good chance that agent wouldn't understand what I’m attempting to accomplish and there would not be any synergy.
By having 2 people working together (My Agent and I) you’ll have a much more effective and faster way of selling your home than two working independently, blah, blah, blah....
If they are truly motivated to sell (and that’s the key!) this approach makes much more since that what anyone else is suggesting.
I obtain a non-exclusive option to buy the home and YOU GET THE LISTING AGREEMENT at the same time.
May the best person win!
If this truly interests you, and you’d like to learn more about how to obtain a new listing or two every month simply by faxing or emailing me a list of fresh expireds, then please contact me right away to formally arrange our business relationship.
(REMEMBER: I make all of the cold calling, co-marketing appointments, etc., AT ABSOLUTELY NO RISK TO YOU Nor Your BROKER);
Once again I'd like to thank you for your valuable time.
Professionally Yours,
Derrick Ali
Before sending any letter, to anyone - check it for grammatical and spelling errors.
If one choses to cut&paste then send the letter in this article USE Spellcheck!
BTW- Sportstrader I Take 'Grammatical License' in my MARKETING LETTERS ---I only got an A-B average in English but Still got a BA in Marketing!(smile)
Derrick ('Typoist for Lyfe') Ali
Dear Mr. Derrick Ali,
To obtain a list of just expired Real Estate Exclusive Listings. I sit down at my desk, turn the computer on.Go the MLS,Web Site, write in a request for all expired listing last 7 days or whatever. I reach out carefully so as not to disturb the cat and I push a key marked Enter.
Suddenly as if by magic they pop up in front of me. I get out of my chair and go out to my cheap 1981 VW Diesel Pickup truck. I get in and drive to the first property. I ring the door bell, sometimes I just knock.
I inform the homeowner that inasmuch as her/him/its property has not sold I am here to buy it and I will pay them the full Real Market Price, minus of course the Brokerage Commission, the Escrow Costs, The title Costs and all the other crappy little items of expense, and oh yes how soon can he move and if he will get his coat we will go directly to escrow. The End, do not p***** go, do not collect the $200. There are variations, sometimes he drives.
Enough of this love talk Lucius
Could you provide me with the link to the MLS website? When I did a web search all of the links I found are for realtor sites and these don't have a link for expired listings.
Thanks.
wmatthe,
I have no idea whereat you are located and in what state. I suggest you pick up the phone call your local real estate agent that belongs to an MLS tell him what it is that you want and he will get it for you. After all he is plunking out over $300 a year just to get this information and I am sure he will want to give it to you.
Of course you can obtain this information yourself. It is very simple. You merely study for the license and take an examination which is very simple. You then go to work for a Realtor who is going to take half of your commission or more on every deal, and oh yes you will also be paying an MLS fee and I suggest you learn how to do the various searches for owners that do not live on the property. Ownerships that have not changed in 25 years or whatever you elect to search..
Of course you can shortcut all of this stuff by establishing a working relationship with a Realtor who has already gone thru all this stuff and has the equipment, knowledge and is probably tied into even more information that you may have only dreamed about. Thats the smart way.
You might offer in exchange for this information some sort of working arrangement. Like you might like him to help you sell some of the goodies that you have collected. Or you might let him help you with mortgages. After all he is probably right on top of the market.I could go on like this for some time. but I think you get my point.
Lucius
ALL:
If one choses to cut&paste then send the letter in this article USE Spellcheck!
Often I take 'Grammatical License' in my MARKETING LETTERS ---I only got an A-B average in English but Still got a BA in Marketing!(smile)
Derrick ('Typoist for Lyfe') Ali
Thanks a lot Derrick.
I certainly appreciate it!
Gary
Hi Derrick!
I'm a Realtor in the Atlanta, GA area & have recently joined The Creative Investor. I'd be glad to work with you if you'd like expireds from anywhere in the Metro Atlanta area...
Lamar Jarvis
Realtor / Trainer
Lamar,
I am looking for expired listings in Dekalb and Gwinnett counties.
If you can help email me or call 404-964-8783
Thanks.
This pertains to the response from Lucius--after you learn of expired listings, wouldn't you still only want to deal with the sellers with properties listed way below market value? If the realtor could not sell the property, why would you want to buy the property unless you were going to rent it for passive income. It seems that if you were willing to offer market value price minus the mentioned expenses, you would then become the motivated seller with a property that is not moving on the market.
It is of course in the final resolve only a series of leads.
Some were not sold due to improper marketing, some high listed. Which of course is also improper but the act of a Realtor desperate for listings. You must now speak the truth to the Seller, and in so doing reduce the price to what you would be willing to pay.
Assume I wish to buy property. I research the expired listing, comps, last sales 6 months.
I check condition of the house, needed repairs obsolete factors etc. etc. Then I go and talk to the Seller. I will bring the price way down or I will p***** on or I will football. (football a process of having the seller approached by different buyers or agents) and in the process the price will be reduced again.
In Deal Shop activity you take the expired listing and you may have three or four would be buyers talk to the Seller, each making a lowball bid, and then by absorbing expenses slowly reach the point of a sale and I mean way below the prior listed price.
It is a form of PsyWar with the end result the obtaining of the property at a price which will produce a profit on resale, or you may hold it for a grind out on a lease, or lease option and on and on.
I saw one the other day a scam on exit. Man bought the house with paper but decided that the price was still too high even on a grind out. So he rented it super cheap in exchange for six months rent at the reduced price and walked away.
We came into the transaction at the request of the Tenant in Possession. He wanted to buy it as the old Seller was upset. We worked it out for a small commission which was paid out in monthly payments extended over the next two years. We had all of the horizontals (plumbing ) replaced with copper, silver soldered, the hot water lines encased in insullation etc. We got that in payment of another debt for about one half the cost and billed it in part consideration at about 75% of true cost. See you get involved in all kind of secondary tasks.
About a year ago I ran on an expired listing. It was a 4 bedroom older house 1 bath and rather old fashioned.Not very salable. We finaly bought the house after considerable haggle. A plumber owed me some deferred commission so he inserted a new bath room. The house actualy sold from the crazy sign we put on the front lawn during construction.
"Elderly classic Victorian dwelling is having inserted a new secondary bathroom includes bidet and instructions for use. Crown moldings with Septers. Formal dining room can be used for study hall. See agent on premises Lucius
Its like fencing. First intention, Second intention and the final disengage lunge. Touch. Lucius
Lufos,
can you point me to your other post with the great examples of your ads you run? I've been laughing and telling others about them ever since, and promising I would find them again . . . I love them! It was the one where your kids quit doing it and then started again . .. or re-run that here? Pretty, pretty please?
Shelly in GA
Lufos, I have access to MLS and i like your idea of owners that have not changed in the past 25 years...however i cannot fint that as a "SEARCH CRITERIA" fields
B.G. & Wheeler D. LLc Inc.
A division of: Half Vast Enterprises
I do not believe that it is a specific item. I bend a lot in my MLS and also I have some
additional services for which I pay a little more.
My searches are tied to areas of the Thomas Guide. For example I will search a page of Thomas Guide then I will search absentee owners, then I will go to iprobe and search all properties Free and Clear, All properties no sales last 25 years. etc. etc. etc. I have been bending for so many years always looking for some helpful little avenues to explore to get information not in common use.
Data Quick is another source for absentee owners and titles with no recent sales.
Damar was the best but it is gone. I think it is now American Title Service.
But hang one I predict within 18 months there are going to be some really neat new services that will be available to the MLS. I know Retran is doing something. Of course they are expensive but just one deal and it is paid for.
I know I know nobody wants to take the license but why deny yourself all this good stuff. Of course the answer is the Deal Shop. The broker entity in the deal shop ties into everything that is available to the Realtors. Then he ties into the stuff they cannot get. Like appraisals etc. etc. Now Thats the way to go. There is an article I wrote coming out soon on that should be of interest. Seriously we all need every bit of information we can get. We need all the disciplines working in common purpose.We should be footballing. As a matter of fact I am footballing one in Georgia now. Hope he gets back to me.....
Hang in sooooon Lucius
So the MLS is the "not thinking outside the box" place for information it seems. surely you dont go knocking on all those doors though. do you do a mailer just brouse for stats as a hobby/
Yes it is true I check all the stats and I do some Cherry Picking of items I know or companies that I know or areas of great interest. I like the Hollywood Hills cause I have done a lot of building and I can almost recognize houses so I follow them.
Of course I cannot run on everything nor would I try. My basic daily runs which is about 4 to 6 a day is North Hollywood, close to home, Studio City. Hollywood Hills and the area 90069 which is West Hollywood. those I as they say heavy run. I bang on the doors and am in transaction of some kind or other some not for profit about one in four. The rest I just use for statistics. Unless there is a goodie that hangs out like a skeleton at a fat ladies convention.
34 units in forcl. FEMA loan 1994 Earthquake $!,250,000 (My value property right now $950,000) sold to little bank in Beal Texas.They bought it out of the non performing loan portfolio. payed are you ready for this a promissory note for 18% of the face!!! I mean thats political....Offered the bank 20% of the face, came back at 50% we came back 22%. Suddenly the note is brought current. George Ellis Local big time Ral Estate Broker has cured the foreclosure from his position as a second of $100,000 put on in 1998 for what I know not.. We are out of contention, cause now the bank have a current note. God has rewarded the politicaly correct. My phone rings it is you guessed Little George Ellis "Lucius, I hear you are active and would you like to take over an interesting management? Right on its the 34 unit. I have no Idea what is coming up. Tune in on Monday thats my appointment to go to the office of George Ellis. I do not have a clue. My appraisal is $950,000 and he brings current a $1,250,000 note? What is he smoking. Ah well thats LaLa land.
Lucius
Yes it is true I check all the stats and I do some Cherry Picking of items I know or companies that I know or areas of great interest. I like the Hollywood Hills cause I have done a lot of building and I can almost recognize houses so I follow them.
Of course I cannot run on everything nor would I try. My basic daily runs which is about 4 to 6 a day is North Hollywood, close to home, Studio City. Hollywood Hills and the area 90069 which is West Hollywood. those I as they say heavy run. I bang on the doors and am in transaction of some kind or other some not for profit about one in four. The rest I just use for statistics. Unless there is a goodie that hangs out like a skeleton at a fat ladies convention.
34 units in forcl. FEMA loan 1994 Earthquake $!,250,000 (My value property right now $950,000) sold to little bank in Beal Texas.They bought it out of the non performing loan portfolio. payed are you ready for this a promissory note for 18% of the face!!! I mean thats political....Offered the bank 20% of the face, came back at 50% we came back 22%. Suddenly the note is brought current. George Ellis Local big time Ral Estate Broker has cured the foreclosure from his position as a second of $100,000 put on in 1998 for what I know not.. We are out of contention, cause now the bank have a current note. God has rewarded the politicaly correct. My phone rings it is you guessed Little George Ellis "Lucius, I hear you are active and would you like to take over an interesting management? Right on its the 34 unit. I have no Idea what is coming up. Tune in on Monday thats my appointment to go to the office of George Ellis. I do not have a clue. My appraisal is $950,000 and he brings current a $1,250,000 note? What is he smoking. Ah well thats LaLa land.
Lucius
interesting did he bring the original note bac up to save his 2nd position from being extinguished at a forclosure sale you think?
You hit it that is what he did. Cost a fortune. If he had been smart just outbid us and pick up the first at the enormous discount and own the place for about $300,000.
NOw this is one of the oldest families in real estate in California. Ah how the mighty have fallen.
Strange!!! Lucius
Dear Shelly in GA,
God I wish I could, but I do not keep copies, you see what happens I am working away writing a stupid script for some failed movie star. Or I am editing a book that another highly challenged person is writing. And I stop and I swing onto TCI and I just answer most of the posting from somewhere above my left temple.
Like right now as you know I turned over all my goodies to my children and this tenant is sitting here and he is not going to go away unless I put in two faucets in his penthouse. Well my daughter is slacking, the manager is bombed and here he sits like a big child in his shorts, baseball hat and a look of extreme annoyance. Yes I will get up in a minute and go do it, but first I am answering your little post.
The real reason is that I think he has made an investment in a local lady to spend time at his penthouse and he wants to look good. Like she gives a damn if his faucet leaks.
You see you are in Ogelthorpes old coloney. He unloaded the debtor prisons and everybody came to Georgia. So you have some pretty well balanced people. Out here it is a little different.
If you find any of the items you want let me know I would love to look at them.again.
Off to fix his stupid faucets. Cheers Lucius
If anyone is interested in working with an agent in the Puget Sound area (Seattle/Bellevue/Everett etc) send me a private message. I'd be happy to talk.
- James