What Am I Doing Wrong? Need Advice.
I just joined an international investment finder association where people advertise with us properties that they have for sale, and we in turn help them find them. If we find a buyer for a property, we will earn a finder's fee. Sometimes I search real estate websites (like
Market ICI World,****Must Reach Senior Investor status before posting URL's*** ) and I find brokers who have buyers who might be interested in some of the properties that we advertise. So I send the broker the brief letter below. I am not having any success. Someone please tell me why I am not getting any replies from brokers. What am I doing wrong? Please reply to **Please See My Profile**
Thank you.
************
Mr. John Doe
I work with FIIFA (First International Investment Finders Association) where people advertise with us properties that they have for sell ,and we in turn find buyers for them.
I noticed message #00000 on the Market ICI World website where your buyers "WANT CAMPGROUND AND/OR TRAILER PARK AND/OR FISHING LODGE". We have sellers who have advertised those very properties. Mr. Doe, is it possible that our seller can be introduced to your buyer? Please let me know. Below are links to properties on our website that you buyer may be interested in.
(I insert the links here).
Mr. Doe, please let me know if your buyer can be introduced to our seller. Thank you.
Best Regards,
Beverly Johnson
FIIFA Investment Finder
You may want to mention that you pay a fee to them.
Have you tried contacting any personally?
Not only for resposne to your properties, but feedback on your letter
Try a new letter.
Mr. Doe,
I recently sent to you a letter in which I offered to introduce my sellers to your buyers.
I recieved no response to my letter and I would like to know that it has been recieved. If this letter has been recieved, would you please help me to be more effective in the future by helping me to understand why that letter did not create a response?
I am fairly new in the business and would really appreciate your help in this area.
Sincerely,
YOURNAME
and attach a copy of the letter.
What have you got to lose? They can't throw you in letter jail. Worst case, you spend another $.40 and get no response. The best case, this guy either 1) gives you a good critiquing or 2) apologizes for not recieving your first letter and gives you the listing.
What the heck?
Maybe you should include a SASE.
Good luck
Ronnie[ Edited by mussetter on Date 09/11/2003 ]
Do you have a real estate license? are you trying to get a commision for connecting the buyer and seller together?
64Ford, Mussetter, and RealtorDave...
Thank you all for your very helpful advice.
To 64Ford yes I have tried contacting them by email and I have
received no response. I modified my letter and explained that
they will NOT have to share their standard 3% commission with
anyone. I will be paid a reward by the seller. I have gotten
some replies from agents/brokers who told me that they multiple
listing services, etc that they use to find properties. "No thanks"
they say. I don't understand why they balk at showing the properties
to their buyers since they have been working to find properties for
some of their buyers since 1999. Then again one broker told me lots of
brokers know about FIIFA and they have past negative experiences with the
president of the company. Oh well.
Mussetter, thank you for your suggestion on using a follow-up email.
I will use your sample letter and see what happens.
RealtorDave, no I don't have a real estate license. I am not being
paid a commission. The realtor gets paid his full commission by the seller
and he will not have to share it with anyone. I will be paid a reward by
the seller as compensation for finding him a buyer.
I looked at the website. It may be the $150 fee to have the item advertised that is the turn off.
I'm the type of guy that talks to everyone about realestate.
I got 45 call just this weekend from my owner finance bandit signs.
I talk to realtors and morgage brokers alike. Ocationally some of the "pro's" understand or are interested. For the most part they don't and arn't.
Traditional people like traditional methods.
The few realtors I know I met years ago when they were starting out. It's a rare day I find these people want to get involved with what they don't know or understand.
64Ford...One of the duties of FIIFA members is to see if brokers/agents
want to advertise their properties on the website, and yes there is a
$150 fee. The advertising service used to be free, but this fee was
recently imposed to prevent people from listing fake advertisements.
Yes some people did this. Why? I don't know.
Another duty of FIIFA members is to find buyers for properties listed.
There is NO charge for this. If a broker has a buyer who is looking to
buy an office building in Tampa, Florida and if we have those types
of listings available on our website, the broker has NOTHING to lose.
If the broker introduces his buyer to our seller and a deal is made, he
will make his full commission from the seller which he does NOT have
to share with anyone. I will earn compensation from the seller as a
reward for finding a buyer for him. The broker does NOT pay me, so I
don't see why they hesitate. They won't have to worry about losing their
license since they won't be paying me anything...the seller pays me.
DavidBrowne...I believe you are right. It seems that traditional brokers
want to do things the traditional way. They don't want to get involved
with what they don't know or understand. If the brokers would just think about it,
they are being offered an opportunity to get a commission and everyone
gets what they want. The seller gets his property sold, the buyer gets
the property that he wants,the broker gets his full commission from the seller,
and the finder gets his reward from the seller. But brokers seem to want
to stick to using their MLS and other traditional methods. Oh well.
I am not sure how it works in fl, but if you get compensation or reward for finding a buyer, thats acting in the capacity of a licensed agent. it is a grey area. I know in this state that would be a criminal act and could be pursued by the mrec. and 3% seems low for a commercial deal. I am just trying to help....