SIC 016: How to Work Relationships for Deals

-How to work relationships for more deals-

 

Oooohhh new microphone!

Joe: We know you are an expert at building relationships Julie, what great info do you have for us?

Julie: I’ll start with the simple stuff and continue to move to the juicier details!

#1) Agents!

Agents are a great source for deals. They know about deals before they’re on the market. They have a finger on the market, and can be a second set of eyes for your deals.

If you can provide something for the agent, like letting them list your properties, as they come on the market, an agent, is going to want to do a ton to help you out. The best way to pursue this is to make your agent aware that he/she is a vital part of your team. Making your agent feel special is going to be key to motivating them to want to work with you and provide you with the leading edge on what’s on the market. Agents are a great way to find deals and should be a vital part of your team.

• Treat them well
• Be super responsive
• Pay them for the work they do.

Think of having an agent for each criteria your trying to hit. Do you want an agent who is specializes on condos? Foreclosures, certain areas, etc.

Joe: What do you think is the right percentage to pay your agent?

Julie: As a broker, if an investor brings me a deal on the front end, I’ll do whatever it takes to get them that deal, because I know they are an investor and loyal enough to pay me on the backend. But, paying your agent a minimum of 2% will keep them working for you. They should be helping you on the front end, and on the back end.

Agents are one relationship you must have, since they are closest to the industry that we are in.

Talks on the PNW slang…. Californians always taking credit for the west coast slang. 😉

#2) Wholesalers. 

Wholesalers are people who focus their business on marketing for deals, tie a contract up, and then sell it to an investor for a fee.

Where you can meet wholesalers is going to your networking events, calling wholesaler signs, and getting on their mailing lists.

Dirty little secret – Wholesalers typically sell to the same 3 buyers continually. How do you get to the top of the food chain? Follow up with them! Let them know you are there.

Honk Honk Beep boop!

When a wholesaler does present you with a deal, BE PREPARED TO RESPOND QUICKLY.

Ninja Tip –  lots of wholesalers are brokers. bring them deals to list, that they didn’t bring you. Prove you can close, and display that to them. 

#3) Contractors – 

Contractors bring awesome Leads!

Get with your contractor and create a lead referral program where they provide you leads that they cannot close, and you sell to them for a flip. A whole business can be created just on this method alone.

                                               “It is more fun to work on a team” – Julie Clark 

Developing relationships to be the center of influence in your network…woa! ? 

***A comprehensive list of slang terms ;): Bomb, Dope, swag, Wicked, bad, dude, word, truth, Dawg, bruh, bro, sick, hella, rad, dude, tubular, buzzed, blown, jaded, PNW life! ***

Create Systems for your follow up & keeping in touch!  

Get your FU on!

#4) Hard money lenders

Lenders can help with a lot of buyer leads.

Connect buyer leads that you get from your lender, with your seller leads. Matchmaking!?

Have your lender call them first, and make sure they are qualified to purchase.

#5) Attorneys

Shout out to John Cochran! 

Create relationships with different types of Attorney’s in your area!

Probate attorneys, bankruptcy attorneys, Estate attorneys, eviction Attorneys, estate planning, etc.

Probate leads are the best leads that you can get! Find a probate attorney, wine and dine them, and be consistent about it!

#6)                                The golden nugget. Free leads, no competition!!

All the best leads are right under your nose!

The people that you know, or even don’t know! You’re already there! Let people know you are in Real Estate. Open your mouth and tell everyone you know that you are looking to purchase properties.

Leads that are in your sphere and are the least competitive leads that you can find!

Don’t be worried, just say it. You have nothing to lose.

If you are scared to open your mouth and tell people you’re in real estate, you’re in the wrong business.

                                                                   **have confidence** 

Keep track of how many people you tell, that you are in the market to buy properties.

Post on the bottom how many people per day you’re talking to about real estate!

In return….

Swag will be sent your way! 

Pop quiz: Where does Julie get most her deals from? The playground!

Other ideas: Church’s, Non- Profits, & charities.

Make a deal to get referrals and look to donate more back to the organization in return. I.E. every deal referred I will give 25% of my commission, etc.

Referrals are part of the Real Estate business.

Be Genuine.

The keys to creating relationships in your business is

• Follow up, follow up, Follow up
• Compensate, and provide something in return.
• Be creative and think of all the different connection you can make.
• Use your sphere!

   Thank you for tuning in Today!!!

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