Home Buying in Taos>Question Details

Erik Overn, Home Buyer in Albuquerque, NM

Are there any "investor friendly" agents in Taos?

Asked by Erik Overn, Albuquerque, NM Fri Aug 12, 2011

Are you a new agent or struggling agent. Want to try something different? Must have a "Can Do" attitude, be willing to provide MLS Market Data and submit low cash offers. Are you my new Super Agent?

0 votes Share Flag Home Buying in Taos

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Mark Fleysher’s answer
Erik, there's nothing special about your extra low cash offers that are going to help you get discounted properties.

There might be a lot of bank owned properties and short sales, but there are also a lot of buyers today. Vegas is like 50% cash purchases at current fair market prices. The people buying legit properties at or slightly below fair market are the people who will get the properties, and rent or hold them....

People who waste our time offering 80% of fair market are doing just that... wasting time. I have clients who buy millions of dollars of properties, they do so at fair market, and they are very happy.

I've tried working with 3 or 4 clients offering low ball offers, and the sellers simply come back with a WTF? and No. Not a counter, a bad attitude and a negative look at me.

If you want to save yourself some money, get a license yourself, and go work the auctions. Good luck.
2 votes Thank Flag Link Thu Aug 18, 2011
Why would you want to use a new or struggling agent? Do yourself a favor and find an experieinced agent to assist you while you bottom fish.
1 vote Thank Flag Link Fri Aug 12, 2011
Minimum of twenty-five characters to say "Following up."
0 votes Thank Flag Link Mon Aug 22, 2011
Hi Erik,

I've checked my inbox, and I don't have anything from you...
0 votes Thank Flag Link Mon Aug 22, 2011

Your mouth is connected to your brain. You are awesome.

You win.

Check your inbox.

0 votes Thank Flag Link Sun Aug 21, 2011

Vegas is the extreme Market; number one place to buy, most foreclosures and short sales, and thus, a great example and experience for the rest of the nation.

Why would you get a license?

So you can make money, instead of pay someone else... So you know what you're doing when you're buying and reselling, and so you don't pay commissions to someone else... it's a deep process, so the point of getting a license is to be legally comfortable that you are able to buy and sell, and keep that profit that would otherwise go to an agent or attorney.

You might think auctions are easy... buyer beware.

I say get a license so when you buy you can deduct 3% from not having to pay a commission and then when you resell you can save up to 6%... that's huge.

Plus... why not take a look at Vegas, best place in the world to buy, today... according to Trulia and many other sources.

0 votes Thank Flag Link Fri Aug 19, 2011

Taos is in New Mexico. What do market conditions in Las Vegas NV have to do with anything here?

Why would I get a license to go to an auction? An RE license isn't necessary to bid at an auction.

I asked if there are any investor friendly agents in Taos. I didn't ask if there were agents that want to troll at me from NV.
0 votes Thank Flag Link Fri Aug 19, 2011
This is a proven strategy that people I know personally are using with great success. I'm looking for a struggling agent because they will likely be willing to try something new and not be so narrow-minded.
0 votes Thank Flag Link Fri Aug 12, 2011
What your asking for is a tough sell to an agent. I work with several investors and our sucess rate for purchases is about 1 out of 5 contracts. Some investors who I have worked with have been watching to much cable TV they have a warped sense of what they can offer and have accepted. After a couple of meetings I find its not a good fit and we part ways. There are "loose rules" in the REO marketplace and after writing over a 100 contract submissions I have seen some trends in offering and acceptance. Any agent can see the mls data but can they find the deal that will be accepted. I never do short sales, the investor is allways upset at the nonperforance of banks. Remember banks have a plan, they have very bright people working for them I have seen no offers accepted at a 20% reduction in listed price unless several offers have been submitted. They will usually wait 15 to 30 days reduce the price 10% and try to draw in several offers then sell the home. Good Luck
Web Reference: http://www.randshomes.com
0 votes Thank Flag Link Fri Aug 12, 2011
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