Home Buying in Phoenix>Question Details

Staylor, Home Buyer in Phoenix, AZ

Looking for an agent that wants to be part of my team. Must be able to Think A Little Different & not be embarrassed to submit low offers.

Asked by Staylor, Phoenix, AZ Fri Aug 26, 2011

Is that you? If so, please contact ttgi.re.1@gmail.com

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28
Dear Staylor... don't get too disheartened by what you are reading here. Most of the agents who participate on Trulia are full time Realtors with 10 to 20+ years of experience, spend 2000-3000 hours a year working and studying the market.

Luckily for you the Arizona Department of Real Estate does not require an agent to have a GED or any experience what so ever to obtain a real estate license. Therefore there are probably several thousand agents out there who know nothing about the real estate market and will delight in helping you.
6 votes Thank Flag Link Fri Aug 26, 2011
Staylor,

I'll be your agent for 30 days for a non-refundable retainer fee of $6,000 (Buyer-Broker agreement required).
3 votes Thank Flag Link Thu Sep 15, 2011
Excuse me, you team with us, not the other way!
2 votes Thank Flag Link Wed Sep 7, 2011
It's to keep score:
I think we ended up with 3 - 17 - 3
but that doesn't add up to 27.

Staylor, you got 3 anyway.
1 vote Thank Flag Link Wed Sep 21, 2011
I'm in total agreement with The Urban Team and most others. Rather than beat a dead horse, let's just consider the kind of realtor you're looking for. If that realtor has both the experience to be creatively different and the nuts to drop dozens or hundreds of low-ball offers for a profitable deal, why would she work with you? A savvy realtor like that would just swing the deal and arrange for financing herself. Then, what would you bring to the team?
Web Reference: http://www.archershomes.com
1 vote Thank Flag Link Tue Sep 20, 2011
Some agents have submitted up to 100 offers before getting 1 accepted. If you have the time, Good luck.
1 vote Thank Flag Link Sun Sep 18, 2011
Paul Welden's the man with his thinking cap on!
1 vote Thank Flag Link Thu Sep 15, 2011
Applaud for the great answer by The Urban Team. The question should of been who wants to waste time with low-ball offers, or a little more creatively put (for seasoned low ballers)
Web Reference: http://hericsontorres.com
1 vote Thank Flag Link Sun Sep 4, 2011
It wasn't even a great plan in 2007, as a lot of Realtors can attest:

We submitted a lot of OFFERS that went nowhere,
We didn't even get call backs for BEST AND FINAL.

The Banks have been PRICING very deliberately lately, and they don't get insulted, they just don't respond.
1 vote Thank Flag Link Fri Aug 26, 2011
Good luck finding the right person.
0 votes Thank Flag Link Wed Sep 21, 2011
Hey Staylor, keep seaching until you find the right one. I've got an agent who is an absolute rockstar. What YOU bring to the table are cash buyers who can close in 7 days (this type of list takes some work to build, but YOU have it, not the realtor... and they haven't done the work to get it). All you'll be asking them to do is submit some offers. You're not asking them to drive around all day showing properties.

And trust me, after you've closed several deals in a single month several of the same agents who weren't interested in doing business with you will be trying to solicit your business. And, when you find the right agent... you'll know.
0 votes Thank Flag Link Wed Sep 21, 2011
Staylor

If you are willing to PAY $1000 CASH EMD and PAY the Realtor $1000 for each offer, go for it.

Asking the Realtor to Write and submit many offers without payment In advance or only on commission, is not worth the time of the Realtor.

We hear stories about how "Big Time Investors" do this all the time, but when We ask the investor to see all the contracts, and the HUD 1 closing statements of all the properties they bought, these so called big investors come up short.

Investors also must know about what is called "Dealer Status." Read my blog below about Dealer Status for Real Estate Investors.
0 votes Thank Flag Link Wed Sep 21, 2011
I think it's funny seeing all the responses and saying it doesn't or won't work. Here in San Antonio tx people are building teams like this all day long and making a ton of money in doing so. As long as you can organize and keep doing the heavy lifting of the phones you are successful. Look at furtune builders. The guys off of flip this house(than) is a prime example. Processes in place+a good team+ some cash= unlimited potential of wealth. Good luck in Arizona.and for all the doubters and downers, these are the people who are protecting you from your precious ready to go homes from losing value, because they are taking the ugly and making them beautiful again, so thank your local wholeseller or flipper next time you see them!
0 votes Thank Flag Link Tue Sep 20, 2011
ARE YOU SAYING YOU WANT A PRICE YOU ARE HAPPY WITH, SOUND BETTER THEN WHAT YOU SAID. LOL. RESPECT THE GAME, OR DONT PLAY, RENT!!!!!
0 votes Thank Flag Link Sun Sep 18, 2011
I have a suggestion. You could walk around your neighborhood knocking on doors and submit your low-ball offers without an agent. And to make things really different, try using a crayon.
0 votes Thank Flag Link Sat Sep 17, 2011
Hi Staylor,

Submitting "low offers" wont get you anywhere. Typically, the homes get multiple offers over the asking price, even the dirt cheap ones.

Best of luck
0 votes Thank Flag Link Thu Sep 15, 2011
I am reminded of the mouse running up the leg of the elephant:

I wish you luck; you are certainly going to need it.
0 votes Thank Flag Link Wed Sep 7, 2011
Typical amateur working at their best..

Investor Mike
Gilbert, AZ
0 votes Thank Flag Link Sat Sep 3, 2011
Hi Staylor,
Please tell me more about your idea and the team you're building. I may be interested.
Eve
0 votes Thank Flag Link Fri Sep 2, 2011
Hi Staylor:

One other thing you might want to do for a successful home purchase is to get prequalified. This would let you know the loan amount that you can be qualified. This would help you in negotiation. Moreover, you would need a prequalification letter to submit your offer.
0 votes Thank Flag Link Mon Aug 29, 2011
As a listing agent on our Trustee acquired fix-n-flips (which are heads and tails above others in quality when we are done) we often use a strategy that requires the Buyer to sign something called an "Additional Clause" Addendum. The buyer checks the box that says "earnest money non-refundable after inspection period (unless seller can not deliver, i.e., house burned down) and also the box that says "Buyer to pay any amount over appraisal to meet sale price". And just about every home I sell is the new record price per SF in that subdivision.
So that pretty much exemplifies the fact my world doesn't include low offers, at least the ones that aren't in the trash.
And as a home Buyer (as you are listed), you should also know this. If a home is a steal or virtual give away, do you know who buys that home? Yep, the Realtor. If not the Realtor, his family. If not his family, his friends!
I would suggest you acquiring a real estate license so you can pursue those "deals"
0 votes Thank Flag Link Fri Aug 26, 2011
As you can see your strategy will probably not work, especially on this market. But I am just curios, in case we are missing something. What kind of team do you have? What do you mean by "to Think A Little Different"? What do you call a low offer? Will that be 10% under asking price or 50% under asking price? On either case that might not be a winning strategy when many properties are going at or over asking price within days of being listed.
0 votes Thank Flag Link Fri Aug 26, 2011
That was a great plan.....in 2007. Its officially a sellers market everyone! If you know the market you would know that most prices of distressed homes are at or below market value and are selling within a few days of being on market if priced correctly. So you actually need to start bidding at or over asking price. If you actually want to purchase a home feel free to contact me and I can show you how to bid at value rather than based off list price.

If not, at least use email offers so you dont kill too many trees on low balls offers.
Web Reference: http://www.brianrocca.com
0 votes Thank Flag Link Fri Aug 26, 2011
I hope you have cash to purchase. If not you’ll embarrass yourself. You won’t get anything more than 15% off listed price. Almost all bargain properties now are foreclosures. Probably every single one is a foreclosure. So you’re dealing with a bank not a human. If you offer anything less 15% banks will laugh in your face.

Banks are predictable with price drops like clockwork. They have a price drop every 7 days, every 2 weeks to monthly. Sometimes every 6 weeks or every day. It’s like dealing with a robot. You can offer $65K on a property on Wednesday that is listed for $75K and they might say no. 5 days later on Monday they can reduce the price to $65K and forget about your bid just a few days ago. You’re dealing with robots machines. So start thinking like one. Have you seen the” MATRIX?” Humans are smarter than machines remember that line? So don’t be an amateur. Get out there and kick ass.

What matters the most is not only are you wasting realtor’s time? You are wasting your time. And investing in real estate time is more important than money.

Investor Mike
Gilbert, AZ
0 votes Thank Flag Link Fri Aug 26, 2011
Sounds like another investor get rich seminar approach. A great way to waste a lot of time. You may want to work with someone like Chris Eymann who buys homes at trustee sale. More likely to find the success you are hoping to achieve. Chris can be contacted at chris@sellwholesalehouses.com.
0 votes Thank Flag Link Fri Aug 26, 2011
Staylor

I don't think most agents are embarrassed to submit any offer. They may advise you otherwise at times depending upon the activity a home is generating (such as multiple offers). Have you been working with an agent and are you having difficulties? Are you an investor or a home buyer looking for your own home? Many investors are making offers on low priced homes that are over asking price and still not getting them. So this will depend on the home and the price range...

Kindest Regards,

Brenda

Ron & Brenda Cunningham
602-980-3133
*** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ***
0 votes Thank Flag Link Fri Aug 26, 2011
LOL - and who are the other members of your "team"??
0 votes Thank Flag Link Fri Aug 26, 2011
Wow. Good luck with that! It sounds so attractive...
0 votes Thank Flag Link Fri Aug 26, 2011
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