Unlock Pocket Listings: Master Agent Conversations!

Have you wanted to know how to work with real estate agents, but you don't know how to have that conversation? Check out this call I just had of this pocket listing that I got and how I'm navigating this to go see the house and make an offer to the seller. Hey, sorry about that. I was on the other line when you called back. Do you have time to talk now?

Yes, I do.

Okay. Yeah, yeah. I was just saying thanks for reaching back out to me and wanted to see if if the situation changed from the last time we talked about it. I think he said he wanted to do the roof or something like that, right?

Yeah, he was going to do the roof and then he's getting bids now on it. And I'm just at the point where I'm like, let's just see if we can get somebody in and give an offer and see where we're at. So yeah, I'm going to try to do that.

Yeah, that's a great idea. I think if he can see realistically, like what would make sense for a flipper.

Right.

Like, and he can say, okay, hey, this doesn't make sense for me, or it does, you know, then it might be easy for him to know what, what option to go with.

Right, right, right.

Okay.

That's what, that's what, yeah, that's what I thought. And I just thought I'm just going to call you back because I just feel like we were trying to get all these bids and all this stuff and we just got to get him out of here. His health isn't going well and his son's coming down this weekend and he's going to try and get him out.

Right.

So that's why I'm like, Hey, let's just see what you have to offer.

Of course. Yeah. Does he— has he considered— so there's obviously a cash offer where he's completely like doesn't have to worry about anything, but those usually come in pretty low, I think. I don't know if you know that, but cash offers, they have to include like the rehab and all that stuff. So people are usually kind of shocked at how low they are, but it's just because it includes all the expenses, the hard money costs or the carrying costs. But has he considered like partnering potentially with a like a a flipper that, you know, they can do the deal? Well, I'd have to explain a little bit more in depth, but they pretty much partner together and do the flip while he's there. Is that an option?

He hasn't even thought that direction yet.

Okay.

But I think after his son gets here, I'm going to try and talk him into that.

Okay.

Because I just don't honestly— like, he thinks he's going to get so much money out of it, and he's going to see that he's not going to. And if I just listed it, I mean, it won't go interested, Jay, with the roof at all. You know, and so you'd have to put the money in to do the roof, and he doesn't have the money to do the roof.

So if he worked with someone that maybe did, and you know, obviously there was benefits to someone that was willing to take that risk and do that work.

Yeah, and they, yesterday, they're like, we don't want to take that risk.

You said someone said that? You said someone was, he asked that of someone, they didn't want to take that risk, like someone to pay for it?

Yeah, they were actually going to go do the roof, and then just get it out of the equity. But they were like, I don't know, this might be just too much. It'd be better if we just bought it. So they're kind of thinking like you are, just like the flipping thing. But you called me first, so I came back to you first.

Oh, thank you. I appreciate that. And that was another flipper, I'm assuming?

Well, they don't usually do flips, but he was willing to do a flip on it.

Yeah. Oh, gotcha. Okay.

He's a contractor that was going to do the roof. And then he's like, I'd rather just buy it and fix it up.

Yeah, for sure. Did he— did he— did he— okay, did he get a chance to make an offer? I'm just curious, like, if he threw one out anyway, like, to buy it.

No, no, he didn't really. He said he'd have to look and, you know, kind of figure it out. And that's what he said as of last night.

Gotcha.

He hasn't got back to me yet, and I just thought, well, if we're going that direction, we're gonna just do that, then I might as well call you back.

Yeah, of course. Okay, so I'm in Arizona right now, and I'll be back Saturday, like, afternoon and morning. So I could— if— is it okay if I come like Monday or Tuesday? Well, actually Tuesday is actually would be better for me if that's the soonest I'd probably be able to go if that's not too late.

Tuesday would be fine. See what I have on Tuesday. What time are you thinking?

Let me pull up my— It'd have to be what?

I have appointments in the afternoon, so I don't know how it would be like. How would 11 be?

11 o'clock. I can do 11 o'clock.

Yeah, I just have to be back by 1.

11 o'clock would work good. Okay, it probably shouldn't take that, you know, because I have an appointment at 12, so it probably, probably won't take that long to just go there and check it out.

So, okay, okay, let's go do that.

What's your—

set it up with— but let's— and I'll confirm, but yeah, let's just go ahead and find out.

Okay, perfect. And can you give me the address just one more time so I can put on my calendar?

Yes, it's 774 East Okay.

Did you say Jepson?

Uh-huh. J-E-P-S-O-N. Okay.

And it's Milk— is it Mill Creek?

Yeah, it's under Salt Lake City. Okay.

Okay. Salt Lake City. Cool. Well, I'll plan on being there and you can text me if there's anything, you know, different that happens. But, you know, I can go. I also like to kind of present the options. Like, I bring my laptop and just say, hey, like, these are the options that I can buy the house and, you know, tell me what you're thinking. Just so he knows, you know, if he wants to work with an investor, It's not just always a cash offer. There's multiple things we can do and see if, you know, what he's open to.

Okay, that sounds great. And that will be good because his son will be down here and I know he just wants to get it over and done with. So he might look at that option a lot faster than how he was originally looking at it.

Yeah. And I'm curious, like, what are you thinking about the market as of right now? I like to ask every agent I talk to just because it's, you know, everybody's kind of seeing different things. Are you seeing, like, yeah, I guess what are you seeing right now?

Well, not a whole lot of movement.

Yeah.

You know, it just seems like everything's just kind of really slow right now and prices are kind of stable. They're not really— they're definitely not going up.

Yeah.

But there's not a lot of inventory, so it's like we're not really seeing them really go down either unless they've been on the market for a long time.

Exactly. Yeah, it's interesting. It's kind of interesting as a flipper to speculate, like, is it going to go up? Is it going to go down? You know, because you want to make sure you buy.

South Carolina, and he's like, he has a great house. And I go, oh, your house will sell fast. He's like, I hope so, because I'm building. And he's not giving anything. And I'm like, I'm surprised. I was really surprised.

So, wow. And that's in South Carolina, you said?

Yeah, it's also location too, you know.

Of course. Yeah. Okay, well, I really appreciate your time. Is there anything else you want to run by me or chat about?

Not that I can think of right off. I'll probably have more questions when we're together there, so—

Okay.

I'll try to think of what I need to ask you then.

Okay, well, uh, look, I look forward to meeting you. And, uh, so again, just— we have 11 o'clock next Tuesday.

11 o'clock next Tuesday, yeah.

All right, have a great night. Thank you.

Okay, you too. Thanks, Nathan. Yep, bye. Bye-bye.

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Mm-hmm.