Wholesale Real Estate With Realtors: Step-by-Step Guide

What's up? Welcome back to the channel. If you clicked on the video, you want to learn how to wholesale real estate with a realtor involved. Now, a lot of you might not know that you can wholesale real estate with a realtor. It does happen all the time on the MLS. You can wholesale deals that are listed. But if you don't know how to do it, I want to show you exactly on this step-by-step video how I showed one of my students to wholesale deals and build those relationships with realtors so you can do that. Before you can wholesale a deal on the MLS, you've got to build that relationship with the agent. You got to build that trust. So right here, we're going to talk about how to build those relationships with those agents so you can wholesale those deals in this video where I have it broken down. Let's dive right in. All right, everybody. I want to invite you before we dive into this video to my Facebook group. If you're looking for a community that's free where you could talk and network with other wholesalers, other investors, Go to Painless Flipping on Facebook. It's a free group. I'll let you in and it will help you through your real estate journey. I just want to throw it out there because I think it can help you. No, I know it can help you on your journey. So let's dive right into this video on how you can work with realtors and build those relationships so you can wholesale deals on the MLS.

This is the process when, when you set up your filters, Privy literally sends you all these deals overnight, right? You don't have to go look through hundreds of listings. They'll let you know these are the 5, 6, 7 properties that you need to look at. Then all you need to do, it only takes a minute or 2 minutes to take a quick look and you're just trying to figure out, is this worth a phone call or is it not? So this property, so you said this one's worth a phone call.

[Speaker:NATHAN_PAYNE] Yeah, so I figured it was worth a phone call if nothing else, just to connect with the agent and build that relationship, let them know who I am, what I'm about, what I'm looking for. So with the numbers on this one, if I was using the ARV at $325,000, 75% of that is $244,000. I'm not like an expert in rehab, estimating rehab costs by any means at all. But taking a look at this, it definitely needs, work, but it's not like falling apart either. So what I did, I don't know if this is right or wrong. I threw in $75,000 of rehab just from the photos.

$75,000.

$75K for rehab. Just based on some of the other conversations that I've been having, it could be off, but I think it'd be around that. So $75,000 rehab after the 75% of the ARV brings me to $169,000 basically before any sort of assignment. So it's still, you know, decently off, but I figured it would be worth a call nonetheless.

Do you feel all right if I put you on the spot and see if we want to call this house?

Yeah, absolutely. For sure. What I usually do on a first call, I'm not giving an offer on the first call. I'm just trying to gather my information, see what's going on, see kind of where it's at. And then I'll usually tell them, you know, I ran some soft numbers. Let me go back and run some deeper numbers. And then, you know, I can send something formal over. Where should I send it to?

Dude, love it, love it, love it. Guys, stop making offers on the first call with sellers, with agents. Stop doing it. It is killing you guys. I'm telling you, don't make offers on the first call. Amateur move. You guys are better than that. It's okay. You can come back. I promise it's still going to be there. Doesn't mean you're going to call them back in a week. You can call them back in an hour, 2 hours later that evening. Whatever. But do not put yourself in the position to where you, uh, you're like, you're fumbling to try to look at properties and comp it and come up with your number and make an offer right on that phone call. It's not necessary. You'll be able to be so much more effective when you break it into 2 calls, and it will build better rapport, and that's what gets us deals.

So what's your process after you make that offer to the agent to implant that relationship? What do you do?

So I'll have the initial conversation over the phone with them. After I get off the phone with them, I'll text them just to follow up. Hey, it was great, great connecting. You know, here's my info. I'll put some numbers together and send something over if I think it makes sense. I'll put together my formal offer. I'll email it over to them. I'll let them know that I sent it over. And then if they respond to it, that it gets turned down, I'll put it into my list of like offered. I'll mark it that it was rejected with whatever reason. I'll then put it in a folder that I offered it and I'll monitor it to see if it's still listed or not. And then if it's still listed down the line, I'll reconnect on my initial offer on it.

Nice, good. So you— way to keep track all that. So let me give you a couple suggestions that I think will help you even get even higher up on the totem pole of people they remember. Is that cool?

Yeah, absolutely.

All right, cool. So let me pull this up. Nate, do you have anything you want to say while I'm doing this? I'm pulling it up.

Nah, man, I think that was good. But I hope you guys are able to see the overview of kind of everything that we went through as far as when looking through a pro— and this was just one property, right? This was This was the second property you looked at, and Privy sent you 10 today. And this is a really, really hot lead. I would say.

I don't usually see ones like this, honestly.

Let's do this super quick. I'm going to show you how, Jared, you're going to be able to make them remember you, okay? Because that's so frustrating when I've made all these calls in the past and it's like, man, they never call me back, right? They're never going to hit me up. I'd love for them to give me stuff. Now, let me tell you why this works. Because Zeeshan, my virtual assistant, like, he has people hitting him up and he calls them and obviously he's got an accent. They're still hitting him up. You know why? Because he's doing this. All right, let me tell you what you need to be doing going forward. So look, you're doing great. You're calling the agent to network and you're making the offer. You're going through the process. You're making the discovery call. You, you know, you don't really need a script, or if you have one, you've done well with it. You're analyzing the property. They're calling them back or you're emailing them your offer. Okay, so That's not all we want to do. And not saying— not calling you out. I'm just saying anybody that's watching this, like, that's not all you want to do if the offer isn't accepted. You want to add that agent or that property— it seems like you already are— into a CRM, into Privy, so you can keep track. You want to create a list for those specific agents that you've made offers to. You want to add a note in your CRM about the conversation or into Privy about did that conversation go good? Is this agent open to working with a cash buyer like me or an investor? You want to add a follow-up task Or in your— this is again, if you have a CRM. If you don't, then you can also just write a note, but you want to follow up with them in 30 to 90 days just to check in. And that's not necessarily about that specific property, but it's just, hey, you remember me? Next thing. So, Jared, this is probably a lot different because I've, you know, this is— this isn't something I would want to do, but if it's helping you get more deals, I would recommend doing it. So you would send them a Facebook request so you can establish facial recognition. You are now present in their newsfeed whenever you post anything. Okay. So you send them a Facebook request and a LinkedIn. Jared, is that weird or do you feel like that would set you apart?

No, I don't think it's weird. I think it'll set you apart 100%. Something that I've actually done when trying to build out my buyers list as well as following up with agents that I have strong conversations with is I'll send them a recap email and I'll literally put at the bottom of the email a photo of myself and Jordan, my fiancé, who's my partner in this. Just to match a face with the name to stand out more so that they actually remember. Spoke with an agent yesterday who was in Tampa. I used to live in Tampa. I'm in San Diego now. He used to live in San Diego. Told him where I live. I can see into Petco Park. Sent him a photo of the stadium after I got off the call. Something to differentiate from every other wholesaler that's blowing them up.

I love it. I think that's amazing. So that's exactly— you're doing good. So go step on and get LinkedIn and Facebook sent. Text them your— text them from your cell, say thanks. Sounds like you do that. Let me ask you if you're doing this. This is huge. Are you sending them your buy box criteria? No. Do you think that would help, uh, by sending every agent you talk to a follow-up email that shows them exactly what you're looking for?

Yes.

Yeah, 100%. So that's what we do is whenever we get done talking to someone, we give them our criteria. What is the criteria? Well, it's the criteria of our buyers. That's it. So when this agent sees my face, when he sees, you know, that I'm on the feed, his feed, and he's got my buy box, I'm probably going to come to the top of his mind if he finds something that meets that criteria. Because all we're really doing, if you really look at it this way, we're pretty much like outlaw agents for buyers. Like, we don't have licenses and we can do this wherever we want. We're really just looking for deals for our buyers. And that's what agents do. That's why they get paid so well, because they've developed relationships with people in their network and they just bring them deals and they list stuff. But we're just, you know, doing it without getting our licenses and we can make bigger fees. So that's— you give them your buy box criteria. And this is an example, Atlanta. You tell them what counties you want and where you're buying. You sign the text saying where you're coming from. This is another thing that goes above and beyond, not necessarily something you have to do. But Jared, I would recommend that, you know, I can actually help you do something like this. You send a credibility— I call it a credibility packet. It's just an overview of your company. Okay. It's an overview about what you do. So when they get this, they're like, I ain't messing with no Joe Schmo here. So this is my company, Offer On Home. I send them a little letter, and this is for off-market, by the way. This is for people like sellers, but I can— obviously you can just tailor it to an agent. I say, hey, thank you for giving me the opportunity to offer on your property. This is my team, and here's some testimonials of people that I've worked with. Here's some FAQs, you know, frequently asked questions. Here's my proof of funds letter. You can just literally put your proof of funds letter in here, and that way they're like, oh dang, this guy's actually legit and ready to go. And then I outline what happens after I sign the contract. Again, this is more for off-market, But same thing, you could add your proof of funds. You could add like about you and Jordan. You could, you know, add some testimonials of people you've worked with or how easy it's been. If you send that with that email that says your buy box criteria, this could even have your buy box criteria. But if you send that, they're like, dang, I'm working with someone who's like got their ish together. Whether it's your first deal or your 100th deal, if you send this, you're credible. Now, by the way, this is not stuff that I made up. This is— I went to a seminar with this guy that does like millions of dollars in agent outreach. This is what he does. And it blew my mind. I'm like, dang, this is all good stuff. So the next thing that he does is he actually goes above and beyond and he caters all his social media posts to agents because he knows if he's friend requesting a ton of agents and they're going to be on his feed, he wants them to know that real estate is what he does. So he starts making posts that cater to the avatar of the people he's working with.

Right.

And that's the avatar, he says, 56-year-old male— oh, it's 56-year-old female who owns their own home. You make a VAP list once you start doing multiple deals. You make a list of people who are sending you deals, people that have closed deals with you, people that are referring you deals and actively referring us homes. Call them monthly, not just quarterly. Why would an agent work with you? That's just basically what it comes down to. Well, we have cash buyers lists. A lot of agents don't. They don't have the relationships. Again, it comes down to relationships. They want to leverage yours. You're leveraging theirs. Opportunities to double dip. I don't know if you're telling agents when you talk to them, but you can double dip where they can represent you. Not only can they represent you on the transaction to double dip, but they can triple dip, which means they can represent you, they can represent the seller, the list that they're listing with, and you can even say, hey, I might even sweeten the pot for you. I'll let you list this house after I'm done flipping it. So they just went from making 3% to 9%, right? They just tripled their income. They're going to be a lot more incentivized to work with you. Now, I know if you're wholesaling it, you can't control who that buyer goes with, but still. And this next thing you want to commit to is you want to tell them, look, any property you send me, I promise you I'll get you a cash offer within 24 hours. That is the value that they will send you deals for. They're just like us. They want to get their property sold. They want to know what it's worth. Maybe they don't know. Maybe they don't know what a cash buyer would pay. If you can be that person for them that you're just like boom, boom, boom, they'll be all about it. So these are just some steps that I think will set you apart. So if you don't get that deal, Jared, you're going to get many more that they'll send you as you let them know what you're looking for.

Yep. I actually, real quick, I actually connected with an agent. So there's a property, numbers weren't going to make sense, but I figured it was worth a call to network with her. I gave her a call and this was actually on the live role play in the community last week. And I spoke with her. She was super nice. We built good rapport and she was telling me that she actually wanted to start wholesaling herself.. And I was like, that's great. I work with a great team. I have a bunch of buyers happy to help you. So I connected with her, followed up with her the following week. She's an agent, so I'm sure she has a lot of relationships and could have properties being brought to her. And she seems totally down to work with me. So that just kind of goes to show what calling a property that may not be the best numbers could do down the line.

So exactly. Like, you know, leave no conversation or relationship without like trying to get, you know, provide value. Because that's, that's what it's all about in life is, again, it's relationships and serving and providing value. So never look at like, man, I keep on striking out on these offers, when you're like, well dude, I just today I just got tight with 10 people, 10 agents that can send me some because I committed to them that I'm gonna give them an offer within 20— you can say even 12 hours. Be like, dude, I'm always by my phone, this is all I do, send me anything, I'll make you an offer. To them that's value because they're like, oh shoot, I got someone that doesn't want to list it and I can know exactly what a cash buyer would pay. That's sweet.

Awesome. Thanks again for watching. I hope that information was helpful. Please subscribe to the channel, help me grow this thing, and I'll see you on the next video.