Realtor Marketing Presentation Nets Medal-Worthy Profits in Colorado

Friday, February 26th, 2010 | Real estate short sales

Approaching a realtor can be intimidating, particularly for the novice investor. But working directly with realtors can mean huge payoffs, and it’s less expensive than a direct marketing campaign. It requires more effort to approach a realtor than to do a direct marketing campaign, but today, 75% of properties in default are listed with a realtor. Your own marketing efforts may get you access to some of the remaining 25%, but why not go after the big 75%?

For Master’s Elite Coaching Member Jim McFadzean of Denver, CO, the SREC Realtor Referral presentation gave him the edge he needed to make big profits. While giving the presentation to a group of realtors early last year, Jim learned that one of the attendees was going through a divorce, was behind on his mortgage payments and had just filed bankruptcy. His property was over-financed for more than $100,000. The original balance on the mortgage was $364,000. After his presentation, Jim kept in contact with this realtor, and soon began gathering information for the short sale package. During this process, to add to the challenge, the realtor ended up in the hospital. At that point another realtor tried to slip in and short sale, but the seller stayed loyal to Jim. A complete short sale package finally was together – nearly six months from the time conversations started.

Jim was determined to complete this sale. An initial offer of 65% of the value was effective in generating the BPO, which “went perfectly because we followed The Art of the BPO.” The BPO on the property was completed, and Jim negotiated a balance of $198,000. Verbal approval was received and he finally closed with the sale with the new buyer for $230,000. For Jim, that meant a profit of $27,470!

Jim credits his success to the “coaching and access to the SREC leaders and members [that] keep me on the cutting-edge of what to do and what others are doing in their daily business.” He used to be a “one-man show doing everything and making very expensive mistakes.” Now, he has two full-time and two part-time employees whom he coaches and leads. He adds that, “SREC’s students produce the most profitable results, have access to the most intelligent information available on the subject of short sales and the highest quality leaders and peers in the nation.”
Be sure to check out SREC’s Realtor Renaissance for lots more details on how working with the right realtor can enhance your real estate investing business. Couple that with the Realtor Referral PowerPoint presentation designed to take the guesswork out of approaching realtors, to show how it can be mutually beneficial to team up together. Working with a realtor helps you, as a real estate investor, in two ways:

1. As a source of leads for problem properties, including short sales.
2. As a source for buyers.

By building relationships with realtors, you’re creating the possibility that your pipeline of deals will be filled with enthusiastic individuals who will help you find short sales and be ready to work as part of your team.

Congratulations on your success, Jim, and thanks for the great comments!

Will you be our next short sale success story? Take the first step to building your real estate investment business by registering to become a Real Estate Rebel today.

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