Question for ya…
As an investor, do you have negative thoughts of property managers and Realtors? It’s rather common, actually…
Many investors think property managers and Realtors are the enemy. And vice versa, for that matter.
Usually, it’s because neither fully understands what the other does, and they all think the others are trying to take their profits. (Plus, many Realtors think investing is illegal brokering. But when you do it right—advertise the contract not the property—it is absolutely legal.)
But here’s the thing… do NOT ignore property managers and Realtors. These people are a fantastic source of leads for both buyers and sellers—so ignoring them could mean missing out on A LOT of potential profits.
Think about this…
Property managers, for instance, will know when burned-out landlords are ready to sell. Make a connection with these prop. managers and they’ll call YOU when that happens. Plus, there may be an opportunity for a private lender among those landlords. (Didn’t think of that, did ya?!)
Heck, you can refer business to property managers too. It’s not just a 1-way street, you have to provide value, too, in business relationships.
Just make friends with property managers… take donuts to them, take them out to lunch. It’ll be a worthwhile relationship, I assure you. Having professional relationships with property managers is a great resource of all kinds of deals. 🙂
Same goes with Realtors…
You should actually be marketing to them!
I know of several investors who send emails and voice blasts—and they’re closing deals regularly. For real.
Remember, there are many listings that have been on the MLS for over 30 to 60 days (for many reasons). You call or email the Realtor, make an offer and take on those properties—Realtors are delighted! They can unload their property and still get commission on it!
Realtors can also send you leads…
They sometimes get calls about properties that they don’t want to list—because the property needs too much work, it’s too much of a hassle, their commission will be too little—so they can refer those leads to you! Then you swoop in and solve the seller’s problem.
Make new friends…
Network your butt off with property managers and Realtors.
Yep, it’s time to step up and build ongoing relationships. Only good can come of it.
