How To Make 100k in 100 days (Part 3)

For Rent By Owners

Author

Tim and Julie Harris
August 15, 2024

HARRIS Real Estate Daily

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6.     For Rent By Owners.  Investors who own single-family or small multifamily units are an amazing source of new listings for you.  This is one of the easiest scripts to learn and polish because it's a simple business conversation.  If the home is vacant and for rent, might the owner rather sell it versus continue to keep it as a rental?  Offer to do a free, comparative market analysis so they can make an educated decision and see what that does to their plans.  Again, potentially one contact and multiple transactions.  Maybe they want to re-invest in different properties with you.  Maybe they want to cash out their entire portfolio while prices are high.  You won't know if you don't ask.  You'll also love this source because the phone numbers are easy to get!

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7.     Small and medium-sized builders who are building homes on 'spec.'  This means they're speculating that the house will sell.  There are many iterations of this, all of which we teach in Premier Coaching, but what is working for our clients lately is to identify buildable lots and take them to the small builder.  You sell the lot and list the spec home, often bringing the buyer as well.

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8.     Flippers.   Sure, they might sell the home on their own (refer to the previous For Sale By Owner point), but flippers often will list with you so you can bring a buyer to them before they're actually finished with the flip.  This helps them because they can flip more homes in less time.  A bird in hand, so to speak.  Meanwhile, while you have it listed and they're finishing it, the house generates more and more buyer and seller business for you.  It's a win-win for everyone.

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9.     Probate.  Not many agents prospect probate leads because they don't understand it.  Probate is simply the process of selling a home after someone passes away.  The court appoints an executor of the estate who can then sell the property.  If keeping the home in the family is not an option and the executor(s) wish to cash it out, that's a listing.  Sometimes they'll re-invest the proceeds in real estate, sometimes it's just the listing that you'll sell.  Either way, they need someone caring and competent to get the job done.

10.     Your professional Center of Influence.   When was the last time your favorite lender sent you leads?  When have you asked?  Who do they know who is getting pre-qualified right now to buy and has a home to sell?  Stagers are also great to know because smart sellers call a stager first.  Refer business to stagers and ask for leads in exchange.