Working with Realtors® is cooperative rather than competitive once you give this unconventional approach a little thought. This is such a powerful technique that the Lease Option Action and Achievement Plan that is part of every one of my courses recommends that you include it in your business plan the very first week.
Getting started is as easy as adding your business name to the Working with Realtors® Presentation that is provided – it’s as simple as cut, paste, and GO!
The main message that you and the presentation deliver about working with Realtors® is the innovative approach and edge it gives Realtors® to sell more of their listings. This unique and seldom thought of tactic is NOT competitive because it enables Realtors® to sell listings that otherwise rarely sell.
Lease Option Investors are NOT Competitors with Realtors®
When you begin working with Realtors®, your first message is straightforward – you will deliver the buyers they need for difficult to sell houses. As a lease option investor, you provide Realtors® an extension to their services that other Realtors® cannot offer. The services you offer don’t apply to the majority of the Realtor’s® listings. But the Realtor® can decide at any time that your services are the right solution for a problem he/she has.
The Realtor® has control by deciding when to engage your services.
What you do is suggest that your lease option services are often a good fit when the Realtor® has hard to sell listings because:
Listing Not Selling? For whatever reason, traditional buyers are not making offers. Houses languishing on the MLS for too many weeks send up a red flag to all buyers that something is not right with the house – even if there is nothing wrong. A fresh approach using a lease option will entice plenty of unconventional buyers.
Seller Needs Debt Relief? The seller needs cash right now. A traditional sale takes months to bring to the closing table where the seller pockets his/her money. A lease option can put money in the seller’s pocket in a day or two.
Seller Has No Equity? What the seller owes on the mortgage is very close to the market price. Because the seller’s listing price has to be very high to cover the Realtor’s® commission, no serious offers are being submitted. Lease options have an answer to this situation.
Lease option buyers routinely make serious offers at the full asking price.
Seller Willing to Lease? Some sellers would rather have cash flow from the house rather than a big check from a sale. But they don’t want the hassles of being a landlord. A sandwich lease option can be the answer these sellers are looking for. This might be the situation with an inherited house or one that is in probate and can generate income for everyone until the estate is settled. There are many reasons a seller wants to lease for a while before selling the house.
Seller Doesn’t Need Any/All Cash Out? The taxes that will be owed are a common reason why a seller doesn’t want all of the cash at one time. Maybe it is a rental house that the landlord wants to sell before retiring from his/her day job. They don’t want all of the cash the same year when they will have a high salary and be paid for accumulated benefits when they retire. There are many reasons why a seller doesn’t want all of the cash at one time.
Home is Vacant? There are many times that a house is vacant and the seller is paying the mortgage for the vacant house and another one that they are living in. Maybe they transferred to another city. Or they unexpectedly had to move into a nursing home. Or there is a new marriage with two houses. Or the last tenant moved out of a rental and the seller no longer wants to be a landlord. All of these scenarios are about paying two mortgages that are financially killing them and they need to start generating income from the house by the end of this week or next week at the latest. A lease with an option to purchase can be the perfect answer for all of these problems and many more!
The listing side of the commission is paid to the Realtor® as soon as you take control of the home. This is very important to share. All of the details are in the Working with Realtors® course.
Pocket Buyers Can be Heroes by Working with Realtors®
You can refer to your services as a “pocket buyer.” Realtors® know what “pocket listings” are. These are exclusive listings a Realtor® has that are not advertised on the open market. The seller has reasons why they only want the listing known to a few select buyers. The Realtor® has exclusive discretion to reveal the listing only when appropriate. You being a “pocket buyer” is similar. The Realtor® only calls on your services when it is appropriate for a specific seller.
I use the words “Lease Purchase” when working with Realtors®. It sounds more like a guarantee than an option. After all, you are guaranteeing to pay the listing commission as soon as you take control of the property. Until you explain it, few Realtors® are going to understand how low risk a lease purchase is for them. They have an unfounded fear that they will never see a penny or if they do, it will be in several years when the sale closes (maybe). Not True! Following my proven process, you, the Realtor®, the seller, and the buyer all come away winners on day one! WIN-WIN-WIN-WIN!!!!
Certainly, there are also many other ways that lease options help Realtors®. It saves them marketing expenses for a house that might never sell. It means a quicker sale rather than letting a hard to sell house languish on the market. It makes their client happy when they have a creative solution that other Realtors® don’t have. Happy clients refer more business to the Realtor®. The Realtor has more time to spend on other houses that are attractive to traditional buyers. When working with Realtors®, the list of benefits goes on and on and on and…..
There is true value for both of you when the realtor gains you as a repeat client and you work with a Realtor® who clearly understands how he/she will benefit from sandwich lease options.
Working with Realtors® can be the most influential way to obtain access to an almost unlimited number of sellers with a need for sandwich lease options. But this is still only one of the many ways that lease options will make you wealthy:
- Investing In Real Estate with Lease Options.
- Advanced strategies for Buying and Selling with Lease Options.
- Your Wealth Building Arsenal.
- Add Personalized Coaching.
- Cooperative Lease Options.
- Expand to Get the Deed “Subject To.”
- The time-proven method for Working with Realtors®.
By Wendy Patton
For more than 30 years, I’ve used the Sandwich Lease Option System to earn myself and my students millions of dollars. From my experience, I know there is plenty of room and opportunity in the real estate investment market for everyone wanting to participate to find profitable deals. It’s because of that fact and my personal success that I share the Sandwich Lease Option System with others.
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