We currently have an issue with contacting realtors / land agents in Colorado. We usually try to reach at least one local agent after we receive a signed PA, and before we finally buy the property to get a quick and dirty price, they think they could sell it within six months (as part of the due diligence).
We reach out to them over the Zillow contact form or via their website when we find one.
We tried different messages like (not word by word but in the sense of): “We are a land investing company and we have a property under contract in the area you are working in. Are you interested in helping us with the disposition of the property? What price is reasonable for selling it within six months?”
In the beginning, we wrote in that message that we didn’t buy it so far and before we buy it, we would like to know a price from a local agent… Now we write it as written above.
The problem: We don’t receive any responses from them.
I’m hesitant to call them because that is not my strength. I guess that would help a lot. Do you have tips for approaching them via mail / text to receive more responses? Thank you!
I’m hesitant to call them because that is not my strength.
This is a very important role you’re trying to fill. It’s frankly worth the time you’ll inevitably have to waste making phone calls until you find the right person.
The phone is much more powerful than an email or text, and this is a time when it’s worth the extra effort because the right person will take a HUGE load off your shoulders.
I talked a bit about this with JB in a recent episode, where you always plans on calling at least 3 agents, with the expectation that many of them won’t pick up the phone or return their calls. It blows my mind too… but this is the level of apathy many agents operate with.
The only other subtle thing I might suggest in your message (when you do send these messages out via text or email) is in this line:
“We are a land investing company and we have a property under contract in the area you are working in.”
Instead, say:
“I am a land investor and I have a property under contract in the area you are working in.”
Make this business sound like it’s your baby, and all your skin is in the game. When you say “we,” you could be an employee of the company, or any other person in an organization who isn’t as invested as you are.
If you haven’t tried it yet, look for an agent here: https://www.rliland.com/ - these are land-specialized agents.
It is a numbers game. The ones that don’t reply you would not want to work with.
This is what I say:
My name is Boyd and I am looking for a real estate agent in the land business to work within your area and be a part of my team. If you have an interest give me a call. I only want to work with top performers. The majority will not call back. That is ok you want only the cream of the crop. You will get a 1%-5% return. Take the approach of Tim Cook of Apple or Elon Musk of Tesla you are looking to associate with winners and if you are one call me. If you notice I left out the word investor. Why? Because a lot of agents have been taken advantage of by investors. The ones that call back ask them why they called back. Their answer will tell you the type of person they are.
Seek out the services of land agents with experience not those who sell just SFD.
I have a feeling some of these agents have a bit of fatigue from trying to help so many land investors who don’t actually have a property yet and are just trying to get an opinion of value. It’s a lot of work for them, and the ones who have done it enough know there’s not a high chance that these interactions will actually turn into a listing for them.
But even so, it’s like @realestatenews said, if they aren’t willing to do a little bit of work with the hope of getting a listing, then they probably aren’t a good fit for you anyway. This is part of the interview process. If they aren’t responding to you in 24 hours, you shouldn’t expect them to do much better for actual buyers once your property is listed.
I get this, not because the phone isn’t my strength, but because calls take more time.
But if you know you’re weak in this area, that could be even more of a reason to push yourself to get one the phone, if for no other reason than to get better at something you know you need improvement in.
I usually don’t choose the phone as my first line of communication either, but when it is vital to closing a deal, I know exactly how to handle myself when the time arises. The only reason I know how is because I’ve had a lot of practice. It’s a bit of an art and a strong tool that comes in handy when you know how to do it right.