There are many things that have been working really well in my vacant land business, and one of them is working with realtors. I’ve been in real estate for 14 years, and I don’t know why I haven’t leaned on them more. Whether you’re selling houses or vacant land, realtors are huge and very important to your business. Leads from realtors cost nothing, and there are hundreds of thousands of vacant land listings out there today. Here, I’ll show you how to find the best realtors to work with and how to set up a deal so it’s worth their while. I also talk about how to get them to give you their vacant land listings.
If you want to learn more about calling sellers and realtors, making offers, getting leads, and setting up your systems, head to the link below to get information on our upcoming workshop.
Joe: Hey, what's going on? Joe McCall here, REI in your car podcast. Hope you're doing well. It's a beautiful day here in Saint Louis, Missouri. I'm driving this morning to go meet a friend from church for breakfast. And I like hanging out with people who want to talk business. So this is going to be one of those breakfast meetings. Anyway, I hope you all are doing well. I wanted to talk about something that's working really well right now in vacant land. There's a couple of things I want to talk about. Number one, working with realtors. My goodness. Why? You know, I haven't done more of this and all the deals that I've done in the past ten, 12, 13 years. Let's see. I got started in 14 years, right? Full time. I've been in real estate 14 years. Why? I have not leaned on realtors more and used realtors more. I don't know. But anyway, realtors are huge and very important to your real estate investing business, whether you're doing houses or vacant land. You know, I'm still a big, big proponent of direct mail. Direct mail has always worked. It always will work. You're not going to get the cost per lead is going to be higher with direct mail than other types of marketing. But the quality of your leads will be much, much better and will pay for itself many times over. Why? Direct mail works over at. Well, just kind of put all this in context. What I'm saying is because you're getting people that are calling you back saying, Yea, I want to sell my house or my vacant lot. Yeah, make me an offer. So it just changes everything. And then when you call them back, you say, Hey, I'm returning your call. So it's just better. But at the same time then cold calling still works and we're finding really, really great success with that in our land flipping business as well. All right.
Joe: So realtors, though. What? Yeah. How much does a lead from a realtor cost? Nothing. Nada. Zilch. And how many hundreds of thousands of vacant lots all over the country are being advertised and marketed for sale right now. That are old listings. I'm talking about old vacant listings that have been on the market houses and vacant land that have been on the market for over three months. Over four or five, six months. A ton of them. Right. So what if what if you approached realtors of older listings? I'm talking to land like you could go right now to Redfin and look up whatever county you're doing your vacant land deals in. And you always want to make sure you're doing vacant land in counties that have high demand, that are already a lot of vacant land is being bought and sold there. Okay. Go into those counties, find your Redfin, find all of the vacant lots that have been on the market for longer than either 90 days or 180 days. And you could even pull up all of the vacant lots that have been on the market for over, you know, maybe 30 or 60 days that have had a price reduction in the last few weeks. And what if you called those agents, those realtors, up and said, hey, I'd like to buy your lot, but the most I could pay would be something like this? Would your client accept it? You know, you can say something like, you know, before I waste your time with sending you an offer. That's a lowball offer. You know, how negotiable is your client? Would they consider something in this price range? I can see your vacant lot has been on the market now for six months. Hasn't sold yet. You probably love to get this thing sold. I could buy it today for, but I'd need to be somewhere in this price range. Would that work for you or your client? You could also say I can. I might be able to get them something more than that price if they would consider seller financing and then make sure the realtor understands, Listen, you can represent me. Get both sides of the commission. So you get the commissions on the on the buy side and the sale side. And if I can turn around and resell this property, I'll let you listed for me as well. So always approach these realtors of what's in it for them. How can you help them make more money by giving you deals? Does that make sense?
Joe: So a couple of things that are working really, really well. Number one, and I've heard this from other people that are doing this, okay, So I'm saying this I've done this before. The houses, it works really well, but I've never done it for vacant land. And now I know people that are doing it with the vacant land and guess who's going to be doing it also as well. In fact, we're going to be doing another implementation workshop coming up soon here, if you want to come out to that. We do these small little workshops, 12 people at the most in an implementation workshop, and we do them about once a month. Now go to Joe McCall dot com slash workshop, Joe McCall dot com slash workshop where we're going to get on the phone call sellers, call realtors, make offers, do the stuff and it's not just necessarily teaching but we're going to be setting up your systems for you, giving you leads if you don't already have them. And we're going to be getting on the phone and calling sellers and realtors. All right. So these things that are work and number one, go find who all the top producing agents are in whatever market you're doing land in, right? The top producing house agents, the ones that are spending thousands and thousands of dollars to be sponsored realtors on Zillow, you know, and call them and say, Hey, I see that you're a realtor. You probably throw away a lot of vacant land listings. If you bring me your vacant land listings, I'll pay you 10% on any off market. This is important. You see that on any off market, vacant land that you bring me, I'll pay you 10% commissions when I buy it. And then when I turn around and resell them, I'll pay you another 10% commissions if you're interested. Bam! Because these realtors, you know, they list houses, they don't list vacant land. They don't want to mess with that. And so they get a lot of things that they just throw away, Right? So you're telling them, again, discounted off market MLS listings. The other thing that you could do is call the agents of these properties that have been on the MLS for over 60, 90 days, over six months. There are tons of them. There's thousands of them. Call, email those realtors and see, Hey, it would your client be interested in negotiating a lower price because I need to be somewhere in this price range and you can represent me. Get both sides of the commissions, you know. Do you have any other vacant lots or, you know, the seller might be willing to negotiate on their price? Do you have any off market? Lots. Send them to me. I am your buyer. I will pay you generous commissions when I buy them. And then when I turn around and sell them, I'll pay you commissions. You see what I'm saying here?
Joe: If that's all you did, guys, you would have more deals than you can handle, which you should be able to handle as many deals as you can get. Right? But then you get realtors to bring you the deals, and then you use realtors to sell your deals. What are you doing then? What is all you're doing is getting on the phone. So this one lady I know is calling. Finding who the recent buyers are. A vacant land in a certain area, calling them and saying, Hey, are you looking to buy more? What are you looking for? What are you paying? Cool, thanks. I'm going to go find something for you and call you back. Great. Then she goes and finds older listings, vacant land listings on the MLS, calls realtors, just talks to a bunch of them, finds a deal, sells. But she's doing one deal every three days doing that. Do you get the point? Do you see why I'm so excited about this? This is amazing, awesome stuff and it's nothing new. This isn't rocket science. This isn't some new secret. This is just if you want to do deals, guys, get on the phone. Get off your butt. Get on the phone, if that makes sense. You can talk to sellers while you're on your butt. But what I'm saying is stop procrastinating. Stop asking what if questions and what about this? Or. Yeah, but stop being a yeah, butter, Get on the phone. Start making money. You have no excuses. You don't need a CRM. You don't need a ton of marketing. You don't need to be good looking. You don't need to be in good shape. You don't need to be whatever. You just need to get on the phone. Oh, my gosh. If you if you could just. How bad do you want this or not? I don't know. But if you could just get on the phone and talk to five or ten realtors a day. Guys, you will do deals. Money will never be a problem for you again. So get on the phone.
Joe: All right, see you guys. Oh, yeah. Hey, again, if you want more information on this workshop that Gavin and I do, Gavin is my coaching business partner. Go to Joe McCall dot com slash workshop, Joe McCall dot com slash workshop and it'll be a lot of fun. Hope to see you there. We keep them small about 12 people and it's an implementation workshop. We're going to get on it we're going to roll up our sleeves and do this stuff. See ya. Bye.