We’re currently working on a deal somewhere in Florida, and I want to show you something here that is really, really cool. It’s a four-acre property that we got under contract for about $215,000. The seller listed it the year before at $340,000, and it expired a few months ago. We originally listed the property on our website and Land.com for $280,000 and got a buyer, but it fell through. We were getting discouraged, but then we took a bit of a different angle.
We got on the phone and started calling buyer’s agents, offering them generous commissions if they could find us a buyer. This subtle shift made a huge difference, and in just a few phone calls, we got a buyer. We were blatant and upfront with the realtors that we were wholesalers and told them we just wanted to assign our contract to save on closing costs. Here, I’m walking through the strategy so you can copy it in your own business.
Joe: Hey, guys. How are you doing? I got something really exciting to share with you right now. We're working on a deal somewhere in Florida. It's not this county. I'm going to show you something here that is really, really cool. But this is the deal. We got under contract for about $215,000. It's about a four acre property. And the seller added listed the year before. Well, no added listed in it expired a few months ago for 340,000. Right. 340,000. It expired. We offered 215. We put it on the well. We didn't put it on the MLS yet. But we put it on our website. We put it on I think Land.com for. $280,000 got a buyer. Really quick, but the buyer backed out. Remember, we have three months to close on this deal, right? And so we're getting a little discouraged because we. Were thinking we're already counting our chickens before they hatch, eggs before they hatch or whatever.
Joe: So this is something that we've I've taught before, but my angle has always been a little different. And but my acquisitions dispositions guy, my good buddy Matt was like, you know what, I'm gonna try something different. So we got on the phone and started calling all the buyers agents of properties, not asking them would you list our property, but calling buyers agents and saying, Hey, we've got a deal, we'll pay you real generous commissions if you can bring us a buyer. So not asking to list, but asking them to bring us a buyer. Different little subtle shift that made a huge difference. So with just a few phone calls, he found a buyer that brought us a car. I found a realtor that brought us a buyer with a contract to buy it for 260. So we're buying it for 215, we're selling it for 260. That's the spread of, what, 45 grand? And we're going to pay this realtor a 3% commission. But here's the crazy thing about it. All right. Listen, pay attention. We call this agents. We call these realtors of listed properties that the buyers agents. of sold properties that were on the MLS. I'm gonna show you how to do that here in a minute. And we said hey, we are investors, we're wholesalers. We just we're blatant, right upfront and honest with the realtor, with the realtors. We are wholesalers. We've got a property under contract to buy in this area. We're trying to just assign our contract so we can save on closing costs. We decided we don't want to buy it, so we just want to assign our contract to save on closing costs. We see that you've recently sold a property here. We're wondering what your buyer might be. May be looking for another property to buy here in this same area, and we will pay you, what, three, five, 10% commissions.
Joe: Now, obviously, the more expensive the property is, the less percentage maybe your commission should be. But here's the key to make this work, you need to be really, really generous with your commissions and all that realtor needs to do. They don't care that, number one, you're a wholesaler, that you don't own the property, that you're just assigning it. Most likely they don't care at all, Right? All they're hearing is what I mean. I just need to make a few phone calls and I can make 5%, 10% commissions. What if you said this? What if you said, hey, listen, I've got a property I want to sell and we need a buyer? We're just going to we don't want to double close on it. We don't want to use our cash to close on it. We just want to assign it. So if you bring us a buyer, we'll pay you 5% commissions on this deal. And if you can bring us a buyer that can close in 30 days and that actually closes will double your commission and pay you 10%. Boom. My mind's blown right now. You mean you think and that's a lot of money to pay what I'm telling you would you still if you can make ten grand and you pay that realtor five grand, you still make five grand for doing nothing except making a few phone calls. So now you don't have to worry about closing costs. You've got a realtor that's going to be on your side that's going to explain to their client, Hey, I got a good deal here for you. Yeah, we're going have to do an assignment. They're buying it for ten. We're selling it for 20, whatever.
Joe: So but it's still a good deal at 20. That realtor is now going to be on your team. Does that make sense, helping you close this deal? So it's just a great way Now that realtor will bring you a title company or a closing company or a closing attorney that can handle the deal, and they're going to be more interested in helping you close this quickly because they're going to get even more commissions. Now, it could just even be still like, listen, I'll pay you 5% commissions. And I'll pay an extra $2,000 if you can close it within two weeks or 30 days or whatever, if you can bring me a good buyer and we just do an assignment the understand like so before what I what we've done is we've called realtors saying, Hey, would you list my property? What if now instead you call realtors, Hey, will you bring me a buyer and don't even list it? So how do you find these buyers? Let's just say this is another county I'm in, right? We're just here looking at vacant land, and sometimes Redfin acts a little slow here. Let's try this again. Vacant land. All right, here we go. And let's look at sold in the last month. Done. All right. Now, if that land sold in the last month and let's say I'm going to remove out line and we're just going to draw a little area where our property is and let's zoom in a little bit here and hold on. All right, Joe, will you please get a little smaller there? I mean, try I'm trying to move this map. There we go. So, again, we're at sold in the last month, vacant land only. All right. And let's draw in an area. Where our property is at. Okay. Boom. Look at this. Let's sort it by most recent saw. Here we go.
Joe: Okay. Guess what's going to happen? Watch this. We click on this guy. Scroll down. But with boom. Now, sometimes some markets don't give you who the buyer's agent was. Just the listing agent. So, you know, call the listing agent. But what I'm telling you is call these buyer's agents up and just Google Madeleine Garcia. There's a phone number right there. Now, that's maybe the phone number for the realtor. So you can click around and get information on these realtors. There he goes. Are mobile phone number right there. And there's like, you get different information on different links that you go to. Sometimes if you go to Realtor.com you get better information on who the buyer's agents are. But again, call Madeline up and say, Madeline. Hi, my name is Joe. I'm an investor in Saint Louis, Missouri. I see you just sold a property here in Lehigh Acres. 33971. I have. I'm an investor. I have a whole. You could even say I'm a wholesaler if you want, but that automatically, if they get triggered by that and start going into breaking into hives because you're an evil, wicked wholesaler, you don't want to do business with them anyway, right? So just be like right up front. I have a property down the street from yours under contract. I got it under contract to buy it for five grand. I don't know if I want to, and I'm looking to just. I just want to sell or I just want to flip this contract to somebody else. And if I don't know if you. If you have a buyer that might be interested in this or not, but I'll pay you 10% commissions. And if you can bring me a buyer that can close within 30 days, I'll pay you an extra thousand dollars as a bonus that you wouldn't be interested in helping me with this, would you? And by the way, I just want to just, I just want to do an assignment. I don't want to have to double clothes so I can save in closing costs and all of that. Do you ever. Do you have a buyer that would be willing to pay me five grand for my contract or, you know, or pay me ten grand for my contract.
Joe: And then that's it. The realtor will handle everything else. They'll handle the paperwork, they'll handle it. They have to listed on the MLS. Or maybe they don't. They'll handle finding the title company that can do this. You know what I mean? It's just got to be a good deal and be honest with them. Say, you know, we've got it under contract for 20 $500. If I can make I want to make at least a $5,000 assignment fees or whatever commissions you want to make. On top of that, just let me know, like if you can get a buyer that can make if you can bring me a buyer that can buy it for 20, I'll make five. You make 15. You like whatever the numbers are, right? But you call these agents up. They're going to be hungry and they're going to be like, Oh my gosh, this is great. I've got a buyer. Yeah, He's looking for more deals in this area. He or she let me contact them, find out what's going on. So this is just like this. Look for these recent sold. And call Omar. What's up, Omar? How are you doing? I am. I'm trying to look for information here on these. It is direct number right there.
Joe: You see what I'm saying here, how powerful this is. And then you can find out within the you get this under contract, you can find out within a week or a couple of days whether it's a good deal or not that real. The realtor is going to go and look at the property. They're going to tell you, you know, I mean, that's not a good deal. There's no road access there. You know, it's on the wrong side of the tracks. Like I went and looked at it, by the way, you could tell the realtor, you know, when you go look at we take some pictures of it for me, that realtor can also list it for you if they want. Maybe like the guy and you like, you know what? I can't. I don't have any buyers right now, but I'd be willing to list it for you. Boom. There you go. But that realtor will give you feedback on the property. They'll go look at it. They'll take pictures. They'll tell you whether it's a good deal or not. But you just be straight upfront and honest with them. I'm looking for a buyer I can just do I just want to do an assignment and I want to do a double close. I'd rather not even listed on the MLS. You can bring me a buyer, I'll pay you 5%, I'll pay you 10% commissions and you'll be shocked how many realtors can just make a few phone calls and we'll get you a buyer and a contract and an offer within a few days. Mind blown.
Joe: You understand? Like maybe you're thinking duh. No duh Joe, of course. But what blew me away when got so excited about this was again, this was normally in the past, and I've called realtors, I've called them trying to listen my properties. Now I'm calling them just bring the buyers. That said, let's not forget, let's just forget the listing. So this this deal, we bought it. We have it on a contract for 215. We've got two more months to close until we have to close. We got a real judge bring in us. They gave us an offer for 260 with a $25,000 earnest money deposit with a one week inspection contingency in there. And we're paying that realtor 3% commissions and they know it's going to be an assignment.
Joe: So I'll keep you updated on this deal, but I hope this maybe inspires you because this makes everything so much easier. All right. Sorry for the long video. I could have said the whole thing in just 30 seconds, but I think you are. You should be excited about this. Hope you're doing well. See ya.