by Jim Myrick
My 19 year old son has begun taking an interest in Wealth building and I have encouraged his quest for knowledge. I get a lot of emails regarding classes and seminars on investing so I signed us up for a 3 day class on Real Estates investing that look interesting.
Pretty early in the class, the instructor encouraged to find sellers that are not represented by a Realtor. The challenge with Realtors is that they are looking to get maximum dollar for the property which reduces the profit that could be realized by an investor. There was additional encouragement to not get a Real Estate license because of the higher standards practice that the law would impose.
The basic strategy was to find uninformed and unrepresented consumers in distress to cut one sided deals at great profit.
The instructor asked if they were any Realtors in the class and I identified myself as a 30 year veteran of the business. The instructor apologized if she offended me on this strategy.
My response was “I don’t take offense on doing my job of protecting my clients interest and getting them the most money possible for their homes.”
I did walk away with a lot of good information from the 3 days I spent with my son in this class. The wealth building conversation with him was invaluable.
I appreciate the Realtor model being constantly challenged by technology and different models. It makes our industry continually better. But when the day is done, the question is the “cost benefit” of the service to the consumer.
Our Team’s focus has been to increase services to maximize the net profits for our clients as opposed to “giving less for less” like several discount models. Coming in with no or weak representation is like bringing a knife to a gun fight that can cost a consumer thousands of dollars.
If you are looking to take advantage of a homeowner and get a under market deal, don’t come look at any of our clients homes for sale. They have a Pitbull of an agent on their side that is committed to getting the most amount of money for their family.