I was on broker’s tour a couple of days ago and next to a great listing was a run down house that looked like something out of the “Adam’s Family”. Don’t know if you remember that old TV show, but the house they lived in was crazy run down.
And I started thinking.
Why don’t we track down the owners of these sh%&holes and ask them if they would sell. And then sell them ourselves to our contractor friends who always give us the listing when they remodel the house. BAAM!
You double-end the initial sale to the contractor and then get another commission as the listing agent when it’s remodeled. Not bad, eh?
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I have done this 2x in the last year. The best one was when I was driving down the street and saw a rundown house with the heir outside. We stopped, asked him if he wanted to sell and he said he would think about it. After following up a week later, we showed our contractor who bought it through us for $900,000. So we double ended that deal.
Now they are expanding and remodeling it as we speak and hope to list it for sale at around $5,000,000 by year-end. THAT was a hell of a drive-by prospecting!
Whatever your price point, you can see how can you triple your commission with one house within a year.
We now make a note of every house that is run down and find the owner and ask that magic question….wanna sell?
Of course, all markets are different but you hopefully get the concept.
So keep your eyes open when you’re driving around town and see if you can’t triple your commission!