Hi wanting to know if anyone is using real estates to help market your properties either on a wrap or rent to own?
If you are how do you approach them and what arrangement do you have with them? Have these been successful
As I am also marketing the property if I get the sale no commision will be payable.Thanks
MickHi Mick
We don't utilise traditional real estate agents to market our vendor finance (VF) properties but we've heard of a handful of VF'ers that do. Unfortunately I don't have any real feedback on how that's gone for them. I guess it would depend on what commission rate you could negotiate.
Our marketing consists of:
Signs
Classified ads in local community newspapers
http://www.renttoownhome.com.au
http://www.vendorfinancedirectory.com.au
http://www.gumtree.com.au
a friend that is able to get our properties on realestate.com.au and DomainIf I went with a real estate agency I'd make sure I didn't sign an Exclusive Agency. This way no commission is payable if I find the buyer.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
As of this day, a lot of real estate companies and professionals market themselves online since they found a lot of opportunities and ease of access in marketing their service. Besides it could save one from paying commission on hiring a real estate professional
Tip! Have your own unique selling proposition.We certainly do, and as buyers'/proxy agents who only sell services and not actual properties, it's easy –
option 1) – same country/"around the corner" – they advertise a general service and some sample listings to their existing lists/contacts, we share the comission on the first purchase – then they end up getting handsomely paid for what's not much more than an emailed introduction, we take one deal at virtually cost, but get to keep a new and happy customer, and everybody's happy.
option 2) – "far and yonder"/real distant lands/non-English speakers – we contact a few candidates and narrow things down to an "area manager" who's comitted to invest of their time and money, work hard etc – they become our channel managers for that area, and receive a regular 33% of all business derived from their neck of the woods, whether it's initial or repeat business. In this case they usually require exclusivity agreements, and rightfully so, as raising awareness to a new product in a new area takes time and effort – just need to make sure the contract has exit clauses in case they turn out to be the wrong agency for the job (for example, if the work doesn't result in three active clients within six months or so, you're free to try a different local channel
Ziv Nakajima-Magen | Nippon Tradings International (NTI)
http://www.nippontradings.com
Email Me | Phone MeZiv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property
zmagen wrote:We certainly do, and as buyers'/proxy agents who only sell services and not actual properties, it's easy –option 1) – same country/"around the corner" – they advertise a general service and some sample listings to their existing lists/contacts, we share the comission on the first purchase – then they end up getting handsomely paid for what's not much more than an emailed introduction, we take one deal at virtually cost, but get to keep a new and happy customer, and everybody's happy.
option 2) – "far and yonder"/real distant lands/non-English speakers – we contact a few candidates and narrow things down to an "area manager" who's comitted to invest of their time and money, work hard etc – they become our channel managers for that area, and receive a regular 33% of all business derived from their neck of the woods, whether it's initial or repeat business. In this case they usually require exclusivity agreements, and rightfully so, as raising awareness to a new product in a new area takes time and effort – just need to make sure the contract has exit clauses in case they turn out to be the wrong agency for the job (for example, if the work doesn't result in three active clients within six months or so, you're free to try a different local channel
I admire the idea of getting in touch with other people who can potentially help in the due process. I think they become the middle men or simply a bridge connecting your service to people you are targeting. I have a question here, what are some ways on how to determine if the potential middle men are reliable person? Are there some set of standards to look into? Thanks!
As they’re the ones supposedly bringing in customers to pay YOU the money, you’re the one who needs to answer those criteria, not them
You can get references and draw your own impressions, but what’s the worst that can happen to you as the provider? A customer who backs off at the last minute? Can happen anyway, and isn’t the channels fault.
Of course if they keep connecting you to tire kickers or just don’t deliver any customers, you need an exit clause (see above), but the majority of providing proof to claim is yours, as the end provider.
Does this make sense at all, or am I misreading your question here?
Ziv Nakajima-Magen | Nippon Tradings International (NTI)
http://www.nippontradings.com
Email Me | Phone MeZiv Nakajima-Magen - Partner & Executive Manager, Asia-Pacific @ NTI - Japan Real-Estate Investment Property
zmagen wrote:As they’re the ones supposedly bringing in customers to pay YOU the money, you’re the one who needs to answer those criteria, not themYou can get references and draw your own impressions, but what’s the worst that can happen to you as the provider? A customer who backs off at the last minute? Can happen anyway, and isn’t the channels fault.
Of course if they keep connecting you to tire kickers or just don’t deliver any customers, you need an exit clause (see above), but the majority of providing proof to claim is yours, as the end provider.
Does this make sense at all, or am I misreading your question here?
Your explanation makes sense sir zmagen, thank you so much for giving that polite idea.
Tip! Have your own unique selling proposition.
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