In the kind of spec real estate I do, I “Kiss a Lot of Frogs”.
By this I mean I have to look at dozens of listings before I find a few worth seeing. Of those, I may “run numbers” on most of them once I see them or even before I do. But I’ll only put an offer on a few. Of those offers, only one or two might be accepted or countered.
All of that means my agents and I need to constantly be on the look out for property I want to know about. How does it work?
1. My primary agent sends me local sales updates for available property that fit my criteria every few days or even more often than that.
2. When a property is worth seeing we schedule to see it very quickly. We go together to discuss what we think the place needs in order to sell.
3. I run my calculations to make sure I cover all costs in my assumptions. I share this information with my agent so we are on the same page.
4. My agent checks what the property should sell for when done, based on comps, and his deep knowledge of the area and whats happening in it.
My agent understands I need to “Kiss a Lot of Frogs”, but I try to be conscious of not wearing him out with time wasters. The goal is to buy and sell, not just look.