Many adversarial relationships have been formed between Realtors and Real Estate Investors. That’s not the case for Heritage Home Buyers. We see the real estate market populated by realtors and investors not as an “either/or” binary choice, but a rapidly changing market undergoing what might best be called “Uberization.” Realtors have found it increasingly difficult in recent years to maintain their income without adapting to technological changes. As always, this quote rings true: “The only thing that never changes is change itself.” So how do we propose to deal with this change? Here are just a few methods we’re working on:
Heritage Home Buyers works with realtors in many ways, creating win-win relationships.
We Buy Bad Listings
Most people want to list their house with a realtor to make the most money possible. But what if their expectations exceed reality? This is becoming more and more of a problem for homeowners now at the end of the useful life of all the elements of their home, now often older than fifty years.
For example, some houses don’t qualify for an FHA loan, or they won’t be attractive enough on the MLS for the realtor to bother listing it. Some sellers lack the means to properly repair their houses and lack the time for the necessary photos and showings. Realtor: do you want to list a property that you know will have trouble selling and won’t make money? You likely have had clients wanting to price their homes much too high. We all have had the experience of lowering prices while the days on market crept up, making the home even less marketable.
A realtor working with Heritage can prevent agents from being the bad guy. Heritage can be the bearer of bad news, taking you off the hook of telling them their house is worth far less than they think. We have ways of doing this that educate the homeowner and they can have more confidence in you.
If you have a client with a property that you feel is a bad investment of your time, we can help. We pay a minimum referral fee of $500 for any house that we purchase. While we judge houses on a case-by-case basis, sending homeowners to us can save you time and money, while still being able to make some in the transaction.
Save Time while Building a Mutually Beneficial Relationship with Good Clients
It takes a while to enter a listing on the MLS, usually two hours minimum. Referring a homeowner to us can save you time. We are on your side. We don’t buy it unless it’s a good deal for everyone involved in the deal. You don’t have to spend time working on a property you shouldn’t have to.
Referring “problem properties” to Heritage is an effective way for realtors to maintain otherwise good clients. Some agents have clients who sold or purchased $500,000 homes. Then a short time later, they inherit a distressed property. While you can help them, it’s not the kind of thing you do every day.
If your practice is in high-end properties, a $30K property is problematic, and it’s probably not worth it to you. In that case, let Heritage be your resource. Send the client to us and we will take care of them, and you will still be paid a minimum of $500 (as we pay anyone who similarly refers property to us).
We Educate Realtors
At Heritage, we believe in educating the associates we work with and we have invested especially in realtors. We call it the Houston Investor-Realtor Alliance. There are many aspects of the real estate investment industry which can benefit realtors. Many realtors want to build up their own portfolios, we can help with that. We can help with short sales, pre-foreclosures, networking opportunities, and combine marketing efforts.
Realtors and Real Estate Investors
Not all real estate investors are worth developing relationships with, but Heritage Home Buyers is building a business not just to profit today, but to provide win-win opportunities for generations to come. We welcome the opportunity to work with you. If you have any questions, check out the Houston Investor-Realtor Alliance or visit our web page. You’ll be glad you began a relationship with the Heritage Real Estate Community. We see opportunities for all in the developing relationships between realtors and real estate investors.