One of the methodologies I teach in my AstroFlipping mentorship is agent outreach, which is mainly about building relationships with realtors to help find leads and deals.
While this is a fantastic way to learn about and get more leads, there is a huge misconception when it comes to doing agent outreach.
One Real Estate Agent to Rule Them All
There is a popular concept in our business that, as wholesalers, we must build a relationship with just one agent.
This one agent is going to be our best friend and work for us, find us all the leads, so we can make all the deals.
Guys, that’s not how agent outreach works.
To properly do agent outreach, you need to reach out to many agents, not just one. Our business is to talk to as many realtors as we possibly can, so that we have as many leads as we can.
Building relationships with these agents is more than just a suggestion; it’s a must!
But the risk in that misconception is one realtor alone is going to help you is misleading. An example of this is a recent call I had with one of my Astro members.
She was doing a wholesale deal with an agent, who suddenly decided to go with another buyer. You can hear our conversation below:
My member is a little upset; she even mentioned being heartbroken over this sense of betrayal from her agent; they had a relationship built and then they went and did this.
And that’s how some people feel in the aftermath of an agent going with another buyer and why having only one agent is a mistake.
What Agent Outreach is Really About
As mentioned, doing agent outreach is not only important, but crucial to our business.
However, doing agent outreach is very much a numbers game; you should be making and building relationships with everyone.
Because that will only help you currently and in the future.
But Jamil, how do I find the right realtor relationship?
You follow up, of course!
When I first started, back in 2012, I was doing cold calling outreach and was able to find realtors who were listing properties. Now, when I spoke with them, they didn’t have anything I was looking for.
At the time.
But this is why you follow up because while they may not have something right now, they might and you want them to think of you when they come across something.
But Jamil! What do I say?
Don’t worry, I got you. You can download this text script we use to help you get started.
Building relationships with agents is the name of the game, but it’s also a numbers game, meaning that the more relationships you have, the more opportunities you’re going to have.
One last thing, guys – as I stated to my Astro member, while this was a learning lesson for her, it’s also one in forgiveness.
It’s so easy for our minds and even our egos to get upset when an agent goes with someone else, but that’s why we need to let this go.
I recently sat down with the great Ron LeGrand, along with Pace Morby, and we talked about cooperation over competition.
It was easy for this student member to feel discouraged at losing this deal to someone else and to feel slighted by the agent.
But as I told her, the agent was doing their job, so instead of feeling slighted or even betrayed, she should feel happy for them.
And because they have that relationship established, that means that the next property might come from this agent; or it might not.
But being able to let go – and more importantly, see this as a lesson – allows you to focus on the next deal and the next one and the next one and so on.
And that’s it, guys!
If you’re struggling to find agents or figuring out how to grow your wholesale business, then come and join the AstroFlipping community!