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#410449 - 07/22/12 10:59 PM Door Knocking for a client?
Whiptea Offline
Junior Member

Registered: 07/22/12
Posts: 3
Loc: CA, USA
Hi! I have a client who's looking to move into a condo. However it's very specific that it has to be a 3 bedroom condo; which are few and far between. I was thinking of actually going to the complex and trying to find out which ones were 3 bedrooms and convince one to sell. What would be the best way to approach this and at the same time how would this work? Dual agency and would you still charge the same commission or discount because you already have a buyer lined up?


#410465 - 07/23/12 12:57 PM Re: Door Knocking for a client? [Re: Whiptea]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2273
Loc: Outer Banks
I would not touch this with a ten foot pole. You do not have a client if they want something that is not for sale. You will end up spinning your wheels and end up frustrated and broke. Devote your time to generating clients who you can actually help.

If you do find someone who is willing to sell it will most likely be someone who is so flattered by your request that they think their condo is the best condo ever built. If you find a condo and it is overpriced does your buyer have cash and are they willing to pay higher than market value?

Put this new client on a list and keep them updated until something comes on the market which will meet their needs.
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

#410471 - 07/23/12 02:27 PM Re: Door Knocking for a client? [Re: Whiptea]
johnnyloans Offline
Veteran Member

Registered: 03/29/09
Posts: 870
Loc: Los Angeles ,CA
does it have to be 3 bedroom in a certain complex?

Edited by johnnyloans (07/23/12 02:28 PM)
Johnny James
Real Estate Broker in CA
(855) 898-3354
Greater Los Angeles Area
Have Car Will Travel
For Those That Google

#410472 - 07/23/12 02:41 PM Re: Door Knocking for a client? [Re: Whiptea]
REODayton Offline
Major Contributor

Registered: 07/27/06
Posts: 3720
Loc: Dayton Ohio
In my experience when they are that dug in, it has to be 1 specific feature, they are are not that serious. You will finally find one, then the buyer will say, I need a 3rd bathroom also. Then all Bigtoes comments come into play.

I'd put them on a watch list.

#410485 - 07/23/12 09:42 PM Re: Door Knocking for a client? [Re: Whiptea]
Mike Burchyett Offline

Registered: 05/21/12
Posts: 183
Loc: Nashville, TN
I don't see the issue here, although I might make sure this is really a motivated buyer, you should be doing that with every buyer. This exercise gets you out knocking doors looking for potential sellers. Good chance one ends up listing with you, IMO. This is miles better than sitting in the office hoping a new listing matches what your "maybe" buyer is looking for. I say go for it. FYI I role play with an agent in Utah who gets about 1/2 of his business literally cold-dialing phone numbers. He's on pace for 50 closings this month. For every 125 people he talks to he closes one deal. You'll be surprised at the results!

#410489 - 07/24/12 05:58 AM Re: Door Knocking for a client? [Re: Whiptea]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 7868
Loc: Vermont's North-East Kingdom
Just remember "who" came first. You began working on behalf of the prospective Buyer (Client?) before you even knew the Seller existed. Doing this creates an "implied" Agency with the Buyer.

So I would NOT attempt to make that a Listing until I was certain that my primary "Client" is not interested. Otherwise you are automatically putting yourself in the position of being a Dual Agent, which is forbidden in many jurisdictions.

If you find the "right" condo, write it up as the Buyer's Agent and take your compensation from the proceeds of the Transaction.

For Real Estate Agents, it's critical to always be conscious of "who" you are working for and whose best interests are paramount. Some Agents find themselves being reminded by their Real Estate Commissions when they lose sight of this.

To be involved, you do have to represent at least one side of a Transaction; but you want to avoid representing BOTH.
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

#410494 - 07/24/12 08:46 AM Re: Door Knocking for a client? [Re: Whiptea]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 935
Loc: London, Ontario
Odds are that if you do find somebody willing to sell right away they will want top dollar for their place ie. well over market, and your clients will have no ability to negotiate.

You will probably get the best rests to just mail a letter to the current condo owners and wait for a reasonable seller to pop up in a few months.

#410517 - 07/24/12 12:28 PM Re: Door Knocking for a client? [Re: Whiptea]
Artiste Offline
Major Contributor

Registered: 06/12/06
Posts: 2372
Loc: Arizona Bay
People knock doors to sell newspapers, magazines, invitations to attend their church event -- you'd better go knock those doors. Knock all of them, not just the 3-beds, while you're out there - a 1-bedder might know a 3-bedder who needs to downsize or sell - you don't know until you ask!

Stop sitting on your thumbs and get out there...or I'll call your client and go do it for him myself and take your buyer from you plus list 3 more that I found by door-knocking and get rave reviews from your former buyer plus the 3 more sellers that I found while you were hemming and hawing on a message board.
Let's take back the real estate between our ears and get green like a sonofa$%^&*

NAFTA is over!!
(if you want it)

#410528 - 07/24/12 04:06 PM Re: Door Knocking for a client? [Re: Mike Burchyett]
Whiptea Offline
Junior Member

Registered: 07/22/12
Posts: 3
Loc: CA, USA
You read my mind! I was wondering what his script for cold dialing people were? I was thinking it might be more professional cold calling vs door knocking. I have no problem door knocking, I've done it in my area already.



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