Using Realtors For Leads...?

Rob Pankow

I've heard of contractors working with Realtors for REO or PP work, does anyone actually use them for lead services? For some people it makes sense to move to a bigger house down the street than to stay in their current home and do a remodel . I see a lot of people are choosing to buy houses while prices are so low and then do start a remodel in their new home because they feel like they got such a good deal on their house .

Does anyone actually use Realtors for leads and is there a standard percentage or fee for these leads? Any suggestions or feedback would be appreciated

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A. Spruce

It depends on what you are looking for. Agents were a big part of my business. They sent me pest work, and many of those leads turned into repeat customers doing remodels, upgrades, and various other things. If you're looking to get into PP, then you have to go to the source - lenders/mortgage holders, city/state agencies that deal with foreclosure blight, etc.

Mike's Plumbing

I do, I use them all the time. And no, I don't pay anything I can't imagine.

It's all about building relationships. Realtors love to find a contractor they know is dependable, no stress, quick, and honest. Realtors work on reputaion so as soon as they find a person that can protect that reputation they hold on to you.

Another way is forget the realtor all together and research homes sales in your area. Many new homebuyers want work done right away and I get a ton of business that way. I know a remodeler that does the same and he is always very busy in fact we work together on projects.

You have to get'em while their hot!

Mike

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AmeliaP

It depends on the agent.

We do this to a small degree with agents we know and work well with but we don't pay them. I do send them something around the holidays as a thank you.

When I used to work in RE we had guys come to our sales meeting almost every week to give a presentation of their business. Bring tasty finger food - agents love that!

Rob Pankow

Awesome! Thank you for your replies!

I am a General Contractor specializing in home remodels, so that is what the leads would be for. It's been a while since I've been in the loop with Realtors so I can't say I have any "strong" relationships with Realtors, although I know a few. It just seems like I would be using them for leads and feel like compensation is due. I'm surprised nobody pays anything

Does anyone know a good trick to get a Realtor to spread your name? I still feel like the best way to motivate them is with a percentage of the remodeling cost....any suggestions?

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AmeliaP

Legally (at least in PA) any agent has to provide 3 names if a customer asks for a referral for a service. Agents aren't supposed to lead a customer to a service provider. This prevents collusion.

The % of the remodelling could be a real sticky situation because the agents could - and some absolutely will - gloss over home problems to make more on the back end with you. That is bad news for the customer and illegal for the agent. It may also earn you some legal or reputation issues.

It would look like a kick back for selling a ****ty house.

Go to their meetings/stop by the offices, bring tasty treats (donuts and chocolates and such) - don't pay them.

Cole82

Exactly couldn't have said it better.

I first got on the realtor local listing through my insurance agent. It's updated ever year so you have to sign up every year but it works.

Also most larger realtors put a welcoming package together that has coupon's and local business listings. Pay to get your add in those books as well.

Cole

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What is this "work" you speak of?

A. Spruce

I marketed specifically to agents with good reputations. From there it was just a matter of doing a few jobs for them and they started calling me on a regular basis. Most of what I was doing was pest work, but since I worked directly for the seller, that frequently led to repairs and remodels on their new homes as well.

To be honest, I don't know that you're going to get much remodel specific work from them, though I suppose it's possible if that is how you market yourself. You should still expect to do a bit of pest work until they get to know and trust you.

Rob Pankow

Thank you for the replies!

This helps a lot. I imagine it would start out as smaller stuff, but once your in the door you able to represent yourself.

Hey Cole, i noticed your from Cedar Rapids, what part? My entire family is from there...marion, hiwatha, lynn county, iowa city, cedar rapids proper....good town i love it there! Used to go every summer. Family last names are Harrington, McDuffy, and Reisner.

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Cole82

I'm on the west side of CR. It's not a bad little town. Shoot me a pm next time you come to town. Reisner's ring a bell.

Cole

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What is this "work" you speak of?

Rob Pankow

What exactly is the realtor local listing?

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Cole82

It's a list of credited contractor's that are insured, licensed etc..... Without haveing to go to the yellow book they can look on this list. I'm really not shure just ever year my insurance company asks if I want to be on the list this year. I allways say yes as it has become very proffitable. I allways ask how people got my name to see what marketing is working. Every realtor has said "realtors local listing".

Cole

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What is this "work" you speak of?

Rob Pankow

I hate to be a nuisance but I'm having trouble finding a "realtors local listing" on the internet. Do you know anything else about it or a website I can view that has more information?

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Cole82

I'll call my insurance ajent tomorrow and find out for you because you got me wondering now too. Just googled it myself.

Cole

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What is this "work" you speak of?

MagicPoolSvcs

Good lead source, but not your primary lead source.
Like anything, there is good and bad apples.

My experience has shown that you only need a few realtors to work with, otherwise most realtors want the lowest prices, hard to pay etc.

Just my opinion though.

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Mike's Plumbing

Rob......

The realtor is not who you get work from, you get the work from the NEW homeowner. It's important to uderstand this because a person who buys an existing home is NEVER 100% happy. Buying used is a compromise and you profit from WHAT'S COMPROMISED. Not all of them are going to remodel but many of them have a dream list before they move it, they made the list 30 minutes after they signed on the dotted line. The realator uses YOU because YOU make the realtor look good.

You can capitalize on this, I know for a fact becuase I have a remodeling friend who does this every week.....and I of course do the plumbing.

Being proactive is very profitable, do what the others refuse to do. It's as simple as that.

Amelia is right about collusion, fortunatelly nobody actually follows the rules when thier reputation is at stake. Provide "gangbuster professional service" and the realtor will be afraid to recommend anybody else.

Mike

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Mike's Plumbing

Forget the listing, 9 out of 10 realtors wont be around this time next year. Only speak with the top realtors.

Seek out and find a realtor named Ann Morgan, she works for Coldwell Banker. Ann is motivated and well known, she's a player and a closer.

Schedule a sit down meeting with her and explain your intent. She will tell you everything you need to know.

Mike

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Cole82

Ok so I just got emailed back. The National Association of Realtors is what the place is, my insurance company advertises with them. I'm listed in the add/list as a Trusted contractors one of about 200 in the list. She made it sound like it's big flyer or magazine that gets mailed to the realtors on that national association.

Here is the website
http://www.realtor.org/

Cole

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Cole's Custom Creations
Cedar Rapids, Iowa

What is this "work" you speak of?