Posted by John Behle on August 25, 2006 at 15:01:57:
In Reply to: 2 Questions re: the article: posted by Mark A on August 24, 2006 at 22:36:58:
The agents only knew what to look for and how to negotiate, present offers, etc. because I taught them how. They were my agents licensed under me and I gave them individual training when they first started and ongoing training through weekly sales meetings.
They didn't necessarily know why I looked for what I did or how I made the deals work, they just learned the parameters of what I was looking for. I usually went with them on the first few offers or any time they felt they needed help. One example is a 21 yr. old young woman who was intimidated by an agent that had just received his CCIM designation. I remember that one well because he kind of grabbed the offer out of her hands and then I had to spend the next 45 minutes trying to tactfully explain to his giant ego that he had not read it right.
The agents were trained by me, provided leads that I generated off of the computer, provided an office, desk space, phones, a 100% commission split and good ongoing education. It's an ideal scenario for an agent.
I've never written a course on the subject or written up more than just that one article, so there is no further resource. Bank and investor financing was used mostly to refinance properties. We would generally go in with cash or trading paper and then needed to get our cash back out. For that myself and partners used conventional financing and had one mortgage broker working full time just on our deals.
Most of the properties were just resold quickly using seller financing. We would price them for little or no down at market value with seller financing. An ad in the paper generated massive numbers of buyers and we would just choose the best one and sell the properties in a day or two. Similar I suppose to the "programs" out there that seem similar. I was just doing it almost three decades before they wrote their courses.