POCKET LISTINGS BRAD LARSEN Broker & Owner of RentWerx MBA, RMP, MPM, CRMCC, TRLS, TRPM, GRI, CRS, ABR WHO IS THIS GUY?

Owner & Broker of RentWerx Serving San Antonio & Austin

Manage 900 +/- Single Family Homes

Host of the Management Mastermind Podcast

Sold / Supervised over 1,000 Sale Transactions Why Am I Qualified to Discuss This?

Licensed Texas Real Estate Broker Since 2003

Full Time Real Estate Salesperson for 10+ Years

Manage 15+ Licensed Realtors

Built and Executed Our Pocket Listing Service What Is a “POCKET LISTING”?

1) Home in Our Management Inventory

2) Owner () Wants to Sell Home Immediately

3) There is a Tenant Still In Place

4) Owner Turned Seller Wants to Sell NOW Is a Pocket Listing Legal?

YES – But, Check YOUR Local MLS Rules & Regulations

Fully Disclose to Seller You WILL NOT Place Home in MLS

Provide the Seller a Solid Comparative Market Analysis

Seller Needs to Sign POCKET LISTING Forms Disclose – Disclose - Disclose Want to Check Ours Out?

https://rentwerx.com/investor-pocket-listing-program/

RentWerx.com – Under “INVESTOR” Tab

We Partner With Investimate

We Have Used the BiggerPockets “RENTAL PROPERTY” Tool Benefits to the Seller

Minimizes Vacancy and Holding Costs

Allows for Reduced Commissions (Reducing Asking Price)

Ability to Sell NOW – Versus Waiting for a Vacancy

With No Vacancy There is No Make Ready Benefits to the Buyer (Investor)

Entire Financial Situation Completely Apparent

Current Tenant and Management Company In Place

Reduced Commissions and Reduced Price

Typically No Bidding War As in a Hot Market Benefits to the

Can Give Client What They Want NOW

Can Generate a Sales Commission (Intermediary?)

Does NOT Disturb or Upset Tenant

Keeps the Home In the Inventory Benefits to the Property Manager

Creates Another Marketing Avenue for New Investors

Property Manager Can Control Next Investor Client

Property Manager Eliminates Bidding War Nightmares

Makes PM a More Attractive Business Partner to Investors What Steps Do You Take?

Once a Seller Identifies The Need to Sell NOW:

Offer Seller a Comparative Market Analysis

Do YOU Want to Buy it? If Not – Explain Program

Present Them With Paperwork Paperwork

One Page “Investor Pocket Listing Program”

Goes Thru Questions & Answers

Explains the Reduced Commissions In Writing

Get Seller’s Approval for an Asking Price One Page Listing Form What Are the Reduced Commissions?

“Common and Customary” Real Estate Commission = 6%

“Common and Customary” Buyer’s Agent Commission = 3%

Reducing Commissions = Reducing Asking Price

Reduced Asking Price = FAST SALE! What Do The Numbers Look Like?

$200,000 Home $200,000 Home Total Possible Savings? 6% Commission = $12,000 $12,000 +/- MISC (3% Commission = $6,000) $6,000 Commissions ---POSSIBLE SAVINGS---

Average Make Ready: $3,000 Reduced Asking Price

Holding Costs: $3,000 No Repairs: $2,000 $15,000+ An Asking Price To A Buyer

$200,000 Home Now with $15,000 in = $185,000 SAVINGS Tackle the Expected

Sellers Want Max Dollar (We All Do!)

Show Best Case CMA

Detail and Explain Possible Expenses of a Roll Over

Convince Them This IS the Fastest and Best Route It’s All in the Packaging

Create a BiggerPockets “Rental Property” Report

Add in a Rental CMA and any Prior Sales CMA

Add in Current Agreement & Tenant Ledger

Include Property Tax & Maintenance Records What Does It Look Like? Inspection Tip

Owners Will Blame the PM For Not Catching Mechanical Issues

PM’s Only Conduct Visual Inspections

Encourage Annual Mechanical Inspections

Make Owners DECLINE an Annual Mechanical Inspection Realtor Marketing and Inspection MIC DROP FINAL MESSAGE www.PropertyManagementMastermind.com

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