[DON WEDE]

DON WEDE

Jackie,

You peeked my interest again on “Highest Bidder Sales”. Of course I thought about all of this after the call was over and could not contribute last night. Bare with me you may have explained this all before.

I just don’t get it. Why are you able to find a buyer when the Realtors are comming up blanc, or an auctioner could not do the same?

Are the buyers selling at a steep discount from fair market value? Are the houses free and clear and the owner is willing to carry back? Or is it just your superior marking with the internet and signs?

I know it is not just one thing, but it is perplexing why you are having success on these properties and other “perfesionals” are not.

Have most of these houses already gone through the Realtor loop?

Don Wede

[Hank Baltar]

Hank Baltar

Sounds like a great topic to review again for a Tues night after the 18 wk series. I haven’t looked to find it, however a Tues cc should be recorded on CFD from about a year to 18 mos ago.

[Jackie Lange]

Jackie Lange

Don

I don’t understand how most realtors can consider themselves a “professional”

the full extent of their marketing consist of putting the house on MLS, sticking a sign in the front yard and hoping & praying that some other agent stumbles upon a buyer so they can split the commission. ( and a high percentage of the time they screw up the listing with bad info or forget to put the sign in the yard)

Auctioneers marketing campaign consists of two things: (1) send a postcard or letter to people on their existing list and (2) sending a postcard or letter to realtors in the area. They are NOT reaching a large fresh buyer pool with either of these. To make matters worse, they do a short 1 day open house, then a few days later ( after the potential buyer has cooled off) they do a fast 5-15 minute live auction where a buyer is expected to make a quick decision.

I don’t do any of that!

I put together an extremely aggressive marketing campaign that has cash buyers coming out of the woodwork. I give buyers 2 days to preview the house and submit their bid ( and see that there are a lot of other people who WANT the property, then I do a round robin auction where buyers are competing for the property.

I usually sell at very close to full retail and sometimes over what I would consider retail. Keep in mind that this is retail today, not prices from 2 years ago.

Sometimes the houses are free and clear, sometimes there is a mortgage, and sometimes I have negotiated a short sale.

[DON WEDE]

DON WEDE

Jackie,

Thanks.
I was using the word “profesional” tongue and cheek. I agree upon your assessement of these so called “profesionals”.

Thanks again for your time, information, and view point.

Don Wede

[DON WEDE]

DON WEDE

Jackie,

I thought, as Hank did, that there were several confrence call a year or so ago on Highest Bidder Sales. It seems when you updated the site they were lost. Is there any information on Cash Flow Depot that you can direct me to on this subject.

Don Wede

[Hank Baltar]

Hank Baltar

It’s interesting that we’re chatting about HBSs right now. Just today a gentleman who is going to rent a house from me mentioned that he has a small commercial property in Marietta GA that his longtime agent hasn’t been able to sell in over a year and the agent wants to relist. We are to speak about the details & specifics of his property tomorrow. He told me enough about it for me to know that it’s prime for an HBS for highest money down with owner financing (which he’s open to after this CFD trained person asked him if he had considered owner financing). I just need to explain the benefits to him and have him give me a shot at helping him and me.

I’ve only done a couple little HBSs however they are fun and quick if you’re open to Jackie’s teaching. I can see how they are very lucrative with the right properties.

[Jackie Lange]

Jackie Lange

Hank attended one of my highest bidder sales in Colorado and he know first hand out much fun it is.

I have all the videos and audios which were on the old site. They have been moved to a new server. If some of it didn’t get transferred, i can get it done
but it may be november because I’ll be suprer busy next week.

I can set up a special section for highest bidder sale stuff only to it will be easier to find.

[DON WEDE]

DON WEDE

Jackie,

I know you are busy. When you get to it you get to it. I and I am sure all of us are thankful the time you put into the site. A special section for it would be great.
Wish I was going to Lonnie’s next week, but prior obligations prohibit. Bad timing.

Don Wede

[Brett Ramsey]

Brett Ramsey

Hi Jackie,

This is Brett Ramsey & you helped me renew my subscription last week, quick question please……regarding your highest bidder sale technique, when you say here in your post — and I know this may be an old post — sometimes you may have negotiated a short sale with the seller’s lender if there is a mortgage on the property — I’m fuzzy on how you may make money with the short sale & you may have answered this question before, but does the seller’s lender allow money to made by someone if they must take a loss on the short sale? How do you get around the lender knowing that there was excess money on the table that might be made & it won’t be coming to them as the lender. Lot of good information on the call Tues & I’ll need to go back & replay the call sometime. Thank you.

[Deb Krantz]

Deb Krantz

Jackie did a full session on this topic at the CFD meeting in Dallas Jan, 2010. Maybe Jackie has a video from that session, although I don’t remember that it was recorded.