The Science of Flipping - MLS Success: Building Agent Relationships for Real Estate Dominance

Episode Date: August 29, 2023

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Yo, yo, welcome back to the Science Flipping Podcast. I am your host, Justin Colby, and these episodes are always brought to you by MinutePages.com. If you're an investor or an agent and you are looking for professional websites, go to MinutePages.com and get yours now. All right, guys, welcome back to this episode.

Today's episode is about how MLS has changed and how you can dominate it. Now, we're all aware of a great, incredible software, Privy. If you want to check out Privy, go to privytsof for the science of flipping.com and use promo code science2023. Go to privytsof.com and use promo code SCIENCE2023. Well, Privy has opened up the MLS in roughly 100 cities nationwide. That has been a game changer, especially for someone like me. If you're just getting started, this should be your number one way to find a deal because there's very little to no marketing costs because Previ is $97 a month.

But let me tell you why this is such a big game changer and what has changed so you too can be getting deals from the MLS and dominate. Well, here's the reality is I started my business, broke, busted, and disgusted as many of you guys are aware. I lost my home to foreclosure. I was living on a friend's couch and the repo man took my car. Now, back in 2007, the only way I knew to find a deal at all was through realtors. That's the only way I figured I could go find a deal. I didn't know about off-market marketing, direct-to-seller. There wasn't really a wholesale network, etc. So back then, there was no Facebook and there was no YouTube and there's no other great resources and there for sure was no Privy. So the only way I

could find a deal with these realtors was to go to realtor.com and call realtors one by one from Starbucks. Now I was broke. So I had to go and essentially as long as you stayed in Starbucks, they would allow you to drink a coffee for free as long as you stayed inside Starbucks. So I kept getting refills, refill after refill. I have to hop up on my coffee, little shout out to Starbucks. And I would call these realtors, say, hey, I'm a local investor in your market looking to buy a great real estate investment deal. What do you have for me? Or what listings can I take a look at? Now, I didn't know if they had listings, but I was reaching out to see if they had something I could work with. Well, that led to me getting my first deal in nine months. Now, for many of you,

you might be struggling to find a deal. It took me nine months to get a deal. So if you are under that nine month time frame, stay in the game long enough to win the game. With that said, that one deal led to my second deal, third deal, etc, etc. And so the MLS and agents essentially got me my first 20 deals. Now here today, we have something called Privy. We are able to leverage Privy in roughly 100 different cities across the United States. Now, many gurus and coaches, including myself, promote Privy as an incredible software, not for the affiliate income per se. It's because it actually works. And here is what I believe is the game changer. If you are working on the MLS, whether you're using Privy or maybe you actually have MLS access yourself, and you are thinking too much about the deal, this is where

I really want you to concentrate on this episode. This is it. This is what you got to be writing down, right? If you are concentrating too much about the listing and not enough about the agent themselves, then I've already beat you. I'll say that again. If you're concentrating too much about the home, the size of the home, bed, bath, when people have done repairs, everything about the home, and you're missing the building the relationship with the agent, then I'm going to already beat you. You're missing it. The real deal is you need to work the relationship with the agent, not the actual listing, because we all know most of these I'm going to already beat you. You're missing it. The real deal is you need to work the relationship with the agent, not the actual listing, because we all know most of these listings are quote

unquote deals. But what can happen as long as the agent understands what your business model is, that you are an investor looking for problem child properties that you can add value to, then it may not work on this one listing, but you may get a call in two weeks, four weeks, six weeks saying, hey, I have a property that I think will fit your mold. Let me send it over to you. And that is the game changer. Now you combined that with nurturing the relationship with that listing. So I can't tell you how many times my own offers get rejected. I mean, at this point, thousands. My team is thousands of offers that get rejected, right? And you guys may be feeling that as well. Oh, it's so hard to find a deal and they keep

getting rejected and I can't get close enough to the number. That's okay. Nurture the relationship. I had the honor of hearing an incredible speaker this weekend, Ari Rastaker, who has created a $7.8 billion real estate evaluation in eight years. And he said something that made massive impact on me. So I'd encourage you to write this down. He said, every deal ends with a person. That's huge. I took a pause there intentionally because I believe that people are the way you make money. Your network is the way you make money.

As you guys have probably heard me say recently, me and Bradley were talking and Brad told me, every deal, every dollar you've ever made was directly connected to a relationship you created before the dollar, right? Ari says it in a different way. He says every deal ends with a person. So if you guys are going after these listings, concerned about the listing, then you're missing the boat. You're missing why I'm able to do a volume of deals on the MLS and maybe you aren't,

is because I'm more concerned with the person, the agent, than I am the deal. I might not get the deal. The offer might get rejected. Most likely will get rejected. But my intention on following up with the agent, outreach to the agent, even if that deal sells and I can't get it, and to continue having the relationship to say, hey, I'm still looking for a great investment property.

Here's what I'm looking for. I'm looking for problem child properties, homes that I can add value to. And that relationship will provide value later on down the road. I have many students now finding success in this exact same tactic. I referenced Johnny, one of my students, Johnny, who I think in the last four months has gotten 14 deals done and collected checks on from the MLS. I think he has another two already set to close and he just contracted another two all in the last four months because he subscribes to what I coach him to. And so this is how you dominate the MLS. You don't worry as much about the listing. You care more about the person, the agent themselves. And if you do it

the right way, then you're going to be able to get those deals done and you don't need a big marketing budget to do it. Now, if you are interested in talking to me about coaching or talking to my team about me coaching you on these and more processes to get deals done, then just go over and fill out a simple form, justincolbycoaching.com. Go to justincolbycoaching.com and either myself or one of my directors of coaching will reach out and talk to you more about what that coaching looks like. But this absolutely works. And this is just one out of my three point processes strategy that works in our business and it can

work for you too. So hopefully this was impactful. I hope you guys took a lot from it. And I look forward to seeing you guys on the next episode. And if this made an impact on you, make sure you go to justincolby.tv and share this episode. Oh yeah, and subscribe. See you guys later. Peace.