BILL CHERRY'S GREATEST DALLAS PARK CITIES REAL ESTATE BLOG: The Prospecting of Flippers

The Prospecting of Flippers

 

Here's what the letter says:

Hey there!  We'd love to buy your house. 

If you are at all thinking of selling your house anytime soon
then please give us a call at (214) xxx-xxxx.  We pay cash
and can close whenever you want!  Also, we buy houses
as is, so you don't need to do a thing.  Please give us a call
so we can talk about it.

Thanks,

   Jxxxx and Lxx

We get at least one or two cards or letters similar to this one once or twice a week.

In this case, Jxxxx and Lxx are  both Texas licensed attorneys, Texas licensed real estate brokers, Realtors and members of MLS. None of this is revealed on the postcard.  They appear to be regular Joes looking to buy houses.

Other unsolicited similar communications from flippers play up that the Seller will
not need the services of a Realtor, so the seller will save a real estate commission
by dealing direct with the Buyer.

I've not been able to locate any required Texas promulgated form that the Buyer
would have to present and have signed by the prospective Seller before the
Buyer's presentation begins. 

There should be one that as a minimum, noticing the Seller that he should seek the
counsel of a third-party licensed real estate agent or
attorney before agreeing
to any transaction with the Buyer.

And more than once, I've opined that commercial home purchasers should be
required to be licensed and required to follow certain restrictions on their
business transactions.

In the main, the positive responses to these solicitations come from the elderly
whose homes are paid for, and who no longer can take care of their homes.

The services of educated, professional, experienced real estate licensed brokers and
agents are  not chopped liver.

BILL CHERRY, REALTOR
Since 1966
Dallas
214 503-8563
WEB

 

 

Comment balloon 4 commentsBILL CHERRY • April 30 2017 03:57PM

Comments

Bill,

I'm with you . . .  we're being attacked from many fronts.  The general consumer has just enough information to be dangerous to themselves.

Posted by Will Allen (Concept 360 Property Management) over 1 year ago

Will, I have sent actual copies of several of these communications to both the state real estate commissioner and the local board.  None seemed to find anything wrong with the practice or the language of the solicitation.

On the other hand, we are required to give potential sellers and potential buyers a specific form, in advance of beginning our representation of them, saying what our service is and how we are remunerated. 

The whole thing is upside down.

Posted by BILL CHERRY, Broker & Wealth Coach (Bill Cherry, Realtor) over 1 year ago

It is weird that they do  not find anything wrong with the fact that authors do not disclose that they are licensed professionals.

Posted by Jon Zolsky, Daytona Beach, FL, Buy Daytona condos for heavenly good prices (Daytona Condo Realty, 386-405-4408) over 1 year ago

I agree with you.  It annoys me to no end.  I have complained to the state, the Texas Realtors Association, etc., and I seem to be the only one who cares.

 

Posted by BILL CHERRY, Broker & Wealth Coach (Bill Cherry, Realtor) over 1 year ago

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