Step 2 – Listing Agents
In Step 2, you’ll find step by step instructions on 1. How to find listings that meet the Piggyback Loan Program and 2. How to prep to contact Listing Agents.
If you ever get stuck on a step, simply go back.
Step 2a:
* Go to: https://www.Loopnet.com or click the logo to your right to gain access to the site
* Click the For Sale tab
* Type in your assigned state and once it populates, click on it
* After clicking, it will take you to the next page
Step 2b:
* When you get to the next screen, click All Filters.
Step 2c:
* Starting from the left side, in Property Types:
1. Click the Office arrow and select all except Medical
2. Click the Industrial arrow and select all except Truck Terminal
3. Click the Retail arrow and select all except Service/Gas Station
4. Click the Shopping Center arrow and select all except Theme/Festival Center
5. Click the Multifamily arrow and select all except Dormitory and Manufactured Housing/Mobile Home
6. Click the Specialty arrow and select all except Marina and Religious Facility
* In Property Use, uncheck Vacant/Owner-user Properties
* In Condos, click Exclude
* In Portfolios, click Exclude
* In States, your assigned state should already be there. If not, put in your state
* In City, leave it blank
* In Investment & Sale Types, uncheck Auctions and check Exclude Pending Sales
* In Price, enter $100,000 to $2,000,000
* Click Search
* Click Sort arrow on the top right corner and click Price (low to high)
* Before moving to the next step, check the All Filters tab, if it doesn’t have a (6) in the tab, go back and find what’s missing.
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Step 2d:
At this point, you should see listings now. Start with the first property and work your way through the list. Properties must be INCOME-PRODUCING so the following property listings are a NO GO:
* Condos
* 1 Units
* Vacant Properties
* Properties that need repair
* Gas Stations
* Under Construction
* Religious Buildings
* Mobile Home Parks
* RV Parks
* Medical Buildings
To be successful, it is very important to be organized. Click the MS Excel logo to the right to download PropertyListings.xls and save to your desktop.
If you can’t open the document, CLICK HERE to download the free software to use.
Step 2e:
* Photos:
From the beginning of your list, work your way down by clicking on each listing and scroll through the photos first to see if the property is a good fit.
* Property:
You have to make sure that the property is Income-Producing and not any of the following properties in Step 2d. Read the Executive Summary and the remaining parts of the listing to confirm.
* Excel Spreadsheet:
If the property is a go, open the Excel Spreadsheet, copy & paste the link to the property, add the state, add the Listing Agent’s name and number by clicking on the Call button.
* Complete Your List:
Continue adding the remaining information from the other listings onto the Excel Spreadsheet until you have completed your list. If you have over 100 listings, continue until you at least have 50+ listings in your Excel Spreadsheet.
Step 2f:
At this point, you should have at least 50+ listing in your Excel Spreadsheet. Now it’s time to start calling the Listing Agents. DON’T MESSAGE THEM! Pick up the phone and call!!!
* View the script to your right.
* Read it a few times
* Think of the questions you may receive to properly prepare yourself and also read the Q & A in Step 3g
* Make sure you have a clear understanding of the Piggyback Loan Program as you will have questions
* Do what you need to do to get a clear option either Option A or Option B
* Don’t take no for an answer
* If you call the Listing Agent and receives their voicemail, leave a message and remember to include your full name and contact number
* When you talk to the Listing Agent, get their email address and add to the Excel Spreadsheet
* Confirm their cell phone number then text them your landing page/link if you paid for one. If not, text them the Listing Agents’ website from Step 1d
(www.PhoneOpsFunding.com/ListingAgents)
Script:
Hello (Listing Agent’s Name), my name is (your name) and I am a Mortage Account Executive with PhoneOps Funding.
I see that your listing on (property address) fits our 100% financing program.
I’m calling you because I would like for us to Partner together to bring you a buyer for this listing and all future listings. I have 2 options for you:
Now to partner with us, 1st put 100% Financing Available, Apply Today! RARE OPPORTUNITY!!! on your listings and when buyers call you, simply send them to our site to get approved for financing.
With Option A: You don’t have to help each buyer with the 3-Step Process. Just send them to our site and our Processing Team will take it from there.
With Option B: 1. You register with us to be added to Payroll and 2. Help each buyer with the 3-Step Process then our Processing Team will take it from there.
At closing, you are paid a quarter point (0.25) of the 1st lien loan amount for providing a service to PhoneOps so that’s 2 checks at closing instead of one.
We’ll get your buyer funded and your listing sold. You get Dual Commissions on the real estate side plus a 2nd check from PhoneOps on the mortgage side so this is a win-win all for partnering with us today!
Which option is best for you?
Step 2g:
Rebuttals for Listing Agents
It is very important to know the Q & A section.
Click the Q & A logo to your right to view and study all the questions and answers to properly prepare yourself with questions you may receive.
If you have additional questions, email our Processing Dept with all your questions and the questions along with the answers will be posted.
Step 2h:
Follow-Up Calls
It is very important to do follow-up calls EVERYDAY!
It is very important to stay in contact with each Listing Agent that you called and left a message with as well as Listing Agents calling you back and emailing you.
If you called a Listing Agent and 2 days has past and no response, Call the Listing Agent again and continue to call every 2 days until you hear back.
