Carl and Michelle Kendall are a busy, successful real estate team for Keller Williams in the South Florida market.
Their bread and butter? Distressed properties.
“Bottom line, in our market, something is better than nothing,” they told us in a recent conversation. “We do countless BPOs [Broker Price Opinions] for banks so we have a strong market presence. Lead capturing, generating and advertising are our keys.”
How do Carl and Michelle pinpoint the perfect diamond in the rough?
“Market knowledge is crucial. Follow tax records for lis pendens and liens and communicate with other agents,” they said. “Do your homework and you’ll find your diamond in the rough.”
They know what they are talking about, too. With little more than five years of experience in the REO business, Carl and Michelle have sold distressed properties ranging from $1 to $4.2 million.
One of their short sales was approved in just a week and closed 30 days later. Another distressed sale – one with a $5 million price tag – stayed on the market a whopping nine days and closed in only two.
What is their amazing secret? It may surprise you (or if you’re succeeding yourself, it may not.)
“We work seven days a week, 12hours a day,” they said simply. “We follow up on every lead; no deal is too small or too big – that’s our motto. Do the basics. Do social media. Answer your phone, even after hours. If you can’t work for all of your buyers, refer them to other agents who will be happy to pay you a 25 to 30 percent commission.”
Keep up the good work. And thanks for sharing your valuable advice!