Request Showing

During: Buying Process Overview: Showings: Request Showing

Request Showing is all about how to request a showing on a property you’re interested in seeing in person. It is the first step in the Showings process.

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The Request Showing process is shown below.

Look at properties as they come on the market

Review properties as you receive them to see if it something that you would consider and should run your analysis using the deal analysis spreadsheet.

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Analyze property before requesting a showing

Analyze properties daily as they come in from automatic property searches. Save a copy of Brian's Deal Analysis Spreadsheet for each deal you analyze in your Dropbox folder for this deal/purchase.

If the deal looks interesting after analyzing it, request a showing.

Mark this task complete once you've analyzed deals for the day.

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IF PROPERTY LOOKS INTERESTING: Create property folder in Dropbox

If the property looks interesting and you're considering it, create a property folder in your Dropbox folder.

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IF PROPERTY LOOKS INTERESTING: Save analysis spreadsheet to your property folder

If the property looks interesting and you're considering it save a copy of the deal analysis spreadsheet for this property to the property folder in Dropbox.

Use the file naming convention:

"YYYY-MM-DD - 1234 Main St - Analysis Spreadsheet.xlsx"

Where YYYY is the four digit year, MM is the two digit month, DD is the two digit day of the month and 1234 Main St is the street address of the property.

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IF PROPERTY LOOKS INTERESTING: Request rent comps from your Real Estate Broker

We are currently testing this as a service, but we've subscribed to a company where we can pull rental comparables for properties.

If you are analyzing a property and it looks interesting, you can email James and Tammy and ask them to pull rental comparables to see what fair market rent might be on the property.

Be sure to include the following in your email request:

  • Address of the property
  • Number of bedrooms (required to do rent comps)
  • Whether it is a SFH or apartment (the two choices for rent comps)
  • Whether you want just the report or the report and the CSV of the rent comps data if you plan to do some additional work on the data yourself in Excel

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IF PROPERTY LOOKS INTERESTING: Email Real Estate Broker to request showing

If after analyzing the property it looks interesting, request a showing by emailing your Real Estate Broker.

TIP: If you're working with James and Tammy, be sure to email both of them since James may not be in his email and Tammy could setup up the showing before James will even be back in his email. If you just email James, he may not even see it until much later and then he'll typically forward it to Tammy to setup the showing.

Be sure to include:

  • Property address
  • MLS number if possible
  • Your availability to be able to see the property (provided the Seller can accommodate that day and time)
  • Any additional questions you might have about it (if any)

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  1. What we need to schedule a showing:
  2. Properties you want to see
  3. Provide the MLS Number or full address of each one
  4. When can YOU see the property? (Your Schedule!)
  5. May be limited by what the Seller or Tenants will allow (Their Schedule!)
  6. Better to go during the day
  7. Properties are selling very quickly so Don’t Hesitate – go ASAP!
  8. See Days On Market chart…

What happens after your request a showing?

  1. James checks listing status
  2. James verifies if the properties are still available
  3. Not already under contract
  4. Active/Backup, Pending, Sold, First Right, Withdrawn, Expired
  5. Read “secret” broker comments
  6. These can tell us if a property is accepting or presenting offers at a certain time
  7. If they have multiple offers already
  8. See if the property is paying less than agreed to commission per Exclusive Right-To-Buy Listing Contract
  9. Have conversation about that and how it works before you see it
  10. Print out MLS sheets (agent and client version)
  11. One clipboard for you
  12. Request your favorite color!
  13. One clipboard for James
  14. Ordered by optimal driving route as much as possible
  15. Scheduled about 15 minutes apart
  16. James calls Seller’s agent or showing service to schedule showings
  17. One or more things could happen

Scheduling a Showing with Seller/Agent

  • Option 1: They confirm showing and we can “go and show”
  • Option 2: They need to ask permission from Seller
  • Seller may approve showing
  • Seller may decline showing
  • They may not be able to reach Seller
  • Option 3: They need to ask permission from Tenant
  • Tenant may approve showing
  • Tenant may decline showing
  • They may not be able to reach Tenant
  • Option 4: They may have limited showing times
  • Different days/times than what we’re trying to do
  • Many times, multi-family and tenant occupied properties have a 24 hour notice

Once you’ve requested a showing, we will send you a Buyer Tour.

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Improvements

The following are improvements I plan to make to this page based on some of my Standard Process Improvement Questions.

  • Consider making dynamic process charts.

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  3. Sponsor Read "Prepare for Investor Meeting Checklist"
  4. Sponsor Read "At Investor Meeting Checklist"
  5. Sponsor Read "Before for Real Estate Agents"
  6. Sponsor Read "During for Real Estate Agents"
  7. Sponsor Read "After for Real Estate Agents"
  8. Sponsor Read "Lease Option Ad for Property Listed in MLS for Clients"
  9. Sponsor Read "Standard Process Improvement Questions"

IMPORTANT NOTE: This checklist is based on what I personally use with clients in Northern Colorado. Please rely on your local real estate agent for how it works in your local real estate market. This process will definitely vary in different States.

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