Newbie investors are a funny bunch. I should know because I used to be one. Luckily, I was a real estate agent before I started investing, so I already knew how to work with real estate agents. But every once in a while, I receive a funny email from a newbie real estate investor who wants an agent to dedicate a lot of time to researching properties for them, with little hope of getting paid in return. Following is an email I recently received from a newbie investor:

“Message Body:
Dear agent,

I’m an aggressive real estate investor and I am looking to grow my cash buyer’s database. I want to work with you personally so that we can build wealth together. All I need you to do is send me a spreadsheet of all the properties that were sold in the last 90 days for cash. I’ll need to know where the property is located and the buyers first and last name if you can get that. Also include the list price and the actual sale price. What I’ll do from there is market to these cash buyers explaining that I have ways to find amazing deals that no one else can and that I want to bring them deals on a continous basis. For every buyer I find on that list that I end up passing a property off to for a profit, I will give you 15% of whatever profit I make. Not a bad deal for just sending me a simple spreadsheet right? Again, I hope to work hand in hand with you so that we can increase our profits and build our wealth together. I look forward to working with you.

In Kind,”

Yes, the “message body” and “dear agent” sections were part of the email. This person sent the message through the email function on this blog. He probably should’ve taken the time to read my blog post about how real estate agents earn a living.

Of the many problems with this request, the main problem is that the newbie expects me to take time to research information on cash transactions, compose a detailed spreadsheet for him, and hope to get paid. I’m not sure if newbies are being told to do this by some investing guru, or if they’re just hoping to find an agent desperate enough to work for free. But many newbies try it, and the approach simply doesn’t appeal to agents.

The best way to avoid having your email ignored by an agent is to present a reasonable offer, and take time to meet the agent in person. This will demonstrate the seriousness of the investor, and help establish clear expectations from the beginning. Asking an agent whom you’ve never met to take time out of their busy schedule to work for free is not the way to start a business relationship.

And no, I didn’t ignore the email. I kindly replied that I wouldn’t be able to help him, and wished him the best in his endeavors.