Realtors: Does the car I drive matter? |
- Does the car I drive matter?
- Question on advertising cash offer and signing a flat fee listing agreement in lieu of wholesaling.
- Couple questions about outgoing referrals.
- Home Show Ideas - Interactive and Fun
- Referral-only side business
| Posted: 01 Mar 2020 11:15 AM PST Quick question for you all, Do you think the car you drive matters? I'm a younger guy and I have a Subaru WRX STI (for those of you that might not know it's a blue car with a big spoiler on the back and gold rims) it's new and comfortable and definitely not "ratty" but more of a loud and eye catching car, does this matter when I'm around clients? Should I consider getting a more normal/professional car? Thanks! [link] [comments] |
| Question on advertising cash offer and signing a flat fee listing agreement in lieu of wholesaling. Posted: 01 Mar 2020 05:34 AM PST Hi, I just wanted to start by saying I pride myself in being a realtor and doing things the right way, which is why I am here seeking advice from the community on their feedback. My question is this. What if I were to advertise that I could provide a cash offer in 24 hours or less, similar to a lot of the i-buying phase we are seeing now. I would then generate a lead and go and visit the lead on an appointment. I would then at DISCLOSE at first contact that I am a licensed realtor, and then provide them with a consumer information statement and answer any questions that they have about the laws of representation. I would inform them that I work for an investor (which is true) that is looking to purchase properties for cash, and has authorized me to make offers on their behalf (which is true) and I would have an interest in making an offer on their property acting as the principal buyer. I would then have them give me a tour of the property. Let's say I then made a legitimate offer for $70,000. Then let's say the seller declines but says they would sell for $80,000. I tell them I cannot do $80,000 but if they wanted to sign a listing with me for 6 months, I might be able to get them something closer to what they were asking for. I explain possibly we could try to get them matched with a higher end user, but there is a higher fee involved. If they are happy with 'Netting' $80,000, I would like to have their permission to list the property for $92,000 to help cover this fee. I would then review the cost break down, explaining how closing fees worked (commission fee, transfer fee, title fee, loan, lien and tax payoff etc) Then I would list the property in the MLS with the normal procuring fee of 3.5% (flat fee $2,870 and keep the rest of the flat fee (with my broker of course), the remaining $6,970. I don't feel this is unethical (in concept) for several reasons. 1.) I feel they are better represented by a licensed realtor with full disclosure than a wholesaler, who may not be disclosing fully, letting people in and out of the house unlicensed, in addition to a plethora of other things. 2.) Commission rates are negotiable, as stated by the REC. 3.) I'm providing a service by getting them the amount they wanted too or close too it, while fully disclosing what they will actually be netting, which is an advantage over even some agents explaining exactly what they net break down will be after fee distribution, transfer tax, title fees, loan pay off etc.) 4.) If I am working with a property around $36,000, 6% doesn't warrant me doing all this work for $1,000 before split and before taxes. So I would be inclined to provide a service by getting the seller the equity they wanted, that may have never happened if I wasn't able to help. [link] [comments] |
| Couple questions about outgoing referrals. Posted: 01 Mar 2020 10:55 AM PST
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| Home Show Ideas - Interactive and Fun Posted: 01 Mar 2020 02:22 AM PST I am working a booth for a well know brokerage at a home show later this month for Fri/Sat/Sun. There will be about 25k people in attendance based om last years numbers and I am looking for ideas om how to connect with people. I have no problem taking with people, rather, I am looking for fun ideas which could get the average passerby to stop and be engaged with me and my colleagues. There will be other brokerages there ie. KW and REMAX and I would like our booth to be different than anything else out there. Short of handing out baskets of puppies, what are some creative ways you think we could make our time engaging and fun? An idea I was thinking of is somewhat similar to the scene in the Big Short where CDOs are being explained using Jenga pieces, but labelling them with steps important to selling or buying ie. Pre approval, home inspection complete, Property Disclosure statement. My colleague said this was stupid but I'm not convinced. Thoughts, ideas? Appreciate the help in advance! [link] [comments] |
| Posted: 01 Mar 2020 08:45 AM PST Wondering if anyone has made steady side income referring friends and family to other agents for commission splits. I'm contemplating this as a "get my feet wet" entry to real estate while deciding if I want to transition careers and do it full time. [link] [comments] |
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