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    Friday, April 3, 2020

    Realtors: What is the realistic cost of starting and operating for the first year?

    Realtors: What is the realistic cost of starting and operating for the first year?


    What is the realistic cost of starting and operating for the first year?

    Posted: 03 Apr 2020 01:20 PM PDT

    In the process of getting my license so I'm mega curious about how much I'm going to spend and where the money is going to be going to. I've searched and there's little bits of information like $500~ a year to MLS or desk fees but nothing laid out or going into too much detail. Is the $500 for the year up-front or on a month to month basis? Things like that.

    How much should I have ready to spend on day 1 and how much is it going to cost me to operate for the first year?

    submitted by /u/SilentStay2
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    Remote closing options during COVID?

    Posted: 03 Apr 2020 08:20 AM PDT

    I'm asking for myself to facilitate some refinancing right now, but figured it's a topic of interest to the group given the number of clients out there facing a similar problem. Anyone found options/aware of considerations for fully remote closings to include virtual notarization?

    I'm currently outside the US in a country that is shutdown to prevent COVID spread, to include FedEx/DHL/UPS. I may be able to get the embassy to notarize for me as a favor, but even the Diplomatic Post Office is closed.

    submitted by /u/JFman00
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    Do you use a transaction coordinator?

    Posted: 03 Apr 2020 12:35 PM PDT

    I am getting licensed and my realtor friend thinks I'm crazy for not automatically getting a transaction coordinator. How many of you use one and why or why not?

    submitted by /u/eeveh
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    Growth during COVID-19

    Posted: 03 Apr 2020 03:01 PM PDT

    Hello Fellow agents , I hope you're staying positive during these weird times and hanging in there . Since some of us may have down time , would are some good things to do to expand our knowledge...such as books, videos or any learning material that will make us come out stronger at the end of this all?

    submitted by /u/MhmSomethingClever
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    HomeSmart Realty is recruiting me. Anyone know anything about them?

    Posted: 03 Apr 2020 02:43 PM PDT

    I searched "HomeSmart" in the search box and I didn't see anything about them so I feel free to ask about them.

    HomeSmart Realty is opening a brokerage in my area and the broker has reached out to set a time for us to talk about me joining them.

    I've been an agent for just over a year and am doing well. And while I have been thinking of joining a new brokerage eventually, I haven't thought about doing it so soon.

    Anyway, from what I can tell HomeSmart has higher office fees and 100% commissions. But, that's really about it.

    What are they like as a corporation? Fees? Software/tech platform and service offerings? Reputation? Any insights really help.

    Thank ya.

    submitted by /u/ShortRasp
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    Which should be my first investment

    Posted: 03 Apr 2020 03:42 AM PDT

    22 Years old realtor. With the Cvoid 19 going on income is slowing down but when this pass. I really want to get duplexes, triplexes, and fourplexes. Should I get a SFR first and rent the rooms out and keep one room for AirB&B then save more then buy a triplex or fourplex? What are your guy's thoughts?

    submitted by /u/EdrisisEd
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    Advice Please! Not sure if my college course satisfies elective requirement for CA Salesperson License...

    Posted: 03 Apr 2020 12:21 PM PDT

    Hi there -

    I'm in process of getting my California Real Estate license and saw that if you took a college-level "General Accounting" course, this counts as one of the required units.

    I took a couple of financial accounting classes back in 2009 (yes, 11 years ago now...) but was not sure whether they qualify. I called up CA DRE and they wouldn't verify over the phone and says I will need to send in a full application for them to make a decision.

    I also don't want to lose 4-6 weeks for them to process my application, only for them to tell me it doesn't satisfy the requirement...but also trying to save my time from studying an extra course if it works.

    Do you guys have any experience with this or if any of you could weigh in whether either one of the 3 classes below would work?

    If not, would you suggest I take Legal Aspects of Real Estate or Real Estate Finance to prepare myself for the CA state license exam?

    THANKS IN ADVANCE!

    ----------------------------------------------------------------------

    Course Descriptions:

    • Introduction to Financial Accounting
      The identification, measurement, and reporting of financial effects of events on enterprises, with a particular emphasis on business organization. Preparation and interpretation of balance sheets, income statements, and statements of cash flows.

    • Intermediate Financial Accounting
      This Course introduces the student to concepts, theory and applications of financial accounting. The topics covered include accrual accounting concepts, financial statement analysis, inventory valuations, capital assets and their corresponding depreciation and impairment. Attention is given to examples on current reporting practices and to the study of reporting requirements promulgated by the Financial Accounting Standards Board ("FASB") with comparison to the International Accounting Standards Board ("IASB").

    • Introduction to Managerial Accounting
      The uses of accounting systems and their outputs in the process of management of an enterprise. Classification of costs and revenue on several bases for various uses; budgeting and standard cost accounting; analyses of relevant costs and other data for decision making.

    submitted by /u/golden0123
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    Is it normal for a realtor to take more than 3 days to submit an offer?

    Posted: 02 Apr 2020 06:56 PM PDT

    Our realtor told us she would send us the paperwork for the offer that same night but it's now the third day and we haven't seen any offer. When we asked her she said her system was down? Is she lying? I don't care if she has other customers or is busy but she hasn't updated us we have been the ones who reached out to her today. She's been very active on Facebook this past week. Should I let it go? Am I being too difficult? We just looooove this home and don't want to miss out. The house is in opendoor. For reference.

    submitted by /u/crazygirl1387
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    Is being a real estate agent a sales business?

    Posted: 02 Apr 2020 07:41 PM PDT

    When on the job are you actually "selling"? I find it to be more "soft selling", as opposed to a sales rep trying to sell a product to a consumer or another business.

    Would like some feedback.

    Thanks

    submitted by /u/LankyBasket
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    Get this

    Posted: 02 Apr 2020 05:52 PM PDT

    So I've never bought a house before I wanted to get some opinions on this. So I find a steal and the realtor puts some bids on this auction website thought nothing of it. all cash offer by the way if this matters. I win the auction we literally are in the realtors office watching the time go down on the auction boom we win the auction we talk to the listing agent he says we can get inspectors we go to the house get inspections sewage gas termites it all checks out we do the inspections costs us like 550 also we drove a 12 hour drive to get here and saw the house Before putting a bid I'm not stupid I think at least. Then The listing agent calls and says there's another bid and he can't tell us how much it is and but his hint is I gotta go a little higher so I'm like na this is bullshit I get the website I look for some type of terms and agreements nothing to be found in fact the website is very rudimentary I go to the bottom of the website there's a llc I copy that put it in google and not much pops up but some investing website or some shit and it says the company has one employee guess who it is... The listing agent What would you guys do? Are there any legal implications or am I fucked because he owns the website?

    submitted by /u/Username9382
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    COVID-19 Market Updates

    Posted: 02 Apr 2020 05:45 PM PDT

    Has your market been affected? Too early to tell?

    submitted by /u/greenwig
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    I have created a lot of new initiatives. One is Student-60 (S60) basically you time block 60 minutes a day to learn about something you have no clue about. I have created a list of topics and you can run the single topic over ten days, ten total hours! What’s everyone else doing?

    Posted: 02 Apr 2020 05:42 PM PDT

    Mastermind Group

    Posted: 02 Apr 2020 01:56 PM PDT

    Hey fellow REALTORs! I have been thinking and think starting a mastermind group on FB messenger, WhatsApp, or something like that would be a great idea! We can ask fellow agents questions and build a referral database around the country! This will be multifaceted. We can use it to develop connections, brainstorm, and otherwise help each other out! If you would be interested let me know on this thread or by sending me a PM!

    submitted by /u/mseth1995
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    Anyone from the SFV?

    Posted: 02 Apr 2020 12:59 PM PDT

    I'm new, debating on which brokerage to pick, and I think I'm giving myself more of a hard time than I should be. There's just so many great brokerages I see, that it's in fact hard to choose THE one. Can anyone help me, give me tips, or anything? Thanks!

    submitted by /u/Then-Company
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    Is this still a viable career?

    Posted: 02 Apr 2020 08:26 PM PDT

    With Zillow and Redfin, how will role of the real estate agent in the upcoming future?

    Is there any point in becoming one if you enjoy a sales career?

    I wouldn't want to play a minimal role if I enjoy sales but technology ends up doing most of the work for me

    Thoughts?

    submitted by /u/LankyBasket
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