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    Sunday, June 7, 2020

    Realtors: Script Practicing

    Realtors: Script Practicing


    Script Practicing

    Posted: 07 Jun 2020 10:05 AM PDT

    getting into real estate really soon. i have been watching the two ferry's pretty religiously and other real estate YouTube channels, and they all say that when calling you should use the scripts. makes sense. trouble is i have no one to practice the scripts with and cant ask my siblings because they dont know anything about real estate and dont know the thoughts of an fsbo or expired, etc... what should i do

    submitted by /u/onlyfornofap_______
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    Short Sales - are they still around in today's market?

    Posted: 07 Jun 2020 08:36 AM PDT

    I saw a Short Sale listing yesterday on MLS. List price was $100,000, original recorded mortgage according to the county records was $132,000 and every single sold comp in the subdivision was in the $150,000 range. Why even attempt a short sale when you can list the house normally?

    submitted by /u/praguer56
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    Dude! Yesterday afternoon I passed my Real Estate Agent Exam!!

    Posted: 06 Jun 2020 11:59 AM PDT

    I'm stoked! I know the real work starts now and I'm definitely ready.

    As an out of state new agent, I'm flying out and interviewing at different firms next month. Quick question...

    What questions should I be asking them? I know I'm interviewing them, but I want to know what I need to know and how to differentiate them into categories. What to look out for, the good and bad... If that makes sense? Training, commission cut, ect...

    submitted by /u/29under29
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    Advice for somebody with an interest in getting into real estate?

    Posted: 07 Jun 2020 12:22 PM PDT

    I read the megathread, I looked through the linked posts for beginners, so I understand that there's a good chance that this will be downvoted and discarded, but I'll ask anyway in the hopes that somebody can give me insight.

    I'm 26 living at home with my parents in Delaware. I was temporarily laid off from a shitty job I've been holding since moving back home about a year ago due to COVID, and because of that I've accumulated around $10k in my checking account.

    I've been looking at options for income so I can move out of this house, out of this state, and make a living while actually enjoying life. One of those options is real estate, after watching Graham Stephans on YouTube for a little while.

    I know very little about this business; I don't know the costs, the education, or the potential for something like this in Delaware (I know location matters, and that guy is in LA so I imagine there are some differences in how much he can make off a home there vs here).

    I'm social, I'm a people person, but I prefer working WITH people rather than FOR people, so hopefully you guys don't grill me too hard and perhaps shed a little light for me on this as a career pathway. If not, and I get downvoted into obscurity, I apologize for the post, didn't know a better place to ask. Just want to make it in life and not be a victim of my circumstances.

    submitted by /u/TheDutchDemon
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    Help deciding on an offer price. Also what makes a house a comp?

    Posted: 07 Jun 2020 08:01 AM PDT

    Looking at a lovely 5000 sqft house that ticks 98% of the boxes. 5 bedroom / 4 bath with two car garage and finished basement. 0.2 acre lot.

    It's listed for 800K right now. On market 26 days so far. No price drops yet.

    Looked at comparables sent over by realtor - looking for advice on a decent starting offer price? When is it acceptable to offer below list price?

    We were thinking 750K but obviously don't want to be insulting. My agent's only thoughts so far is "we can try." We are of course willing to negotiate. Any thoughts based on the data below?

    • 4024 SQ feet on 0.3 acres / 4 bed / 4.5 bath - sold $728K with 8 K CC 12/2018
    • 4834 SQ feet on 0.2 acres / 5 bed / 4.5 bath - sold $732K April 2020
    • 4300 SQ feet on 0.5 acres / 5 bed / 4.5 bath - sold 820K with 10 K CC August 2019
    • 4727 SQ feet on 2.5 acres / 5 bed / 4.5 bath - sold 858K with 10K CC March 2019
    • 4938 SQ feet on 0.5 acres / 5 bed / 5 bath - sold 873K with 6K CC Nov 2018
    • 4144 sq feet/ 5 bed / 5 bath - sold 900k with 1K CC in July 2019

    Active listings in the comps include

    • 4141 SQ feet on 0.16 acres / 5 bed / 4 bath - on market 37 days with original list price of 825K now at 809K
    • 4260 SQ feet on 1 acre / 5 bed / 4.5 bath - on market 15 days with listed 860K
    • 4910 SQ feet on 0.2 acres / 6 bed / 6 bath / - on market 25 days with original list price 925K now 899K

    ~~~~~ Now I don't know how an agent finds comps but browsing sold data on Zillow I also found these ones in the same geographic area by searching for 5 bed/4+ bath with garage and basement sold in the last 12 months....

    • 4350 SQ feet on 0.3 acres - 7 bed / 5 bath - sold 797K Oct 2019
    • 4780 SQ feet on 0.25 acres - 6 bed / 5 bath - sold 650K March 2020!
    • 5026 SQ feet on 0.16 acre lot - 6 bed / 4 bath - sold 640K July 2019
    • 5510 SQ feet on 0.4 acres - 5 bed / 5 bath - sold 700K June 2019
    • 4400 SQ deer on 0.2 acre lot - 5 bed / 4 bath - sold 754K Jan 2020

    Would really appreciate it if any agents are able to weigh in. Thank you!

    submitted by /u/littlehamsterz
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    Motivations to Mentoring?

    Posted: 07 Jun 2020 10:53 AM PDT

    I'm new to AZ and trying to meet people. I met a local realtor at a Rotary event and mentioned that I was thinking about getting my licence. I asked if I could take her to lunch and ask some questions. We had lunch and I took about 10 pages of notes, then we drove around and looked at houses. I decided to get my license and will be taking the test when the testing centers open (closed for Covid). Since our conversation, she has reached out several times to check in. She's mentioned twice that she'd like to work with me.

    I guess I don't fully trust her intention. What would motivate someone to want to mentor? When I was taking notes and asking questions, she said I'm already better off than most agents she knows. I'm not sure if she think I've got a good head on my shoulders or if she's after something else. After living in NJ for 8 years, I'm just not used to people being so nice and I'm a bit unsure about this. Is this normal? Any insight would help. Thanks!

    submitted by /u/vanalm
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    Showing houses nowadays. Tips for being safe?

    Posted: 07 Jun 2020 10:48 AM PDT

    I'm kinda new to the retail side of the business and have showings coming up and have asked my partner to come with me to the first one scheduled for this evening. Just come with me, sit in the car for 15-30 minutes just to be there. He is absolutely against going with me.

    Am I being a wimp about this? Is he right to think I need to do it alone since it's my job?

    submitted by /u/praguer56
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    Mortgage Joint Venture

    Posted: 07 Jun 2020 09:38 AM PDT

    Anyone have experience with opening or running a mortgage joint venture inside their brokerage or team?

    submitted by /u/DelAwa
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    Builders and their insistence on using their own contracts, terms and conditions

    Posted: 07 Jun 2020 07:51 AM PDT

    Can anyone address the reason why so many builders insist on using their own contracts with their own set of terms and conditions? I get that it's new construction and it comes with its own warranties etc but Realtors seem to have rolled over for builders. Earnest money to be held by the builder is the biggest bullshit item I've seen and if you don't agree, you don't get to buy the house. Not even the closing attorney or title company.

    Is it me, or do they have their own mafia thing going on?

    submitted by /u/praguer56
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    I'm making an offer on a house. Can my realtor show the same house to his other clients?

    Posted: 06 Jun 2020 02:48 PM PDT

    Interactions with Someone Else’s Client

    Posted: 06 Jun 2020 08:14 PM PDT

    Short version: client has their home listed in a different city with a local realtor. I will be their buyer's agent when they move into town. They're asking my advice on their active list price.

    What are my boundaries here? Obviously my goal is not to solicit their listing business, so am I actually breaking rules by giving my opinion? Anything I provide will be with the intention of being helpful, both to them and their agent.

    Edit: grammar

    submitted by /u/mrausgor
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    Could a principal broker get in trouble?

    Posted: 06 Jun 2020 01:32 PM PDT

    Would It be ok as a principal broker in the following scenario?

    • unlicensed firm president purchased 1/4 of a farm and three days later offered the farm for sale to a local board to convey for a new building. Let's say he has not closed yet, so he only has 1/4 equitable interest.
    • in the offer he used a separate LLc from the licensed firm, but used the firm logo in the advertising layout and used the phone # registered to the firm as the contact info.
    • he entered into a confidentiality agreement with the board communicating with their general counsel.
    • their general counsel is from a law firm that one of the partners has ownership interest in the real estate firm.
    • all the communications/negotiations with the board came from company emails with email signatures showing the employees with the real estate firm logo.
    • eventually other 3/4 sold to the firm president and he closed on the property with the board after getting full title.

    Would the principal broker have anything to answer to the state real estate commission?

    submitted by /u/KYfarmboy
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    Anyone's clients use ConsumerDirect (FirstBank's mortgage division) or NBKC bank via Costcomortgage referral program?

    Posted: 06 Jun 2020 01:13 PM PDT

    Hi everyone, I'm considering leveraging Costco's mortgage program (www.costcohomefinance.com) to be matched with a lender because Costco prenegotiates lower rates and also caps lender fees to a very negligible amount (depending on your membership type). I have found VA loan interest rates as low as 2.75% for 30-year fixed and 0% down (APR also just 2.9% or so, which is amazing) so just wanted to hear how the actual loan closing experience has been for you or your clients. I found lots of positive reviews about NBKC and not really any negative which is a bit odd, so hope they're not "paid" for. Can always rely on the Reddit crowd :)

    Thank you in advance!

    submitted by /u/DiverHikerSkier
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    Background Checks

    Posted: 06 Jun 2020 12:13 PM PDT

    I made an unfortunate mistake in college and have a misdemeanor for trying to use a fake ID to get into a bar. Well, I'm trying to get my realtor license now. I will disclose this when I take my exam. I plan on getting the license in TN.

    1. Will I for sure be prevented from obtaining my license because of this?
    2. If I'm denied, can I appeal and would a lawyer be able to help me properly word my appeal?
    submitted by /u/heygirlitsme1
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