Realtors: Why Mixing Business With Family Is Generally A Bad Idea. |
- Why Mixing Business With Family Is Generally A Bad Idea.
- How to leave my firm with great relationships
- Is it trashy if another agent plugs themselves on your paid online ad?
- 10 Best Jobs for a Career Change: 10) Realtor - National Average Salary: $90,175 per year (Indeed)
- Anyone have experience with the Teacher Next Door grant?
- An effective google ads for promoting a certain real estate project?
- Have any of you started out low income?
- Tips for meeting with a broker
- Running a real estate agent business outside of facebook
- Taking my licensing exam in less than two weeks! Anyone have any tips, suggestions on what to focus on while I study? I’m an anxious test taker from Michigan
- Newbie looking for List of brokers to join in South LA
- Particulars about marketing/listing properties in Notice of Default period? (CA)
- What do most of you do regarding Pre-approval letters?
- Has anyone here worked with Tourlie?
- Selling house without For Sale sign
- Pls Help. Getting calls for someone else
| Why Mixing Business With Family Is Generally A Bad Idea. Posted: 02 Jul 2020 03:09 AM PDT Starting a thread on this issue as I'm sure this is a VERY frequent issue. I'm encouraging others to comment and share their own stores as well if they wish to do so. Here's my story. I was always reluctant to work with family anyways, but this here just sealed the deal for me. Long story ahead. So, I do a little work with my parents occasionally. They are part time flippers who get homes cheap and flip them for a little money about once a year or so. They often do these in rural areas about 70-90 miles away from me and these homes are sub $100k so they don't pay well. I am on another MLS and board just to view these homes they look at. I focus more in the metro/downtown area where I tend to clients who are generally at a minimum $300k but often closer to $500k most of the time as it's a good time/pay ratio (I live in the south so these are nice areas). I also do commercial which pays a higher percentage and they tend to be MUCH bigger transactions. These jobs pay better with less headache which I find is true for business in general. Cheaper clients tend to lead to more headaches. The problem is my parents are the worst real estate client I've ever had in various ways. Usually it's my mother. She loves to complain and try to run my business for me. She tried to be a realtor in 2007 but failed the test and never took it the second time. Everything I suggest she will either shoot down or argue with even if it hurts them later (which it often does). She'll complain about pictures, wording, and anything else you can imagine even when others love the professional photography (buyers and other realtors) and the contracts are spot on. Anything I suggest she'll just yell and try to dominate the conversation. She is apparently the real estate expert and I don't know how to run my business. She'll often tell me "This other agent does this a certain way, you should be more like that". She even once demanded the closing attorney be where she wanted and not where the buyer chose (which is normal here) because she didn't want to deal with a "small time agent" who actually did a great job. She wants to amend contracts to add things in several times, etc. She even claimed someone inspecting their property during due diligence was a scam artist and started spying on them and asking them questions. Yikes. On top of that they don't like to pay for anything. Many things they have to do take much longer than necessary because they feel the need to pinch a penny from everything and sacrifice quality and service. I sold two properties for them back to back above listing price that went under contract in under two weeks and they were still risking the deal to make an additional .3% more on the deal when the contract had no closing costs and no repairs requested and high earnest money. Contractors often just quit showing up to work with them because of their cheapness and haggling, they then complain they can't find reliable people. On top of that they naturally want a large discount in commission because they are "helping me out". I am doing much larger jobs that are paying literally 10x more (up to 50x+ more including commercial deals, which take longer) after fees than these jobs with far less headache and time. I actually enjoy what I do normally and working with them just makes the experience miserable. I have another business on top of that so I'm not starving for money either way. They will also throw me under the bus when it saves them a few dollars. Before I was supposed to have a listing with them and I helped them set up everything, only for them to go with an investor at the last minute and he backed out of the deal. They came to me later after that even though I warned them this would happen (guy didn't seem too serious). They have also looked at other properties with another agent and then asked me to write a contract at 1.5% (since another agent showed it to them). When I said I wasn't interested they tell me that 1.5% of something is better than nothing and I would sell it for them (at 2% on a $70k home I would normally do at 3.5% for other clients). She also was going to cancel a listing to use an Ibuyer which actually would have lost her money. They aren't loyal but want me to be. The final straw was this Monday. They looked at another home 80+ miles away for $99k. They ask me about it at the last minute at night and want me to draft the offer. I call the agent and the job is at 3% (around normal where I live). We were beginning to negotiate. My mom then calls the agent and negotiates a deal behind my back. The deal was apparently at $89k at 3% and she said she would do it at a reduced commission (for $87k). Of course, she wasn't doing anything, I was. I never agreed to this and it was unethical for her to negotiate with the agent behind me and reduce my commission without me consenting to it. The home was already far away, and the job wouldn't pay much after my fees. What made it worse is I could have negotiated a better deal for everyone as many times agents will say things and adjust their stance, and he was already working with me. She just completely sabotaged the deal in the attempt to save a few bucks for herself. I refused the job and they acted surprise by this and tried to say they were helping me out. I told them if they wanted me to do it they should pay the difference in the commission they negotiated out behind me. My dad got an attitude about it said if I didn't work with them they weren't going to let me sell their main home (a home near the lake that has not sold the past 4 times they listed it with another agent as it was overpriced which they want me to do at 1% commission). I told them I wasn't interested in either of them. Their attitude is "Well you don't have to do anything but sign some papers and cash a check." to which I reply, "Well you should become an agent and make all of that easy money". It's outrageous. She then contacts me again asking me to do it and she paid most of the difference (in the commission cut) saying they felt they were "helping me out" and I would get to sell it when it's renovated. Since I had the contract basically finished and the market is hot (things are bought up quickly) I sent it off. However I told them that following morning that I would no longer participate in any more family deals once this one is concluded (which is a quick cash sale). I'm sure it bothers them somewhat, but I ultimately had to do what is best for me. Working with stress, arguing, and headache isn't worth it. Especially when compounded with cheapness and unethical behavior. TLDR: Family and business usually leads to a failure in both areas with bad blood. Money makes people act differently. I wish them the best in their endeavors, but I won't be representing them. It isn't worth it. If anybody wishes to share any stories of their own feel free to. Thanks! [link] [comments] |
| How to leave my firm with great relationships Posted: 02 Jul 2020 01:43 PM PDT I have decided to join a different firm. I have good relationship with my manager, and I want to continue to have a good relationship with my manager. I want to know if there's anything I should know and take caution to how to handle the situation. What's the best way to go about it? [link] [comments] |
| Is it trashy if another agent plugs themselves on your paid online ad? Posted: 02 Jul 2020 01:42 PM PDT I made an ad for a neighboring big city (not my main market but I could work there) and some other realtor posted "if you ever need help in X, I'm here to help!" My first impression was wtf. But I also appreciate the outreach since it is in another city after all. Could be a good referral partner🤷🏻♂️ Anyways, thoughts? [link] [comments] |
| 10 Best Jobs for a Career Change: 10) Realtor - National Average Salary: $90,175 per year (Indeed) Posted: 01 Jul 2020 09:15 PM PDT |
| Anyone have experience with the Teacher Next Door grant? Posted: 02 Jul 2020 09:42 AM PDT Im helping a friend and he is looking into this. I wanted to see if anyone had any experience with it and your thoughts? Thanks guys [link] [comments] |
| An effective google ads for promoting a certain real estate project? Posted: 02 Jul 2020 08:14 AM PDT Hi! Inwas wondering if you have some good tips on promotiong on google ads about selling a certain property. Thanks in advance! [link] [comments] |
| Have any of you started out low income? Posted: 01 Jul 2020 02:25 PM PDT I'm currently a stay at home mom and working through my prelicense course. I'm currently just worried about my appearances. Worried I can't afford to look the part right off the bat. I need clothes and I'm assuming a decent looking car. Also wondering what other costs I need to consider and wondering how you may have overcome those costs. [link] [comments] |
| Tips for meeting with a broker Posted: 02 Jul 2020 12:08 AM PDT Hey guys this is my first post! I just passed my real estate exam in CA and i'm meeting with a broker next week. It's not really an interview? (i think) but was just a referral through a friend. I'm not looking to be an agent right away, coming from a retail sales background i'd like to have a mentor or assistant/admin role at first. What do you think i should expected to ask? And what do you think i should ask? Thanks for the tips! [link] [comments] |
| Running a real estate agent business outside of facebook Posted: 01 Jul 2020 07:58 PM PDT Maybe I have completely lost my mind... I have a few hustles (web development, picking/reselling antiques and real estate) I am wondering if I could be a successful real estate agent without using facebook. My concern is that some will see my facebook and think I am inconsistent due to the fact that I had "career changes" as so they say I have had. I have decided to deactivate my facebook at this point. I also have a bad case of "putting myself out there" Not in the worse case, however, I am sorta introverted and don't give a whoot about being as "happy and sociable" as many agents are. I guess maybe this becomes a career concern, as if maybe I should not be a real estate agent because I don't want to embrace social media? I dunno. Ok armchair and keyboard Dr. Phils, have at it! lol [link] [comments] |
| Posted: 02 Jul 2020 02:13 AM PDT |
| Newbie looking for List of brokers to join in South LA Posted: 02 Jul 2020 02:03 AM PDT Hi, I'm waiting for my exam application to be processed so I can take the exam soon. So in the meantime while studying I would like to make a list of brokers to keep in mind. Right now I only have eXp, fathom and ashby&graffe. Thanks! [link] [comments] |
| Particulars about marketing/listing properties in Notice of Default period? (CA) Posted: 01 Jul 2020 10:55 PM PDT I'm working on a handful of 2-4 unit leads that have had NOD's filed in California. I'm a newer agent (come from CRE) but was wondering if anyone had any particular pitfalls I need to be careful when attempting to pick up listings. [link] [comments] |
| What do most of you do regarding Pre-approval letters? Posted: 01 Jul 2020 10:41 PM PDT So I've been licensed a year, started in mid August and just closed my first 2 transactions last month. I live about 20 min from my brokerage(different counties) and it's great because it's a fairly fast drive and I do a lot of my personal stuff in that town anyway(gym, groceries). I've been doing a few showings per client without asking for a letter, I only ever mention it if I think the home will go quick and I give them a heads up in case they want to put in an offer. Anyway we use Boomtown Leads and a lady who signed up a while back messaged about a home and I sent her the info she requested and told her to let me know if they wanted to check it out sometime. Now the home is a 43 min drive from my home and I have never met this woman. I've been burnt quite a bit on similar situations where it's a 30+ min drive to meet a stranger from a call into our office or our website and they aren't interested and then end up ghosting me. To continue, since it's an hour and a half round trip I told her to let me know what day/time works and told her that we want to be prepared in case she likes the home and with it being a newer listing so she should get the letter to me sometime beforehand so we are good to go. Also, in my state bank lobbies are closed and the loan staff basically work from home. She seemed super agitated that I would ask for the letter. I was professional and courteous and apologized if I had offended her and she seemed to accept it. I love this job and it's been worth the grind 100% but I wanted to see what some of the more experienced agents do regarding showings and pre approval. As I said, I've never really asked before but this was also a decent drive for someone I had never met. I don't want to piss anyone off again but I also don't want to do what I did in the first few months and spin my wheels for people who either were never going to buy or could not buy. Is there a balance or do so just nut up and do those type of showings and let the chips fall where they may? Thanks and sorry about the book, it's just been on my mind all day [link] [comments] |
| Has anyone here worked with Tourlie? Posted: 01 Jul 2020 02:12 PM PDT It's a new service that opened in Austin, TX and is expanding. I'm wondering how's the experience of agents that have worked with it. [link] [comments] |
| Selling house without For Sale sign Posted: 01 Jul 2020 02:02 PM PDT Hi everybody! My wife and I are about to list our house and were wondering how unusual it would be to request that our agent not put a sign in front of our home. I feel like most people serious about buying will see our house online so it shouldn't really have an impact. How common or uncommon would this be? Is our agent going to think it's weird or object? The main concern about the for sale sign is that we don't want some of the neighbors to know that we're putting the house up for sale. We're in a dense downtown area and everybody will know we're planning to leave within an hour of putting up a sign. I would prefer that they not know until the closing papers are signed. It's nothing against our neighbors, I'm just active in the community and I don't want to have to deal with people asking us about it or speculating as to why we're moving. [link] [comments] |
| Pls Help. Getting calls for someone else Posted: 01 Jul 2020 03:08 PM PDT I live in Southern California, and I get about 5 phone calls per week from realtors asking for a guy who I have never met and wanting to buy/sell his house (that I have never lived at). How are they all getting my phone number, and how do I make it stop? It's been happening for about 6 months. [link] [comments] |
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