Realtors: Today was one of those days it was awesome to be a Realtor. |
- Today was one of those days it was awesome to be a Realtor.
- Debating coming back to RE
- Survey: Most buyers will go over budget in pursuing their dream home
- Decided not to list - should I do more than just thank my realtor for her help?
- Do you feel a passion for being a real estate agent is needed to be successful in the business long term?
- Commercial RE Commission Structures
- Clients put the pause on selling. Any way to stop agents from calling to try and scoop them?
- I have just done 2 years of many rentals. I believe this has clouded my judgement to make a brokerage decision as I focus on sales (stay vs. go). Any input?
- I passed my real estate exam!!!
- L shape or straight line
- Thoughts On 2021's Housing Market?
- Anybody else get anxious on appraisal day?
- Real Estate Homework
- Arizona Broker Exam
- E and O Insurance? What’s your experiences been?
- I need some encouragement!
- Should we reduce price or offer a credit at closing?
- Anyone from NW suburbs of Chicago?
- How do you stay organized from contract to closing?
- Reputable Online Programs
- Video marketing flyer
| Today was one of those days it was awesome to be a Realtor. Posted: 19 Aug 2020 05:58 PM PDT I closed on a deal yesterday with a really nice young first time home buyer couple. It didn't fund until today and I met them at the house today to hand them the keys. It was going to be a good day just because of how excited they were, but they surprised me with a gift. A huge gift bag with wine, crackers, cookies, beef jerky, chocolates, dog treats and toys for my dogs and a thank you card with $400 cash. Holy crap! It was a difficult deal with communication issues with the lender and incompetence with title company (did title work/survey for the wrong parcel) and I kept them calm and got them through it. I considered it just doing my job. I didn't expect that kind of token of gratitude. [link] [comments] |
| Posted: 20 Aug 2020 05:08 AM PDT Former realtor here from Ontario Canada. I was a realtor for about 3 years, part time, but was offered a position at a financial institution 6 1/2 years ago in commercial banking, which I still work today. I'm debating coming back to real estate as I miss the control that I had and the pure sales aspect of the posting. I'm currently stuck to my office chair all day working on risk management etc , banking is extreme micro management, at best. Corporate executives barking orders without even understanding internal processes. Current salary is $81k with a pension, this is literally the only reason I'm still here. My plan would be to really focus on commercial and niche my market. My role at the FI is currently writing and underwriting commercial loans, which include rental/investment properties. My plan is to save 6 months worth of living expenses and jump back in spring/early summer 2021. I can afford a 50% pay cut my first yea. Plus with covid travelling etc is off the table for the next 12-24 months most likely My wife owns a successful service based business so we are not strangers to entrepreneurship. Am I crazy for leaving my bank job even though it might actually be killing me slowly? [link] [comments] |
| Survey: Most buyers will go over budget in pursuing their dream home Posted: 20 Aug 2020 07:33 AM PDT |
| Decided not to list - should I do more than just thank my realtor for her help? Posted: 20 Aug 2020 12:48 PM PDT Turns out that the universe is telling me that now is not a good time to sell my current home to move to a nearby town where my daughter lives. Abysmally low inventory there, and I'm having trouble getting preapproval on a mortgage if I buy there first and then sell here. Should I offer to pay my realtor a little for her time in meeting with me twice and generating the comp report packet for me? No work has been done beyond that point. Or is this just part of the job in trying to generate a listing contract? [link] [comments] |
| Posted: 20 Aug 2020 12:23 PM PDT |
| Commercial RE Commission Structures Posted: 20 Aug 2020 11:01 AM PDT How do commercial agents usually structure commissions? Is it unusual to see a $12 million transaction priced at 1.5%? [link] [comments] |
| Clients put the pause on selling. Any way to stop agents from calling to try and scoop them? Posted: 20 Aug 2020 09:03 AM PDT Like title says, sellers are frustrated by the difficulty in competing to purchase right now. The appraisal on the sale of their home also came in much lower than the offer price. As such, they have opted to wait. The client just called to say they have started getting prospecting calls, and even their mother has started getting them. Listing has already been cancelled, but is there any way to put a stop to the prospecting calls? [link] [comments] |
| Posted: 20 Aug 2020 08:34 AM PDT If you read this post, thank you so much. I'm pretty conflicted. I'm not a "fresh" agent, necessarily. I'm 33, have spent a decade building all sorts of business and opportunity, and found real estate 2 years ago. I am inexperienced, relatively, but I am not a bushy-tailed 22 year old not understanding what to do with their life yet (I was 10 years ago, though). I've been doing a ton of rentals/renters for 2 years, and my brokerage (small one) has had 4 sales listings that I didn't acquire but have actively been a part of and earning commission on. Shopping around for a property for myself, I linked up with the listing agent who actually said he's looking for a buyer's agent, and that I seem like a good fit (we both did click well, but do I realize he probably might say this to anyone). He told me I'd take 55% commission but many leads would be fed to me via his $1000/mo online ad campaigns, the website, extra buyers he didn't want, etc. More than fair to me. The problem is, the dialogue started changing in our first meeting. He went full Big-Name-Brokerage on me and started talking about how we're building my "sphere of influence" and I need to call everyone in my life to get them to buy through his team. Wait a second.. I thought he was giving me leads? He used a bunch of other cult-like terms that just kind of freaked me out. The leads he previously mentioned had apparently exited the conversation. I started thinking a lot about how many people I know in this city, and how essentially he's trying to get them all through me. I get it, that's how it works. But I also realize he is trying to set up his own team for success, and I can be doing a lot of the same things he's already doing. I spoke with my current broker - it's just 3 of us here. He's savvy and young, but more of a back-seat investor and more my style in terms of steering away from power seminars and putting your headshot on 10,000 flyers, etc. He offered me 80% commission for my own leads, and told me I could use the database of renters we've previously closed as a rental company (not my renters or leads) for 33%. I know, low. He also gives me 33% for a sale listing that he acquires and does much of the work for, and 80% for my own sales listings. No desk fees, no broker fees. He also pays me close to $20/hr for my time, and there is no obligation on which lead source is priority (if 33% of his direct leads is too crappy, no one's saying I can't put 10% into that while putting 90% into my own leads, all the while getting paid for my time). I'm not "above it all". I have no ego. But I genuinely believe I have the connections, networking skills, and raw people/business talent to make the stay worth it via 80% commission. I believe I can do much of what this team leader is doing, myself. I do not want to just look at the numbers and say "yipee, easy call". Right now, there is also no ability to cap, but surely I can negotiate that after 5-10 of my own deals. My broker is incredibly reasonable, and also an expert. We have an admin/third person who wants to take more of a backseat and handle transactions. I went back to the guy who wanted me to join his team, and told him I'm reconsidering. He scrambled, and argued. He pushed back about how I'm making the wrong decision by staying and that I'm "chasing a commission number". He put out many hypothetical numbers and deals of how many buyer leads he might kick me vs. doing it on my own, but when I put back hypotheticals favoring the other way, he couldn't answer. I feel like his scrambling wasn't because he is concerned for me so much as he is afraid to lose me. It's hard to describe. He hadn't called me in weeks, but suddenly, he kept me on the phone for 2 hours. The magical leads he had mentioned in our first call every suddenly now came back into play. I feel like he isn't sure what he needs. Guys - what do I do here? Based on these numbers, what would you do? I guess I haven't talked much about "training". My current broker doesn't offer formal seminars and traditional training, but we do commit time to practice calls and he also pays for signs, website upgrades, etc. I have no out-of-pocket costs unless I myself want to run ads or make content for my 80% leads. Team leader guy tells me there is a wealth of invaluables built into the other 45% I'd be giving, and that may be true, but I can't feel like I can replicate some of that. TL;DR: A tale of two teams, both with pros and cons. Any advice highly appreciated. [link] [comments] |
| I passed my real estate exam!!! Posted: 19 Aug 2020 07:25 PM PDT Super excited to have passed my real estate exam I was extremely nervous beforehand but it all worked out. Got my finger prints taken today and now waiting on the background check. Can't wait to keep meeting with brokerages and finding the right one then getting started in selling! [link] [comments] |
| Posted: 20 Aug 2020 07:12 AM PDT Trying to figure out what the best layout is for the dinette, kitchen, great room. Majority of layouts have either the L shape with kitchen in the middle or the straight line going great room > dinette > kitchen. Has anyone experience in having an easier/harder time selling these specific layouts? [link] [comments] |
| Thoughts On 2021's Housing Market? Posted: 19 Aug 2020 05:24 PM PDT Hey all, What are your thoughts on which way the housing market will head next year? And why? [link] [comments] |
| Anybody else get anxious on appraisal day? Posted: 19 Aug 2020 10:37 PM PDT It's for a conventional loan and it already passed a USDA inspection for an RD loan last month but with a new appraiser and appraisal I always get anxious. How many years until that feeling of dread goes away? Any tips for getting rid of it? [link] [comments] |
| Posted: 19 Aug 2020 09:54 PM PDT Hi! I am looking into becoming a realtor in the future and I am currently taking classes for it. Would anyone be able to help me answer some questions regarding being a realtor/mortgage loans/appraisers/property inspections. It would be like an interview through reddit and my professor is asking for a business card as a proof. It would really help me out greatly in the future. Thank you! [link] [comments] |
| Posted: 19 Aug 2020 06:30 PM PDT Just how tough is it? I'm hearing it's 180 questions. I'm applying for an out of state license, taking the 90 hour course and hope to get through it all by the end of the year. Any tips?? [link] [comments] |
| E and O Insurance? What’s your experiences been? Posted: 19 Aug 2020 09:16 PM PDT I'm curious how others in this industry have experienced a claim with their E and O carrier. Have you found that your carrier had your back when there was a claim? Appreciate any stories or insight you can offer. The liability in this industry just eats me alive and I'd like to know if others feel the same pressure. Thank you in advance. [link] [comments] |
| Posted: 19 Aug 2020 01:22 PM PDT So I got my license and finally feeling like I am able to work and semi know what I am doing. I had planned to go solo but just between being inexperienced and COVID hardships I am joining a team. Because I am new, and they really do not know how I work, they gave me a spot but with a few conditions. The team lead says she wants me to do 3 deals in 5 months. This is making me nervous. Obviously, if I am making this a career then 3 in 5 is something I have to do. But being told I have to do it has got me stressed. Is 3 in 5 months doable in this market for a new agent with a relatively small sphere? AND WHAT SHOULD I BE DOING TO GET THESE DEALS!? Obviously want to focus on listings, I just sent direct mailers out today so hopefully something comes from that. But just not sure what else. I have done a little cold calling and have a possible listing appointment tomorrow for that but I am not optimistic about it. [link] [comments] |
| Should we reduce price or offer a credit at closing? Posted: 19 Aug 2020 07:53 PM PDT House has been listed for 53 days with no contract despite many showings. The prevailing comment seems to be that potential buyers aren't interested because the cost of updating to their liking would be too much. So we offered a credit of $10,000 to be paid at closing hoping this would bring in serious buyers. Didn't generate the expected responses however. So now we have dropped the price 10k. We believe we know the price is still 5k too high. The question is do we drop 5k off the price or offer it as a credit? Please explain your thinking. Thanks [link] [comments] |
| Anyone from NW suburbs of Chicago? Posted: 19 Aug 2020 07:28 PM PDT .... And willing to give your opinion on a property in downtown Arlington Hts. Please pm me. Thanks [link] [comments] |
| How do you stay organized from contract to closing? Posted: 19 Aug 2020 12:30 PM PDT During the closing process, what is the way that you keep everything and everyone organized? Making sure title companies have the documents they need and are communicating, multiple points of contact from the lender, and agents and their assistants. I know about just putting everyone in one giant email chain and hoping they use it but we know how that goes. [link] [comments] |
| Posted: 19 Aug 2020 04:57 PM PDT I was wondering if anyone in here had a good experience with an online real estate licensing program. I live in Texas and would love any information or advice! There are pretty significant price differences from program to program and I am not sure how much of it makes a difference? [link] [comments] |
| Posted: 19 Aug 2020 03:22 PM PDT I'm looking to create a video marketing campaign as a replacement to a basic flyer for our property. Any idea's on who I can get in touch with? [link] [comments] |
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