Realtors: First year almost finished |
- First year almost finished
- Disabled VA
- ‘Highest and best’ means just that!
- How would you word this in an Amendment?
- Instagram Connection
- Listing agent is asking me for a preliminary ALTA. Is this something I need to get from the lender?
- Agent contest prizes
- Would you be interested in my ebook on digital strategy?
- Come on man
- Salesperson
- Seller trying to reduce my commission
- New York agent
- What does your marketing plan look like?
- When will the market cool down?
- Can someone explain appraisals?
- Should I go into real estate
- I don't think I will hire a Realtor, even though I am one.
- Slogan/Catch phrase help
- Print Marketing
| Posted: 15 Oct 2020 06:52 AM PDT Hello everyone , just a general question ... got my real estate license in Canada at the end of 2019 so this has been my first year in real Estate. I haven't sold any houses however I have made around 45-50k working with just buyers. I'm on a real estate "team" however all the money I've made this year has been from people in my sphere of influence... my "team" has given me shit all when it comes to leads. Don't know if it's worth paying the high desk fees... [link] [comments] |
| Posted: 15 Oct 2020 07:05 AM PDT I had a someone call me (List Agent) because there offer is a "backup" and they are upset. While they didn't accuse me of breaking the law they are saying because they are a disable veteran they get priority per the laws. I can not find this law/rule anywhere. Have you ever heard of this? Are there any instances this could play a role? [link] [comments] |
| ‘Highest and best’ means just that! Posted: 14 Oct 2020 04:02 PM PDT Prepare for a rant... Each time I've been the listing agent and we've had multiple offers, I've had to deal with buyers' agents who appear to not understand what 'highest and best' means, and they come at me with 'well we could have done XYZ too!' when I inform them that seller has chosen another offer. Don't get me wrong, I'll ask for feedback from the listing agent when my buyers lose out on a multiple offer situation. This is for two reasons: so I can let the buyer know that there was nothing we could have done better (e.g. a full-price cash offer beat out all the mortgage loan offers), and also so I can tweak my strategy as the market shifts (e.g. appraisers are tightening up and we need to stop going way over asking price). I find this information so helpful, and I'm happy to share what I can when the shoe is on the other foot. What I don't understand is when I share the reason we selected the other offer and the buyers' agent tries to argue with me. Just in the last month, I've gotten everything from 'my buyer's parent would have lent them more for the down payment!' (when seller opted for the 20% down buyer over 3%) to 'if you'd have countered us, I could have gotten my buyer to pay their own closing costs!' (If the buyer really wants the house, that information should be relayed in the offer before the deadline, not relayed to me after we have decided to negotiate with another buyer.) I'm a realtor, not a mind reader. I even had an agent beg me to let her speak to my seller to plead her buyer's case and offer to cut her commission (giving me the lion's share) if I talked my seller into choosing her buyer's offer over the others. I've also had to explain to a buyer's agent that a strong offer does not include special stipulations like requiring seller to pay for a professional house cleaning prior to move in. (The house has already been professionally cleaned, as noted in MLS remarks.) At first I thought it was just inexperienced agents who may not have good mentors, but I've seen the same behavior in very experienced agents that surely understand how offers get prioritized. It just blows my mind. That's all. ETA: I've learned a lot about how much our markets vary based on the response I've received. We don't have an official 'highest/best' status in our MLS, but we do have a process for informing everyone of the fact that we have multiple offers (if the seller wants us to, that is) and we use it to set a deadline and ensure all interested parties have the exact same information. It's very transparent but we don't formally refer to it as 'highest and best.' This started as a rant but has turned out to be very informative! [link] [comments] |
| How would you word this in an Amendment? Posted: 15 Oct 2020 08:18 AM PDT I have a buyer under contract with several houses. He asks me to please add his fiance to the contracts which I did by Amendment. Then he realizes that one of the houses will be used in a 1031 exchange and he can't have her on that particular contract. Now I have to do a second amendment removing her. What's the best language to use on this? I'm in a State where agents can write language in amendments, btw. Attorneys are not required to do this. I wrote it simply as "Buyer and Seller mutually agree to remove Jane Doe as a buyer, and that Joe Smith shall remain sole purchase in this contract to purchase" Thoughts? [link] [comments] |
| Posted: 15 Oct 2020 10:34 AM PDT Realtors please drop your Instagrams below think it could be a quick way for us to connect :) [link] [comments] |
| Listing agent is asking me for a preliminary ALTA. Is this something I need to get from the lender? Posted: 15 Oct 2020 10:29 AM PDT Rookie here, I need to know where/how I get a preliminary ALTA for the listing agent to review. Your help would be very much appreciated. Buyer is FHA, if that helps with context. [link] [comments] |
| Posted: 15 Oct 2020 10:14 AM PDT What kind of prizes would you like to get from a team competition? [link] [comments] |
| Would you be interested in my ebook on digital strategy? Posted: 15 Oct 2020 08:22 AM PDT Happy Thursday agents! I just finished my 70-page 📕ebook on Advanced Digital Strategy for real estate, that covers the following: ✅ Branding ✅ Customer Pipeline ✅ Nurturing Anyone here would be interested in reading it? Giving away this beauty for free :) [link] [comments] |
| Posted: 15 Oct 2020 07:25 AM PDT Okay so here's the story. My fiancé and I have been on the hunt for a house for over two months. We placed numerous offers on several different homes, but with it being a sellers market and a lot of sellers not wanting to deal with VA loans, we've been out of luck. As of 3 weeks ago we finally found a home we liked, placed an offer, and was accepted by the seller. So here's the scoop... all the paperwork was signed including what we wanted fixed prior to closing..yada yada yada. I just heard from the underwriting team, and we had a couple things to fix, but are now clear to close. Come to find out the couple who are selling the house are recently divorced and the husband is newly married. Also, we found out there's a $12,000 lien on the house because ol buddy didn't pay his child support and it's all the way up at the tax assessors office. Our realtor spoke with the Texas Realtors Association attorneys and they had stated that the sellers couldn't back out of the contract without facing legal repercussions. The ex husband(seller) is trying to fight the child support payments(what a stand up guy) and we were expected to close on the 5th of November. He obviously is holding off on closing, because once the money processes through our lender, that $12,000 will go right to the back child support payments. We have let our apartment complex know we were going to terminate the lease and we have two months to pack our things and get out due not knowing this was going to be a hellish process. Our realtor is going to fight for the sellers to pay for our living accommodations if it takes longer than 2 months to deal with the child support payment battle in court. In anybody's professional experience, how long do these things normally take to clear up? Are the sellers required to pay for our living arrangements since they screwed up on their side? Or are we just totally SOL until it's cleared up? [link] [comments] |
| Posted: 15 Oct 2020 06:25 AM PDT Are any brokers looking to hire right now? I passed my NYS sales person exam and I'm looking to work. I'm located in NYC [link] [comments] |
| Seller trying to reduce my commission Posted: 14 Oct 2020 06:17 PM PDT Hey guys, I'm a new realtor and I have a listing. So I might've found a potential buyer who I showed the property to today but now the seller is turning around saying that his friend might be interested in buying. He asked me to reduce my commission to 3% if his friend buys but I've invested a lot of money in marketing and have a few potential buyers already. I'm just feeling a little discouraged and sad because I've worked so hard on this listing, provided free photography services and I would be almost making nothing if I reduce to 3...especially if the buyer has an agent of their own. What do you guys think? [link] [comments] |
| Posted: 14 Oct 2020 10:01 PM PDT Hi! Any Bronx NY agents in here? Need a favor to check when s property went under contract on MLS. Please message me! [link] [comments] |
| What does your marketing plan look like? Posted: 14 Oct 2020 08:59 PM PDT Hi guys, would you mind giving me some advice on what Your marketing plan looks like? What are you spending? Im a new agent and I have lots of ideas which are cost effective such as
Would you guys advise against any of the above? If so what would you suggest? I know a lot of agents just shove it on the MLS and hope for the best. But I don't know how they get listings with such an underwhelming strategy? [link] [comments] |
| When will the market cool down? Posted: 14 Oct 2020 08:50 PM PDT I'm a new agent, I ran a lead gen agency So I know I'm going to be able to get leads. I am currently putting my systems in place to target every type of lead possible (FSBO, expired, pre foreclosure, new construction, general buyers) But I can obviously see how hot the market is right now and am thinking I need to be more strategic with what I focus on first. I.e. it seems like FSBOs right now is a losing battle So my question is, to those of you guys that went through the last crash in 2008. When do you think this one is coming? And what do you think it's going to look like? And what lead types is it going to hit the hardest? Is the current market even worse than a crash... because there is no inventory right now? From everything I've seen it seems like the second half of next year is when all the pent up foreclosures and economic turmoil is going to explode. What will that look like for realtors? Will it be worse than it is now with such restricted inventory? [link] [comments] |
| Can someone explain appraisals? Posted: 14 Oct 2020 07:34 PM PDT I generally understand the concept, but I am having a hard time understanding how home values are determined for sale versus what may actually be appraised. Many of the new homes on my immediate neighborhood are much larger than existing older homes. As a result, the new homes and townhomes are being built and listed for MUCH higher than anything else in the neighborhood. Not only are these homes being listed much higher than comparable properties in the neighborhood, they are sitting on the market for months at a time. These higher priced homes do not seem like a very good value to me, as most smaller-mid sized homes here average $250k-$450k, have more property (the trend is to tear down a home, build two front and back sharing driveway). The new homes aren't very appealing, have minimal landscaping, and have no immediate amenities like parks, trails, schools, lakes, like comparable homes in nearby neighborhoods that share this price. And finally, the homes have dropped their asking prices by 40$k in two months. Am I missing something? Won't any prospective buyer be put off by the high ask leaving the prospective buyer offering well below list? Won't the reduction in price undermine the confidence in the evaluation? Won't the bank or lender appraise much lower than the ask? Are developers just naming their own price? And if so, how are they benefiting from have bloated properties sitting on the market for months at a time? I know these are a lot of questions, but I generally don't understand how the ask price HAS to be more than the appraisal. [link] [comments] |
| Posted: 14 Oct 2020 06:56 PM PDT I'm currently a senior in high school and 16 years old. I'm considering a career in real estate but I know if I go into real estate I'd want to make sure I can get a 6 figure salary. Any advice and/or inputs? Thank you in advance! [link] [comments] |
| I don't think I will hire a Realtor, even though I am one. Posted: 14 Oct 2020 09:58 PM PDT I am a licensed Realtor in WA, originally from CA. When Covid hit I moved back to CA with hopes of getting my Real Estate license and continuing my business here. I finished school in May, and I have been waiting to take my test ever since. DOL says I SHOULD be able to apply for my test by the end of the month if nothing goes wrong, so I have been essentially out of income for this entire year. I really want to buy a house, and it is pretty clear that unless a miracle happens, when they look at my 2020 income I won't qualify to purchase anything, so I need to buy a home this year while I can use last year's taxes. So I said screw it, I am pulling the trigger and buying a house in Pocatello Idaho for around $200k. Then I can rent it out when it's time to move back to CA and get back to work. It is a very rural area, and I am purchasing from around a thousand miles away. I hopped on Zillow and Realtor.com. Nobody has profiles or history of sales. I reached out on Facebook and got a few recommendations. I commented on how Realtors need to update their profiles, and they pretty much all said they are too busy...which is great, but won't earn brownie points with me. I am buying from far away, so I need a Realtor who can handle all aspects in a really amazing way. It isn't custom for realtors anywhere I have worked, let alone in Idaho, to do floor plans or 3D, so I need a Realtor who is really on the ball. When I sold homes I went above and beyond in every aspect, so it is really hard for me to give someone else control when I know they won't do as good a job for me as I do for my clients. I need to feel confident that the Realtor knows the market. I need to feel confident they will make an appropriate offer and take great steps. I need to feel comfortable taking their advice on the Rental market. So far, almost every Realtor says "we can go over that later." No website. No videos. No real way to get a sense of how good or bad they are. I have to believe they are doing a great job based purely on trust. It is incredibly tempting to just go without a Realtor as a result. No Realtors have inspired confidence that I am better off with them. As a buyer, I now know how all my buyers feel, and why they resist so hard and insist I probably don't know anything. I really look forward to using this experience to improve my Real Estate technique once I eventually pass my test. [link] [comments] |
| Posted: 14 Oct 2020 02:35 PM PDT I know this is a sharp group so when I found myself stumped I immediately knew where to ask for help. Can anyone come up with a slogan/catch phrase centered around Halloween, toilet paper and pumpkins? Thank you in advance for the help. [link] [comments] |
| Posted: 14 Oct 2020 02:26 PM PDT What's your favorite service to use for print marketing? [link] [comments] |
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