Realtors: r/Realtors Weekly Common Topics Discussion (New or Part-Time Agent, Lead Generation/Marketing, CRM/Websites) |
- r/Realtors Weekly Common Topics Discussion (New or Part-Time Agent, Lead Generation/Marketing, CRM/Websites)
- Well, today was a new adventure.
- Real Estate Exam Practice
- Leaving my team
- How are/did you generating leads as a new/young realtor?
- Luxury Home Sales Surge, Highlighting U.S. Housing Wealth Gap
- Being a broker/agent/realtor in Louisiana vs. CO
- Never Split the Difference by Chris Voss
- Would you talk with your buyer client’s parents
- Backed out of house deal after home inspection results. Next buyers were able to contact me. How?
- Contract with Realtor
- Buyer is a not a citizen and needing a foreign national mortgage. Any suggestions on what lenders are currently issuing foreign national mortgages?
- Would You Guys Greatly Increase the MLS Dues?
- thought I would share what being a real estate developer is like in Houston TX
- Exclusive BUYER Representation? Should I use one?
- I need your hindsight 2020. Which job would you have taken?
| Posted: 14 Oct 2020 05:00 AM PDT Please use this thread to discuss the three most common topics in r/realtors.
Remember it is not permitted to promote your own brand, service, or company by any means, but you may comment on other services you've used; good or bad. Join our community discord for live chat and more: https://discord.gg/bsmc2UD Since this thread is likely to fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments] |
| Well, today was a new adventure. Posted: 13 Oct 2020 10:43 PM PDT Got a call from a lady yesterday, says she wants to talk about listing her home and buying something new. Fantastic, I need that right about now, right? I get her name and address, do my research, drive by, scope the neighborhood, check the tax/sales history, everything looks good. This should be an easy sale if I get the listing. I go today, meet the lady, she's older, little kooky, bit of an odd bird, talks a lot about the history of the house, people who lived there before, so on and so on, not entirely unusual for older people, they love to spin yarns about the house, you know how it goes. I indulge her, take the tour and I notice...there's pictures of a lot of people here and none of them are her. Kids, grandkids maybe, I don't think much of it. Until the actual owners got home. Naturally, they're startled as hell and confused and scared and wondering who the hell I am and why I'm in their living room. Apparently, this isn't the first time this has happened. The old lady is entirely out of her mind and did this same thing about two years ago, she's homeless and off her meds and has a mad-on for this house for some reason so when she gets loopy she shows up around the house and once or twice she's managed to break in. But yeah, she suckered some other poor Realtor into the same shit a couple years prior. She's never lived in the house, far as anyone can tell she's never actually even known anyone who has, she just got a bug up her ass about that house for no apparent reason. Cops came, reports, they took her away, thankfully the owners were understanding and cool with me. I left them my card so who knows, maybe if the old lady gets too persistent they'll decide to sell and I'll get the listing! How do you put that one in the disclosures? [link] [comments] |
| Posted: 14 Oct 2020 12:33 PM PDT I am studying for my real estate license exam and was wondering what are the best free practice exams I can take leading up to the exam. How hard do you think the exam is? Do you have any advice on taking the exam? Thanks, Any tips will help [link] [comments] |
| Posted: 14 Oct 2020 12:08 PM PDT Hi all. I just wrapped up my first year in August, and I've been a buyer's agent on a small team since I was licensed. I sold 7 homes(all over $275k), and only brought home $12k...I'm thinking of leaving my team, because I feel limited and taken advantage of. I'm considering moving across the state, so that has prompted my ideas of leaving, but the last few months I've been extremely frustrated. Our team is set up that new agents are strictly buyers agents. Eventually when and if 'they feel you're ready' then you can list property. This is frustrating for me because I've written 15+ offers in the last month that have all been outbid. Not weak offers either, I'm talking like $30k over asking with cash to bring forward if we under appraise. I'm watching all of this business go by on the listing side, and I'm not allowed to touch it. It makes me angry because I split my commission down the middle to help pay for the advertising of those listings, and I don't benefit even from that directly. I know a lot of teams are set up this way, but after all my cuts, I'm only taking home 1/3 of my commission. I have to make money, and I feel like I'm limited. Am I being irrational? My broker seems sweet and caring, but I can't help but wonder if it's just a front to distract me from the game she's playing. I feel like I'm going crazy, but if I were to guess, I'm probably not to first one to find themselves in this position. Can anyone who's experienced something like this chime in? Thank you!! [link] [comments] |
| How are/did you generating leads as a new/young realtor? Posted: 13 Oct 2020 01:53 PM PDT What are some current or past ways you were able to generate leads when you first started. In this market I feel both lucky and unlucky in that transactions are moving fast, closing within a month, yet unlucky because finding leads and building relationships while still being new is a major struggle. Any advice/comments are appreciated [link] [comments] |
| Luxury Home Sales Surge, Highlighting U.S. Housing Wealth Gap Posted: 13 Oct 2020 07:40 PM PDT By October 13, 2020, 11:07 AM EDT Demand for luxury homes is soaring, underscoring how the pandemic has intensified wealth disparities in the U.S. High-end sales jumped 42% in the third quarter from a year earlier, according to a report from brokerage Redfin. That's the largest jump dating back to 2013. Sales of mid-priced homes climbed just 3%, while affordable purchases declined 4%. While banks tighten credit for first-time buyers, the pandemic is hammering Americans who don't have the privilege of working remotely. The wealthy, meanwhile, are benefiting from the surging stock market and mortgage rates near record lows. Workers MoveThe cheaper borrowing costs are driving demand for larger properties with more room to quarantine. And with many corporate workers no longer tethered to office buildings, there's a shift away from expensive markets like San Francisco, New York and Los Angeles. "The luxury housing market normally takes a hit during recessions as wealthy Americans tighten their purse strings, but this isn't a normal recession," Daryl Fairweather, chief economist at Redfin, said in a statement. Even with low mortgage rates, first-time buyers could struggle to get approved for loans or find homes they can afford in a market where inventory is scare. And while housing has been a bright spot in the pandemic economy, the migration to the suburbs has been driven by wealthier Americans. Redfin defines luxury as the most expensive 5% of homes in a given market. High-end sales in Sacramento, 90 miles (145 kilometers) northwest of San Francisco, jumped 86%, more than any other major metro area, as Silicon Valley tech workers moved farther out. California BoomLuxury sales climbed 63% in California's Inland Empire, east of Los Angeles, and 61% in Oakland, a more-affordable city across the bay from San Francisco. They also increased 61% in Portland, Oregon, and 60% in West Palm Beach, Florida. In New York, expensive sales dropped 2% in Nassau County as inventory tightened. The demand for high-end homes is driving up prices, which gained 6.5% from a year earlier, while values for the most affordable properties climbed 2.9%, Redfin said. "Luxury listings are skyrocketing because high-end homeowners have the financial means and the flexibility to move during this pandemic," Fairweather said. "The growing supply of luxury homes for sale means that wealthy buyers have more options to choose from and a better chance of finding a home that checks all of their boxes." [link] [comments] |
| Being a broker/agent/realtor in Louisiana vs. CO Posted: 14 Oct 2020 08:35 AM PDT I'm currently a very new realtor in Louisiana and I intend to move to CO in May if the pandemic has chilled enough by then. I'm curious about how things work in CO. For example, I've been told real estate agents don't exist there, only brokers and I'm not sure what that practically looks like as far as how you work under another broker and how that responsibility is shared. Any insight is really appreciated [link] [comments] |
| Never Split the Difference by Chris Voss Posted: 14 Oct 2020 12:34 AM PDT This book is by FBI hostage negotiator Chris Voss, and has great reviews from realtors. If you would like to improve negotiation tactics, this book is for you! I am a few chapters in and it's off to a good start. It'll be the first book in the virtual real estate book club I'm starting, Better Every Day. Click on though and join us if that sounds good to you! [link] [comments] |
| Would you talk with your buyer client’s parents Posted: 14 Oct 2020 04:54 AM PDT I'm a first time homeowner so I hope it is okay if I post in here. I just have a question I need real estate agents to answer, since I don't know if my agent (who also is my friend) is being unreasonable. She is a new agent - just got her license in July btw. If you are representing a first time buyer and that buyer's parents are putting down close to 50% of a house's value so their son or daughter could get a nicer house in a good neighborhood for their children (parents grandchildren) would you have a problem with talking to those parents on the phone and listening to what criteria they want in a house (same criteria as buyer but a bit more strict - can't be an old house no matter what, and must have garage). My agent is refusing to speak with my parents and even yelled at me when I had my father on the other line on the phone so he could ask her a question - my parents live in another country so can't be here physically. [link] [comments] |
| Backed out of house deal after home inspection results. Next buyers were able to contact me. How? Posted: 13 Oct 2020 06:38 PM PDT Full context: Back in August, I put in an offer on a house and it was accepted. However, the results of the home inspection raised some red flags (the two big ones: 1. T roof would need replacement in next 2-5 years while also dealing with leased solar panels. 2. Evidence of water in the basement that I would've wanted to finish at some point. The owners stated on their contract that there was no issues with water but the inspector pointed out several places where there was. Fixing that would've required land sloping, shrubbery removal, more/better sealing, etc.). The sellers weren't willing to fix anything before moving out and also wouldn't budge on their price so I withdrew my offer. After my Realtor informed the sellers I was backing out, they demanded an in-person meeting to work things out, but I was done with the house at that point and finalized the offer withdrawal. Fast forward to yesterday; I get a Facebook message from a lady I went to high school with (someone I haven't spoken to since like 2006 and we weren't actual friends back then either, just went to the same school). She asked me if I had recently tried to buy a house at ~address~ and why I backed out. I wanted to be helpful so I gave her as much info as possible, and her explanation of how she saw my name doesn't make sense: Her exact wording - "The reason I ask is cause there was some one named (NIrvDamage) that was buying the house we bought but it was never closed when they ended up buying it that's why i asked" There obviously had to be some word choice accident or autocorrect there that she didn't notice but it made the sentence not explain how she saw my name. Would the seller's Realtor be able to give that info out? Thanks! [link] [comments] |
| Posted: 13 Oct 2020 11:38 PM PDT Quick question. Home is on the market and I remember when signing the contract with my realtor that she has 180 days to sell the home. I am having to move a lot sooner than I thought and I am considering renting my home instead. Do I have to wait for the full 180 days to pass before I can rent it or does the contract just prevent me from going to another realtor during that 180 day period? Thank you in advance. [link] [comments] |
| Posted: 13 Oct 2020 08:55 PM PDT I have some buyers that do not have a SSN, only a ITIN. Has anyone ever done a deal with a buyer using a foreign national mortgage? What lenders are the best for these type of deals? [link] [comments] |
| Would You Guys Greatly Increase the MLS Dues? Posted: 13 Oct 2020 06:14 PM PDT I am very, very tired of doing other agents' jobs for them. The market where I am has been quite healthy, bordering on crazy town, for about three years. And there have been lots of people getting their license and mucking around in the industry. I have been an agent for almost ten years, with multiple million dollars in sales (almost) each year. I am constantly having to solve problems for other agents, from teaching them about the possibilities of electronic signatures to pointing out (and correcting!) their title work so I can get things to closing. It seems like the only way to get rid of these agents is to make the dues hurt - make it a full time discipline, not some hobby you can half ass. This is the most tremendous financial transaction people make in their lives - why leave them open to amateurs and lazy agents? [link] [comments] |
| thought I would share what being a real estate developer is like in Houston TX Posted: 13 Oct 2020 05:29 PM PDT |
| Exclusive BUYER Representation? Should I use one? Posted: 13 Oct 2020 12:33 PM PDT To start off with, I'm a newer agent. I've closed 5 deals so far and this post is about a current Buyer I'm working with. I just received a referral from a family in which I just sold their house. They referred their in-laws that live 2 hours away. I have contemplated referring it out to a more local agent to that area, but I could really use the money and business building. Plus I have already done multiple out of town deals, so I'm confident I can learn the market well. My question for you all is, since I'm going to be putting in the time and effort (lots of driving, etc) should I make my clients sign a Exclusive Buyer Representation form? I'm in CA and this form is rarely used by agents here (I've never used one either). If they don't sign would you recommend referring it out? Any personal stories? I have a small fear that if we don't find them a home within a month, that they'll find another agent... Thanks ahead of time! [link] [comments] |
| I need your hindsight 2020. Which job would you have taken? Posted: 13 Oct 2020 02:58 PM PDT So I'm at a crossroads here. I'm interested in real estate and have been studying to get my license. I currently make an income of about $75k and have stupid amounts of free time. I figured I'd use that time to start a career as a buyers and eventually sellers agent. But I was just offered a job that pays $105k a year with a lot more responsibility. I wouldn't have free time. I live in one of the most expensive cities in the US, so the increased money is nice but isn't a game changer. And the real estate market is hot here. Agents: Knowing what you know now, which would you have taken? Why or why not? [link] [comments] |
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