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)
- How much repairs negotiation leverage do you loose paying a DD/Option fee
- How long did it take you to learn the contract aspects of real estate?
- Anyone make the jump and get their broker license?
- Remove contingency on “SALE”
- Scripts for getting listings from wholesaler referrals
- Changing brokerages
- Opendoor & iBuyers - Discussion About Investment Potential
- Realty One Group - 100% commissions?
- Calling on my brokerage's listings?
- How do you find artwork to stage homes?
- Etiquette on submitting low offers?
- Small high end boutique vs large firm
- Stamp duty reform
- Lead follow up
- Converting Online Leads
- General question about realtor fees
- Homes for Heroes & Professional Home Loans in CA
- How to contact an unknown listing agent that is out of state?
- What can I expect as a new realtor but with 17 years of legal practice
- Advice for a student pursuing a real estate career
- What should I look for in a real estate school?
- Bad/lack of advice from realtor
- Agent Stats
| Posted: 09 Dec 2020 05:00 AM PST 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] |
| How much repairs negotiation leverage do you loose paying a DD/Option fee Posted: 09 Dec 2020 12:17 PM PST If you pay a due diligence fee (I think called option fee on west cost) from a realtor's perspective how much negotiation power have you lost when comes to trying to get credit for repairs after an inspection. Buyer would say, already have a $1500 fee, and buyer would already be invested that fee + inspection cost. Current realtor doesn't think it would effects leverage much. As a seller (about to list my house) I would think it would give me a lot power to decline and see if they walk. [link] [comments] |
| How long did it take you to learn the contract aspects of real estate? Posted: 09 Dec 2020 07:48 AM PST New agent here. How long did it take you to be able to list/buy a house for a client knowing how to perform all of the steps? Communication is the easy part for me but once it comes time to out in an offer, I am lost. Can anyone recommend a good book/YouTube channel that will help me understand everything in a clear and concise way? Thanks [link] [comments] |
| Anyone make the jump and get their broker license? Posted: 09 Dec 2020 11:01 AM PST I've been considering getting my broker license for a while now and may make the jump in the next 12 months. Anyone have any experience with the transition? I feel like I still have a lot to learn to get to that point. Any resources, books, podcasts, etc. you would recommend? Licensed in Louisiana if it matters. [link] [comments] |
| Posted: 09 Dec 2020 10:39 AM PST I wrote an offer contingent on the SALE AND CLOSE of the buyers current house, which was accepted with an escape clause, and I listed the buyers house and accepted an offer on it yesterday. It's also contingent on the termination of an existing contract. The listing agent on the new house they're buying is demanding a contingency removal. I reiterated SALE AND CLOSE of their current house to which he responded that I need to remove the sale part. This way we're "under contract" instead of escape clause and we can begin inspections. Is this common to just remove the sale part? It's still contingent on the CLOSE so I don't understand the rationale. [link] [comments] |
| Scripts for getting listings from wholesaler referrals Posted: 09 Dec 2020 09:56 AM PST Hey guys, I work a lot of off market deals and I get a steady stream of referrals from wholesalers who can't get a deal under contract. Haven't had as much luck converting those leads as I think I should be having considering all of these leads are interested in selling and I'm usually pretty good at converting leads. Has anyone had any success converting these kind of leads? I imagine that part of the problem is these folks probably don't trust agents in the first place or they wouldn't be responding to wholesalers. [link] [comments] |
| Posted: 09 Dec 2020 09:08 AM PST How does it really work with changing brokerages in terms of the non solicitation language in the independent contractor agreements? It's basically just saying I can't take the company-generated leads with me, right? I plan on consulting my attorney but my understanding is that the language is pretty standard. [link] [comments] |
| Opendoor & iBuyers - Discussion About Investment Potential Posted: 09 Dec 2020 11:40 AM PST I'm kind of interested to hear others' thoughts about Opendoor (soon to be publicly traded) as an investment. Full disclosure: I have a position in Ticker: IPOB which is the company merging with Opendoor to go public (most likely). I see iBuyers as a huge part of the market 3-5 years from now. Definitely not a majority of all transactions but whereas right now I'm guessing iBuyers are a single-digit percentage of the overall number of deals annually I see this growing a lot moving forward. Sellers avoid commissions, avoid hassles, pretty much a "on click purchase" in reverse. My guess has always been that several years from now the process for many buyers and sellers is going to look much different than it does now, particularly in urban and developed suburban areas. Most lockboxes in my area are already Bluetooth and if there was a way for potential buyers to be pre-approved I wonder if a realtor would be involved in the first tour, for example. And with companies like Redfin and local copycats cutting seller-side commissions down from $500 in some cases and 1.0 - 1.5% in other cases I think the writing is on the wall that change is coming on the selling side too. But back to iBuyers I see this as being a real thing by maybe 2022, 2023 perhaps even making up 10-20% of all deals annually, particularly as their pricing algos get more accurate. I myself did an eye roll the first time I heard the concept but I believe they're approaching 1,000,000 closed deals so I no longer dismiss the concept as un-investable. For context, a quick Google search says that there are ~5,000,000 deals annually in the US. I am curious to know what other realtors who also invest in the stock market think about Opendoor (and iBuyers I suppose)? Yes yes, I know this is a group of REALTORs but please don't down vote if you disagree. Rather please let me know WHY you disagree. I'm a REALTOR too and I think it's good for us to have dialogue about big industry changes. [link] [comments] |
| Realty One Group - 100% commissions? Posted: 09 Dec 2020 11:03 AM PST Hi - I'm thinking about getting into real estate. I saw an ad on Facebook for this company and they're advertising 100% commissions. Is anyone familiar with this brokerage? Can you help me understand how they can do 100% commissions when I hear about Realtors only making like 60%? [link] [comments] |
| Calling on my brokerage's listings? Posted: 09 Dec 2020 09:57 AM PST Hi, I wanted to know if it seems to be okay to call around my brokerage listings. I want to start cold calling people around our listings as no one does it in the office. Is this something I should talk to the other agents or BIC about. The office is hands-off and everyone is working from home because of covid so I don't really know anyone so I am not sure how it will be received. [link] [comments] |
| How do you find artwork to stage homes? Posted: 09 Dec 2020 09:35 AM PST Do you go to HomeGoods/Target or seek out artists to find that right piece for the home? [link] [comments] |
| Etiquette on submitting low offers? Posted: 09 Dec 2020 09:32 AM PST I work with a few investors looking for rental properties, flips, and the like. I've been a realtor for a little over a year, and this is a topic that I find somewhat uncomfortable. Am I required to submit all offers my clients want to present in writing? At what point do I risk harming my own reputation with "lowball" offers? [link] [comments] |
| Small high end boutique vs large firm Posted: 09 Dec 2020 04:28 AM PST Hello I've been working at a small boutique shop that gets high end listings downtown. Been around 150 plus years etc. Someone from a big shop that's national is trying to recruit me to their firm. The guy sold 20m his first year and is now building out a team. He wants me to join the team. Anyone have experience with large vs small? Sounds like I would get fed a lot of leads with him. [link] [comments] |
| Posted: 08 Dec 2020 11:47 PM PST Chanced upon this blog post last week when browsing and thought I'd just share it here. There's a stamp duty reform ongoing and it'll be changing how houses are purchased here in the future. https://sohoapp.com/articles/freedom-to-move-stamp-duty-reforms-gain-momentum/ [link] [comments] |
| Posted: 08 Dec 2020 06:05 PM PST Hello all, I have been cold calling just listed/solds, expireds, and more. I have a good amount of people who say its ok to follow up with them every so often just incase their current desires change. I was wondering how do you guys keep track of the people you talk to whether it be by writing them down(which I have been doing), using a software/system, or just remembering when to reach out to who. I am looking for a more efficient way to keep track of these leads and would appreciate any insight, thanks! [link] [comments] |
| Posted: 08 Dec 2020 06:32 PM PST What's the best way to convert online leads? Yes they are dime a dozen but they are being converted by a ton of agents systematically! What's your secret to online lead conversation - if you are killing it? [link] [comments] |
| General question about realtor fees Posted: 08 Dec 2020 06:16 PM PST Hi Realtors of Reddit, My wife and I are selling our condo and shopping for realtors. We have a few picked out and one that we really like has a fee of close to $500 for marketing and other expenses. I wanted to get an idea of how common these fees are. I understand that realty is changing and these realtors are just trying to stay competitive but can I find an equally good realtor that does cost me an additional $500 upfront? Or is any realtor who does not have a fee generally not going to be the same level? Thanks in advice. [link] [comments] |
| Homes for Heroes & Professional Home Loans in CA Posted: 08 Dec 2020 08:27 PM PST Hi everyone, I have a couple of clients interested in both homes for heroes and professional home loans (for doctors, lawyers, etc.) but I am having some difficult finding a loan officer who specializes in these. Does anyone have any information of the basic requirements for these programs? Any help is greatly appreciated. [link] [comments] |
| How to contact an unknown listing agent that is out of state? Posted: 08 Dec 2020 05:57 PM PST What is the best way to contact a listing agent of an out of state listing to not go through Zillow or another agent that would rep the buyer? Can this be looked up via tax records for that state?(Oregon) Thanks! [link] [comments] |
| What can I expect as a new realtor but with 17 years of legal practice Posted: 08 Dec 2020 01:57 PM PST I am a practicing attorney and have been so for about 17 years. I run my own firm and I handle mostly real estate related transactions. Of course, I have many contacts with agents and real estate brokers. It's just part of the overall business. With that said, I recently passed my real estate salesperson exam. I'm not looking to do a lot of selling but if I could do even a few deals a year right now, I'd be happy. My question is, what should I be looking at in terms of a broker and the specifics behind commission splits, etc. I have a very good friend who is a broker. He is an independent broker so nothing like a Keller or Weichert, etc. I haven't discussed anything yet as I'm waiting to get fingerprinted but just wanted to know if I would be better suited to find a broker like a Weichert or something similar. Am I at a disadvantage being a practicing attorney? Before I was practicing law I sold insurance products (auto and home and life). I've been in the "sales" business for more than 20 years. Does that give me a heads up when talking to a broker in terms of "experience?" [link] [comments] |
| Advice for a student pursuing a real estate career Posted: 08 Dec 2020 05:27 PM PST Hi everyone! I'm a 17 year old high school student who plans on acquiring a degree in business after I graduate. I have spent a lot of time researching careers I may want to pursue, and I always come back to real estate; it seems like a good fit for me because it's something that interests me and I think it is a career that I would enjoy. I am aware that I don't necessarily need a 4 year degree to become a real estate agent, but I'm choosing to do so because I know there is a strong possibility that I will change my mind and decide to follow a different path, and I know that whatever I choose to do will be business-related because I have a strong interest in that field. When I turn 18 in July, I plan on getting some sort of job that will give me even the slightest bit of experience with real estate, but since I don't know much, I'm having trouble finding a starting point. Does anyone here know of any good jobs like this that will hire an 18 year old with no experience? I've also considered emailing real estate agents in my area just to ask if I could help them with anything just so I could get some experience, but I don't want to bother them, as they are all probably very busy and only want to have work-related conversations. Any advice at all would be extremely helpful for me and I thank you all in advance! [link] [comments] |
| What should I look for in a real estate school? Posted: 08 Dec 2020 04:57 PM PST Hi I want to take classes here in NJ but not sure how to choose one of good quality. Anything i should be looking for specifically? (Sorry if this has been asked before) [link] [comments] |
| Bad/lack of advice from realtor Posted: 08 Dec 2020 04:51 PM PST I'm not sure if this is the right spot for this post, but I was sure where else to go. My husband and I bought a house for the first time this summer. We were thrilled about it and really appreciated all of the work that our realtor put in—we really liked her. During inspection, one thing that came up was a super old heater (20 years). The inspector told us that it was out of warranty, but 'looked fine'. The age made us nervous but our realtor said that 'because it worked' we couldn't get any money from the seller and we're in Texas so we 'barely use it anyway'. Flash forward to now. We've been using the heater for one week and last night me had a gas leak. Today, we found that we'll have to spend $10,000 dollars to get the cheapest new system in because nothing was up to code. We were told that,if we'd had a heater guy come in, they could have told us during closing and possibly saved us the money. I'm not sure what I want. Maybe to vent? But I just don't see how our realtor didn't hear 20 year heater and advise us to get a specialist in... we really liked her and she supposedly specialized in first time home buyers who might not know to do that sort of thing! [link] [comments] |
| Posted: 08 Dec 2020 03:37 PM PST Where in MLS can I pull a report on individual agent stats? [link] [comments] |
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