Realtors: Future of the Housing Market / Crash |
- Future of the Housing Market / Crash
- When to interview with a brokerage ?
- Hilariously bad listing photos
- With inventory in short supply
- Should I stay in my home province or move to a big city province?
- How much would it cost to be a agent in Florida if you make no commissions for a year?
- Best online real estate school for WA state?
- Commercial lease - commission agreement
- Haven't officially listed my house & having a buyer's agent do a showing on Tuesday. Any tips?
- Any realtors here that made a pivot to the mortgage side?
- REALTORS - what was the last annoying thing a client did?
- Starting a team
- Open house
- Question for realtors
- Houses are flying off the shelves - except townhouses in our community
- How useful are Coldwell Banker's marketing tools? KW vs. CB
| Future of the Housing Market / Crash Posted: 15 Mar 2021 06:22 AM PDT It seems like everybody is trying to predict when the next housing market crash is going to be but I'm not here to do that. I honestly just want to know where other realtors think the housing market is going in the next couple of years with rising rates and mortgage forbearance. My Take: I don't believe there is going to be a housing market crash in the traditional sense. I think as long as rates stay at or below pre-pandemic levels we shouldn't have a problem. Lots of the people in my office are spelling doom and gloom with mortgage forbearance but from the research I've done it just doesn't seem that bad. 2.7 million houses in forbearance with the number decreasing everyday. Not to mention its not like all of those houses are going into foreclosure, the bank wants to get paid at the end of the day. Also forbearance ends relative to when you applied for it so these homes will slowly trickle into the market and not all end on the same day which would be catastrophic. Oh yeah and were 2.2 million homes short in inventory. Obviously some markets might get hit harder then others but I don't see there being anything greater then a 20% reduction in home values and flip to a buyers market. At that reduction we would be back to pre pandemic pricing so it wouldn't really be a crash in my mind. Worst Case Scenario I think the worst case scenario would be that all this money printing and government spending will lead to very high interest rates so buyers will give up. Sellers will finally get the message that its a sellers market and as soon as inventory starts increasing and they see homes they like there will be a huge surge in listings causing a buyers market. Then the cherry on top we'll get hit with a mortgage forbearance ending which will add to the overflowing inventory. Leading to falling values. But part of me feels like that's highly unlikely but at that same time who knows. What are your thoughts on the future of the market in the next couple of years? [link] [comments] |
| When to interview with a brokerage ? Posted: 15 Mar 2021 09:34 AM PDT Howdy! I'll try to make his brief but here is the low down: I have completed my real estate pre licensing course, and have scheduled the state exam. I plan on moving to a new city after I pass the exam (April 5th). Should I start reaching Brokerages now in the city i am moving to before taking the exam? or should I wait until i pass the state exam? I currently do not have a lease (it's a family property) so essentially the minute i pass the exam, I can move. Thank you in advance :) [link] [comments] |
| Hilariously bad listing photos Posted: 14 Mar 2021 06:42 PM PDT I know Realtors aren't necessarily photographers, and not every seller wants to pay for a professional photographer, but I've seen some truly terrible listing photos over the years. I've seen some that have pictures of the residents in the photos, some where no effort has been made to clean up the house at all, crooked photos, low resolution, poor lighting/glare, terrible angles. Share some of the worst listing photos you've come across here. Today I came across this gem: https://www.zillow.com/homedetails/2524-Milford-Rd-University-Heights-OH-44118/33679328_zpid/ [link] [comments] |
| With inventory in short supply Posted: 15 Mar 2021 11:49 AM PDT What are ways you are going out in your market and looking for inventory? What are successful techniques that have helped win you listings? [link] [comments] |
| Should I stay in my home province or move to a big city province? Posted: 15 Mar 2021 10:52 AM PDT I am 18 years old and I live in alberta, and I have made a decision that I want to be start my real estate agent career and have thought about where to take it. I want to be licensed in Vancouver because I have looked at the realtors listing their is crazy expensive even for a normal apartment, but yet I don't know the places well as I've only visited vancouver 2 times. I have also thought about taking my license in my home province, Alberta. Normal Houses here range like 300k depends on the neighbors. But my question is, does it matter where I wanna take my license? I really don't want to regret taking my license. [link] [comments] |
| How much would it cost to be a agent in Florida if you make no commissions for a year? Posted: 15 Mar 2021 10:47 AM PDT |
| Best online real estate school for WA state? Posted: 15 Mar 2021 10:40 AM PDT Hi all! I'm currently living in California, but moving to WA state in a few months and want to get licensed in that state. I'm looking for the best online school to help me pass the exam. I'm leaning towards Real Estate Express, as I like that it offers different packages for coursework (specifically the Exam Preparation Plus Bundle), but I've also seen reviews from people saying it's awful and they didn't pass? Does anyone from WA like RealEstateU, Rockwell Institute, Kaplan, and found it prepared them well too? I'm a pretty dedicated student and studier, (I previously did hair and passed my cosmetology exam first try), so if it's a matter of a large workload I've got it covered, but you tell me! I've also seen people mentioning that've had to use Real Estate License wizard to help them pass, along with real estate school, so I'm just trying to figure out what the best option for myself is. Thank you! [link] [comments] |
| Commercial lease - commission agreement Posted: 14 Mar 2021 11:18 PM PDT Working on my first commercial lease in TX and I'm representing the tenant. I sent landlord LOI and specify my commission %. They countered my client's offer and also asked me to send them a commission agreement. When I get this commission agreement to the landlord am I suppose to make sure that we both agree on the commission being paid before I proceed with countering? What is the standard commission % for a commercial lease for about $200k? How is it usually paid? Everything upfront once contract is signed? 30 days later? Part up front and again when they renew? Etc. Thx [link] [comments] |
| Haven't officially listed my house & having a buyer's agent do a showing on Tuesday. Any tips? Posted: 15 Mar 2021 01:50 AM PDT I (homeowner, not a realtor) plan to list my house on April 1st (I'm currently in the midst of doing minor cosmetic upgrades - house is built in 1983) & told all my friends & neighbours about my intention to sell. Weeks later one of my neighbours texts me saying she spoke to a realtor friend that has clients looking specifically for a house in the area. I call her up & the story is that the buyers she has have a firm sale of their house on Wednesday & really want to move to my school district. There is very low inventory in my area. I say I'll offer 2% commission to her (the standard here is 2% for the buyer's agent & 2% for the listing agent) & can negotiate a great deal for the buyers since I'll be saving thousands by not using a listing agent in this case. I sent the realtor photos of my house via text & hours later she asks if they can look on Tuesday at 6:45pm. I say "for sure". I guess I'm acting like my own listing agent; any tips to make this process easy for everyone involved & to ensure a likelihood of a strong offer & sale? I'm motivated to get my place sold! [link] [comments] |
| Any realtors here that made a pivot to the mortgage side? Posted: 14 Mar 2021 09:11 PM PDT Curious about this as Ive been thinking of making the move. I hold licenses in two states, (FL and NY) and am falling out of love with showing homes! Not that i dont want to nor is it because of lack of success but more so because of time. I already have a hectic schedule with family and making it to appointments is tough considering some of the areas i service can possibly be up to 1hour away. I am a killer at lead generation for buyers and sellers but id prefer to be able to do it all from home without having to leave the house, hence wanting to be the one writing those pre approvals. Anyone have any feedback, or have done the same? What made you take the leap? [link] [comments] |
| REALTORS - what was the last annoying thing a client did? Posted: 14 Mar 2021 02:57 PM PDT Yes. We all know clients can be a pain in the ass.. So humor me. What was the last super aggravating thing a client did? The more crazy the better [link] [comments] |
| Posted: 14 Mar 2021 06:30 PM PDT I have been flying solo for about 6 years now. I have gotten to a point where I am almost getting too busy and would like to cut back on my hours to have more family time and hopefully travel more. I have been thinking of starting a team for a while now by hiring admin and buyer/seller agents. Just curious if anyone has gone down this road. Pros /cons to the team approach? Would you recommend hiring a coach while getting started? Or some other training? Thanks! [link] [comments] |
| Posted: 14 Mar 2021 03:55 PM PDT Hey guys I held my first open house this weekend . I'm the co listing agent on the house and I'm fairly new to the field . I started two weeks ago and I can't forgive myself for what I did at this open house . We had lots of activity on the house , I'm showing a group around and they ask me for the price , I say it and he throws back a price at me 25k less than what we listed the house for . Instead of saying okay let's put it in writing and I'll present it to the owner I got stuck stumbled over my words and said " that's an option " . I just feel like I lost an offer because I wasn't quick on my feet and just left a bad impression. Any advice for me ? I reached out to them after the open house ended and they were looking at other properties in my area . I brung up the offer again and they said they have to speak with their wife blah blah blah . Now I'm planning on reaching out again to them on Monday , what should I say ? How should I go about it ? Give me any advice you have about the industry. I'm located in NY Thank you A new clueless realtor [link] [comments] |
| Posted: 15 Mar 2021 05:14 AM PDT We are going to be listing our house. We're finishing the last few touches on it. Our house is comparable to a brand new build with all the upgrades. The only thing is doesn't have is a pool. Tldr: why don't realtors care about sellers? Only buyers and a quick sale? And act like they're doing you a favor? I'm sorry this is long. So, here's the funny thing. We haven't solicited a single realtor. They've all solicited us. We ask for comps to see price wise. We tell every single one, we don't need to sell. If we don't get what we want, we're going to stay. We do love our house. We took many years and money to make it into a home. (I know homes don't sell, houses do.) We want to build so that's the reason for selling. The comps in our area. Same bedrooms or less. Less square footage. Less land. Needs property brothers to come in and gut and redo everything. (Needs major remodeling/renovation help.) no joke. Sold for $220-$260 I know as a contractor you'll pay less than a homeowner for improvements. We paid roughy $150k for improvements. We've spared no expense. And that's working on cash deals. So a contractor probably would have paid $100k. We show them before and after pictures and every single realtor has commented on how beautiful and huge our house is. They say, "you'll be pressed to sell it for $250 you might have to accept $195. Appraisals don't count improvements. Only sq ft and lot size." But the comps validate what we want. More important validate what it's worth. They add, "you need a quick sale. And I say we list it for $195. To get a quick sale and you moved out. You don't have a pool so not many people would be interested. And after looking up the county records your house isn't as big as I thought it was." After we tell them that we'll stay, they tell us good luck on renting it out or selling it. Never once was a mention of us renting it out. And if we're gonna stay, obviously we're not gonna list it. Ummm. No. Let me be clear, we understand we're not gonna get every penny back of what we paid into the house. We know that. But in terms of investment, who would spend money just to get a return investment of less than what they put into it? Is our house the biggest? Absolutely not. But the layout makes the house feel a lot larger than it actually is. We've walked into houses that were almost twice the size and it felt a lot smaller. Seriously. But what kills me: our house is one of the only two fully renovated from top to bottom homes on the market. The other house is bigger and more land. They had two less upgrades than ours. Went under contract for $500k the first week. (I get that. 2x the size of house and 2x the size lot.) I get it went for a lot more. We're not looking for $500k. Not a single realtor would/will list our house (once completed) for $279. Because quote, "no one is going to want a house without a pool. And you can't count the renovations you've done." End quote. [link] [comments] |
| Houses are flying off the shelves - except townhouses in our community Posted: 14 Mar 2021 05:04 PM PDT One unit sold after 120 days on market and sold for $6000 below list. It was fully, totally remodeled and had lots of people coming through it still... I just listed another unit which was remodeled a few years ago, is in a better area of the community, and is one room larger and priced it a little over that recent sale. It's been one week and people have come through but zero interest. I can't wrap my head around it. Anyone have any ideas or thoughts on why houses are selling and townhouses are sitting. [link] [comments] |
| How useful are Coldwell Banker's marketing tools? KW vs. CB Posted: 14 Mar 2021 04:38 PM PDT I'm 18 years old in Florida and newly licensed. After interviews with multiple brokers, I'm split between Keller Williams and Coldwell Banker. The biggest pro's of Coldwell Banker that I've found compared to KW is that they offer so many marketing resources. They have their Listing Concierge that starts at $250ish per property and includes digital and print advertising, as well as many other things seen here https://imgur.com/a/a8MZEvR along with many other tools in their online hub. The office allows unlimited colored copies and the broker explained that the company subsidizes many costs and they have exceptional rates on things. I feel that these would be important to get listings as you can seemingly offer your seller the world in terms of advertising. The con's of this CB office I've found are that the office is much smaller than the KW office and they do much less volume, the training is also less frequent than KW as they've got multiple a day sometimes compared to this CB being a few times a month. For KW, they've got a $36,000 commission cap which is a good advantage for long term earnings, more frequent training, I've heard their CRM is better but I've heard multiple opinions, and their office is bigger and everyone seemed so welcoming as I was taken on a tour. I feel like they have so many options to ask someone for help during anything related to real estate. The office culture seemed great but how important is that? Is training and a good office environment more valuable than the resources provided by Coldwell Banker? I'd love to hear some opinions, thanks! [link] [comments] |
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