Realtors: How to Lose a Buyer - FL |
- How to Lose a Buyer - FL
- Help me convince my sellers they need to reduce the price of their home.
- Stay Safe Out Here Fellow Realtors
- Do I need an LLC or S Corp?
- Do looks matter as an agent?
- Help on Florida Real Estate State Exam
- Direct mail idea
- Zillow and NAR sued over anticompetitive practices
- Why would a home owner respond to a letter, instead of putting the property on the market?
- Pre-foreclosures
- Starting out but taking time off
- Is it normal for new construction builders to not accept outside lenders?
- 8 Months After Listing. Funded and Closed!
- Can a Realtor sell own home off market?
- Sometimes the cash offer doesn't win.
- Lion Desk CRM - need advice
- A disaster deal. I don't trust the realtor anymore. Don't know what to do.
- Who should be on your “team”?
- Has anybody passed their RE exam within these past few months?
- What's it like hiring or working with digital marketing services/agency?
| Posted: 09 Mar 2021 06:59 AM PST So I had a great yet also frustrating experience yesterday with a potential buyer. We had a listing that was getting a ton of showings (it's a seller's market here at the moment) and we had one person who had called in directly claiming that their agent was unable to get a hold of me or my team member. We checked our phones and emails but no one with their name and/or number showed up in our logs. Since they had an agent that was showing them, we urged them to have them set up a showing so we aren't crossing any lines. Here's where the agent makes their mistake. The same person called again claiming their agent told them it's no longer available and that they're unable to show it to them. The seller had not accepted any offers and was still accepting showings so we explained that the home is still available. I first asked if they had signed a buyer's agreement with the other agent and they confirmed that nothing was signed and that they were just sending them listings and showed them a couple of times. So me being the kind person, I offered to open it up for them and let them walk through so they can at least have a chance to view it and decide if it's a good fit. It gets even better. The client had explained that their agent has only met with them twice over 2 weeks, and they've missed multiple opportunities to view homes because the agent is either unavailable or doesn't answer their phone. So I feel awful they are having this experience and ask if they understand how the buying process works. They have 0 knowledge as they are first time home buyers, and me having an abundance of knowledge for being in the industry for 10+ years helps break it down step by step. Suffice to say, they were extremely happy with my ability to answer almost any question they had and said, "You've given us more information in these last 15 minutes than the other agent did over the last 2 weeks." They asked if they could work with me instead, and I explained that they would need talk to their other agent so they are aware of the situation. Since they didn't sign a buyer's agreement they weren't bound to them so it wasn't stressful for them to do that. Agents, whether you're brand new or have multiple years of holding an active license, please don't assume business is just going to fall into your lap and provide you an easy paycheck. Some people need guidance and assistance, regardless if they are first time home buyers, or an investor who has a large portfolio of flip homes. We are to be their resource of information in regards to real estate, so I implore you to go above and beyond for your clients. Even if they are the type that are constantly unhappy with everything, don't give them a chance to say you didn't try or did your best. [link] [comments] |
| Help me convince my sellers they need to reduce the price of their home. Posted: 09 Mar 2021 09:29 AM PST The comps do not support the price we have it listed at. I showed them this yet they continue to refuse to reduce the price. No showing requests...and it sits. I know how this works - they end up blaming me then finding another agent and listing for less. Help me explain how important it is to price the home right even in this hot market. [link] [comments] |
| Stay Safe Out Here Fellow Realtors Posted: 09 Mar 2021 10:15 AM PST |
| Posted: 09 Mar 2021 11:27 AM PST I've noticed that the first thing half of Realtors seem to do is set up an LLC or an S Corp. I've always been under the assumption that there was some sort of tax benefit, but I talked to my accountant today and she said there's no tax benefit. She said the only benefit to the LLC is the liability protection but if I already have E&O through my brokerage I'm not seeing why that's necessary. Somebody tell me what the benefits are of setting up one of these? [link] [comments] |
| Posted: 09 Mar 2021 11:43 AM PST Hello. I am a 22 year old female. I want to become a realtor, but the problem is that I look YOUNG. Wearing a mask makes people think I'm 16 (I look young without the mask, but more so with it on). I don't wear heavy makeup either. Anyway, I'm currently part time at a restaurant while going through online school. Everyone there thought I was 16 up until they asked me my age. The problem with that is that they treat me like I can't do anything without instruction or that I'm super inexperienced with everything. Never mind the fact that I joined the military at 18 and have been working for the past 6 years. The question, really, is: would looking young turn off potential customers/clients? Would they assume I wouldn't be able to get them what they want/need? [link] [comments] |
| Help on Florida Real Estate State Exam Posted: 09 Mar 2021 11:29 AM PST I need help passing the Florida Real Estate State exam, I'll be taking the exam next month so I'm hoping if someone could point me in the correct direction as to what to study, and if they used an online program that helped or any study tips that helped them. I figured id just write down vocabulary on a flashcard but I don't know if that would be enough. I kinda just need guidance as to where to start or if there a good online program for it. thank you [link] [comments] |
| Posted: 09 Mar 2021 10:57 AM PST I'm a real estate agent and I had an idea for a direct mail campaign. It's pretty simple really- I'd buy about 100 $1 scratch tickets and put them in envelopes along with a handwritten note. These would be sent out to a particular neighborhood. I could introduce myself, give my number in case they ever needed something, and I could say something like "call me and let me know if you won anything!". That way I can get them on the phone and hopefully talk about real estate. I know it's kind of an expensive idea but I wanted to try it out because it's a fun way to get leads. My main question is: will this get me in any kind of legal trouble? I have a feeling it may violate some sort of fair housing law. Thanks [link] [comments] |
| Zillow and NAR sued over anticompetitive practices Posted: 09 Mar 2021 10:55 AM PST |
| Why would a home owner respond to a letter, instead of putting the property on the market? Posted: 09 Mar 2021 09:24 AM PST Prospective buyer here - I was considering sending mail to homeowners, but I have a hard time figuring out what their incentive would be to respond to my letter, rather than taking it as a prompt and putting the house on the market, where they could get more bids? Sounds like realtors here are having some success by creating a network, but would a prospective buyer have any? [link] [comments] |
| Posted: 09 Mar 2021 08:54 AM PST Hello, do any of you have any experience as to how to work pre-foreclosures? I see the list is growing in my area and I was thinking that some of these people could sell saving themselves the foreclosure on their credit reports. I know I would need to involve the lender, but what else is different? I would appreciate any advice, tips or experience you could throw my way. Tell me it's stupid if it is. Edit to add that I am in Arizona. [link] [comments] |
| Starting out but taking time off Posted: 09 Mar 2021 08:50 AM PST Hello everyone, I'm turning 18 in one month, and I have about 6k saved up to start as a realtor. I have everything set with my course and plan on taking my exams really soon. I have a really good situation because I am going to join a team with a top producer who I've been working with for the past 9 months or so. He really likes my work ethic and told me that when I start out he will make sure to both keep me in check and to make sure I start off well. The main problem is the office fees are very high due to the structure of everything. I would be spending about 400/month on office fees alone. I know I would also have some other fees and expenses on top of this, so this is where my problem starts to come in. I'm fine with having a monthly fee like that and taking the leap, but I know this year I'm going to be spending a lot of money going on vacation with my different friends, and going away for competitions. This could take up more than 1k of my money and be about three separate times when I would be gone for about 5 days throughout the summer. With such high monthly office fees, I'm not sure if this would financially make sense for me to start and take all of this time off. So because if this I've been debating whether or not I should start once I turn 18 or after the summer is over. The con to starting after the summer is that I'll be in college then and I'd be having most of my time taken up from that. I'd like to have a good structure set before going to college and having more of my time taken up. I was wondering what you guys think about this situation. [link] [comments] |
| Is it normal for new construction builders to not accept outside lenders? Posted: 09 Mar 2021 06:08 AM PST Hi! I'm working on my first set of buyer clients as a Realtor. We've been working on finding a house in the metro ATL since January. Obviously the market has not been very kind to us. They found a new home community that they love and have plans under their budget. The ONLY issue is that the builders won't accept their lenders. I've heard of using preferred lenders to get credits for closing costs, but never just flat out not allowing outside loans. Even my mentor said it sounded fishy but we can't find any info on that. What do you think? My client is approved for 320k. It's a conventional loan, but through some kind of program that is based of income from last year. He's self-employed and the pandemic was very kind to his business. That's is why he is adamant on using this offer, since probably won't get approved for that much once this offer expires. Edit for update: The sales agent I was speaking to about this was very adamant that requiring the preferred lender was a "Sellers" policy. Not sure if this is their loophole to force everyone to use their lenders or not. My mentor and client both agree that this is a huge red flag, and that we should probably just look somewhere else. If I had time (money) to dig a lot deeper into this myself, I would. [link] [comments] |
| 8 Months After Listing. Funded and Closed! Posted: 08 Mar 2021 03:45 PM PST Just hoping to provide a success story to my fellow agents out there. Acquired a listing in Houston and went on the market the second week of July, just after the 2nd wave of Covid hit. After looking closely at the market and evaluating the property, we decided to list at $645K. We felt really good at this price. We went under contract after about 4 weeks on the market at $625K, then the buyers backed out during option. We relisted at $625K. It was nearly September by this time and the activity really died down. Had a few really low offers but nothing of substance, and no parties that were willing to come to acceptable terms during negotiations. Almost zero showings in December but I asked by clients to remain patient. I gave them all the options at every step along the way and advised about the pros/cons with each approach. We stuck with our price. I really believed in it. At this point, most agents will place pressure on their clients to drop the price. January came and my client offered to use the property as a quarantine (it was vacant) for one of his employees due to Covid. During this 3-week stretch, we received inquiries from 9 different parties, informed them of the situation and stayed in touch to provide updates. Property becomes available 1st week of February and within that week, we get 3 offers which turns into a bidding war between 2 of the parties. Property ends up getting under contract at $650K with a buyer that chose to proceed unrepresented (saves 3% commission and equates to ~670K purchase price with that accounted. No negotiations during option (we had provided the previous inspection prior to getting under contract and were firm on this front), lender appraisal came in at $650K and we finally closed today! All that to say, happy we didn't repeatedly drop the price and that we stuck with the data supporting our price. Stay true to your clients and always re-evaluate at every step along the way. We looked at the numbers in every possible way and felt comfortable sticking to our price. Glad this one worked out for my sellers. They'll be using me again this spring/summer on another property in the family's estate. Definitely makes this career worth it when you can prove your worth to your clients and help them maximize their investment. [link] [comments] |
| Can a Realtor sell own home off market? Posted: 08 Mar 2021 09:53 PM PST I am a new Realtor and have only done 3 transactions, and am looking to sell my own home. A friend of a friend called and gave a very strong offer. They don't have an agent. Am I allowed, as a Realtor, to sell my home off market like this? It seems like I should be able to, but my principal broker said I have "superior knowledge" and would lose in court if something came up. [link] [comments] |
| Sometimes the cash offer doesn't win. Posted: 08 Mar 2021 05:27 PM PST Had a deal that closed recently. The seller was willing to take the deal with a loan because she saw herself as the buyer. When she originally bought her home she kept missing out against cash offers. So she kind of wanted to pay it forward. But when we asked the agent to make one little change, they made a silly request back to us about a little finance thing and it completely changed everything. A few hours later the agent replied that they changed their mind and just to ignore their earlier request. It was already too late and she had already accepted the cash deal. She snatch defeat from the jaws of victory. We have won several deals recently because of our communication. That won't beat out much higher offers but when all else is equal, the agent they trust gets some consideration. So the moral of this story is don't let your buyers give up just because they're going up against cash. And don't get in your own way. [link] [comments] |
| Posted: 09 Mar 2021 12:26 AM PST New agent, had my license for 6 years but going to finally use it this year. Has anyone's used LionDesk as their CRM, what do you think? Currently on the free trail version and it seems a bit slow but overall ok If you can suggest any other ones or tips in general would be great Thanks in advance n [link] [comments] |
| A disaster deal. I don't trust the realtor anymore. Don't know what to do. Posted: 08 Mar 2021 12:32 PM PST I am in a low-inventory market at the moment and last week, a house went on the market that suited our needs. We looked at it, liked it and talked to our realtor about putting in an offer. The house has a septic system which the sellers stated was in functioning condition but no inspection had been done. It was last pumped in July 2020. This home is being sold by the children of the owner who passed away right after July 2020 - he had been in the hospital for several months. No one has lived in the home since but it has been heated and maintained. Our realtor informed us that septic system inspections can't be done in the winter and the county requires 1.5x the estimated cost of replacing the septic system be put in escrow on closing - until the inspection can be done. Our realtor told us that because it is an estate, he's sure the sellers wouldn't want to deal with having all that money in escrow and that it wouldn't be wise to have the septic inspection contingency if we wanted our offer to be accepted. He told us that the amount that usually needs to be into escrow is $15000-$18000. He advised we offer above asking on the home, and ask the sellers to put in that amount above asking to escrow and we put the rest in (that way they get what they were asking and 9k over if septic compliant). He said we shouldn't offer more than 10,000 over asking because he didn't think the home would be appraised for much more than that. We took his advice and agreed to offer $9000 over asking the seller to put $9000 into escrow towards the septic...with the understanding that we would then need to put the remaining $6,000-$9,000 into escrow. They accepted our offer and we signed the purchase agreement. Fast forward, the estimates we are getting are more to the tune of $35,000 (so over $50,000 cash into escrow), not the numbers he relayed to us that informed our decision. I spoke to two of my colleagues who just purchased homes in a similar price range and style and they stated they paid at or below asking with the sellers covering some of their closing costs and were never advised by their realtors to remove any contingencies. We obviously agreed to what he said but I feel like he made us feel like that was the only offer we could make that stood a chance, and poorly advised us to forgo the septic inspection - as well as not giving us accurate information about what kind of costs we were looking at. Our 2 week inspection clause ends next week and our closing date is in 5 weeks. We could swing the additional $9,000 but we do not have an additional $40,000 in cash to put into escrow, nor do we think the home is worth this much. This in turn makes it so we are paying overall way over market value for the home and would be upside down on it from the get go. What should we do? [link] [comments] |
| Posted: 08 Mar 2021 02:16 PM PST As a real estate agent a benefit to add to clients is having a strong team of people to recommend them to. What kind of people do you most often recommend clients to? For example: mortgage lenders, home insurance, inspectors, carpenters etc. [link] [comments] |
| Has anybody passed their RE exam within these past few months? Posted: 08 Mar 2021 04:23 PM PST Just wondering if anybody has passed their RE exam recently, and if they've received their license number in the mail. I passed my exam almost 2 months ago and still have yet to receive anything. They deducted all the fees from my bank account within the first few days but no license. (I'm in California btw) [link] [comments] |
| What's it like hiring or working with digital marketing services/agency? Posted: 08 Mar 2021 12:55 PM PST My sister-in-law just got her real estate license and feeling overwhelmed. I gave her basic pointers about getting her facebook page and stuff setup, but she just wants to hire someone to do her online marketing for her. I googled and found digital marketing services and have some sites but wanted to know if anyone here has hired someone, what was the experience like, and was it worth it? [link] [comments] |
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