Realtors: Look. I need to say THANK YOU! |
- Look. I need to say THANK YOU!
- Is it okay to make calls on the weekend?
- Real Estate Exam questions drive me insane - please help
- Best Brokerages in California? (Bay Area)
- Accountability - who’s with me?
- Top 10 Best Book List for Realtors (experienced)
- How much should I have saved up before I become a Realtor in Ontario
- Huge opportunity - need feedback on terms
- Picky personal friends went with another realtor and I have mixed emotions about it.
- New MLO
- Hello, the reason I am reaching out to you all today is because I want to be a real estate developer.
- Realtors - what would make your day to day easier?
- Appraisal Escalation
- I'm an aspiring real estate photographer what would be the best approach to gain realtors as clients?
| Look. I need to say THANK YOU! Posted: 19 Mar 2021 03:55 PM PDT I KNOW we (non realtors) complain about your fees. I WAS one of them...BEFORE. Never. Again. I think that I will NEVER say anything but how grateful I am for realtors, forever. After all the nonsense with our close I think mine made like $1.45 an hour. Thank you for all you do. I'm grateful. BRB headed to the subreddit for Title Companies now. Happy Friday ! [link] [comments] |
| Is it okay to make calls on the weekend? Posted: 20 Mar 2021 06:48 AM PDT I got a bunch of apartments from my broker and need to call the landlords. Is it typical/professional in real estate to call people on the weekends? I guess this extends to buyers/sellers too. [link] [comments] |
| Real Estate Exam questions drive me insane - please help Posted: 20 Mar 2021 09:00 AM PDT I'm doing the last course exams for the Colorado Real Estate School and I keep getting questions where they don't make any sense to me. It's not just "Oh, I don't know this one.", it's "Everything I've been taught so far goes against this being the correct answer." I'll post one questions that is particularly irking me. Please help me understand what I am missing here. I keep fearing there will be questions of this nature on the actual exam that just don't make sense, or maybe I'm too dumb, idk. Broker Betty is preparing a closing statement on the sale of a house for $177,000. Betty is holding a $3,000 earnest money deposit and the balance of the buyer's down payment is $22,000. The balance of the purchase price will be financed by a new mortgage, and the buyer is paying 2 points loan origination fee. The seller's broker will receive a 6.5% commission and the buyer will pay $2,250 in miscellaneous closing expenses. Real estate taxes for the current year are $2,050. The closing will take place on June 30. How much cash will the buyer have to bring to closing? (This is specifically a Colorado question. Colorado uses a 365-day year for prorations.) A) 27290 B) 26279 C) 25040 D) 24765 Correct Answer: B) $26279.04 Explanation: $177,000 - $3,000 - $22,000 = $152,000 X .02 = $3,040 + $22,000 + $2,250 - ($2,050 / 365 X 180 = $1.010.96) = $26,279.04 I made bold the part of the equation that is confusing me. First, because taxes are paid in arrears, and therefore in full by the buyer next year, if anyone brings money for the taxes, it would be the seller to pay his proration. (This is the case in every other questions regarding property taxes) Second, even if the prior point is wrong, and the property taxes are paid at closing by the buyer, why would the buyer be billed 180 days? The seller occupied the house for 180 days, where the buyer will occupy the house for 185 days, so shouldn't they be charged that proration for taxes? Seller occupancy: 31+28+31+30+31+29 (Buying owns closing day in CO.) = 180 days Seller occupies. 365-180=185 Buyer occupies. Is the question bogus/misleading, or am I just totally missing what's going on here. I keep occasionally getting questions that are frustrating me like this. Edit - Just for the hell of it, here is another one: Mr. Thomas wanted to remodel his business, so he got a loan of $43,000 at a rate of 6% He paid the loan off in 8 months. How much did Mr. Thomas pay in interest? A) 211.5 B) 1720 C) 2580 D) 3580 Correct Answer + Explanation: 43,000*.06 = 2580 / 12 * 8 = B) 1720 BUT THAT'S NOT HOW AMORTIZING LOANS WORKMBGBSLIBRGSJDFGISFBS.KFNIWON The interest would be recalculated each month as the loan amortizes from month to month. Am I wrong? I'm, like, pulling my hair out. Am I wrong to assume it is an amortizing loan? As opposed to a straight/balloon loan? [link] [comments] |
| Best Brokerages in California? (Bay Area) Posted: 20 Mar 2021 02:04 AM PDT |
| Accountability - who’s with me? Posted: 20 Mar 2021 04:41 AM PDT Looking for a daily accountability group to join/create - via Google or Zoom - prospecting folks. I'm on the East coast, and usually start around 8 am. I set lofty weekly goals for myself - on how many contacts I need to get. We all know that a successful and rewarding real estate career is a numbers game. As are many careers. More calls = more contacts = more potential clients = more productivity & reward & accomplishment. Looking for a few others (3 or 4) who think the same. Who's game? Only serious prospectors need reply. Thanks! [link] [comments] |
| Top 10 Best Book List for Realtors (experienced) Posted: 20 Mar 2021 12:27 AM PDT Title says it all. Over the years of your career what are your top 10 books that have developed you or a specific skill in real estate [link] [comments] |
| How much should I have saved up before I become a Realtor in Ontario Posted: 19 Mar 2021 11:01 PM PDT I'm almost done part 1 of the course to become a realtor. This was my dream job for many years but it always seemed to expensive to get into. By the time I finish the course I should have about 12-14 grand saved up to get me through the beginning of my career. My expenses are roughly $2100 currently for everything (even $100 added for fun) I guess my question here is; how much should I typically have saved up with a current $2100 monthly budget? I've done sales in various fields but I never got the same thrill as i once did when I did door-to-door sales. [link] [comments] |
| Huge opportunity - need feedback on terms Posted: 19 Mar 2021 10:12 PM PDT What would you think if you were offered the opportunity to earn .75% to 1% commission on $28,500,000 in inventory over a 2-3 year time period by sitting a model home in a neighborhood. It would mean doing 30-35 hours a week in the model and being responsible for transaction coordination. The listing agent would cover all expenses of listing and marketing. Also ALL commissions for unrepresented buyers would be split 50/50 with the listing agent for the neighborhood including any listing of outside property that resulted from a neighborhood visit. It's not a high % amount when just looking at the commission rate but it's an opportunity that is valued at over $200k-300k over 2-3 years. Is this a good opportunity? [link] [comments] |
| Picky personal friends went with another realtor and I have mixed emotions about it. Posted: 19 Mar 2021 03:23 PM PDT I recently had some longtime family friends come to me saying they wanted a New Home north of Dallas for between 200k-230k with 4 beds 3 baths preferably close to the college here (UNT) as one of them works at the school. I sat down with them and they said they'd be looking at other realtors for a week before making a decision. Immediately I realized I was not going to end up working with them for long because I know there are agents that will say yes to anything as long as it gets them a signature in the right spots. Nevertheless in our buyers consultation I did try to lay things out. DFW is experiencing a massive inventory shortage homes are selling for 10k-30k over asking within a week. Hell I myself had two listings this month go for over asking with 3 days of listing. Another issue is that the average home price for this specific area like 300k and higher for new construction. They still seemed convinced that somehow new homes were not effected by this shortage. So that week we visited two declvelopments. A lennar and a geheld(?) Community. There were maybe 2 unsold unfinished models between both builders and 4 lots left total between them. And the starting price was like 350k for both. Of course they loved the model homes we could see and asked when the show home would be for sale (another year or two easily) cause they're just positive they could get it for a significant discount. Even the sales people were shocked at just how out of touch these buyers were. I had hoped this reality check would allow us to seriously discuss how we can move forward but it was not to be. Anyway I told them as we parted that I wasn't going to lie to them. I wasn't doing to blow smoke up anyone's skirt just for a signature. I explained to them how the market is doing and ways we could still get them into a home they'd love but by either raising their budget or looking at fixer uppers or resales. They called me yesterday to say they were going with another agent that said she could help no problem. It sucks. At the end of the day I don't lie to customers. I don't inflate CMAs to get listings and I don't pretend we're in a buyers market to get buyers. I've lost a lot of sellers and buyers because of this. I've seen plenty of homes sit on the market for months longer than they should've cause they met an agent who told them "no 600k isn't an unreasonable asking price!". End rant [link] [comments] |
| Posted: 19 Mar 2021 06:30 PM PDT Hi everyone! I just became a Mortgage Loan Officer (1st career in Real Estate) and am curious to get the perspective of Realtors/Real Estate Agents on what they're looking for in a Mortgage Loan Officer. What do you feel sets one apart from another? I'm not looking for business, just seeking to better understand this side of the business. [link] [comments] |
| Posted: 19 Mar 2021 06:20 PM PDT However, I'm not quite sure where to start. My goal is get somewhere where I can learn as much as I can about the business. What would be the blueprint to becoming a top developer in the country? How can I break into this field? I am currently 23 and in the progress of completing college. In this too young of an age? Should I wait awhile? I look at some top developers on the Forbes list and noticed they are all 40 years older than I am . I am also in the process of obtaining my salesperson license. I understand that I'm in a booming market here in Los Angeles, Ca, but should I start somewhere cheaper? Please help! Thank you in advance for your advice. [link] [comments] |
| Realtors - what would make your day to day easier? Posted: 19 Mar 2021 06:03 PM PDT Hey Realtors, what are some of your biggest pain-points that you'd like to see solved with technology? Any insight is greatly appreciated. [link] [comments] |
| Posted: 19 Mar 2021 05:06 PM PDT Has anyone ever used an escalation clause on over appraisal guarantee? Just used one in a contract lol, aside from escalation on offer also had escalation on appraisal, ex. 20k starting and go up 2k increments in the over appraisal guarantee up to 30k if a person guarantees more [link] [comments] |
| Posted: 19 Mar 2021 03:12 PM PDT |
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