Realtors: Found my DREAM home. Decisive on two realtors. Need help! |
- Found my DREAM home. Decisive on two realtors. Need help!
- Why god, why?
- Is my wife joining a cult?
- I did an interview with one of the “stop paying a 6% commission” companies...
- Asked for repairs and seller's agent immediately stopped responding
- Any books to recommend related for inspiring future real estate agent?
- Contingency for HOA Architectural Board
- 6 months to close first deal, is this normal?
- Do realtors get their commission from the sale or final price?
- Switching brokers while transaction is pending
- Starting up!
- Using a First Right of Refusal on Coming Soon properties
- Websites
- Stuck
- Fannie Mae Approved Condo?
- Designations that don't require yearly payment ?
- Redfin Lead Agents - Non-Compete Agreements?
- Boutique broker offices
- What do I do? How to navigate a bad deck?
- EXP
Found my DREAM home. Decisive on two realtors. Need help! Posted: 30 Apr 2021 08:57 AM PDT I found the house of my dreams! I qualified for that house specifically with letter as proof from the lender. So I'm ready to make offer and I'm good to do so! So one of the realtors is suggested from my lender and it's 1% of the buyer. But the other realtor is the showing agent for the house. The listing agent gave me their information because they are showing the house to me. Now the showing agent WANTS me to work with them and is 2.4% of what MLS says of the buyer. So here's my question. Should I work with the 1% realtor because he's cheaper or should I work with the showing agent (@2.4%) who's in touch heavily with the listing agent. In my opinion, I wanted to work with the 1% realtor however I think that it may benefit me to get the showing agent because she can convince the listing agent to help the seller accept the offer. What should I do? [link] [comments] |
Posted: 30 Apr 2021 07:44 AM PDT |
Posted: 29 Apr 2021 03:24 PM PDT so my wife just passed her tests and has been looking for brokers/ agents. Her interviews have all been kinda sketchy. some sound like MLM scams while others are super religious. even telling her that there are bible groups and jesus praising and that if she is uncomfortable with that, then she may not be a good fit. what is going on in this industry is this normal? [link] [comments] |
I did an interview with one of the “stop paying a 6% commission” companies... Posted: 29 Apr 2021 06:38 PM PDT I received an email through my brokerage email account from a rep at one of these companies, figured what the h_ll and then did the phone call. They are looking for buyer-side agents and promising warm leads. It seems like it all breaks down like this: Listing agents get a flat fee, I believe around $1,500 per sale. When a customer lists their home they receive a giant yard sign, a professional photographer, and access to an MLS platform to where they write their own listing descriptions. The company charges a flat fee to list, here in Denver I believe it is $3,000. The customer stages their own home and takes on whatever else needs to be done. The company promotes the listing. Seems like a just over a FSBO situation? Buyers side is still commission based, the same commission you would get working for any brokerage on average. But they want you to hang your license with them. There is a team lead and the leads that come in are leads that are apparently pre approved and since the customers came through the company's automated system they are considered warm and interested in buying. The company also has a lending service. I do not have a bias either way and I'm going to stay where I am at, but it did have me thinking for a bit... Here's where I am at
...major cities used to be full of yellow cabs... now all I see is Lyft and Uber... are we in this type of situation in the future? Any thoughts? [link] [comments] |
Asked for repairs and seller's agent immediately stopped responding Posted: 30 Apr 2021 06:45 AM PDT |
Any books to recommend related for inspiring future real estate agent? Posted: 29 Apr 2021 08:15 PM PDT Hello , I'm from the United Kingdom and I'm interested with becoming an estate agent in the near future but what books will you recommend people to read before becoming one ? . [link] [comments] |
Contingency for HOA Architectural Board Posted: 29 Apr 2021 06:52 PM PDT I'm looking to buy a home in one of the hottest real-estate markets in the country. The vast majority of neighborhoods have HOAs and covenants. One of my requirements for the house we eventually move to is a 4+ car garage. This eliminates well over 90% of listings, so I've also been looking at larger lots and properties that could accommodate either a second detached garage or an extension to the current garage (also incredibly rare). Inevitably, such a property would be covenant controlled and require construction approval by an architectural review board. My interest in a property that wouldn't support that much garage space is exactly 0. Is there any way to make an offer contingent on getting approval for the garage expansion? I'm not sure how that would even work, but I don't want to risk buying a place that I ultimately can't update to suit my needs. [link] [comments] |
6 months to close first deal, is this normal? Posted: 29 Apr 2021 08:59 PM PDT Hey there! Got my license & started working in October. Got my first buyer UC in November, but had to terminate because of inspection items. Kept putting in offers thereafter, but didn't get anything to close until 2 weeks ago. Is it normal for it to take so long? [link] [comments] |
Do realtors get their commission from the sale or final price? Posted: 29 Apr 2021 02:53 PM PDT So I'm selling my home in CA, let's say for $700k. The buyer counter offers for us to do termites (which cost $5k). We counter offer back saying $695k as-is; but our realtor negotiated back $700k with $5k credit from the seller to the buyer. In the end, the buyer will only pay $695k. But I'm wondering why our realtor didn't put $695k and instead put it as credit. Would the realtor get their commission based off of $700k sale price or $695k final price? Which one would benefit the realtor more (and be a disadvantage to the seller) ? We told our realtor to change it to $695k as-is but kept talking back saying "there's no difference, it's about the same". I feel like I have a selfish real estate agent trying to squeeze every penny. If anyone can shed some light, that'd be appreciated. UPDATE: I don't know how to close this thread, but my question's been answered. Thank you all for the response. To shed further light... I'm trying to give my agent the benefit of the doubt for a measley $150. But our agent didn't do as we instructed and lied to us. The exchange is through email and my daughter is doing the coordination and sent an email saying $695k as-is. Before I had a chance to read the email, my agent calls me and tells me that it was my daughter's instructions to put it as $5k credit. So when I spoke to my daughter and called our agent, the agent was very adamant about keeping it as $700k. We had a 10-15min phone discussion and rather than explaining the situation, what transpired, etc., they kept reiterating the same thing "the cost difference it's about the same". We had used this agent before and I had my skepticism then, so the current one is a snowball from prior - which I think is valid. And here I am on reddit getting the satisfactory explanation under a minute. There's a difference between explaining/educating the seller, and lying. [link] [comments] |
Switching brokers while transaction is pending Posted: 29 Apr 2021 07:26 PM PDT I am a Texas Realtor looking to switch brokers within the state. I don't have any active listings, but I am assisting a client with purchasing a property. Are there any legal issues with switching over if we are in the negotiation process? How long would it take to switch over? Thank you in advance! [link] [comments] |
Posted: 29 Apr 2021 05:02 PM PDT Hello everyone! I have found this group to be very helpful in the past so I am back again with more questions! 😊 I have one real estate class left in my course and then I can apply to take the test. I have heard that it can take up to five weeks to process your application. So in the meantime, (other than studying) I was wondering if anyone has any tips or things you suggest that I should be doing to hit the ground running when I pass my test and am licensed.  I'm going to begin looking into agencies to join. Is there anything that you wish you had started doing sooner when you first began your career in real estate? I listen to RE podcasts all the time and I am currently reading the millionaire real estate agent. I know that the first year can be slow plus I am only doing real estate part time right now. I am just someone who likes to be over prepared and does thorough research. I want to make sure that I am preparing myself adequately for my first year. Please don't hesitate to direct message me regarding my questions if you would like. thank you! [link] [comments] |
Using a First Right of Refusal on Coming Soon properties Posted: 29 Apr 2021 06:32 PM PDT Hi All, I need some big brains to poke some holes in this idea. My market allows listing agents to market properties as "Coming Soon" in the MLS. The property can't be toured until it's listed as "Active", but it can be purchased sight unseen. Currently, the coming soon status can last for up to a month, but in June our board is cutting it down to five days. I have buyers that will make sight unseen offers, but don't want to go much over asking on a property they haven't toured. Unfortunately, most of the time there are other buyers that will go well over asking sight unseen. What do you think about writing a First Right of Refusal offer, where the buyer has the opportunity to meet or beat any written offers made within the first 24 to 72 hours of the listing going active? Essentially, it's a non-binding escalation clause, but would give me and my clients the opportunity to see other offers before deciding to escalate. It would potentially get us under contract while in the coming soon status. Since the listing has to go live to trigger the FRoF, odds are the seller would get higher bids, and we wouldn't be locked into our original offer. It would give the seller a firm offer (probably at asking price), with little to no risk. Do you think a listing agent/seller would accept this kind of offer? It's really just a way to make an escalation clause without calling it such. I imagine most agents would see that and baulk at it. [link] [comments] |
Posted: 29 Apr 2021 04:06 PM PDT Hey everyone, what are the best websites that are all about real estate ? [link] [comments] |
Posted: 29 Apr 2021 09:45 PM PDT I've been to two different brokerages, Remax and Coldwell Banker where I was told I'd get mentorship but they keep telling me to wait… this is the best way I learn. It's been a year and I have no clients, no closings, and honestly feel like no knowledge. Is there any brokerages that actually offer mentorship so I can really learn the business. I feel like I've wasted so much time and money at this point and that it all is sunk costs. I welcome any other advice as well. Thank you. [link] [comments] |
Posted: 29 Apr 2021 08:24 PM PDT I'm working with a client who is looking to purchase a condo. Her lender said the property must be Fannie Mae approved. Has anyone dealt with this before? Will it make finding a place for her more difficult? Appreciate any advice. Thx. [link] [comments] |
Designations that don't require yearly payment ? Posted: 29 Apr 2021 08:19 PM PDT New Realtor, looking to get some designations and some acronyms to put next to my email handle. I know these are not needed, and will likely result in zero business, but I need something to do at night instead of watching TV so why not. Are there any of these realtor classes that don't require you to pay a yearly upkeep fee? My mentor told me about GRI and C2EX. Are there any others that have some valuable knowledge and also provide a designation? Thanks. [link] [comments] |
Redfin Lead Agents - Non-Compete Agreements? Posted: 29 Apr 2021 06:39 PM PDT Hi there! I am studying to become a Las Vegas real estate agent, and had plans to start my own online-tech brokerage in the future, similar to Redfin/Zillow. Being a registered employee of Redfin as a Lead Agent, was there a non-compete clause within your employment agreement, and if so, what were the time/distance limitations for starting your own brokerage? Starting a competing online brokerage after working for Redfin and learning their internal processes may be something they'd want to protect against, no? [link] [comments] |
Posted: 29 Apr 2021 02:51 PM PDT Anyone work in a boutique broker office instead of a commercial one? Thoughts, experiences? [link] [comments] |
What do I do? How to navigate a bad deck? Posted: 29 Apr 2021 02:46 PM PDT So I'm the homeowner and our house has a deck that is basically a tear down job.. it was that way when we bought it 2 years ago and always planned on getting it fixed just never got around to doing it.. well fast forward, we now want to move... outgrowing our house.. our realtor suggested to get the deck replaced because of its condition it may disqualify certain loans and get flagged.. so we started calling around different decking companies and their earliest time to come out to even do an estimate is 8 weeks.. everything is backlogged due to covid and wood shortage... so we scheduled a time for them to come out anyway...in the meantime I knew our neighbor was a general contractor and had built his own deck so we asked him if he could give us a quote for our deck.. he came out and quoted us a good amount and we wanted to go ahead with using him.. I started the paperwork process to get it permitted and got it part of the way only to find out that he wanted me to get the permit in my name, after reading about doing that I would be held liable for the deck and I didn't like that so I insisted he get a contractor permit since he was doing the work....apparently he doesn't have an active license and pays to use someone else's license and gets it notarized, not ever pulling a permit in his own name... is that sketchy or what?!? Or normal practice? The only issue now is that we want to list may 28th and there is no way to even get a deck guy to even come out do an estimate, file an official permit, and do the deck in time for that... what should we do?? [link] [comments] |
Posted: 29 Apr 2021 02:00 PM PDT Hello friends! I've recently passed my exam and am looking at the different agencies out there. Does anyone have experience with exp? It seems all the videos on YouTube are super positive but there's gotta be a catch right? I know there are a million ppl getting licensed but I'm in it for the long haul! Promise [link] [comments] |
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