Realtors: What are some of the most overused phrases from public descriptions? |
- What are some of the most overused phrases from public descriptions?
- Am I doing too much or not enough? (buyer's agent)
- Getting mortgage license (NMLS) as a Realtor
- Fair Percentage for Only Brokering a House Sale?
- Land Trust
- Put a stop payment on Zillow advertising, but still being marketed on their site?
- Buyer backed out within days of closing. As the Buyer’s Agent, any recourse to get compensation per the Buyers Agreement?
- Anyone looking for a good cold caller or admin?
- How to handle visitors at owner occupied Open House?
- Changing Broker with unpaid commissions
- Fees for showing home for another agent
- Real estate express final exam help pls?!?
- Real Estate Commissions Calculation and Tracking Examples
- Earnest money deposit
- NC Client Closing On New Construction In 5 Days But Multiple Items Remain To Be Completed
| What are some of the most overused phrases from public descriptions? Posted: I was thinking today, what are some of the most overused phrases that you run across in your public MLS descriptions? Here are a few of the ones that I could think of: -LOCATION, LOCATION, LOCATION! -HONEY STOP THE CAR! -MR AND MRS CLEAN LIVED HERE!! -TILE IN ALL THE RIGHT PLACES, -PRICED BELOW COMPS! [link] [comments] |
| Am I doing too much or not enough? (buyer's agent) Posted: Background: Got my license in November. This is my first buyer. I sent her an exclusive right to represent contract after 3 showings but she did not want to sign, said it made her uncomfortable but she hoped I knew that she wouldn't screw me over and go work with someone else or vice versa. I previously posted about this particular buyer. The funds for her purchase will come from the sale of her current home (which is being sold to the neighbor and they chose not to use a realtor for that transaction- I offered my help multiple times.) So this is already kind of tricky because I am trying to make sure our buying timeline matches up to the selling timeline but she doesn't even know what's going on with the sale half the time. So far, we've seen 5 places together (and I sent her to one open house on her own.) I send her listings based on her criteria as they come on the market. She sends me links from Zillow/Trulia at least 5 times a day (at all hours of the day too...2am, 4am, I am wondering if she sleeps LOL.). The main issue I am facing is that I don't think she knows what she wants. She doesn't even know what neighborhood she wants to live in. I don't mind taking her to see these properties, but the issue is that she says she wants to see almost every single one she sends me or I send her. (and if she's confused about neighborhood, isn't that something she should do a little research on her own? Like drive through the neighborhood to get a sense of it instead of waiting for me to schedule a showing to see if she likes the neighborhood?) I am wondering if there is a way I can help her narrow down her search a bit, or encourage her to at least narrow down to a particular neighborhood so I can schedule a few showings for one day to knock them all out (right now, the places she is looking at are between 20 mins from me up to an hour away and I am a part time agent so really the only time I have to take her is after I stop working at 5pm or on weekends.) She'll send me a listing and make a comment about something that she doesn't like (that cannot be changed) but then says she still wants to see it. (example: The HOA on one unit she sent is $300 a month OVER the max HOA she told me she is comfortable with.) And on top of this, she is very frantic. I understand she is stressed but she is emotionally all over the place too. She'll email me saying she feels defeated because she doesn't know what she wants. Then she'll tell me she's taking a break from looking for a bit but then the next morning I'll wake up to more listings that she wants to see. I'd like the input of the experienced agents on here. Your input and opinions are really valuable and have helped me so much on previous posts, I'm eager to hear your opinions on this one. The main question is, am I doing too much or not enough. Too much meaning, would you entertain someone and put so much energy into them when they are seemingly just window shopping (and technically just a customer not even a client.) Not enough meaning, I should be taking her to every single showing she wants (but at the rate she is requesting to see things, I would have to take her every single day to see everything.) [link] [comments] |
| Getting mortgage license (NMLS) as a Realtor Posted: Hey guys! I'm a newer Realtor and I was just wondering if any of you had also decided to get licensed as a loan originator. I'm thinking about doing this as a way to get more experience with the lending process and thus help my real estate business. Has anyone else done something like this or thought about doing something like this? I'm newer to the whole real estate field, so I'm just weighing out options here. [link] [comments] |
| Fair Percentage for Only Brokering a House Sale? Posted: Someone offered to buy my house, but I want to use a Realtor to broker the sale to make sure everything is done accordingly. What is a fair percentage to pay the Realtor for handling the sale? Thanks [link] [comments] |
| Posted: I have a client whose company will pay for his rent (he is expat). He asked me if he can use the money he will receive for the rent to pay for a mortgage (using a Land Trust to hold title): is it a doable? anyone has a similar experience? Of course I am looking for legal advices, just to understand if it is something we can explore the chance of doing. [link] [comments] |
| Put a stop payment on Zillow advertising, but still being marketed on their site? Posted: So I had to put a stop payment on Zillow, as they just kept charging my card. I was paying $1000/mth for 9% market share, and would just get totally unqualified leads. Lots of buyers just shopping around out of curiosity. Many would tell me that they had no intention of buying, but wanted to talk to me about why my market was blowing up, and hear my thoughts about the area... What a waste of time! I did successfully put a stop payment on Zillow, and have not been charged in like 2 months, but am still being marketed on their website. I actually never even signed their contract. They sent it to me through Docusign, and I didn't even have a chance to get to it before they had me up on their site. My question is: Will they be back billing me for something? Are they going to try to pursue some charges against me for this service? I still get calls from leads (same quality of unqualified calls), but have not been paying them. I also have no way of stopping this service, and have not signed that contract like I said. Has anyone run into this before? [link] [comments] |
| Posted: Has anyone ever had an experience where their client, the buyer, violated the terms of the Purchase Sale Agreement and they were still able to get their owed commission? [link] [comments] |
| Anyone looking for a good cold caller or admin? Posted: Anyone looking for a good cold caller and/or admin assistant? Let me know! [link] [comments] |
| How to handle visitors at owner occupied Open House? Posted: I said yes to holding an Open House for a fellow agent this weekend. I'm a newer agent and have done a couple of open houses, but they were vacant homes. This one is owner occupied (the owners won't be there, only me). I'm a little nervous about it. May I ask what some of the proper etiquette is when potential buyers come in for these types of situations? Do I follow them around the whole time? Let only one group in at a time? What if multiple groups show up at once? (Edit: I am nervous about it due to the sellers still living there and their stuff still being in the house. I'm not sure how to go about handling visitors when they still occupy the home. Thanks for the help.) [link] [comments] |
| Changing Broker with unpaid commissions Posted: I am going to switch broker. My broker still owes me money for unpaid commissions. I am in Southern California: what kind of action can I take if I am not able to get my commissions? Any advice would be great! [link] [comments] |
| Fees for showing home for another agent Posted: Hey All, I am new to the industry and I have a few other agents that want me to help them show their listings. For those that do this already, do you charge by the hour or by the door? If anyone has any advice on how I should go about this, I would greatly appreciate it. Thank you in advance, [link] [comments] |
| Real estate express final exam help pls?!? Posted: I heard that the practice tests are super helpful. Does anyone know if the final exam is based off of the questions from them? I'm assuming that with all the proactive tests combined, they serve as the test bank and the final exam just consists of 75 questions straight from the practice exams. Has anyone take the final exam and know if this is true? Btw this is a proctored exam [link] [comments] |
| Real Estate Commissions Calculation and Tracking Examples Posted: I know that it can be quite a tiresome process, especially for Real Estate newbies, to calculate calculate and track real estate commissions split on a deal and to identify commissions payout order. I prepared four real-live commissions calculations scenarios + real estate commissions calculation examples. Real Estate Commission TypesThere are four main real estate roles: Analyst − an Account or Contact acting as an Analyst for the Deal. Co-Broker − an Account or Contact for a broker outside of your company that worked on the Deal and will receive a portion of the commission. Expense − expenses related to closing the Deal such as marketing expenses, referral fees, etc. Inside Broker − a User within your company that worked on the Deal and will receive a portion of the commission. Their commission payout order is the following:
If Inside Brokers have expenses, they will be subtracted from their total commission. How to Calculate Real Estate Commissions on a Deal How to Calculate Real Estate Commissions Split on a Deal#Step 1. Calculate Company Gross FeeThe Company Gross Fee calculation gets the "Gross Fee Amount" from the Deal as well as all the Co-Broker commission split records from this Deal. The calculation is: Company Gross Fee = Gross Fee $ * (1 – Sum (Co-Broker Split %)) The result from this calculation will be written back to the Company Gross Fee field on the Deal and will be shown as read-only. "Company Gross Fee" formula fields on all commission records tied to this Deal. #Step 2. Calculate Company Net"Company Net" calculation gets the "Gross Fee Amount" and the "Company Gross Fee" and the following groups of commission records for this Deal: Deal Expenses − the "Amount" total from all "Expense" commission records for this Deal. Analysts − the "Amount Percent" total from all Analyst commission records for this Deal. The total percentage for the Analysts is taken from the "Company Gross Fee" to add to the Deal Expenses total. Inside Broker's Net Commission – to track this commission you need to consider the following calculations: Inside Broker Split %, House %, Direct Expenses, and Other Expenses.
Inside Broker's Commission Calculation How to calculate Inside Broker's Net commission: Inside Broker's Net commission = Fee Percent – House – Direct Expenses – Other Expenses The Company Net calculation is: Company Net = Company Gross Fee – Deal Expenses – (Analysts and Inside Brokers Net Commissions) The "Company Net" field is read-only and calculates upon save when any of the values above are changed. #Step 3. Calculate Total Inside CommissionThe Total Inside Commission is calculated as: Total Inside Commission = Company Gross Fee - (Deal Expenses and Analyst commissions). This result is also shown as "Total Inside Commission" formula fields on all commission records tied to this Deal. #Step 4. Calculate "Amount" and "Net Commission" by Commission TypeThe "Amount" and "Net Commission" are calculated based on the commission type: Co-Broker Amount = Gross Fee Amount * Commission Fee Percent Net Commission = Gross Fee Amount * Commission Fee Percent Inside Broker Fee Amount = Total Inside Commission * Fee Percent Net Commission = Fee Amount – Fee Amount * House – Direct Expenses – Other Expenses Analyst Amount = Company Gross Fee * Fee Percent Net Commission = Company Gross Fee * Fee Percent Expense Amount = Company Gross Fee * Fee Percent The Commission Calculations are rigid and can't be changed through configuration. [link] [comments] |
| Posted: I'm a new agent in NJ and my mentor told me there's no need to put any earnest money/good faith deposit down.. then side tracked and said we should put something down for my first offer My client is putting 20% down and their lawyer said the same thing about not putting earnest money down. Who should I believe?? What does everyone else typically do? [link] [comments] |
| NC Client Closing On New Construction In 5 Days But Multiple Items Remain To Be Completed Posted: So here's the skinny...my client is set to close on their new build Tuesday, homeowner walk is scheduled for tomorrow afternoon...but the gas line isn't hooked up yet (meter isn't even installed)...there are two dead trees in the back yard the builder said they'd remove, and there's standing water between her and the neighbor that the builder agreed they'd "resolve" but haven't yet. My advice to my client was for us to bluntly tell their rep "I am ready to close but you are not" and refuse to close until those three items have been resolved...she wants to close but with an addendum or attorney drafted statement that the builder must complete the remaining work within "x" amount of time after closing. I don't do a lot of new construction so I'm not as familiar with how much we can strong arm them, but I am NOT holding my breath on them giving a damn about fixing anything after we close, and I'm really not excited about having additional addenda drafted up for a new construction closing. Thoughts? What would y'all recommend to your clients? I appreciate any opinions or thoughts. [link] [comments] |
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