Realtors: Yet Another Low Appraisal Post |
- Yet Another Low Appraisal Post
- After months of trying got my first ratified contract in 2021!
- How to get more listings?
- Tempus Fugit
- The monster motivated typically are the least qualified.
- Where to get list of mailing addresses for certain neighborhoods?
- Can you really be successful in real estate without a huge SOI?
- How do you study for a specific course's test?
- Lease Abbreviations: What does FMR, FYR, LS, and OT stand for?
- Appraisal came very low
- How do you handle it when the other agent you’re working with in a transaction has poor communication?
- As a listing agent, do you typically try to be present for the home inspection, or do you just let the buyer’s agent handle it?
- Where are you getting expired listings phone numbers? Say from 2-3 years ago
- Appraisal Value Question
- Good gifts to realtor mentor?
- Commission question
- Jammed Supra lockbox
- In the process of buying a property can I have more then one realtor working on the project?
- Lead contact
| Yet Another Low Appraisal Post Posted: 22 Apr 2021 07:08 AM PDT OK guys, it finally happened. In my 3 years as an agent I have finally had a home not meet appraisal. Contract price of 275k (5k over our list price) and the home appraised for 251k.OOF. So the buyer's agent says her clients can't make up any of the difference with cash (woop) and my seller doesn't want to budge on at least getting 270k (list price) so we will likely be terminating I just wanted to know how best to handle terminating this and how to handle agents questions about being back on market due to low appraisal. [link] [comments] |
| After months of trying got my first ratified contract in 2021! Posted: 22 Apr 2021 02:45 AM PDT I am riding a huge high right now! I got an offer accepted for one of my buyers! The craziest part: 100k under list price. 2020 was a great year for me, but 2021 has been a struggle ao far. Market is crazy and I keep getting outbid with my other buyers. It takes many offers on avg to get one. Well these buyers find something wrong with every house and we dont even write offers. This was the first one! As mentioned, these buyers are increadably picky and have have shot down dozens of houses for 3 months of looking. Everything they pick out. Not good enough. Everything i pick out. Not good enough. Nothing is good enough once we see it. In attempt to bring them back to reality, I show them a house just listed 200k over their budget which has everything they want. Perfect house. They are excited, until they hear asking price. I suggest we write low ball at their budget just so we write something as we havent had one offer on months of looking. They think 200k under is too low, talk to lender to get their top budget stretched, and we meet in middle and put in lowball bully offer 100k under list with very sweet cover letter. Sellers like their story and accepted before this gorgeous house made it to the weekend. Listing agent was related to owner. Not sure if they are experienced, but house would have sold for list or more if it had a weekend of showings in my opinion. Buyers now think I am some hotshot negotiator magician. I was calm presenting offer only because I knew we wouldnt get it. Haha. I am definitely not great negotiator. I hate that part. What? How? So high right now. Thanks for listening. Had to rant. [link] [comments] |
| Posted: 22 Apr 2021 12:25 PM PDT As the title states. got my realtor license around November 2020. I quickly managed to snag 4 listings through cold calling. And to this day have 7 completed transactions in 5 months with around 2.8M across those 7. Thing is now it has slowed down and I have not been able to get another listing since. The current market is rather tough. Houses for sale in my area are selling very quickly so often FBO do not see the need for a realtor. And with covid no open houses are allowed for the moment. So what I'm looking for is ways to get leads and good calling scripts that fit my personality and values. I'm an honest person that is not looking to screw anyone over or lock them in a contract while they are unhappy. What did you guys do to start off? thank you. [link] [comments] |
| Posted: 21 Apr 2021 11:03 PM PDT Celebrating my 29th year in Real Estate...the good, the bad, the ugly. My, my has it changed since the early 90's. The first night in my very first home Johnny Carson's last show was aired. I was 21 years old. My how time flies. I could write a book. I'm 50 now...and I suppose I have another 15 to go. What's going to happen next? Your thoughts? [link] [comments] |
| The monster motivated typically are the least qualified. Posted: 22 Apr 2021 11:49 AM PDT "the most motivated" should be the title. Auto correct is annoying. Pretty common theme. Credit score, lack of saving, generally very poor. It sucks really. I pretty much had to tell yet another motivated buyer that we have to wait for her credit to slowly repair itself before she can buy. Even rentals are rejecting her. Credit is in the 570s. I thought about using NACA, but making her pay high interest rates is not something I'd want for her. [link] [comments] |
| Where to get list of mailing addresses for certain neighborhoods? Posted: 22 Apr 2021 08:31 AM PDT Hi Guys, Helping a real estate agent with a marketing plan. We plan on doing some direct mail and I was wondering where everyone finds lists of homeowners' names and addresses for a specific neighborhood. Does anyone have any recommendations on where to source that information? Thank you! [link] [comments] |
| Can you really be successful in real estate without a huge SOI? Posted: 22 Apr 2021 10:27 AM PDT So I moved to my city two years ago & don't know many people, nor does my family live here. They live out of state. I did property management for four years so I'm kinda familiar with the industry. I'm almost done with my classes and feel confident with everything except the fact that I don't know many people here. Any advice? [link] [comments] |
| How do you study for a specific course's test? Posted: 22 Apr 2021 12:14 PM PDT There is so much information in the course, I just want to make sure I pass so that I can move onto my license exam. [link] [comments] |
| Lease Abbreviations: What does FMR, FYR, LS, and OT stand for? Posted: 22 Apr 2021 11:45 AM PDT |
| Posted: 22 Apr 2021 06:59 AM PDT Recently, We got our offer got accepted on a 2018 home at 15k above listing. During our option pending period, we were able to get both inspection and appraisal done. Appraisal came out 41k lower than our accepted offer. We are in negotiating phase/option pending phase. We made a new offer of 15K above appraisal value and waived all repairs. We just asked them to get the house and backyard professionally cleaned as well as clean HVAC system. but sellers want 26k more from appraisal value with no repairs. This house is in suburbs of Houston and they have a lot of construction going on in that area. We saw couple of homes brand new home (finishing end of this month) on HAR across the street. We aren't in a rush to buy a home. We aren't emotionally attached to the home either. Should we try to stick with our guts with 15k above appraisal and negotiate or just spend 28k more and get a new home? We are conventional buyers with 20% down. We are able to afford the new home. [link] [comments] |
| Posted: 22 Apr 2021 09:18 AM PDT I'm very much currently in this situation and I'm so frustrated. Any advice? [link] [comments] |
| Posted: 22 Apr 2021 09:14 AM PDT I've heard arguments for attending and arguments against it. Thoughts? [link] [comments] |
| Where are you getting expired listings phone numbers? Say from 2-3 years ago Posted: 22 Apr 2021 08:45 AM PDT |
| Posted: 21 Apr 2021 05:55 PM PDT Hey guys I have a question about my situation here: I'm trying to sell my place on the market right now because everything is going for just ridiculous values. I keep getting offers that are extremely high but subject to appraisal. Every single one is like that. I know that means the person would have to cover the difference if the appraisal amount comes lower than asking price, and these offers are stating that they will only pay that appraisal amount in their offer if it's lower than their absurd offers to begin with. I see these offers and look at them at absolutely useless without the appraisal number. They could offer me 100k over asking but that doesn't mean anything if the appraisal comes in lower. So my question is: Not many places have sold recently around me. My place I'm asking for a good amount over what I bought it for almost four years ago too, but fair for the market (I think). Do appraisal values move with the market? Or am I pretty much going to have to settle for close to what I originally bought it for? I know it's a loaded question and there are a lot of variables in place but I feel like the "subject to appraisal" is a loop hole for buyers right now with this market (rightfully so, I would try the same thing, but doesn't help me when I'm trying to sell). If that's the case and those are all the offers I'm getting, I may as well wait to sell anyway. Unless I get someone willing to void the appraisal value and cover the difference that the bank won't give them. Thoughts? [link] [comments] |
| Posted: 21 Apr 2021 01:59 PM PDT I want to give a gift to my mentor who's helped me change my whole life direction by believing in me and mentoring me while ignoring hundreds of others with the same request. I have no clue to this day why he made such a decision. But now that I'm getting business here and there I would like to give a gift as thanks. What gifts do you think a long time realtor would appreciate? [link] [comments] |
| Posted: 21 Apr 2021 02:46 PM PDT Hey guys I have a question (please let me know if I'm posting this where it doesn't belong) If I buy a custom lot in a new development where right now I'm only paying for the lot. They don't give a timeline for when I have to start to build the house. How does the realtor make commission on this? I'm assuming they make commission for the purchase of the lot. How about if I decide to start building in a year, will they also get commission for that or can I use another realtor, or at that point would there not be a purpose for a realtor? I'm sorry for my ignorance! Basically- I had found a realtor who I don't want to use anymore bc she was terrible. No communication, would disappear for weeks. I found a place myself, and asked her a couple questions. She never get back to me for 2 weeks. In the meantime I had my dad go look at the lot and what not. Finally she happened to get back to me the other day and copied and pasted info that I already found myself from the development's website. I almost cut her out and just wanted to use someone else. But my husband is a kind soul and said screw it, just let her have the commission for the purchase of the land. But I don't want to be stuck to her for when we start to build. To reiterate guys, she didn't help at all! I believe realtors work hard and deserve the commission they get, so I don't say it lightly when I say, she didn't do a thing! [link] [comments] |
| Posted: 21 Apr 2021 01:56 PM PDT Update: I just beat on the bottom of it and then pulled it back with a pliers repeatedly until it came loose. Thanks everyone those were all good suggestions! Turns out sometimes just beating the crap out of something actually works! This may be a longshot but does anyone know how to unjam a supra? I think the key must be in there wrong because it's pushed all the way in and totally stuck And I've got a showing in two hours [link] [comments] |
| In the process of buying a property can I have more then one realtor working on the project? Posted: 21 Apr 2021 04:05 PM PDT In the process of buying a property. My realtor I feel is dropping the ball half the time. Is it legal to work with more then one? [link] [comments] |
| Posted: 21 Apr 2021 03:49 PM PDT When you get an online lead and they sign up on your website, how soon do you contact them via phone? I know I don't like when I put my number on something and they call the second I submit the form. I may be in the minority? What is your approach? [link] [comments] |
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