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    Monday, May 3, 2021

    Realtors: Spouse is a new REA, needing some advice

    Realtors: Spouse is a new REA, needing some advice


    Spouse is a new REA, needing some advice

    Posted: 03 May 2021 05:35 AM PDT

    Husband just got licensed a couple months back and signed with a brokerage.

    And... he's not doing much. He wants my help with marketing and such, but I'm out of the house 50 hours a week for my job, and spend most of my nights after work doing stuff for our kids' sports, so I don't want to spend my downtime building his social media and write cards for him.

    He told me this morning that I talk to him like it's easy, and that he feels like it's the hardest thing he's ever done. (which I don't doubt how hard it is at all!) And I was like "I get it, why don't you set goals for this week? Like headshots. Announce yourself on social media- no one knows you're an agent. Contact some people at your brokerage and ask if you can shadow their next open house. " I just feel like I can hardly give advice because I don't know anything about real estate, but I work in sales and know that sitting around waiting for leads to be in may be *comfortable* but it doesn't get anything done.

    I would love to hear some advice on how I can encourage him to get out there. Or even if some spouses are on here- did you deal with the same thing?

    EDIT

    So after our talk this AM, I've been getting emails all day about his business plans, what he is going to get accomplished each day, etc... and I just got a text that he got headshots done! I think he needed that big push from me to be like "alright dude what are you doing, what's the plan"

    He even reached out to a friend who is a home inspector and they're gonna get together and shoot some informational videos about the process.

    I'm pretty excited now.

    submitted by /u/dapolkadots
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    Is there ageism in being a realtor?

    Posted: 03 May 2021 09:18 AM PDT

    My current job is pretty tough on the body and I can't do it long so I'm wondering if being a realtor in my mid 40s would be possible or of a client would think "you're this old and not experienced? No thank you!" Is this a legitimate concern or am I being paranoid?

    submitted by /u/SkepticDrinker
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    Michigan realtors, I've decided to get my license. Any recommendations on where to pursue the education through?

    Posted: 03 May 2021 05:20 AM PDT

    Honest opinion on hand written letters/ how many practice hours to get CMAs down to the T

    Posted: 03 May 2021 12:16 PM PDT

    Hey guys, i want to write personal hand written letters. My handwriting is ugly but i hear that writing letters are personal and shows you took time to do so. What do you guys think?

    Also i want nail CMAs as best as possible how many hours a day you guys put in to work this out.

    submitted by /u/EdrisisEd
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    In this crazy real estate market, would you replace a broken deck (too far gone to just fix it) or sell “as is” ?

    Posted: 03 May 2021 11:55 AM PDT

    Can a Seller not close on time and also submit a Demand to close later?

    Posted: 03 May 2021 07:58 AM PDT

    We're buyers in a contract with a California association of realtors boilerplate business purchase agreement. On the closing date 2 weeks ago the seller wasn't able to deliver possession. We have since then decided we don't want to purchase the business anymore. The seller sent us a 3 day "Demand to Close Escrow" DocuSign last night after we let them know we want our deposit back.

    Can a seller not close not time and submit a demand to close 2 weeks later? I assumed a demand to close is only if the other party wasn't able to close on time.

    submitted by /u/castell9000
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    Does anyone have their crystal ball handy? Feeling very depressed as potential FTH buyer

    Posted: 02 May 2021 09:37 PM PDT

    I'm a teacher, my husband is a firefighter. We have $25,000 cash to spare on a home in the DC area. We make too much to qualify for anything and too little to buy anything that we want. We've been through a LOT the past few years- and it all culminated with us losing a bid on a house we liked. we made an offer $17,000 over asking WHILE waiving home inspection and offering $5,000 on the shortfall, and we still lost!

    It made us pause and wonder if the universe saved us from ourselves and a potentially bad decision based on feelings of duress regarding our current living situation.

    We've decided to take a longer pause, rent for another year (somewhere else), and get us some breathing room.

    Do you guys think a year will make a difference? This market seems impossible for a FT buyer. Is there any hope?

    submitted by /u/westiebutt44
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    Sale Contingency When Home Is Under Contract

    Posted: 03 May 2021 11:20 AM PDT

    Hi y'all. Need some advice from realtors on buying a home. I need the proceeds from current home to purchase new one. A double mortgage is out of question. My current home is already under contract and all inspections are done. Just waiting to close. However, as a buyer, I feel like I still need to check off the sale contingency box on offers on new homes. Given I'm in a top real estate market, this frankly just kills our chances as soon as sellers see that contingency.

    Am I handling this correctly? Is it still sale contingent if I have a signed purchase and sale in hand? Guessing yes but just looking for opinions to make sure I'm viewing this correctly. Thanks for any feedback.

    submitted by /u/MrTrader99
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    Is print advertising worth the cost? Some types better than others?

    Posted: 03 May 2021 11:19 AM PDT

    My area has a small local newspaper with all the town sports, town meetings, etc. for about 7 towns surrounding me. These are all small towns outside of a small city. I see a lot of agents advertising in that, plus some other local publications. One is almost all ads, with a couple of features of local businesses.

    Then there are the mailings I get regularly. Either letters in envelopes or extra large postcard type. The only ones who do this are the big to really big agencies with a lot of money to burn. I sort of think they still wouldn't do it if it didn't work, but maybe it's just to keep their name in mind vs getting leads in a short amount of time.

    I would love to get some feedback from those who have actually done this. Some details of your advertisement(s) and the response you got. Like a business card size ad or full page or postcard mailing, etc. And decent leads and/or clients you got within a short time - say maybe a month.

    submitted by /u/indi50
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    Experience with Ribbon cash offers?

    Posted: 03 May 2021 11:06 AM PDT

    Hey y'all!

    Anyone have experience using the Ribbon platform to make "cash" offers for your financed buyer clients? I've had a couple of colleagues mention it to me, but I'm still skeptical.

    (For those who don't know, Ribbon will make a cash offer for 1% of purchase price fee, buy the house for cash, and then immediately sell it back to you/your lender. If it fails to appraise at purchase price, they'll cover the difference so you can 'safely' waive appraisal contingencies)

    submitted by /u/PsyanideInk
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    Business bank account

    Posted: 03 May 2021 09:45 AM PDT

    Looking for some insight on opening a business only bank account for my realtor LLC.

    For realtors that have a LLC what banking institution are you using for business?

    submitted by /u/frank13131313
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    Realtor designations

    Posted: 03 May 2021 08:08 AM PDT

    does anyone think that having these designations does anyone any good?

    https://www.nar.realtor/education/designations-and-certifications

    submitted by /u/Awayztogo
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    USDA Loan Appraisal Question

    Posted: 03 May 2021 07:52 AM PDT

    We are interested in a home but stuck with a usda loan. I understand that the appraisal can go bad over something a simple as a bit of chipped paint. If something like this comes up, what can I do in negotiations to make this work?

    submitted by /u/ProposalProper8870
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    Communicating with clients

    Posted: 03 May 2021 05:38 AM PDT

    Hey realtors,

    I'm not gonna lie, I'm neither a realtor nor someone who knows about it much but at least I'm trying.

    So, I'm working on a project that's related to finding if realtors have problems communicating with their clients:

    • Do you give them your personal cell phone? If yes, how do you make sure they call you at times you could take the call?
    • If you don't use your cell number, what do you use for communication? If you could tell me more about your setup, that'd be awesome.
    • Whenever there's an update on a property or contract, do you email them or straight call them (or text them)? Which way is preferred for you and which one is the most responsive?
    • Overall, how do you manage client communication + making sure everyone is on the same page?

    Thanks in advance and have a wonderful week!

    (Much love from Bulgaria)

    submitted by /u/KristianWEB
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    Can I purchase a duplex/quadplex with a temporary employment

    Posted: 02 May 2021 05:35 PM PDT

    I would like to purchase a duplex/quadplex to rent out for "passive" (I know its not exactly passive since you have to maintain the property) income. However, I have a record from over 10 years ago and have some difficulty finding permanent employment. Despite that I have been employed as a temp worker the past 2 years at a fortune 500 company. However, I do not expect it to turn into a permanent contract due to the background. I really want to buy a duplex/quadplex as I believe its one way to financial freedom (for me it may be my only route lol). I live super frugally and work an insane amount of overtime. I am fortunate enough to not have many bills and I have save a majority of what I earn. This current contract has an end date of September which at that point may or may not be renewed. I have about 65k I could use as a down payment on a home. However, if possible I would prefer to use an FHA loan. However, I am concerned about being approved for a loan with a temporary employment. I have been at my current work place for about 2 years and before that have been working with the temp agency steadily for another 2 years. Last year I made 50k after paying the temp agency. Is it possible for me to be approved for an FHA loan considering I technically do not have a "permanent employment?" Also, if approved could I use an FHA loan to buy a home that is sold as a short sale?

    submitted by /u/potlop
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    Any success with doorknocking paired with a neighborhood report handout? Any scripts or advice?

    Posted: 02 May 2021 04:55 PM PDT

    I know the subject of doorknocking has been beaten to absolute death just about everywhere you look. But these strange times I believe there's more opportunity than usual.

    My current plan is to go around established neighborhoods with an average of 5 years or so since their last transaction. I plan on keeping it super quick and clean.

    Knock on the door, introduce myself, give a neighborhood report with my information and a quick word on the market, ask for a call or email if they'd like to know more. Leave a report with a hanger/note if no answer.

    I hate answering the door for family, let alone a stranger trying to get money out of me. And I feel most people are the same. By keeping it quick, clean, and informative I hope to get less doors slammed in my face and to build curiosity in neighborhoods. And god willing a listing appointment or two.

    Anyone out there try a similar approach? Any tweaks to the plan I should consider?

    submitted by /u/LordChunggis
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    Question about how realistic my goals are

    Posted: 02 May 2021 02:14 PM PDT

    I am 14 and my dream job is to become a good realtor (probably most boring dream job but I have done a lot of research into it and I'm kinda obsessed with finance and RE)

    In sweden the average salary of a realtor is about 63800 Usd per year. And let's say I'm in the top 20% (20/80 rule)

    How realistic would it be for me to make 142k a year at 35? (That's 100k krona per month and that's kinda what I'm aiming for so that I can save and invest 100k a year).

    submitted by /u/warrenfowler
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    Picking up clients from airport?

    Posted: 02 May 2021 07:38 PM PDT

    Clients bought a home And are moving in from out of state. They are coming into the area for the first time after the sale closes to move in. Should I get them from the airport and bring them to their new home?? Or tell them to get an Uber and I'll meet them at the new home

    submitted by /u/throwawaypancake129
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    Property management company offering free lease break to renters that buy with their agents - sketchy?

    Posted: 02 May 2021 05:57 PM PDT

    We recently purchased our house through a realtor that works for the property management company that we rent from. They started a program last year where you could break your lease without penalties or fees as long as your used their agents...of course using part of the commission to cover the turnover. We had already been house hunting with a realtor we didn't like, so we made the switch and everything seemed to work out fine.

    When I was talking to a friend whose partner is a real estate agent, and they said that this situation was highly unethical. I'm not sure I'm seeing the unethical part of it considering they're just making the standard commission and putting some toward cleaning/covering turnover time.

    I could see them acting unethical 1) to the realtor by not paying enough commission and 2) to the rental property owners by turning over their homes frequently - but from a buyer's perspective not seeing much of an issue.

    What does everyone here think? Our purchase is complete now, so I'm more interested out of curiosity than anything!

    submitted by /u/dq1c3cr3am
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    Commission for my own lease

    Posted: 02 May 2021 09:31 PM PDT

    I know this is a silly question, but I cannot find any information on it, but is there any commission-ing going on when I rent a property?
    Probably not, but could I barter part of this lack of commission towards the deposit?

    Like I said probably a silly question, but I appreciate any help :)

    submitted by /u/canaan2000
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    Home with Unpermitted Work -- Would you recommend your clients to purchase?

    Posted: 02 May 2021 07:51 PM PDT

    We put an offer on what appeared to be a great house. Listing agent comes back and says that the seller forgot to add on the disclosure that she added a mudroom (taking space from the garage) without a permit. Seller is giving everyone who submitted a chance to amend their offer price/terms or pull if they want to. I managed to look up permits for this residence and it looks like the seller may have also forgotten to get a permit for foundation work and possibly a few other things like remodeled bathrooms and kitchens. (They did remember to do it to replace a water heater, that's about it).

    Would you knock off 5k? 10k? Would you walk away from it?

    We are first time homebuyers (or trying to be in this market), and have no idea whether this is a big deal or not. We are in TX if this matters. My agent definitely seemed annoyed with this new discovery, but couldn't really give me more info tonight. She said we'd have to call the city and find out what the penalty would be.

    Thank you in advance!

    submitted by /u/samjeong12
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