Realtors: Thinking of getting into real estate sales right now? This is probably one of the worst time to start this career in history of the US. |
- Thinking of getting into real estate sales right now? This is probably one of the worst time to start this career in history of the US.
- website
- Form letters as "cold calls"
- is this normal?
- Anyone generating warm leads sub $40?
- Another "fear of automation" post. Thoughts?
- Question for experienced agents: what do you wish you had known about your brokerage before joining?
- Escalation and Counter offers
- how can I create a simple Pre-listing packet?
- How to get a listing
- Best Way to find a commercial broker?
- California real estate test timeline
| Posted: 08 May 2021 05:38 AM PDT (tldr at the bottom) Of course that is not the exception. Someone able to jump into this business with the plan and ability to get listings would do great right now. The problem is finding and securing listings is one of the most difficult things to do in real estate (especially as a beginner) and there aren't many people listing, a record low per capita since US records began in 60s according to Lawrence Yun, NAR's chief economist. With inventory so low, even seasoned agents like myself are having difficulty making sales or getting listings. You are starting a business, make sure you do your market research just like any other business. One thing to look at perhaps is the listing "months of inventory" in your market. A normal healthy market is 4 or 5 months, national average is less than 2, my market is closer to 1. Don't assume because it's a seller's market that now's the time to jump in. The majority of new agents (depending on your plan and how you set yourself up) will typically work with mostly buyers starting out because finding buyers is one of the easiest things to do in real estate. With majority of buyers in my market giving up after maybe an average of 10 offers made, this is a lose-lose situation to be in. All that time and gas, even if they do get a contract, is a difficult burden. If you plan to go forward, take this advice: "make a business plan*. Imagine for a second that you wanted to launch a new product line. Would you just manufacture or purchase the product and hope it sells? No, you would look into the market and build a business plan on customer acquisition, costs, pricing, overhead, etc. Why then should it be any different than starting in real estate. Do you know how you'll get your first customers? What about the first year's? Are you somewhat confident those customers and your skills capable enough that it will lead to enough closings? If not, just jumping into this business right now can be a risky and costly proposition. However, I was licensed in 2007 and by 2009 almost half of our local Realtor chapter members had quit. I also picked one of the worst times in US history to become an agent. Not very many people were buying and sellers couldn't payoff their mortgages. Nationally we had 9 months supply of inventory. Luckily I didn't have a family to support. I scraped by doing odd jobs and working with almost any buyer willing to give me their time. Foreclosures and short sales were rampant. But when sales started ramping up in 2013, I had an established business and had a great referral base. It just took the market 6 years to start to turn around. All those buyers are making bank now! Now I'm well-known in the community and have a decent sales record. Business just comes to me, I really don't have to go looking for it. Just because it's a terrible time to get licensed to start making money right away, it's probably one of the best times to get licensed to establish a great business for the future. Ok, so fighting really hard for very few sales is tough and you won't make much, if anything, for a while. If you can at least scrape by right now, when the inventory does come to the market, you'll be ready for the market shift (whenever that will be) and that's when times are good. I personally foresee a fantastic real estate market for both sides assuming the fundamentals of the economy are strong after these current conditions. That's one of the cons of this business, you're going to be a slave to the market and it's ups and downs. If you can get through this current market, you'll be happy you did. TL;DR: New agents usually work with buyers, which is difficult, if not impossible to find homes for all buyers. It's not a good time to start to make money unless you have a great plan. Stick with it though if you can and this might be the best time to get started for a long successful career. [link] [comments] |
| Posted: 08 May 2021 07:21 AM PDT which idx website builders are good and affordable? i've seen some super expensive ones. i'm a new agent and can't afford those. i'm currently using my coldwell banker one because it's free, but it's not very impressive. [link] [comments] |
| Posted: 08 May 2021 11:52 AM PDT In my area cold calling is illegal during the pandemic but I have a couple of clients with very specific criteria and was able to identify a couple of off-market houses since inventory is so low. Do any of you have a specific letter format that you have found successful to inquire if an owner would be interested in selling? I have a couple from other agents in my office but I always like to look at a few options and make it "my own" by combining stuff I like and putting my own style on it. TIA! [link] [comments] |
| Posted: 08 May 2021 09:46 AM PDT Im a first time homeowner, never sold my house as Ive only been here for less than 5 years. anyway, I got a letter in the mail today with no return address on it. so I opened it and it was a short letter on a local realtors letterhead that just asked if I wanted to sell my home to their client. Is that normal? Or is that just because I don't have it on the market? it seemed real sketchy to my fiancée and I [link] [comments] |
| Anyone generating warm leads sub $40? Posted: 08 May 2021 05:42 AM PDT I'm not talking about cold calling. I'm talking about online lead gen. Are any of you generating warm leads at a low cost like in the $500-$1000 range per conversion. If so, do you mind sharing what you are doing? [link] [comments] |
| Another "fear of automation" post. Thoughts? Posted: 08 May 2021 08:25 AM PDT |
| Question for experienced agents: what do you wish you had known about your brokerage before joining? Posted: 07 May 2021 04:57 PM PDT I ask because when I started, I only interviewed 2 brokerages and I didn't even know what to ask, what to look for, what's a red flag, etc. Now that I've been at my brokerage for about 8 months, I'm finding that it's a poor fit and I'm exploring other options. I have a much better idea of what I want out of a brokerage now, but I'd like your input on the things you wish you had known, good questions to ask when interviewing, etc. I think this will be a very helpful thread to all the newer agents out there like moi. Thx! [link] [comments] |
| Posted: 07 May 2021 05:53 PM PDT Stumbled upon an interesting situation. Buyer wins a house based on their escalation clause. Seller confirms and promises via text to hand over the offer that pushed them to amount. Couple days later seller counter offers with price they said it escalated too along with a few other items. Few days later contract is signed and still no offer that pushed to selling price only promises to send. I've never seen this. Does buyer have any options in your opinion? [link] [comments] |
| how can I create a simple Pre-listing packet? Posted: 07 May 2021 10:34 PM PDT I want to prepare myself to become a great listing agent. Where do I begin? [link] [comments] |
| Posted: 07 May 2021 03:50 PM PDT I've re-started my real estate career after taking a break last year. I've mostly worked with buyers as I'm in my 20s and my sphere of influence is not sellers. The last few months have been really tough with my buyers. I really really want a listing. I've been doing monthly mailers to expired listings. Nothing from that (which I expected). I just sent a postcard with a unique code for a valuation report. 0 hits. That one shocked me. I had done it before in a specific neighborhood with 3 hits though I didn't follow up like I should have. My mom is local and knows tons of people. But I'm not sure how to harness that besides scouring her email book for my database or having her share stuff on FB. I'm working on a new website with landing pages for home valuations and plan to do a big FB campaign for that. I book floor shifts for my office each week in case someone calls in- no one does. I'm in CA so no open houses until next month which has previously been my biggest money maker. Should I door knock and cold call the expireds that have ignored me? Change my farm to a neighborhood rather than expireds? Add that new neighborhood? I feel like I'm spinning my wheels and out of ideas on how to actually get a listing. On top of farming and building a new website, I've been really active on my Instagram but like I've said, mostly buyers or future buyers. My Facebook page is pretty much dead I need to learn how to revive that I guess. Thanks for any tips! [link] [comments] |
| Best Way to find a commercial broker? Posted: 07 May 2021 06:34 PM PDT Are there any specific avenues I can take as a potential buyer / lessee to find a commercial real estate broker that specializes in a certain area? Is there a website I can reach out to for agents? I'm having a hard time finding certain commercial agents that specialize in a certain geographic region. [link] [comments] |
| California real estate test timeline Posted: 07 May 2021 12:28 PM PDT Question, since I can't find this answer anywhere 😬, after the department of real estate has charged my card $305 for the real estate license exam combo, how tf am I gonna know when I can set my test date appointment? Will I be notified via email ? Thanks (California by the way) [link] [comments] |
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