Lender · Fort Collins, CO · Member since 2015 · 304 posts · 148 votes
Agents have been struggling lately. Many have left the business or are on their way out. Lack of inventory seems to be the main culprit.
The ones that are still raking in the dough are the deal finders. If you are good at finding deals, especially off-market opportunities, this will set you apart from 99% of other agents.
What are your thoughts? Are you making less this year? What strategies are working for you in this market?
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
3y
Tons of equity across the US. Time to convince old clients to be investors.
Perfect storm brewing that will reward investors and punish non-owners. It may last forever, but at least for next 5 years I expect. New building will continue to be tough. Buying for 1st time buyers will be tough. Rent bumps and paying bigger % of income on rent will help create an environment where 1st time buyers wont be able to save for down payment and closing costs, forcing them to rent for even longer period of time.
Real Estate Agent · North Augusta, SC · Member since 2017 · 254 posts · 233 votes
3y
Hey Nate,
I feel that you're implying that agents need to be doing what wholesalers are and then bringing those to their clients. That's a great way to make a lot of money :) It's also asking agents to virtually turn into wholesalers. I have a tendency to bring wholesalers' deals to my clients (who are open to it) if it's potentially a good fit.
If off-market deals are the way to go, do you think it would be better to be a wholesaler than an agent?
Real Estate Agent · Albany, NY · Member since 2017 · 80 posts · 26 votes
3y
I've been in this game as an Agent for 15 years and we constantly see swings like this with "gold rush" markets. That was the case for the last two years with all the new agents thinking this is a get rich quick industry. (Most went back to their full time jobs it seems now). As I anticipated those Agents have had no deals for a few months and bought new cars instead of putting their nuts away for the dry season. I've seen this swing before and frankly I'd like to see the industry go back to the harder times as it teaches grit.
I am still quite busy however its with past clients that I have had for years.
Cultivate relationships and hang onto them, you need them when things get bad. I've also shifted a lot of my focus on to multi family and apartment building investing for my personal projects. Cash flow is king to me right now to keep the ship moving.