All Forum Posts by: Brian D. Beatty

Matt,

Not sure if your MLS is similar to mine? Look for RPR in your subscription. This is one of the best data programs that can be done by any location, state, city, zip code (even specific neighborhoods) or radius from a specific location. They have plenty of free trainings, through their tutorials on how to best use their features. It is also a great resource for building CMA's.

Not unless you write that in your offer? Doesn't really work that way. The offer of compensation is between licensed agents, unless you have an active license and work for a Broker, the listing agent takes the whole commission! 

Simple answer is No. 

But my question, to you is, If the Seller already has an agent, who do you believe is looking out for your best interest? Who's in your corner? who's going to negotiate on your behalf? Do you think the Sellers agent will represent your or just facilitate the transaction? 

Having a Buyers agent costs you very little, if anything at all. By allowing the Sellers agent to represent you, he now has both side of the deal and you just doubled his commission, in most cases.

Whether you are a cash buyer or financed buyer have an agent you can build a relationship with, that will look out for your best interest. You probably plan on doing future deals? 

I have a guy in Tampa, Ill message you his info. 

Matt,

Check the Local Realtors Organization, for monthly market reports, this will give you a good source on where you market trends happen (historically), like which months have the most volume of Sellers, Buyers, Types of properties and what type of sales (cash vs. financed). My local organization does a great job, breaking down from SFH & Condo/Townhome stats. They send it out every month, in a digital print form and a link to a Youtube video version. This is one type, should be free (with your paid organization fees). On our MLS we have access to RPR which you can all the reports for a specific neighborhood, zipcode or city. These can give you similar stats, narrowed down to a specific area. I suggest viewing any open house, in your target market, get as much info from the List agent about what the Seller improved, how they came up with the value. Also look at vacant listings in your market, go start looking on your own, look at condition Vs. price. It will take some time, you will get a feel for what the market is doing. Try to focus on the price range you want to work, meaning don't look at $50K mobile homes and $1,000,000 listings, if your target market is $200k-$400K, become an expert in that market. Once you get one market down, you can transition to others. Also a lot of Title Companies have amazing apps available to Realtors, for free, that have some unbelievable data searches and ability to put together specific farm markets. Hope this helps!

Joe,

As a Local Realtor, in your market, I can tell you there are plenty of investors throwing out low-ball offers on every property that hits the market. Some of these are completely laughable #'s that would make absolutely no sense, to any Seller. It is a 1% rule, that you through out a crazy low number, 1% will react with a High counter offer. Then you do your research, knowing they are at least open to negotiation! Then you counter their counter, with a more substantial number, you would think gets them to consider or re-counter (this is typically a long drawn out cat and mouse game). This is one way to acquire properties, just realize that you will ruffle a lot of feathers with this approach. Also if you are not a licensed agent, you will either need to get good at writing these offers yourself (knowing what you are submitting is in your best interest), or you better have a great relationship with an agent. Like mentioned above, our State As-Is contract is 12 pages long, and plenty of disclosures and addendum that need to be considered, with each and every offer. Most agents will not be on board, since this process takes a lot of time. The agent will also be the one front and center on all of these offers, which tends to put their reputation, at  risk. I highly suggest making the connection with 1 local agent, that will be a lifelong asset. Trust their daily dealings with local market conditions and scenarios. Let them show you the value in what you are buying and what your possibilities are. Hope this helps? 

Jesse,

This all depends, are you getting for the right price? Can you afford to make the corrections after the closing, if you get it for the right price? If you cannot get the Seller to make corrections before the closing, and you cannot afford to fix after, can they credit you money back at closing? Are some of these really an issue, if the home was built in the 50's and no permits have been pulled, for major renovations, most of these items are grandfathered in by the age of the building. Home inspectors can site things like S-traps, that are not allowed now, but were in the 50's (guess what, if they didn't work, don't you think someone would have changed them by now?). Remember first rule in Real Estate "Everything is negotiable", biggest issue I see, on what you posted would be the electrical, for insurance purposes (call an electrical contractor, or Seven, to see what a ballpark price to re-wire a 2700 sq. ft home would be. Use that to negotiate. Mold or mildew should be tested and source the problem, its usually a simple exterior fix and remediation of the damaged area. I focus on the safety items in inspection reports, you are buying a 60+ year old home, its going to have issues (which are all fixable, as long as the deal makes sense)! Hope this helps.  

I know plenty of Property Management companies locally, that have rental inventory with pools. I am pretty sure they and their clients all have insurance. Florida insurance can be found easily through a site quotesavage dot com. if you search that you can check on line. 

If you Google "Appraisal Institute" it will direct you to a Page, followed by .org! Upper left corner has "Find Appraiser" , click that link put in the Zipcode, it will bring up a list. Hope this helps! Sorry I cannot post the link in the forum, or they see it as spam. Its the regulatory body that oversees the appraisal industry. It is unbiased and basically gives you the closest to location. 

@Dan Schweit

Team or no team? I would say it varies for everyone. Are you the type that walks into a room full of strangers, and does not have a problem walking up to people and having conversations (not selling, just at least introducing yourself)? Or are you the person that walks into that room and tries to find the person they know or talks to the bartender or server more than anyone else? If you join a team, you may get more work, at first, but are you getting the credit? Do you need training, does the main office train, or only teams? Every office is different, every person is different. I've had friends join a team and get burnt out, others succed and branch off on their own, some never leave the team. If you are self starter, with a good list of local contacts and are not afraid to realize its your business, no need to join a team. If you like to be led and trained, join the team. Hope this helps, realize 87% of new agents will not be here after 2 years! Use that for motivation! Hope this helps!