All Forum Posts by: Chris Feltus

Nichole Gabriel

I have my realtors license and MLS access. I was actually taking a look at this service a few weeks back out of curiosity. Like Trulia/Zillow etc. it seems go give a fairly decent assessment on the subdivision overall; however, the accuracy seems to fluctuate greatly when it comes to specific comps.

In addition to that, some comps that had sold a month or two back were not even present.

Edita,

As others have already indicated foundation repair is an issue in Texas. The problem is a function of the temperate environment and the underlying geologic parent material that produces expansive clayey soils.

This is further aggravated by land developers who will opt for slab on grade foundation. This is beneficial to land developers because it is quickly constructed and relatively cheap; however, this type of foundation is more susceptible to shifting soils. Because of the aforementioned variables slab on grade is common in Texas.

This is further compounded by the hot dry Texas heat and the concrete slab will absorb a good deal of the suns energy during the day (110 degrees in July is not unheard of). If a pipe bursts under slab on grade foundation you will have an expensive repair on your hands indeed. Pier and Beam foundations can be a good choice to use in areas of active soils as it will cope with ground shifting much easier than slab on grade.

Why not forego bandit signs all together? There are countless other legal avenues to market your business whether you are searching for sellers or seeking an end buyer.

But to answer your question, yes they can still cite you. I have heard of stories at REIA meetings where code will stage fake meeting calls at property addresses and ticket the offender as soon as they show up.

We are what we repeatedly do. Excellence, therefore, is not an act but a habit.

-Aristotle

Brian, yes that is correct in regards to fixed/variable costs. There are other realtor boards you could potentially join, but Metrotex is by far the most popular here in North Texas. Yes some Brokers will take a percentage of your commissions.

J Scott I almost didn't recognize you with your profile avatar change.

Anyways Brian here is a quick breakdown of what you might expect to pay here in Texas (all prices are approximations)

Yearly Board Dues (Metrotex) $400
Yearly License Renewal with TREC $160
MLS Quarterly Fees $110 or $440 annually
Broker Sponsorship $100 monthly or $1200 annually

Sum Total: $2,200

Median home price in DFW (depending on area) around 140k. Average commission for listing agent 3% = $4,200

Brian Hoyt

I just wanted to chime in to give you a realistic expectation of total expenses as a realtor. Excluding the cost of classes and factoring in: metrotex quarterly dues, MLS quarterly dues, basic broker sponsorship etc. you will likely spend about $2,300 per year to remain active with MLS access. I use a broker that charges about $100 per month for sponsorship, with no fee to list properties, and they take a flat charge of $60 per a transaction that closes and that's mainly to cover errors and omissions. If you need some recommendations let me know.

As far as doing it part time, I think your goals are realistic and achievable. I know some investors through the grapevine that list only a few properties a year and more than make up for the cost of remaining active plus the numerous benefits of having your license as an investor.

David Littleton

Simply check your counties central appraisal district.

Danny G. Welcome to the BP community Danny. And hello from the other side of 360 (Arlington).

Best of luck to you and your real estate goals, see you around on the forums.

Drop all of the sales talk, don't waste peoples time with that. You get interest in a property by having an actual Deal not a dud. If the property you have under contract is an actual deal, and the numbers make sense, you will be able to find an end buyer. Simple as that.

Beyond that, put together a property overview packet. Containing all of the essential information such as comps, tax roll information, property pictures and a walkthrough video etc.