All Forum Posts by: Ivy Wang

@Jason Wang check your state laws regarding real estate. In CA, a property management business owner must have a broker license.

@Cody Evans and you would be a part of the select few who I wrote would not care about the relationship and resort to Redfin, Zillow, etc. I don't think it's a generational thing as well, as much of a preference or the nature of the business. I have plenty of buyers and investors who are millennials and enjoy having a relationship with me, a trusted resource to guide them through the process and provide pocket deals. A robot may be able to list your house and market it, but can't advise you on what to do if you already have $4,000 in concessions, the FHA appraisal came in $4,000 short, and the Seller won't budge on the purchase price. A robot can't advise you on different strategies to win in a Seller's market where there are 30 other competing offers. A robot can't offer pocket listings on multiple units, mix-use, or commercial buildings where your ROI is 6%. This is where agents have their value. If you don't provide value to your clients, then yes, they will resort to someone who will or possibly a robot.

The CEO of Zillow has even said recently that he doesn't believe technology will make real estate agents obsolete. People often compare us to travel agents. It's very different buying a $2,000 vacation versus a $500,000 home. When stakes are that high and emotions are all over the place, people want to hire and work with someone they trust. One of the most important things in this business is relationship building. There will be a select few buyers and investors who won't care about that and will resort to Redfin, Zillow, or some other "new" technology, but I believe the majority will still want human face-to-face interaction.

One of the most important things in this business is relationship building. Whether or not your SOI is ready to buy or not, it's important to build, maintain, and remind. Your SOI may not be ready to purchase, but they may have family or friends who are, so ask for referrals. At your age, your SOI probably won't get you very many deals, so maybe you should consider focusing on other methods to generate leads.

@Anssi Viljanen , hello from the 626! I'm out in Arcadia if you ever have any questions or help with buying and investing in property. I specialize in the 626-area and also work often in East LA/Downtown and surrounding areas.

Yes, I used Allied and I would recommend them for the three prereq courses.

It depends on your state. In CA, licensed agents may pay a Finder's Fee of up to $500 to non-licensed individuals. It's most common in commercial pocket listings.

If you were to give them a cut of your commission after splits, you would have to give them a 1099, otherwise, you'd be paying that tax for them.

It does not affect me at all, and it shouldn't affect you if you're an ethical agent. If you become a Realtor®, this is in your code of ethics. As a buyer's agent, I represent the buyer's best interest and I send them properties that fit what they're looking for regardless of what my commission will be. If the percentage is lower than what I prefer based on selling price, buyers know that it's possible they will pay the difference out of their pocket.

You can try paying Vulcan 7 for expired leads. If you're a Realtor, you can look up tax records for preferred mailing address.

A little bit. Usually, checks are written to my brokerage or escrow/title, never to myself. I think it also depends by state, but I believe agents aren't legally allowed to have checks written to or deposited into personal accounts. In CA, only the brokerage or escrow holds the money.