All Forum Posts by: Jessica Niles-McDonough

Congratulations on getting licensed! The best thing I did when I first got licensed was find someone who was open to mentoring/teaching me the basics.  That relationship started as me just meeting him at the office and going around to showings, appraisals, town halls, inspections etc. Just to get the lay of the land. Then it formed into me helping with certain things (I found aspects of his business where he was lacking...that were more administrative related... and offered my help to put a process in place), then I started helping with more things and within a year it formed into a 50/50 partnership and 8/9 years later, we are still going strong as a team! 

I would keep doing what you are doing and reaching out to agents you see doing well (maybe not even the biggest agents, but the moderately successful agents, because they are the ones likely looking to grow) in the area, ask them for a quick sit down and see if anyone is willing to teach and mentor you who wants help. Not help like being their buyers agent, but help by learning to put together a legal file, going to town halls, doing any type of due diligence, helping show their clients if they need to double book, then, if you bring in a lead or client, ask if they will co-broke it with you...so you work on it together. You'll make less money in the beginning this way, but it will truly set you up for success down the road.

 If you don't have any luck with that, then an agency that offers training is next best, but it's the bigger broader advice which I found less helpful on the deal to deal stuff (I went to a bigger agency to start my career, so had both a mentor and big agency). But really, a bigger or relatively successful agent who is looking to grow will be looking for someone like you. Eager, willing to put in the time, looking to learn. You can help each other.

Since I've been licensed, we've mentored a number of agents and the ones who are willing to stick in it and learn have become very successful within the first 2 years of being licensed. 

I hope this is helpful, don't hesitate to reach out with any other questions!

Thank you all! Great insight. We have other investment properties that that have much lower premiums with full replacement value, hence our confusion or lack of understanding. Thank you all so much again and Dan, just shot you a message!

Hi all!

My husband and I own a property in Falmouth, ME that is 2 single family homes on one lot. We rent both properties. We continue to struggle to get what we consider reasonable insurance quotes, so wanted to get your take on whether we should continue to shop it around or if we are just dealing with a property that may always just have a higher insurance cost. This is the only investment property we have that is like this, therefore, we just don't know if we are being unreasonable or not!

A little insight into the area/properties themselves...Falmouth is a highly desired town in southern Maine, both for rentals and purchase. These are long term rentals  (12mo lease), no flood insurance (not near the water). Homes were built in 1950 and (roughly) 1920. Both rehabbed in the early 2000's and we've done significant work to them (heating systems, siding, basement work, new septic systems, roofs etc.) since we purchased them 6 years ago.

The premiums we are getting quoted are in the vicinity of $1400 for the one built in 1950 (3 bed 1 bath) and about $900 for the one built in 1920-ish (2 bed 1 bath).

This past time we shopped insurances around, we went through a policy genius broker.

Any insight is much appreciated!