All Forum Posts by: Sarah B.

Sarah B. has started 25 posts and replied 114 times.

I live in Key West and practice real estate here. The rental market is insane. Truly like nothing I’ve ever seen before. Both the vacation rental market and the long term market, but especially the vacation rental market. I know what hotels and Bed & Breakfasts are making here. The inventory is tight because it’s the Florida Keys, but there are things available that are turning a pretty penny. Ever want to chat, feel free to reach out.

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Originally posted by @Page Huyette:

I posted in this thread earlier this year while I was considering moving my indie brokerage to eXp. I was immediately solicited by some eXp agents here, some aggressively and some from a place of support. I mention this because this was the PRIMARY reason I was turned off from eXp in the first place, and it took several months of digging deep into their systems, talking to multiple agents across the country, and more importantly, digging to ask myself what pain points I was trying to solve that prompted me to even consider giving up 100% control. I had to isolate that icky recruiting piece in order to find the other things that mattered to me.

Here are a few things I've learned:

I think eXp still has some work to do with on-boarding new agents, specifically new to the business of real estate. I didn't have a concern getting what I needed, but there's A LOT of information that is pushed out to you immediately, and that process could be more streamlined for everyone, especially newbies. I tried to assess it as a new agent going through it all, and it quickly become overwhelming from that perspective. So many agents fail in the first year or two of real estate specifically because they don't have the support they need, so I believe this is an area that needs more attention.

I do not think it's a great place for a newbie agent to start their career UNLESS they are joining on with an eXp team that has a training program/guidance set up. eXp does offer a mentor program ,which I hear is fantastic, but I have heard from agents new to the business they needed *more* which I interpret as needing more guidance, training, systemized on-boarding. So for now, my opinion is it's not a good place for new agents to start off on the right foot if they aren't attached to a team. OK, I think I've beaten that topic to death. On to the next point.

The PRIMARY most important decision when starting with eXp is who you choose as your sponsor. This cannot be changed, ever. I don't like the word sponsor and hope they change that. Your sponsor and the tribe/pod/alliance/group they work with will determine what sort of support, collaboration and masterminding you get. I spent several months speaking with high performing agents across the country I was considering aligning with, and kept hesitating because a lot of what was being discussed was revenue sharing, passive income, stocks...that's not why I wanted to move my brokerage. It felt like a broken record, and very cheesy and salesy. Exactly what I do not like about real estate sales. Now I know a lot of these agents have been successful in those realms, but that wasn't my driving goal. But they couldn't seem to talk about anything else? So, as I said before, I had to dig deep within to come up with specific reasons I was even looking at the model, and what I would need to hear to make the switch.

Well, I did the work, and I made the switch. As of today it's been about two months. Will eXp alone make my business successful? Heck no. I still have to seek out and apply what is available to me, and then implement. What I am getting is high level collaboration, instant answers to any question I ask, and the tangible feeling of being supported in my business. I did not have that with the other four brokerages I worked with, nor did I have that peer level of support in my own brokerage. That alone is what differentiates the eXp model: there is a vested financial interest in supporting other agent's successes. It raises the bar in real estate overall, and goes completely against the me vs. them ego-centric culture of real estate I have been constantly fighting against.

I hope that helps people understand the model a bit better. PM me if you have questions, and if I can't answer I'll get the answer for you--no strings (and no recruiting!)

thank you for your contribution to this thread. You and I think very much alike and your posts have helped. I am making the decision of possibly moving to EXP very shortly. Currently with C21 and while I was skeptical of the whole ‘MLM’ type sales pitch of eXp, I know several incredibly high performing agents who have made the move and love it. I recently moved to a little island and am in a way starting all over again after 15 years in the business. My primary avenue of real estate before was investing, with a focus on flips. I would never flip here for several reasons I won’t get into on this thread. So being a ‘normal’ real estate agent is what I’m doing here, starting all over in 2 ways. 1. Not having any connections here and 2. Sort of learning how to be a ‘real agent’. I’m on track to close 10 deals in 8 months when my current deals close with 2 weeks. I’ve been on a team where almost 1/2 of my commissions is being taken and my broker wants to be co-agent on every transaction despite knowing nothing about that transaction. It takes a little piece of my soul each time I see my check!! I’m used to 90%! It was humbling starting all over in a sense and joining a team, but also necessary at the time I feel. I get a lot of leads from the team. And that’s a big part of the reason why I’ve closed so many deals. But I’m ready to go. I’ve been watching videos on YouTube about exp, the KvCore platform, etc. It seems like a fantastic tech platform (I’m coming from boomtown and have never used a CRM in my 15 years except for the last 1 year!) All of the functions with a click of a button for marketing and advertising are great. How does the lead generation system work through kvcore with Exp? Can I pay additional through the platform for leads, or do they have anything similar in place? I am slightly in fear of leaving because of the amount of leads i am getting, but when I’m done I know I’m done. Any insight about the Exp/KvCore lead system options would be greatly appreciated!

Thanks in advance!

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You might be able to find a contractor who would do the work and have the capital or split funds with you for material costs, and you work out a deal to give a portion of your profits from the sale of the property.

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One of the R’s is repair and fixing up the property which therefore increases value. Just ensure there are comps in the area to support the value. And as the previous poster said, I always had a list of repairs and upgrades done the property to present to the appraiser, and which the lender often asked for anyway.

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Never mind on Asheville 😂

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@Wendy Schultz yes living here for 2 years now I’ve learned it’s difficult to just get everyday items lol. I would never flip here, ever. The lack of contractors and good contractors at that, the lack of places to get material, the holding time, etc. The list goes on. I would love to chat!

@Michael Baum how is ideal on the lake doing for you? Year round occupancy, or is it more seasonal?

The problem in Key West is not only the property prices, astronomical insurance, and potential disasters (I lost my home in Hurricane Irma), but there are extremely strict city regulations and laws in place for STR's. It's not easy. Only certain properties are qualified and then it's a fee and an extremely long wait process. It's just not worth it, in my opinion. Plus I need to get out of here every now and again. Yes it's a beautiful vacation destination and I love it, but i love a good change of scenery.

Any idea on the Tempe/Scottsdale areas? There used to be a function to search the forums on here but now i can only find a way to search the whole site. I’m on my phone at the moment, not sure if the feature just isn’t available here.

Also, anyone have experience in the Fort Worth area? Near the stockyards maybe?

@Julie McCoy What about Asheville in the Smokey mountains? @Paul Sandhu Your story is interesting. I’ve been on this forum topic since I posted. Kudos for finding this crazy niche market that people wouldn’t usually seek to invest in, and doing quite well it seems. You also mentioned smoky mountains, any recommendations in addition to Gatlinburg?

And last question is Colorado Springs which several have mentioned here in the forums. I’ve read that they recently curbed a law to increase tax from 7%-29%, but that doesn’t mean it’s gone forever. Thoughts?

@Julie McCoyundefined

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What areas do you feel have pretty good year round demand, and why?

Originally posted by @Ryan Riches:

My wife and I own 2 STRs in Colorado Springs and have 2 others under management. Definitely investor friendly, and is the second most visited city in Colorado next to Denver! The Airbnb market here is pretty localized though, certain areas really only rent out in the summer, while others have pretty good year-round demand.

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I don’t think either are dead, but I have heard some chirpings about Vacasa, and they allegedly advertise on a the pertinent vacation rental websites.

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What is your experience with hurricanes hitting Galveston? I’m in key west and see Galveston is right on the gulf, with Irma hitting 2 years ago here it’s definitely something I take into consideration!

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How is business in Huntsville? What is your average occupancy rate there and are you profitable in that area?

Originally posted by @Rhonda Blue:

I have seen companies referred on this forum like Evolve and know that they are somewhat disconnected from their properties compared to local managers. Be sure to do your research and make the decision for yourself. Sometimes paying 10% to a manger to take the midnight calls about the faucet leaking water or 2 am calls about the power being off after a storm, and don't forget about the daily calls about the remotes not turning on the TV. IS WORTH IT!

My Huntsville AL manager takes 10% for my 4 LTR and it is the best money spent for piece of mind. My cabins here are a full time job!

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All Forum Posts by: Sarah B.

Sarah B. has started 25 posts and replied 114 times.

Post: Best advice on getting larger loan amounts i.e. $1.5 mil

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