All Forum Posts by: Nicholas Smith

We utlize Realtor.com and PPC campaigns as the vehicles for online leads. Both have varying ROI with the PPC advertising being the most lucrative. The con for the PPC is that it took years of steady building to get it to great generator it is today. We have one dedicated agent that's primary job is running the PPC and following up on leads. Realtor.com is relatively new for us but is showing really good promise.

For social media, we use it more of a branding area and not necessarily lead generation as we drop those campaigns within our farming area.

We used Zillow for awhile and drop some serious cash on it but we did not appreciate how they handled the business and allocation so dropped them. They have since changed their operation but out of principal have stayed away from them.

More then anything, I would focus on one or two of your chosen generators and working on getting them dialed in. If you have to many plates spinning at once it will be hard to properly leverage the leads and track them to verify ROI.

To my knowledge there is no restrictions on the amount of assignments that you can do annually in CA. There is however a duty on the Assignor to disclose to the Landlord/Optionor/Seller if there is any monetary valued the the Assignor is receiving from the Assignee and the Landlord/Optionor/Seller has to approve the assignment regardless if their is any monetary compensation between the Assignor and Assignee.

Typically we do not utilize an escrow company in a Lease Option Agreement unless and until the Option is exercised by the Optionee. 

Because I am an active broker, I cannot recommend an escrow company as those I usually work with are affiliated with my company. 

I have been a practicing broker for over 13 years. The short answer to your question regarding the study material and test questions as it relates to the real world is that the CA test is a broad test against many facets of selling all types of real estate in CA. So most of the info you will never see again nor really need to know (such as some of the obscure title issues and deeds). I would just focus on the info that has relevance on what you will be focusing on (such residential sales). With that being said, there is a ton of base information within those courses that I would like all agents to have background knowledge on in the off chance that it comes up.

I like KaplanRE for the prep courses. They have a good online test taking site and accompanying videos. Either way it is tedious. My advise is after you have read the source material, take the practice test questions constantly until you are able to consistently get a passing score.

Once you have your license, CAR.org is a font of relevant information regarding real estate, most importantly I would focus on the Legal Live Webinars (there is a back cataloged in there). Also note that my "day job" is that I run operations for a team, so I tend to favor that side of the business. What the test does not teach you is how to actually sell real estate (prospecting, showing houses and such). For that, I would search for a good mentor.

Hello Val:

I live and love Long Beach! I would be curios to know why you have honed in on the west-side of Long Beach near the Port, especially as you plan on living there. It would not be my first choice in looking for property in the City. I would also consider parts of San Pedro as well as other portions of Long Beach depending on your investment goals and if you are looking to build in some sweat equity or bank on some future appreciation for the area based on local initiatives. 

It is highly uncommon (and I have never seen it happen yet) that a Quit Claim Deed is ever used to transfer property to another purchaser. In CA, the Quit Claim is used to transfer interest between spouses or trust. This is primarily because their is no warranty in ownership. This is especially important if you are looking to finance the Property. If you are still looking to purchase the property, then utilize a Grant Deed and with Title Insurance. As stated by Ellis, we don't use Warranty Deeds. 

Also, the current owner will not be able to transfer the property if there is a mortgage on it because of the "Due on Sale" clause in most mortgages. Your option might be to do a Lease Option Agreement on the home

As @Matt M. and @David Hunter have said, take your resume with a well laid out cover letter around to the offices in the area you would like to work. Additionally, find out who the top producers are and reach out to them directly.

I started out in the business 9 years ago by doing just that, and scoring a paid assistant position for one of the top teams here in Newport Beach. I went to the brokerage and asked to speak with their broker manager. After my initial meeting, I got a call a month later to come interview and landed the job.

One of the reasons that they hired me was because they wanted someone that they could train their way, and not have to try and break habits of another agent who had been in the business for awhile. Best training I ever received.

Good Luck! 

You can also use the the Statewide Buyer and Seller Advisory (C.A.R. form SBSA). Additionally, most escrow instructions include this disclosure.

I am in the same boat as @Glenn Humphreys. Paired with what he has said, the market tends to soften during election season. I foresee some slowdown once we get closer to November, and for that to continue onto early next year as everyone waits to see what the new presidents agenda will be. 

That being said, no one has a crystal ball to look into the future, all we can make are somewhat education guesses. My wife and I sold our house last year and moved to a new county. We plan on renting for the next 2 years until our next purchase.

I would attach an Addendum to the Purchase Contract with the disclosure on it, Include your BRE#. The reason I suggest going this route is that since you are deemed to have explicit knowledge in real estate, you do not want to make it look in anyway that you are "hoodwinking" the Seller in anyway, especially since they don't have their own representation. It's a CYA in case anything goes south.

When you fill out the RPA, include a "Seller Non-Agency Agreement" (C.A.R. form SNA). 

As a licensed agent, I would not use anything besides a CAR form. You are presumed to have explicit knowledge of real estate, and with the Seller not being represented by their own Realtor, you want to cover your bases as much as you can. Don't need to leave out any parts of the Purchase Agreement.

If their is no listing on the property, their is no commissions due any brokerage. The only part you want to verify is your agreement with your brokerage regarding purchases such as these.

You must disclose that you are a licensed Realtor.