All Forum Posts by: Charlie MacPherson

I suddenly have two different clients who have houses they want to move.  Has anybody had any experience they could share?

I've talked to one company who tells me:

- Use $50,000 as a budget figure.
- The phone and electric utilities have to move wires out of the way at no cost (seems odd, but OK)
- The main limiting factor is the width of the road
- Longer distances (1 mile+), depending on how fast the utilities act to move wires, might result in an extra day's pay of a few thousand.  And they may be forced to park the building in the middle of the road overnight, making me not so popular with locals

Any other advice would be appreciated!

 OK, maybe it's a Michigan thing.  Or maybe there are some other factors you haven't included.

To broad-stroke an entire class of people the way you did is just not right and definitely not fair.  

That's like saying that all wholesalers are out to screw desperate people.  Of all flippers are out to take advantage of the weak or indecisive.  Or all landlords are out to screw tenants.

That's WAY wrong, dude and I'm calling you out on it.

Maybe you had a bad experience.  Maybe an agent wasn't straight.  But due diligence is on YOU.  If you didn't do your own homework, you bear at least some of the blame if an investment didn't work out.

Let's think about being more careful in condemning an entire profession because you had a bad experience - most likely because you didn't do your due diligence.

Let's try to point out the ONE bad apple and not burn down the entire orchard. Doesn't that sound a bit more reasonable?

 Wow, David.  That's a pretty harsh statement that I hope, in a more lucid moment, you'll retract.  Admitting that you shot from the lip isn't a weakness - it's a sign of strength. 

My experience is that most agents are pretty darn honest.  

To paint the entire industry with such a broad brush is at best, misinformed.  At worst, massively misinformed and irresponsible. 

Let's have another think in the morning and see if we can't come up with a more rational outlook.

The time, cost and curriculum vary by state.  Check with any local real estate office - brokers are always interested in recruiting and will be a wealth of information.

When I do comps, I do a matrix on a spreadsheet.  I compare the subject property with homes sold preferably within the last 6 months and within 1/4 mile.  I'll broaden those if I'm forced to, but try to keep them as close in time and distance as possible.   

I want a minimum of 3, preferably 6 homes.

I want the same number of beds, within 0.5 or 1 bath, same septic, garage and basement and close on SF and land area and whether it's REO/SS.

I calculate $/SF for the solds, and use an average of them to calculate the sell price of the subject property.  (Average of sold $/SF X subject SF for an approximation)

I then include a section on the current competition on the market.  The finished property needs to show well against the competition.  Otherwise, why is someone going to buy mine?

Then, I'll make adjustments for differences between the properties to come up with a projected market value.

Here's an example of an CURRENTLY AVAILABLE FLIP/REHAB DEAL in 02066 (if anybody is interested!!)  I've X'd out the address so as not to consider it as advertising.

On this one, there were not enough solds within my target 1/4 mile and 6 months.  As the header indicates, I had to broaden the search to 0.5 miles and sold within 12 months.

The "On the market now" were current as of the date of the analysis.

We're currently in a wild seller's market.  The Days on Market field (DOM) tells you everything you need to know about whether the pricing was right or not!

I hope that helps.

Hi Julio. 

The broker is responsible for transferring your license with MLS and the Board.

First of all, THANK YOU for your service to our country!

It wouldn't make sense to study and take your license exam if you don't know if you'll settle in an area covered by that license.  That seems to me to be the first decision.

Best of luck - and if you somehow end up in Massachusetts, contact me.  I'm looking for new agents!

I'm about a week away from opening a new brokerage in Norwell, MA.  Investor-friendly, and looking for new agents.

Super-low friction environment with strong agent splits, broker-provided leads along with sales training and support.

Are you newly licensed in Massachusetts?  Looking for something better?

Let's chat!

A two-part response.

1. I think you'll find that home inspection is more customer service oriented than you think.  You'll be dealing with retail buyers for the most part, and they're making one of the biggest decisions of their life.  They'll need a certain amount of hand holding and will rely on your professional guidance.
You'll also want to build relationships with them, which as physicians have recently found out, results in fewer lawsuits.

As to training, that's a state-by-state issue.  In Massachusetts where I practice, the requirements include a lot of classroom, plus an apprenticeship.  Your state will have it's own requirements.

2. The past felony conviction should be an easy thing to research.  Call the state board of realtors and ask.  Then ask whether there are any exceptions for someone who has turned his life around - which you hopefully have.  See if you can get a sense as to whether an exception - if one exists - is arbitrary or rigid.

If it's the former, you may think twice.  If it's the latter, you might be good to go.

Best of luck in whatever you decide!

I agree with Robbie.  It's a CRAZY sellers market due to low inventory.

My personal opinion is that the source of the shortage is the general public's lack of faith in the supposed economic recovery.  I don't see that changing until the next administration takes over the White House - but I reserve the right to be wrong.

I cover Norfolk, Bristol and Plymouth counties and can tell you that any home priced properly is sold in days.  

If you want help finding one in Norfolk County, let me know.