All Forum Posts by: Account Closed

Are an all-cash offer and a quick closing an option at this point? If you are taking on a note for the property just have your agent draw up a contract and make the offer. I love watching properties sit on the market for 7-8 months and submit a low ball offer. Someone beat me on this gem 1002 Grand Ave. 

The rental income from the small apartment unit would have paid half the monthly payment.... 

Keep in mind this is a business transaction and you should fall in love with numbers not realty. 

1. Is the market too saturated with agents to actually be able to make a living here? 87% of agents leave the business within the first two years. Do you have what is necessary (Sales/Lead Generation) to make it while the others fall off? (Focus on listing agreements (Leverage), not buyer representation) 

2. To agents in small markets - how far away do you normally conduct business? Is a 30-50 min drive too far to list homes/help buyers purchase? Draw a circle around your brokerage encompassing a two-hour drive in each direction and focus here to start. 

3. How far away is your office? Does it matter how far it is? How far are you willing to drive? It does not matter, The Keller Williams office in Abilene, TX has an agent which lives 2 hours away. 

4. How far are you located from the homes you are involved with? (Where are you door knocking and who are you cold calling?) 

MP,

Did you sign a buyer representation agreement with the realtor you were initially working with? If so you will owe that salesperson a commission regardless when you make the purchase. 

You say that you are doing all of the research yourself. Is this the fault of you or the realtor? 

An agent is there to serve your best interest and negotiate on your behalf putting your interests above their own. Serving you is of most importance to a great agent with a commission check being a bonus. 

A brokerage would be more than happy for you to sign on and make a portion of whatever commissions you make. I know of a couple agents in my local area whom have a license just for the purpose of sourcing and purchasing rehab properties and do nothing more with it. 

You do have to be aware of the mandatory continuing education you will need to complete along with other education requirements that come with the license as well. 

Go to a local brokerage and share your thoughts, they would be more than willing to steer you in the right direction. Or if you are uncomfortable with that find a newly licensed buyers agent and take them out for a bite to eat and pick their brain on the process. 

Best of luck 

Keller Williams - Learn before you earn. 

Do you have the time to be in a classroom? Are you located close to an accredited real estate training school or college which provides the courses? I personally am completing my training online for these reasons.

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