Becoming Licensed.. benefits ?

Question

Hey Guys, I am looking to actually get licensed so I can do something with some of the leads I am getting. For instance, I have a few leads where they owe just under market value for the property and they aren't in bad shape. Instead of just throwing them out I can work with the owners and list it in on the MLS, I think this can help me take more advantage of some of the leads I am getting instead of wasting them.. What do you think as far as being licensed?

Bryan L. · Answer

@Rick Lucias  - It takes a bit more time than that to effectively work a listing.  Could be as much as 6 to 10 hours to get everything set up and running on the marketing.  Taking photos (good photos), putting a sign up, getting all of the information about the house (and getting it right), getting all of the paper-work in order and providing the sellers with a copy.  Then, more time once you get an offer.  Negotiating, doing the paper-work, taking it all through a successful closing.  Once you have a good lead who is agreeable to work with you and a good property, the hourly rate can be pretty good, but it's more time required than you think.

JOAN DICKIE · Answer

if that is a major motivation, go for it! Just remember though, marketing listings and the sales process can take time. If you can make more per hour on your investments than on commission off of a home sale, after you get your license you can refer these leads to another agent that has a high close rate and get 25% for doing nothing but lead generate for your own investments.

Just something to think about.

Martin Zawarski · Answer

I kinda gave up on the sales gig.   It wasn't for me.   I looked at it as basically being a full time begger.   You beg to get the listing, you beg to get it listed at a certain price.   You list it and it gets no traffic so you are begging for a price reduction.  Ok it finally sells and at what price, so you are begging them to accept the offer.   Is your begging over--- heck no!   Now they do their inspection of the property, and find some issues so they want a price reduction so now you have to go back to your seller and beg again for them to accept the terms.  Beg beg beg. I am not cut out for that.

Doing what I am doing now I never beg or even ask.  I tell! But I do it nicely, ok can you install the carpet this Friday or the following Monday. ,  this suits me so much better.

Rick Lucias · Answer

That is my thing too I do a ton of the we buy houses marketing and I don't know but in my market I am thinking since it is such a hot market for MLS deals under 120k with cash buyers flooding are market to do deals. The we buy houses brings some great leads where the house is in good shape, and they want retail or a bit below retail.. Also doesn't it just take like 30-45 minutes to put on the MLS and then if it is priced right I should get offers in right away.. especially if I can get the seller down a bit on price..

Bryan L. · Answer

I've much better success in working the listing leads myself than referring them out.  The conversion rate when I refer them out has been very low.  On the other hand, I've gotten some nice listings over the years as a result of my "i buy houses" marketing and made some money that way.

But there's times when I'm just too busy to work a listing lead.  I really wish that I had someone that I could refer them out to that I could count on to actually convert the lead.

Shaun Reilly · Answer

What she said...

Listing properties isn't the hardest thing in the world but to do it well does take some time and effort (and money).

If I were you I would do exactly as Joan said and find a couple top listing agents in your area and just get the referral fees.

Benefits here besides monetizing those leads with out much effort is that you can get in good with these agents.  They might start bringing you leads they come up that make good investments for you.  After you bring them a few you might also could make an arrangement where they pay a little into the marketing since you are bringing them a lot of leads.

Becoming Licensed.. benefits ?

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