All Forum Posts by: Account Closed

Make sure the commission structure is worth it. I know commercial real estate agents who quit and became residential agents because the company was taking too much through various fees.

It got to the point where a $10,000 commission would net the agent $1,500 which barely covers expenses.

Brokers seem to have a big advantage over agents in cases like that.

Well done James. What is your objective, to be a top agent, simply to use the license for your own investments, or a bit of both?

I like the fact that the marketing as a RE agent generates both listing AND investment opportunities!

Pretty amazing how polarized this thread is.

Truth is, you can't argue with someone who's brand new to all things real estate and genuinely believes top agents are going to be at his beck and call before ever completing a transaction.

Be honest with us. I'm curious. How many properties did he show you? Did you actually submit any legitimate offers?

I'm glad you're realizing that you need to think about what you were doing wrong and improve, but simply heading for Jacksonville isn't the magic bullet - if you can't find good deals and buyers on your home turf, what makes you think you can find them elsewhere?

Imo, if you really did get those leads, just become a RE agent and list them. Stop wasting your time with wholesaling if you're bad at it. Focus on what you're good at which (from your messages) is finding people who want to sell.

Now that is great advice. If only everyone understood this! Great job Steven.

(I'm not perfect either and I made / still make plenty of mistakes. I just feel like agents are often unappreciated. They have to put food on the table like everyone else and that doesn't happen until someone buys/sells something.)

His team criterias are good. Except the agent isn't an employee, he's an independent contractor who only makes money when you buy/sell something. The interview process goes both ways - you expect him to show you houses etc, but he expects you to actually pull the trigger and buy something.

Have you fulfilled your end of the expectations?

Bryan, the CEO model involves more than just getting an assistant. Look up Gary Keller's books which detail that model. A lot of the KW mega agents across the US are using that model. Obviously you don't have to if that's not what you're interested in but it sounds like the natural progression for your business.

Since you're already an established Realtor, and your marketing is perfect to feed BOTH your RE agent and RE rehab business, you can do both. Just imo. The team you'll be building is pretty much the same team for both businesses.

You described 99% of Realtors in your description. All of those are extremely common.

Not responding within 24 hours is bad, but you have to realize that your speed is uncommon. Most of the time it's agents chasing people around for days, so the guy might have slowed down himself.

I'm not saying he's right, I'm just saying that you need to look at different perspectives. At this point he's really doing you a favor by driving around for free showing you houses with no idea if you'll be like the 10 other guys that contacted him without ever buying anything. This message is proving him right - he's shown you properties and you still haven't pulled the trigger.

PS: You know how many clients are happy to talk to us between Dec 24th and January 2nd? Not many! A lot of agents take the entire month of december off because no one wants to do anything. They all say they're waiting until january.

Vacancy.

Most people underestimate it. Can you afford the mortgage if you go 1-2 months without a tenant?

If you don't enjoy doing the marketing aspect and it really does only generate less than 20% of your income, then you have 2 options:

1) Use the CEO model - build a RE team with you at the top. The pinnacle of 4 hour work week, but requires scaling up.

Just imo removing marketing (which you mentioned is actually working for you) would be a bad idea.

2) Steer away from marketing for listings and focus on what you like and makes you money which seems to be buying from MLS. I'd network with other agents to still try to get their pocket listings before they list them.