All Forum Posts by: Account Closed

Hello Tiffany,

As you know specific rules vary based on local associations of realtors but agents are typically required to speak with the person's agent, and not the person directly. In this case you specifically told them you were with an agent!

The agent who showed you the previous house you bought most likely violated his board's rules by dealing with you without either an unrepresented buyer form or w/o dealing with your agent directly.

In other words.. I would trust this RE company - they actually follow the rules and won't get in trouble.

Just ask a buyer's agent to show you the house. Some of them have no problem driving around all day as long as you're a serious, qualified buyer. If it's your mom, have her call the places for you, that way everyone is covered.

I think you need practice wearing business casual. You don't need to wear suit and tie but you should at least feel confident wearing a sports jacket and pants. It doesn't come naturally for most people, you just grow into it.

Saying "I don't want to do it" is like saying "our culture has predetermined norms for what a businessman / professional wears, but it's too much work for me".

Can you do fine without? sure. But why not just do it and not have to worry about it.

As a self-employed immigrant, I am in the same boat as high school students and college grads - no credit history and no 2 years worth of tax returns.

I asked a banker buddy if I could put down 75-80% down payment (which I have) and get a loan for the rest, and he said no. I asked the same question to a mortgage broker, and he said no.

I'm sure there are more lenient banks out there but this is the exact reason why people serious about RE hate banks.

Do you mean what to focus on in terms of education, or in general?

If your leads are coming from "we buy houses" marketing, then I would say her goal should be to start networking with local investors and developing a buyer's list. A good way to start is to look through county records and see the LLCs that purchased homes in the neighborhood. Laser targeted potential buyers.

The thing I love about being an agent is that it helps you with almost everything else RE related, whether it's raising money, doing rehabs, getting referrals etc. She did the right thing!

PS: Having a 70k car can be a horrible idea.. RE agents tend to drive a lot so I'd rather put that kind of mileage on a cheap, efficient car. And you can deduct mileage at a set rate whether it's a 15k car or 70k car.

You don't mark down anything. Questions like this are based on mistaken perception of the typical transaction. I had the same apprehension.

When I started as a RE agent I thought people would be interviewing me and I had to have a bunch of smart answers lined up, especially when it came to experience.

To be honest, so far no one has ever asked me about my qualifications. As long as you know what you're doing, you're professional and you deliver.. people usually don't question it, because you're the expert.

It seems like you're on a tight schedule. I'm an agent with KW here in Lynchburg. Contact me through PM with the house information and I'll look it up. Then we can see what the options are.

Since they have equity in the house, time is pressing but there's no need to panic.

Not having a contract is irrelevant. There have been cases like these that actually went as far as state supreme courts because brokers felt slighted. How much do you think that cost in litigation?

When in doubt, don't do it or seek help. Not after it's done..

Hello Cindy,

I'm not an agent in North Carolina so this is my opinion only. It sounds like every party in this case made a lot of mistakes.

From what I'm seeing online, net listings are legal in North Carolina but you see exactly why they're illegal in a lot of states. In this case it's even worse because it's not clear if the agent was representing the buyer, or acting as a dual-agent.

The current situation is too complex for an online forum, as we don't know what either party signed, what was said etc. You should consult the agent's broker and a local real estate attorney.

PS: in a lot of states even if you didn't sign something, but you agreed to it, it's still binding. It's just harder to prove.

Welcome to the forum.

Your idea is very reasonable and that's one of the recommended ways to start (if you qualify of course). Since you'll save on rent, or even cash flow from it, then you'll be able to get even more savings and invest that too.

Make sure you start building credit NOW because that is one of the biggest issue with first time homeowners.

If you ever decide to settle in Central VA, feel free to contact me. I know most of the agents in our region so I can point you in the right direction.

Dodo here reminds everyone that several states are cracking down on unlicensed wholesaling.