All Forum Posts by: Billy Runyan

CONGRATULATIONS!

I know of some income producing condos (see photo) down there that may still be for sale if you are interested.  Be up to you to work out the details and my referral fee is at your descection.  Let me know and I'll "hook you up" with any of these.

Some really good input for you here and I do agree with most of it. IMHO, I'd run the ad with a cannot refuse to call to action... Like a dozen homemade chocolate cookies just call or get a free or low cost lottery ticket (proceeds to a church donation),  Meanwhile you get is a chance to meet them, ask for biz or referral and go from there.  Advertising is only good when they respond AND you have a plan.

You ROCK!

Hi,

Just posted this for another new agent so I'll re-post it here.  Couple extra comments.  If you have something important to say, say it and they will listen.  If not you listen.  That will go a long way in getting respect.  Here's some more hints:

1). Finding a mentor can, depending on the person save much time on "ramping up" your business but it could come at a cost of not being your own independent creative thinker and doer. IMHO, the business lacks individuality and to be a top performer you'll need to more than copy another.

2). Can you "go it alone"? Yes, in fact the most surprising thing about getting into the business is the realization that you are just that... ALONE.

3). There are amazing books and courses that can help you research and learn. If you use this method you will have a really good shot at finding out the individuality you'll need to find. Now that you are licensed I would highly recommend the NAR library as a resource.

4). How long will it take to ramp up? You'll find going for your first sale will slow down your training on other things, a reasonably stable yearly income level normally takes 18-24 months IMHO, becoming really good could take the rest of your life.... Lot of really good competition out here!

5). Best practices: Good relationships are to say the least CRITICAL. New Realtors® find out it takes relationships to get to square one pretty fast. Under the category of "if a broker/agent is lying to his clients" here's my take :

There is no way anyone can ever find out BUT, you must ask yourself the same important question he asks himself... If he gets caught would it be worth the lawsuit, license loss, fines and destruction of reputation to do it? Most brokers tell the truth because it would kill thier business if it ever got out. If you don't have ethics you run out of clients fast. Other agents will boycott you and you will not have a market in no time at all. One commission does not make a business, but lying about things will insure you don't have a business at all.

Remember that there is almost no incentive being paid only on the difference, it's hardly enough reason to take the chance of somehow getting caught.

BEST LUCK!

Billy J. Runyan, REALTOR® Broker/Salesperson CIPS - Certified International Property Specialist

Here's a few comments I've made before and they may help a bit:

1). Finding a mentor can, depending on the person save much time on "ramping up" your business but it could come at a cost of not being your own independent creative thinker and doer. IMHO, the business lacks individuality and to be a top performer you'll need to more than copy another. 

2). Can "go it alone"?  Yes, in fact the most surprising thing about getting into the business is the realization that you are just that... ALONE.

3). There are amazing books and courses that can help you research and learn. If you use this method you will have a really good shot at finding out the individuality you'll need to find. Now that you are licensed I would highly recommend the NAR library as a resource.

4). How long will it take to ramp up?  You'll find going for your first sale will slow down your training on other things, a reasonably stable yearly income level normally takes 18-24 months IMHO, becoming really good could take the rest of your life.... Lot of really good competition out here!

5). Best practices:  Good relationships are to say the least CRITICAL. New Realtors® find out it takes relationships to get to square one pretty fast.  Under the category of "if a broker/agent is lying to his clients" here's my take :

There is no way anyone can ever find out BUT, you must ask yourself the same important question he asks himself... If he gets caught would it be worth the lawsuit, license loss, fines and destruction of reputation to do it? Most brokers tell the truth because it would kill thier business if it ever got out. If you don't have ethics you run out of clients fast. Other agents will boycott you and you will not have a market in no time at all. One commission does not make a business, but lying about things will insure you don't have a business at all.

Remember that there is almost no incentive being paid only on the difference, it's hardly enough reason to take the chance of somehow getting caught.

BEST LUCK!

Hi Tim,

The CFPB stands for the 

some of the acronyms are: TILA-RESPA Integrated Disclosure rules, TRID and so much more your head will spin.... August 1st 2015 we may never be the same again!

It's actually part of the federal RESPA act and Nevada law.  Here's a copy of the info I have on it from 2008 published in the Southern Nevada Realtor Magazine WITH references.

In Nevada (my state) it is the law that the BUYER chooses title.  Now the seller may offer an incentive but...  You may want to check into the regs. in your state as its a pretty big deal here.  With all the new CFPB stuff going into effect everythings going to be really important to get it right.

He can refuse to represent you, but here in my state "its the law" and most everywhere its at least a big deal ethically (let me know I'll look it up for you)!