All Forum Posts by: Bill Plymouth

@Alessandro Cardito i would think handling 5 different contractors would be difficult.  If you intend to do that, I would only use 2-3 tops.  

Another potential issue I see, is inconsistency of work.  Each contractor might have different standards of work.  If you go that route, just keep a close eye on all involved 

Do what you say you’re going to do, and keep expectations realistic  

Have a pipeline of “investor friendly” deals that you can send to investors while they are still off market.  

@Account Closed I believe that’s fair on account of the 220k property.  You handled the paperwork and that’s about it.  That’s a smooth 2200.  I would assume the sale you are currently working on will command a higher commission 

Wow.  I spent a day off BP and I came back to a lot of information going in a bunch of different directions.

I’ve began to think that I’ve let ego and thoughts of monetary reward go to my head.  Moving forward I will make sure I weigh each opportunity differently.  In this particular case, with the extra work needed, I believe that a higher commission is justified.  

@Thomas Jackson no need to apologize for being blunt! I appreciate the honesty. If that agent just throws it on the MLS and calls it a day, I believe 1.9 is justified.

@Trevor Emmett I agree with you!  I believe a lot of agents are truly just transactional.  I want to be an above and beyond top producer.  I think people can tell the difference between a Honda and a Ferrari.  

@Steve Milford that’s a good idea.  I can charge for marketing ahead of time.  

@James Wise that’s a good point.  I want to be the guy at the top.  Maybe I’m thinking to much about money. For this particular deal I was going to charge 8% so i could take home about 4500 minus 1500 for the buyer’s agent

@Judy Parker I would love to buy it, but I’m in still in the education/capital building faze.  I don’t have the confidence to use OPM at the moment.  

@Frank Wong you’re right.  Every dollar does count.  Maybe I’m letting my ego influence my thinking.  

I know this isn’t everyone.  I tried to get a few people from each page!

@Account Closed that’s a brilliant plan!  Thanks for taking the time to chime in. 

@Kristel Daugherty you knocked it out of the park.  

@Christopher Phillips I’ve found this to be true as well.  

@Nathan Killebrew too many people network with the mindset of “what can these people do for me?”.  Kristel is absolutely correct that you need to come from contribution.  

The next best advice that I can give you is to be genuine.  I feel like when I network, there are always a bunch of people there who put on this big fake smile with their business card out stretched who “yes” you to death and agree with every word that comes out of your mouth because they want you to like them.  Networking is like dating, be yourself, be friendly, try to make it work, but don’t force it.  There plenty of fish in the sea.

Also, I would read Dale Carnegie’s book “How to Win Friends and Influence People”.  It’s astounding. 

@Brett Goldsmiththat makes sense.  Though I am very curious now, why is it typically used by/associated with scammers?  I was unaware that was the case. 

@Christopher Lombardi I know a guy who buys underwater property "subject to". From what I understand, which honestly isn't much about the strategy, is that the mortgage is transferred to your name and you assume the payments. There was a situation where he assumed the mortgages of 6 properties payed off like 7k in back taxes, and "purchased" the LLC containing the properties for a dollar.

@Brett Goldsmith you seem you may know more about these types of purchases.  Would “subject to” be a viable option in the OP’s case?

@Caleb Heimsoth thanks, brother!  I’m really trying to learn and soak up all the info I can before I get started.

And yeah.  I’m starting to think I won’t even take the listing.  With all the extra marketing and time I’m going to have to spend on it, the 3% won’t cut it and I don’t see him agreeing to a higher percentage. 

@Steven Foster Wilson oh yeah dude.  If you spot somebody property on Zillow that happens to be a good deal and use some random realtor then yeah.  3% is justified.  I would say they deserve less than that.  I would agree that any agent that throws a sign on a lawn and calls it a day also deserves less than 2.5-3%.  That’s not the point I’m arguing.  

The point I’m arguing is that the realtor who goes above and beyond for a 50k property to get it to sell before the city auctions it due to unpaid taxes, which is the situation I’m in, deserves a bit of a pay bump.  3% of 50k won’t cut it for the extra work/marketing that will come out of pocket.  I go above and beyond for all of my clients. I earn that 3% that gets typically charged.  

When it comes to $50-70k listings, I believe I should be able to charge based on the work that I do.  This is a business.  I (and other HARD WORKING realtors) should be duly compensated.