All Forum Posts by: Brad Miller

Are you looking for agents in a specific area?  I am in the Atlanta area if you need assistance out here.  

I am looking for a way to secure financing on an investment property.  I have a renter that will be in place for 4 years and would like to buy an investment property under my name and lease it out.  I already have a first on a personal home so I'm looking for some suggestions or lenders that would be willing to lend under these circumstances.  

Thank you in advance for any help.

If you are looking at remote work in the Real Estate world then look at a contract coordinator (contract to close) position.  Real Estate is local and emotional.  You will not be able to serve your clients from across the pond.  If you have a big sphere of clients here in the states you could refer them but being a Relator requires you being where your clients need you to be, with them thought the transaction and beyone.  

Hi Alex,

There are several online courses you can take and some prep courses to take prior to your tests. Check with your local real estate boards for in-state suggestions.  I used Prep Agent to help with test prep, he was great at real work explanations.  

I would be careful as a part time agent.  Unless you are working with investors or family/friends it is going to be hard to market your self as part time.  Real estate is not a house business, it's a people business.  They want to make sure you are giving them 100% focus and are available when they are.  

Good luck with your pursuit! 

Inspect what you expect.  The time to save $400 is not when you are buying a house.  This is not the time to cut corners or save money.  The buyer should hire an inspector (with your direction) that they trust.

Does anyone have a contract they use when working with individual investors.  I'm sure hard money lenders have their own contracts but I'm referring to me working with an individual that is interested in investing on a fix and flip.  Any advice or suggestions would be greatly appreciated. 

Agreed with interviewing different brokerages.  But do not focus solely on the "split".  Too many people focus on the money and neglect to see how the brokerage is going to support and train you.  There is more than just money involved.  It might be hard to tell during COVID but see what the culture of the office is like, what kind of community involvement is there, what is the reputation in the industry as well as online.  

You are new so you will be doing a lot of continuing ed.  Make sure the broker has support for that and a good mentoring program.  As mentioned above, tell everyone you know (without being annoying) that you are in real estate.  It's not who you know but who they know that matters.  

On a personal note please make sure you are responsive and organized.  It is so frustrating to deal with lazy agents these days. It makes the process more frustrating when  you can't get the documents you need or get any response from the other agent.  Also, don't be afraid to pick up the phone and talk to the other agent.  It's EXTREAMLY important to develop a good report with the "other side".  It can make all the difference.  

Always remember you are not in the house business, you are in the people business.  You are a realtor but also an advisor, educator, counselor and phycologist, etc.  This business is so much more than just putting a sign in the yard or opening doors.  Good luck with your test and your pursuit of real estate.  

Average for most agents is 1 per month.  I would suggest not comparing to others sales.  There is a very high burn out rate in real estate.  Most get discouraged or realize it’s a lot more work than was expected. 

I crossed my first year mark last month (October).  I had 9 closed transactions, some listings and some buyers.  I was fortunate to make the million dollar club my first year but I can honestly say it’s the hardest work I have ever done.  But that hard work will pay off.  I have 4 closing next month and 3 more in January, so hoping to double sales my sophomore year.

The average incubation period is 6 months for most clients, so if you do the math with 1 per month and 6 moths to work you can see it will take some time and hard work. 

Start networking now, before you get your license. Everyone you know/meet should know you will be in the business.  Remember, it’s not who you know...it’s who they know.  

With CRM's you can have good or cheap, it's hard to find both.  There seems to be some sort of compromise with all of them in one way or another.  I've tried LionDesk, RealOffice360, Zoho and now I'm trying out Streak (it's a gmail addon).  Streak has a little learning curve but a free version which I highly suggest so you can test drive and make sure you're going to use it so you don't waste $30, $50, $100+ per month.

This is a good resource to use: https://crm.org/crmland/best-r...

Just understand, you get what you pay for.  There is no brokerage that will give you 100% commission, like Nathan said, you will be nickel and dimmed to death.  Most will charge for every piece of paper you print, every sign you need, etc.

Usually you can have good or cheap, pick one.  I interviewed 8 brokerages from self managed to full support, there were many reasons I went with a full support brokerage.  

To each their own though.  It's not always about the money.  You need to know there will be support when (not if) there are issues and questions, someone to help with marketing material and if you are going to be a "quantity agent" then $20 for each sign, or a charge for each lockbox is going to have a huge impact on your take home.

Something to keep in mind is you are getting into an industry that could have legal and criminal repercussions if something is not done correctly. Make sure you have an office with a broker willing and able to help you at all times. Not just when it's their time to "work the desk" or return calls in 24hours. Also, if you are with a 100% broker make SURE they provide E&O insurance. If not then that is an additional expense you will have to pay for.