All Forum Posts by: Marvin Hernandez

Hi Brandon That is monetizing your contact, that is the company is giving you a kickback. This can be view as illegal depending what the laws are in your country. Also a questing I pose to you is which is key as well, are you a license Real Estate agent or unlicensed, I assume that you are the former since you post this comment. Well if you are licensed in the state, anyone correct me if I am wrong you can do this, but you have to disclose to the person you are referring the company to that you have this type of agreement with the company and that you may or may not be compensated on the transaction. Hope this helps, may be someone else that is seasoned in the business and have dealt with this shed more light. Happy hunting!

Hi Hessa Great thread to make people think. A lot of valuable points. I am newly licensed in Florida but just currently relocated to Georgia so I am working in getting license there. Thank you guys for the book recommendation, I also like Gary Keller’s millionaire real estate agent. Will pick those two books already recommended. In my opinion, others might disagree is that you don’t have to shove down what you do to others, but you can work it in organically in a conversation. I also don’t carry any cards, which has its pros and cons, but I find it to be more profitable to me, although impractical, and here is why, often time when people get your card they would lose it and maybe don’t even care to use it, how many cards have you gotten in your life time? Probably a lot. What I do when I hear some say you know what I want to buy a house in a year or two or I know a friend of mine that is looking to move or whatever it may be I just simply say “what is their contact number”, I don’t give them a card to hand them to their friends, if they are really looking, I found that most people are more likely to give you their number, and to finish I would say “please let them know I will be calling” that way someone they know and trust is telling them about you and it would create a bit of rapport versus some coming in cold. But as the previous posters mention, I think that prospecting is the most important task, firstly for new leads and secondly on the follow up. You must follow up until either they do business with you or they die or you die as Grant Cardone says. Happy hunting!

Hi Cody I too come from a low income family, my parents and I immigrated to the U.S with nothing to our name. My parents are very hardworking individuals that work day in and day out, they didn’t have much but they instill in me honest hard work ethic. They never chased the quick buck. They never thought me how to really make money or accumulate wealth, how could they if they themselves didn’t know how to. But they gave me a great motor that just keeps going I don’t know what quitting is, some might say is a cliche, but you never know until you get hit in the mouth by life, you learn to get up or you don’t. Harsh reality but it is. In my experience I quit my good paying job to become a real estate agent back in 2012. Boy was I lost, had no clue where to begin and where to go. Not making any deals in the whole year my savings quickly ran out, with just $137 bucks left to my name I then went back to the work force and landed a great job, but I was never satisfied, lost my license because I didn’t renew it. That’s one example of life beating at you, life is the greatest of educator for me, but life will beat you if you let it. So now I again quit my good paying job, got my license in Florida in Sept. of 2017, but now life threw me a curve ball, met a great girl which now is my wife and move my behind to Georgia, I am currently working towards obtaining my license in Georgia. Not to get off track, but I wanted to tell you my story so that you know where my advice is coming from. No matter where in your life you are at, just keep moving, don’t stop. Once I get my license I plan to start in residential brokering. This is because I want to learn the ins and out of the business. Get my real estate agent legs under me if you will. But as some of the posters mention earlier, commercial Real Estate is where the great wealth accumulator is, of course if you know how to work it. And I plan to end up there, it takes more time and little bit more work but the rewards are double if not triple, + less competition. Hope this helps! I also commend you for being a teacher, I believe that is a tough job, our country’s educators are heroes and they should be compensated more than they are. Of course there are some bad but there is some great ones. Happy hunting!

Hi Cody Is my opinion that you make yourself available to all,specially if you are just starting out that way you will learn a great deal, meaning you will learn to deal with retail buyers and investors, and know how both sides operate, that way you will gain more traction when it comes down to communicating and negotiating to the best benefit of your client. Once you start getting more experience know with whom you rather specialize in work with those and then pass the others to your realtor friends and get a cut from the deal. But always make yourself available to everyone. Just my two cents. I disagree slightly with Joe in that he mention not to be a part time Real Estate agent, I think it can be done and often time is necessary at the beginning. The only caveat is that when you do get to work whether part time full time whatever do not half as it. Do it all in, and structure your time to maximize it. Remember you are at a disadvantage to those agents that do this full time day in and day out. Happy hunting!

Hi Kareem As James puts it, I would spend the majority of my time In Lead generation. I would not worry at this time in the paper work, which in my opinion is just busyness that keeps you await from your number 1 task, and that is getting clients. I would structure my day where I maximize this task. If you don’t have any clients that you are servicing, then I would spend all day on lead generating and that could be any where in between 10 to 12 hrs depending on your business structure. Another way is to dedicate 6 to 8 hrs in lead generation and the other 4 hrs previewing properties, that way you get to know more of your market and you are not just looking at a screen, you are actually out there. Oh and so it early in the day, I mean start as early as you can, 7 am or 8 am. Don’t stroll in at 10 am, because those swept riser agents have already gotten to them apples before you even got up, but again to each it’s own. My two cents. If you do have clients, don’t service them until after you have your lead generating out the way. For example let’s say you are in your office by 7 45 am, practice in your script for 15 mins, and then turn off every distraction, meaning no posting online, no incoming calls, no chatting it up, not drinking coffee etc, you get the point. Hit those phones for at least 4 hrs non stop preferably for me 6 hrs. And then in the early after noon you start to make your call backs to those missed phone calls, emails etc. Now remember when I said lead generation I mean new leads, not leads that you have been working already, you will do this in the early afternoon. Once you start getting appointments, you will use the late afternoon to early evening for this. Now if you notice, I didn’t mention anything for breakfast, lunch, or dinner. You will have to squeeze these activities in or use them as lead generating act, for example lunch, go where your potential clients hang out and just start to chat them up, they will soon begin to know you and regard you as one of their own people. Again just my two cents. Happy hunting!

Hi Trace This is a great and valid question. It is good to learn so that you have this in your knowledge arsenal ahead of time. But as someone put it earlier in the thread, Don’t over complicate yourself, you will cross that bridge when you get to it. A key for me is to always treat everyone fairly and to always disclose even if you don’t have to by decree or law, oh and get it in writing. And when you get there a good managing broker would help you in that regards. Happy hunting!

Hi BP community Have a couple of questions in dealing with expired listings. 1. Have anyone has any tips or have success story in dealing with expired listings? 2. What are some methods of compiling your list of expired listings, paid or non-paid and your take and recommendations on these? 3. What is your result from expired calling? Ie your rate of return? 4. If you have the address, would be prudent to visit them instead of calling first? Thank you in advance for your advice!

Hi CuRay I am from the Miami FL area and I currently relocated to the Atlanta area, don’t know much about Tampa Real Estate at the moment, but would love to link up in the future if any deals can be made. Welcome to the community, much to learn. Happy hunting!

Hi Christopher In my opinion you do not have to shared this deal with the realtor, if it is the case that this realtor is not the cause of you finding this potential deal and if you don’t have an exclusive agreement as well. Because there can be some problem if you have an agreement in place and then go around that realtor, in such agreements, even if a realtor is not the cause of the deal, they may be entitled to a commission. With that being said, if the realtor was not the procuring cause and no agreement has been made in writing, I would get the realtor to represent me in this deal, remember, this is not only investing in properties but also investing in people, investing in relationships that can last a life time, and to me this would pay more dividends at the end of any day in the future. And as you said, this realtor has been great, so why not reward them? And if commission eats up at your profit potential simply negotiate with the realtor, they understand that dealing with investors is a potential for many deals in the future. Happy hunting!

Hi Chris I really commend you on taking action. That is to me the most important step, always in motion, never stagnant. I see you quoted Grant Cardone, I have just recently learned about him and already read 4 of his books and watch his videos on YouTube. Who else inspires you? Happy hunting!