All Forum Posts by: Jake Roland

@Andy Thramer It may be different in your market, but whenever I see a listing here that is listed by a flat fee service they almost always end up listing with a Realtor after a few weeks. I'm not sure if it works the same there, but here it is usually a flat fee for the "listing" broker and then still offering a "normal" percentage rate to the buyer's agent. The seller (you) would still have to do most of the daily work (coordinating showings, etc.) I would highly suggest interviewing a couple great agents in your market before you decide to go with a flat fee service. Hiring a great agent should add so much more value to exceed the small difference in commission you would be paying to list with a Realtor vs a flat fee listing service. 

@Bryan McDonald I'm guessing that is not the normal DOM time for your area? Did you listen to your Realtor's pricing suggestions or is it overpriced? How many showings have there been? Also, what is the listing price is it considered "affordable" housing or is it a "luxury" home that is listed much higher than the average median income could afford? 

@Savannah Lewison Have you verified that it could rent for that much? I would research property managers in the area and tell them the address and see what they think it would/could rent for. You would definitely want to verify you could get at $1500/side if that is what you're running the numbers with. Also make sure that within that neighborhood if other landlords or tenants typically pay utilities like water, electricity, etc and then factor that in as well. Good luck!

@Jennifer Bramscher is this a commercial or multi family deal? Would you be paying for electricity and not the tenant?

@Jane S. Our buyer agency agreement has a place to specify what types of properties the agreement applies to. I think you could add what you said to the agreement to further protect your interests.

@John Golden Hey John, I see you're not far from me in Auburn/Opelika. Would love to connect! 

@Anthony Katsonis I believe they are using the cash flow off and reinvesting into the property's improvements. They actually had to increase the down payment by over double what we initially expected because of the bank's heavy stipulations to loan on it.

Appraisal and loan points are what look high to me...

@Perry Ivy I am also curious on this. There is a large lake near me that I have heard the tiny homes on the water there do very well on Airbnb/VRBO. At least $1,000/week during the summer months. But that is lakefront. I wonder how well tiny homes do not near a lake. 

@Account Closed 41% of your clients will be referrals from your sphere of influence, friends, family, coworkers, etc. so really focusing in on that and farming it and reminding those people you are in the business will probably be your greatest marketing tool especially for a part time agent. If you want to get some deals done or just need more business I suggest going after FSBOs. Almost all of my business has been from FSBOs or referrals from my SOI.