All Forum Posts by: Jose L Torres

@Precious Thompson if you are doing a good job understanding your client’s needs, it should not be more than 5.

Hope this helps.

@Kenneth Moerschel Ken, Sorry to hear that.  The value of a home is usually tied to the comps on the area as this indicates what the market is willing to pay for similar property in your area.  If you could find some recent sales of homes that are more in line with what you feel the value of your home is; I would suggest you reach out to your inspector and provide him that information and have him/her re-assess. It is worth the shot.

Best of luck!

@Larry Flanagan Hi Larry, If what you expect your agents to do is the three P's (Put a sign on the lawn, Put the listing on MLS, and Pray someone makes an offer), then yes, I guess you should ask for a discount.

The legalities of Real Estate investing and contracts vary from State to State. No two deals are the same. Getting a proper listing setup in MLS is not a 20 - 30 minute process.  It is more like a couple of hours process when done properly. Effectively marketing your property to sell also takes time and money. When I sell property I am selling it twice.  Once to the general public and the other to the other to agents out there (in and out of state) to bring their buyers to my clients.

Doing a volume of homes with the same Realtor does not mean it takes that person any less time to deal with each property and market each property to help you get the most out of your investment.

Remember, in the absence of value, the only thing that is left is price. A good agent will be a partner to you and will help you expedite and simplify the process of selling those homes so you can focus on your primary and best use, which is finding the next investment property to buy.

Hope this helps you. 

@Kenneth Moerschel Hi Ken,  The answer is it depends on the size of the home and the type of inspection being performed. If you are doing a basic inspection it will take less time, than if you add a 4 point inspection to that and a mitigation inspection on top of that.  Time on the property may run from 2 - 6 hours depending on the size of the home. Some inspection companies have software that they use to document their findings as they are doing the inspection which helps them save time when writing the report.

The written report usually takes anywhere from next day to 3 business days after the actual inspection is completed.  This is usually driven by how busy the Inspector is with his inspections and reports.

A good inspector will crawl all over the place to make sure he has a good understanding of what is the condition of the home and its systems. They take their job seriously as they know you, your bank and your insurance company are relying on the report to make a significant financial decision.

Hope this helps!

@Mark Miles without having all the details, this situation creates issues for you no matter who is at fault.

You usually have a limited number of days to schedule and complete your inspection. It is the buyers responsibility to make sure this happens.  Your agent should be supporting you on this.

If the inspection was not completed within the stipulated period of time, then you have two options: walk away based on the partial results of the inspection or request an extension on the contract to allow for more time to complete the inspection. If the sellers are not cooperating, this may be an indication that should consider walking away from this deal. 

Make sure you review the terms of your contract. Sometimes you automatically accept the house after the inspection period expires whether you inspected the home or not.  If that is the case you may be on the hook to purchase the property and will have to go through with paying the deposit. 

If you signed a ‘Single Agency’ agreement with your Broker. Then your broker has a fiduciary responsibility to be on your side and should be the one telling you all of the things I listed above

Real estate contracts are time sensitive, and activity has to be completed on a schedule or the contract becomes null and void.

I hope the above helps you.

@Joe Rosenberry Hi Joe!  I am with Keller Williams since August of this past year. I interviewed 10 brokerages before I chose KW. They have training, coaching and tools to meet any need.  You get what you put into it. 

Love the team at my office.  Everybody has a team attitude, everybody is helpful and people are very approachable and collaborative. 

I went with them because they offered a structured approach to help me get moving fast. 

Highly recommend.  If you want to discuss the other firms I interview please feel free to send me a message via messenger.

Best of luck!

@Devin Blount can you service people in Florida?

@NIcholas Hamel If by MLS you mean the real thing (not the .com sites) the answer is no. You are not missing on deals.

The listing price on any property whether residential, commercial or Land is just the “starting price”.  This is designed to trigger a conversation on the property. 

Pricing is a strategic decision not a value decision.  

In most states all property being sold with a Real Estate Agent has to be added to the MLS within a specified period of time ranging from 24 hrs to 5 days depending on your state. You can also get extensions granted for delaying the listing to give time to owner and agents to stage the property, get pictures taken and prepare the listing. Depending on the state you may or may be able to show the property until it is officially listed.

Property sold by owner does not have that limitation as it never makes it to the MLS.

There are deals out there in the MLS, you just need to know where to look and you need to monitor the activity regularly to find those deals when they show up. A good buyers agents can help you set this up with a specific criteria so you automatically informed when those deals come up.

I hope this helps you.

Jose

@Brandon Brown . Brandon, It can become very odd if you are using multiple Realtors to help you find property.  What do you do when several of them show up with the same house?  How do you explain it?  It can become very touchy and there is a good chance the Realtor will not work with you unless they are your exclusive buyer's agent.

All that said, if you work with a good Buyer's Agent, you will not have a need for anyone else.  Your agent should have a discussion with you to ensure he/she is intimately in tune with your needs and wants.  This will allow them to go on a search for property that will meet your specific criteria.  This alone will save you a lot of time searching for property chasing after things on the online websites that do not reflect if things are under contract already or withdrawn, and will lead to where your time is spent looking at the right property (limited number) and focusing on making a decision quickly.

I hope this helps you.

Jose

@Cin Khai Cin - A good Realtor will never let the relationship end when the home is sold.  This is one of the biggest complaints in the industry as a whole and one that Good Realtors are working hard to change.