All Forum Posts by: Mike Schorah

With a full time job where you don’t get home until 6pm. I know that the most successful agents call them first thing in the morning at 8am. So by the time 6pm arrives, most of the competition has already called them.

How difficult is it calling them without a dialer?

The market is going to go up in the next 5 years. Everyone has a timeline of when interest rates are going to change. Interest rates need to drop a certain amount in order for a person to make a transaction right now. Assume it’s 1-2%. Everyone has their own price point. Assume it’s $600,000. If rates dropped 1-2% on a $600,000 home, it would cost a buyer $3,400 a month. Most people are unsure of this. So over the next year, assume interest rates are going to drop in 6 months to a year. If that costs someone $200/mo ($2,400 over 24 months) more if they bought right now, assuming over the next year interest rates are going to drop in 6 months to a year.. Let’s make it $10,000. Let’s just quadruple that thing. A lot of people are sitting on the sideline right now for interest rates to come down. If interest rates drop, a ton of people are going to get in and real estate prices are going to go up a ton if you’re back in bidding wars. Each market has an average over list price of offers they were getting back in 2022 or during COVID times. It’s a seller’s market.

Just cold calling and door knocking?

How can an agent list more million dollar homes?

Edit: LOL. Very funny. So I’m guessing listing a million dollar home is practically the same as listing a $500k home it seems like. (Call, text, door knock until they give you business.)…only difference is price point?!

As soon as you get an offer or 10 minutes before the buyer’s agent shows the property?

Every offer seems to have a 24 hour deadline. If you’re in a situation where you’re getting numerous showings, how do you keep those initial offers interested just in case the later offers don’t pan out.

In my area, rental rates have caught up to market home values. But vacancy rates doubled which wipes out your profit to the point of negative cash flow territory if you have a newer mortgage with a higher rate.

The number of inquiries have gone up exponentially but the number of qualified renters have gone down exponentially. But I’ve dealt with this for a couple of years so I don’t get burned out from it anymore.

Is a high vacancy rate what’s causing negative cash flow across the country?

Like back in the early 2000s. You could promise a certain amount of closing costs then take a few grand off at closing. Or you could promise a certain interest rate then lower the rate by a percentage or two at closing.

What can be done in todays market to underpromise and overdeliver?

Facebook Marketplace is full of drug addicts.

I used to find professionals on Craigslist 

I’ve heard that some agents will meet with potential clients to look at the property then go on a second appointment to discuss price and fill out the paperwork while other agents will give a price and push for the sale on 1 appointment.

What’s your listing process?