All Forum Posts by: Jack Bobeck

So the CDC came out and issued a new Eviction Moratorium which postpones evictions for another 60 days due to Covid and the Delta variant. Since it covers 80% of the US and 90% of America, probably a good bet it covers NE Florida, a local hotbed for Covid related stories. 

So is this just more nonsense or is this the beginning of more Eviction Bans? Surely we will see new variants of airborne illnesses. All landlords have a new business partner too, the US Government. It does affect those of us as well that are doing lease option deals somewhat, but anyone concerned about the future Beta and Epsilon and Gamma and Greek alphabet variants coming out?

This might be good news for Flippers with landlords looking to get out of dealing with the government, maybe loosen up some of the inventory. Doubtful that Wall Street will want older homes, they are looking to buy new homes and rent them out. They can afford to have the Government in both front and back pockets, but Mom and Pop, how much more are they going to tolerate? 

@Joe Splitrock All good points, I like the analogies too. But hey, the bottom line here is its sales 101. Our first meeting should not be "Hey I want to be your agent, but only if you sign my "exclusivity agreement"". We have never met, so the first thing out of her mouth, I want to be exclusive with you. Kinda feels like we're moving past the "dating" phase and right into marriage. Thanks, but no thanks. Plenty of other fish in the sea who can work differently.....my point was don't sign anything exclusive until they prove their worth. You don't do that the first date with a gun to your prosepect's head, sign or I'm walking, lol.

@Steve K. I'd welcome 10x the buyers, because 1) they will get burned out and 2) they will say nasty things about the local market. I'd welcome a huge crush of buyers. Some are paying cash, but mortgages are still flying off the shelf, so its all about the deals and now some flippers have bought junk, tried to paint them with lipstick and are dropping their shorts to get stuff sold. So the market is turning a bit in Jax.

@Minna Reid I'd expect no less from a Realtor, lol 

@Theresa Harris Thanks, the point of my post that you don't sign an "exclusivity agreement" in any market, hot or cold. Realtors work with people who do deals and its how Realtors make money. Good luck with rentals, been there, done that, no thanks with the new government in charge of your rent checks. 

@Ronald Allen Barney That is exactly why you do "alterations and repairs" no need for a GC as many are terrible business people. Postcards and phone calls with people interested in selling. Targeting those areas of town that you want to be an expert in, its the best and only way to really build a pipeline of business. Driving for dollars is so true now too, when you are working in one or two areas. You do it daily/weekly and you get to meet people as you walk the neighborhood. People see you as their neighbor, not one of the deadbeats sending them postcards out the wazoo. 

@Cody Lewis That is the problem - This realtor wanted a signed agreement in exchange for a "relationship". I don't sign relationships for 3% of my wealth. You have to EARN a relationship. You bring me deals, I do deals with you. You bring me opportunities and SHOW me you are worth it, I can sign the paper, but NOT BEFORE YOU SHOW ME YOUR VALUE.

@Minna Reid This is exactly the short-sightedness that many agents have when working with "people", its either my way or the highway. Bring us deals, options, its sales 101 you don't get a guaranteed 3% on a deal just because you have a license and can breathe in a mirror. You are a professional, act like one, if you have an investor, sit them down and explain to them what you expect from them and they can expect from you. Its all in how you present yourself to your "prospective clients", but no investor, no client is going to work with an unproven agent who says "sign my paperwork or find someone else". 

@Ronald Allen Barney - I used to be married to a Realtor, I can pull MLS data, scrub it and do exactly what you describe, on my own. But that is where some of the "realtor" value comes into play. I'm not a Realtor, so I don't have access to that MLS data, but there are 11,000 in my area, so chances are good someone will want to work with me, in exchange for the "homes" data in an area.

@Jon Thompson Its sales, you bring me a deal, I will go with you on the deal. If I find the deal, I can choose to use you or not, why would I pay someone 3% when I did all the leg work? Bring me deals to EARN your 3%, too many agents feel like they are entitled to a payment for you to be in real estate. 

@Nick Macklin - Well said - Bring me the deal, I can work with you at that time. 

Wow, so sorry for all the victims, but hopefully this will help others in the future. Also by the way they are partnering with PMG, Private Money Group of late for assisting with loans. PMG already has a few bad threads out there, so hopefully people will see PMG and Xpress together and RUN.......

@Sheri Cone I would get on BP and do some other research on your own for best investment insurance companies. Rates have doubled in FL because of all the scammers. We pay the price for the BS of South Florida up here in North Florida. I have tried to use agencies, but most are lazy that I worked with, rarely get back to you and then find all sorts of "problems" with your properties to try and get you to pay up for some other insurance. Do your own legwork, you will learn more and be better off for it. 

@Cristina Cantos Hey Jack from Jacksonville. There are lots of MFH on the MLS right now. Some of it is crazy pricing, but hey, more there than I have seen in a few months.

Is it appropriate to play the world's tiniest violin? 

So I had a local agent, a young one that has not seen a downturn in the market, reach out to me and ask me what I was looking for in a house. I have been approved by my mortgage person for up to a certain amount, and I told her. She then said she wanted for me to be "exclusive" with only her. She would be my "buyers agent".

I told her there were 11,000 realtors in the NE FL area and I am loyal to the deals they bring me. I am not loyal to the agent, cause anyone can setup an MLS Search (MOST LAZY AGENTS DO THIS) and think this is the *VALUE* an investor or SFH buyer needs in this market. I was married to a Realtor for 14 years, so I know what to expect and there is way more to adding value than just an MLS search. I explained that since ours was a new relationship, I don't really know what "value" she will bring me, I suggested she bring me some deals first before I look to give her my business.

Don't fall into the trap of "being exclusive" with only 1 agent. Instead tell the agent, I will be "exclusive with you and the DEALS you bring me". After all, what good is a sales person if they cannot bring you a deal? Many of these Realtors NEED to go through a downturn to appreciate having "a bird in the hand, versus two in the bushes". So don't settle on agents asking for exclusivity. Have them bring you deals to warrant giving them more and more of your business. 

Just wanted to share with others on the Nashville board about some of the great things happening in the local Nashville community:

A recent report on Emerging Trends in Real Estate 2021 ranked Nashville:

A link to the article can be found here.