All Forum Posts by: Oscar Pinto

Congrats on all you have achieved so far. 

1. Selling to save money and live with your parents does come at a cost. You and your family determine the value though. What is it worth to go from living in your own home to living with your parents. What is the cost to your parents to live you? Is there a burden on them? 

Imo, you bought the house, made some money because of equity and upgrades (assuming), so enjoy it. Your biggest "liability" made you $80k in just two years! Think about that for a minute. 

2. I am almost certain the irs needs to to live there for just 2 of the past 5 years, check their website. 

Lastly, you saved money to buy the foreclosure, so save money and buy a duplex, triplex, or fourplex. I don't believe you need to let go of that home to do this. 

In facebook I believe you can filter by profession and interest so look into that. When I put home ads on FB I eliminate anyone who's profession is real estate. 

Also, consider your ad may be eliminating prospects. Do you lease / sell other properties? If so maybe you should use FB to generate prospects and if one fits your listing then hurray, if not sell them something else, if that's what you do. I'm not sure if you're a broker or an owner with one office to lease/sell. 

The first call is to determine timing and motivation. After that is determined YOU decide if you want to meet with them. 

"are you moving in 2-4 months? Do you own or rent? Are you working with agents? Etc..." 

Getting them to the office "would like me to email you homes that fit your needs INCLUDING off-market HOT deals?.. Great! When can we meet?" 

Of course you will receive some objections, so learn how to handle them. Some people won't object to any of this and will meet with no problem. 

After they agree to meet and set the appointment then ask about their price range and if they have been pre-approved.

In the contract it also says what the agent has to do, I assuming your leaving because the agent didn't perform some duty. Bring that up to the agent and MOST LIKELY the agent will just let you walk, they don't like a fight. Mention "so to get out of this do I have to contact the Department of Real Estate?" but in a nice not-knowing way. That should give the agent enough incentive to let you walk, no need for a fight. 

There are a few stages to be  a realtor. 

1. Pass the exam, that seems to be your current stage. So pick a school, study and pass your state exam. This is the easiest part of your career. 

2. Pick a broker. If I weree you I would interview to be on Team instead of a solo agent in a Brokerage. You'll learn so much so fast I believe. If you go solo get a broker with $0 monthly fees since you won't be making any money for 3-6 months. You'll just be spending spending spending. I'm talking about business cards, MLS dues, clothes, Gas, car wear and tear, supra key dues. You'd probably get a website and need idx, the list goes on. There are so many companies out there looking for ways to get realtors to buy the "magic" bullet.

3. Picking your niche, is it first time buyers, move up buyers, luxury, commercial, it goes on. What area are you going to work? Now you have to preview property every day, like 4 a day. 

4. Lead generation, whole other subject

So good luck. 

Go for it! Best small business opportunity in the world. My advice is to be patient. Any agent who is doing well sucked in the beginning of their career, beginning means first two years, sucked means making very little money for the time invested. Most agents quit within 12 months because it's not the get rich quick scheme they were hoping for. Plus add all the nay sayers, like their spouse, friends, family, all the people that SHOULD support you and they quit. 

It is unfortunate realtors are compared to big tobacco. And why shouldn't agents discuss buyer's commission with their buyers? And how many times have lawyers, disruptors, technology, etc. gone after agent's commissions? The internet has been around for 20 years and wasn't that supposed to be it for brokers? What happened? Agents adapted, business models were altered AND commissions remained. 

Next disruptor is AI, let's see what happens. 

 Hi Corey, welcome to the game. Here's what I would do if I were you :

1. Be grateful I found this game

2. Find my passion and my Why. I'd read books on this first. This is what gets me up in the morning at 5 am to go get my teeth kicked in. What I mean is this business is full of rejection, bad deals, "learning opportunities", and discouragement. Your Why will push you through the point where you are about to quit. 

On to the technical side (which is the simple part) 

3. Become coachable, be a student of your craft, and seek out to help for FREE. I mean find a person who is doing well and offer to help, at no cost to them. 

4. Example, I am an agent, my passion is negotiating, so I would find another agent and offer to help them. Now since I am beginning ANYONE who is active would be do, they don't even have to that successful, just more successful than I am today. You'll learn when to move on to the next "mentor" 

Get to that stage and your next question will be different. 

Good luck. 

I, personally, would not work with him. Not because if what he is looking for but just how he asked it. He seems very demanding and as if I am his employee. 

By cash do you mean repairs too? 

Every inspection finds something, even on the new construction homes. So buyers usually ask for repairs and/or money. Learn how to set the buyers up before the inspection. Prepare them for the findings.