All Forum Posts by: Preston Dean

DO IT. My suggestion to you would be to stay at your 9-5 and then from 5-9 work on real estate, finding clients, working on the side. Then when you have about 6 months reserves you can make the switch into being an agent fulltime. I was a fulltime athletic coordinator and coach &  part time real estate agent for a year. After that year I made the jump into RE fulltime and haven't looked back. It won't be easy but it will be worth it in 5 years!

Quote from @Hammad Ali zanjani:

Hi you all. Passed my pre-licensing exam 3 days ago and now preparing for state and national exam. Im looking to join broker after that. Im in Baltimore near Rosedale. Need suggestion and advice which one is better one to join. Im looking for good mentorship and training and also supportive. If anyone from here had a good experience kindly share it. Need advice Thanks.

congrats on being one step closer! I am brokered with Keller Williams Fort Worth and have nothing but positive things to say about my brokerage. My broker is very active and I know she is one phone call away. KW has a lot of great training opportunities and the support & network is one of the reasons why I have no desire to look elsewhere. Splits are essentially all the same, 80/20 - 70/30 - 75/25 - 85/15 but the support and training is bar-none. 

Quote from @Hal Waters:

I am newly getting into selling real estate and was curious about how a buyer representation agreement truly works... Lets assume I have been working with a buyer and have an active buyer representation contract with them.  How would I know my buyer signed a purchase agreement with another agent while under the contract agreement for me to represent them? Is this more of a good faith contract unless I were to find out they went under contract on a property?

How does that work?

First I would ask your broker if you haven’t already but

just by keeping In communication with your clients you should find out if they “no longer want to see a house” and it might be because they bought something with someone else. Depending on when the contract starts and when your agreement ends they could be on the line to pay your broker the commission outlined in the contract. 
After a few weeks or months you might just have to straight out come and ask them if they bought a house 

Quote from @Hadi Soueidan:

Hi BP Community,  

I'm new to the DFW metroplex, I'm look for knowledgeable realtors in the fixer-upper investing market. Any recommendations?

Thanks,
Hadi

Hi there Hadi,
I am a realtor in the DFW area and am very knowledgeable with investing of many kinds, 
you can email/text me for easier response
817-480-9452
[email protected] 
I look forward to hearing from you!

Quote from @Anup Jung Karki:

Good Afternoon,

I am looking to buy multi family or single family around Irving, Texas for 75% ARV. I am looking for property I can fix and flip/ rent. Also, is there a meet up group I can come and connect.

Thank you.

 I can help you with that. I am a realtor with Keller Williams in the DFW aera. I'll send you a friend request and a PM. 

Quote from @Myeasha Jones:

I’m trying to understand more about

“In any state, a real estate agent must work under the supervision of a licensed broker”

Approaching becoming a licensed real estate agent- 

How do you/ did you approach brokers? Do you only reach out to brokers hiring or big organization like KW or Compass as a newbie?

I’ve searched brokers and I’m not seeing any mentioning of how they “hire” or choose agents, should I be contacting brokers directly about working under them?

Hey Myeasha, great question! It can be confusing from the outside looking in!

Think of having to work at a brokerage, like a licensed science teacher has to work at a school. They can’t practice teaching science unless they are teaching at a school, where they can then teach kids and be supervised (unless you are a home school teacher of course 🤪)

having your real estate license and working at a brokerage is the same thing. You don’t really see places say “now hiring” because technically they are not “hiring” since you are a contract worker and only make a commission. But I guarantee every brokerage will allow you to work there! As they make a % of whatever you bring in. 

hope this helps!

Hi there, I can find you a good realtor in that area! I'll send you a private message

Quote from @Russ Newland:

My wife and I are currently working with a real estate agent to find and purchase a home, and have signed a standard buyers-agency agreement. That said, I have now found an off-market deal that I would like to pursue. Am I bound to use my agent for this deal, or can the seller and I work through it on our own? 

When you signed your buyers representation agreement there should be a portion that says CLIENT OBLIGATIONS - at least in Texas there is - In that portion it outlines what your duties are to your realtor. 

There also is a BROKER FEES section that states the broker will first seek to obtain commissions from the seller. BUT If such persons (the seller) refuse or fail to pay Broker the amount specified, Client (you) will pay Broker the amount specified less any amounts Broker receives trom such persons.

Make sure to read that document you signed thoroughly or the broker that you signed with could come back to you with a small legal case that would then force you to pay the commissions you agreed to  

If I were you I would let your agent know that you have found an off market property so they can proceed to talk with the seller about commissions. Most of the time the seller is willing to pay commissions for off market. 

Quote from @Fili Aguirre:

I've come across homeowners who want to list their home with a real estate agent, im not one. But I could bring them one so that they can list their home. How could I make profit out of this? Would it be legal to charge the agent a ''Referral fee" IF they actually end up listing the home with them?

No it would not be legal to charge a referral fee. You have to be a licensed realtor to receive a referral fee/commissions. At most a realtor is allowed to give a non agent $50 max of monetary value IE gift card. If you are wanting to receive some kind of referral I would take it up with the seller not the realtor

Wahoo! welcome! Instagram was not very effective for me, my business Facebook page has been a lot more efficient. Preston Dean, Realtor. Yet to close a deal from FB leads though

Open Houses have been my best lead gen tool. I've closed 3 homes in 2022 from hosting about 20 open houses. So it seems that about 1 in every 7 I got a client. 

Other than that the other 3/4 of my business in 2022 came from friends/family or referrals