All Forum Posts by: Account Closed

Whoa... you almost spurred on another confused query... good thing you explained what Ozarkian was in the context of your sentence! I almost had to reach for my Bill Gulley translator AGENT Will Barnard again! oops... I summoned him once more. :)

Will, thanks again for the industry knowledge gap translation... and Bill thanks again for the attempt to explain in Ozarkian .. i think ;)

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Here's a great opportunity to exercise a skill that you will commonly need and use when "doing real estate investing!" Step back and assess where you think you want to be in REI and what you know so far. In taking a look at the big picture, where are all the gaps to getting to where you think you want to be. Then consider what your opportunity cost is. 8k less in your pocket means 8k you coulda spent on marketing (if you choose the wholesaler or even off market hunting for houses)... it could mean 8k less that you coulda spent on gas and resources you'll need to find the deals (once you know what you're looking for). that's also 8k less you can spend on getting your license and paying for the gold access to finding all the data you need to help determine clarity in what houses are worth pursuing or not.

You're already on the right path coming to BP... start with the ultimate investor's guide that BP offers for free and spend a good 5 days (full time) learning and interacting w/the group here, THEN spend the next 30 consecutive days practicing and getting feedback as you go from what you've learned!

the easy part is paying 8k to a "guru" and sitting thru a motivational speaker talking RE talk while mingling with the herd and feeling excited about what they're telling you you can do. the hard part (whether you take the guru course or not) will be the same for everyone starting - consistently taking action, searching for deals, running the numbers, networking w/people, rinse and repeat.

you've done the easy part once before... this time you can skip the easy part and do the part that will reap you the rewards if you're consistent.

good luck! the trainer can yell at you and pump you up w/motivation smoke over the next x days at his/her camp... but in the end, you're gonna have to do alllll the work - in the coming weeks and months.

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tick-tock Naa Ama Mills... Friday's coming! are you ready for your training day or have you postponed?? How's it coming along?! So what's the plan for world domination??

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Originally posted by Will Barnard:

Kelvin, I'm not sure I understand your confusion but will take a wack at it. Bill originally stated in his first post a mention about "selling agent" and I believe you thought he as referring to the listing agent. In RE terms, the "selling agent" is the "buyers agent" and the list agent is the agent who reps the seller. A transactional coordinator is neither a list or selling agent, rather a paid party by either the list or selling agent. In fact, both selling agent and list agent likely have their own TC for the transaction.

Thanks for chiming in, Will Barnard. I got confused when I read this from Bill:

#1. I wasn't thinking transactional agent = transactional coordinator.

at the time, I didn't connect that transactional agent could also mean transactional coordinator, and I assumed when the listing agent becomes the transactional agent, then T.Coordinator and said transactional agent were two different people (since a t.coordinator does not have to have a re license, but a listing agent becoming a transactional agent would have a RE lic.) HOWEVER, I failed to realize that even if the listing agent became the t.agent, that did not imply that all t.agents require a re lic. just because that particular scenario the listing agent turned transactional agent (t.agent) did.

#2. It never occurred to me that a buyer's agent would be considered the selling agent.

I was still stuck on the seller's agent is known as the listing agent (listing the property for sale) AND since the listing agent was assisting in SELLING the property for the seller, the listing agent would ALSO be known as the SELLING agent. What threw me off was when Bill wrote "(the buyer's agent 'sold' the property, the listing agent presented the offer)" and wondered why he inserted a buyer's agent when there was none to begin with!

haha... ... this all came from the reference to a "transactional broker/agent" and I guess my head was fixed on "transactional coordinator"... or the agent's assistant (non-licensed). THAT alongside with recently taking a closer look at crmls's data fields referencing a listing agent, co-list agent, co-selling agent, and a buyer agent.

anyway, you cleared it alllll up for me when you pointed out that another name for a buyer's agent is a seller's agent. really?? I just learned something new! I woulda NEVER guessed that a buyer's agent would ever be called a seller agent... or would that specifically be "selling agent" and NOT seller agent. i'm intermingling seller and selling. I just figured a buyer's agent would remain and only be called a buyer agent PERIOD.

thanks again for going the rounds with me Bill Gulley & Will! and again, I apologize OP and readers for hijacking this thread!!

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Originally posted by Will Barnard:

As Joel pointed out, this is not a nationwide occurance like the bubble. Just to be clear, major price increases occured from 2004-2006, 07 was the peak in most areas and prices started to drop. So if you were comparing the rise, it would be more accurate to use one of the starting years rather than the end year in my opinion.

On to the question, I believe in some areas such as many parts of CA, we will see price appreciation fairly rapidly in the FHA lloan limits and if you check where all the hedge funds are currently buying, you can expect these increases in most of tjose areas. Then, when they decide to cash out (likely 2015), they will do so with the help of wall street and have every sucker buying into these at peak, then . . . .crash. I think 2015 and beyond will be like 2007-2009 (the crash) only for slightly different reasons.

The "talk" and the rise have just started, so as long as you get out before the crash, no worries.

hey will.. u wouldn't happen to know where n how I can find the source that can shed some light on who n how much inventory has been taken in by the hedge funds in the last x period would u? would b interesting to see where they r buying..

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Originally posted by Tom C.:

I wouldn't be surprised if we saw 5 years of deflation. Q1 will start a national recession caused by the fiscal cliff aka broad tax increase. I also see some fiscal discipline creeping into congress, so spending should drop from their all-time highs. So in short, the private sector will have less to spend (taxed away) and the public sector will be shamed into spending less (although still too much). It seems odd to assume that assets values can rise much with a net negative to revenue across the economy. Unlike in 2007, the fed has fired all their bullets and the effect has been greatly blunted, recently. The only positive I see is that home building picked up through 2012. If that continues in spite of the economic malaise, I would be surprised. I am no economist, but I am an informed market observer who recently stayed in a Holiday Inn Express.

I know this is dated, but In hindsight, it appears Obama and his admin have a different idea n plan .. especially contrary to this quote:

it'd b nice to see some fiscal discipline n even spending drop from their all time highs!

bummer bout the continual printing of money. whoevers next in line for pres is gonna have a huge mess to deal with..

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Originally posted by Bill Gulley:

The listing agent represents the seller. If a buyer comes and that buyer is not represented by another agent, as a buyer's agent, then the listing agent becomes a transactional broker/agent to facilitate the transaction, but they do not represent that buyer. There are special rules that then apply to a transactional broker/agent.

The buyer's agent is the selling agent, the listing agent is the listing agent unless they also act as a transactional agent and is the selling agent as well. (The buyer's agent "sold" the property, the listing agent presented the offer)

Listing are most always done on a co-brokerage basis, but doesn't have to be, if a lsiting is placed in the MLS system it will be on a co-brokerage basiss, meaning that any listing sets aside a commission to any member in the MLS or licensened agent or part of the total fee charged. How that is done is up to the local Board of Realtors in that MLS system with participating brokers. When the listing agent becomes a transactional agent, there is no buyer's agent to split fees or commissions with, so they get the total amount agreed to in the listing agreement.

Hope that cleared it up... :)

thanks Bill... I think that makes sense. as for agent roles that I've seen:

1. buyer agent
2. listing agent
3. co-listing agent
4. co-selling agent

this is per the search fields i've seen, but didn't realize there was such distinction.

so, from my understanding of what you wrote:

the buyer agent can be the co-selling agent if the listing agent becomes the transactional broker/agent... hmm.. if i were to use names, it might help.

original listing agent: Bill Gulley
--> no buyer agent to rep the buyer
listing agent becomes a transactional agent: Bill Gulley
WHO is the co-selling agent? someone from the listing office like Will Barnard?

to summarize, Bill Gulley is both listing agent and transactional agent
AND Will Barnard comes into the mix representing as the buyer agent and co-selling agent for the unrepresented buyer?

sorry to hijack this thread... maybe i should take this to pm (or a spearate thread or talk to someone @ a brokerage) if this doesn't get resolved!!

thanks for your patience and help!

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I spun many a wheel taking the shotgun approach you just described ... felt productive at the time but got nowhere quickly when I compared it to those who chose one thing at a time. hopefully when you take a step back, you'll have the clarity to see what your team is most suited for and has the most leverage to begin with.

good luck!!

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Originally posted by Bill Gulley:

Not really, you can work on a flat fee basis, but most transactional agent/brokers are on commission. 6% is the usual commission and the transactional agent/broker is usually the listing agent and becomes the selling agent. In such transactions special rules apply as to giving advice and representation. Unless a property is listed by you, you won't be a transactional agent/broker, if a property is not listed, you'll need to get a listing agreement for commissions or you can represent a buyer and have the buyer pay a commission or a fee for your services. You need to check with your broker before you take on a client in a transactional agency relationship IMO. Good luck.

Hi Bill Gulley... i know this is a bit old, but i found what you said:

to be a li'l confusing to me. I've also seen this search entry field when looking up a property... isn't the selling agent the same as the listing agent?? how could they be different if they are not a co-listing agent?

thanks in advance for your input!

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Originally posted by Brandon Turner:

Hey Sean Brennan I listened to a guy on a podcast today who's big thing was to look at it statistically. I like thinking in these terms (I'm a math nerd), though there are obvious extra circumstances that could affect these numbers. But this is what his point was:

He says the typical response rate on a direct mail is 1% (which is about right, I think) and you should be able to close 1 out of every 25 leads (not sure how that number compares... thoughts?) so statistically, you would need roughly 2500 mailers to close one deal (on average.) If it cost $2,000 to send those mailers, then you're sitting at about a $5000 profit per deal. Do one of those each month, you've got a $60k job. Not too shabby.

Thoughts?

( Jon Klaus does that line up with your thinking?)

Heya, Brandon Turner! I believe that's exactly the formula that @j scott started his career with and continues to do so - working the numbers backwards. hmmm... wonder why the @mention didn't light him up.

I've worked #s backwards that way in other areas (cold calling for a diff industry), and the results play out. 'course, the trick is to know what #s work for you and your method/approach to whatever the objective you're trying to achieve! :)

i'm 100% sure that following some type of tested method consistently will yield a range of predictable results.

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All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 171 times.

Post: Real Estate Transaction Coordinator?

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Post: HELP!!!Real Estate Office Formation Advice

Post: Real Estate Transaction Coordinator?

Post: Is 2013 a repeat of 2007??

Post: Is 2013 a repeat of 2007??

Post: Real Estate Transaction Coordinator?

Post: HELP!!!Real Estate Office Formation Advice

Post: Real Estate Transaction Coordinator?

Post: $5k in 30 days!