All Forum Posts by: Zach Sikes

@Rick Santasiere 

Yes there are! I know a KW maps coach that teaches the class on VA's and has used them for the last 5 years. He's actually in the Philippines now meeting with his team and recruiting more VA's. You can try sites like onlinejobs.ph (one of my favorites). If it's your first time hiring, some people have luck with myoutdesk.com.

@Dany Namou

It sounds like a referral agreement then. Finding  buyer for a property sounds like a real estate activity to me. 

@Dany Namou

I'm not sure about Michigan, as my expertise is Okkahoma only. However:

Definition of broker: 

1. a person who functions as an intermediary between two or more parties in negotiating agreements, bargains, or the like.

Without more information, it seems like you would be acting like a buyer's agent. In our state, licensees can only be paid for real estate activities through their broker.  As far as the splits go, however, that's between you and your broker. I would look at it like receiving a referral fee from an out of state broker. 

Our entire team "lead gens" 2-3 hours a day, 5 days a week. Referrals, open house contacts, FSBO, Expired, sign calls, internet leads, etc. You can help fill a need if you uncover what the "leads" need is.

@Jasen Pyles

Yes, check out charlesbarnes.com for your online class.  There is a 90 hour requirement, and I believe once the class is passed you have 90 days to pass the state exam, although I would need to double check that.  I believe you can take examinations outside of OK, and you'll have to call PSI (https://www.ok.gov/OREC/Information_for_Obtaining_a_License/index.html#arrangements phone number is here, won't let me post on BP) for testing locations.  From my understanding you can go ahead and acquire your license and hold it with an in state broker before you make it in.

@Jasen Pyles

Check out orec.ok.gov and look at non resident real estate applications! I'd be happy to discuss further with you if interested. 

@Chris Sullens

2% rule is pretty darn hard to achieve here without putting in some serious work.  Do you have your goals clearly identified?  The "What" comes before the "how".  Once we know "what" you want to achieve, we can build the plan for "how".  

Are you going to be pulling any money out of your rental portfolio? 

Are you going to be putting all of the money back in?

Is your aim cash flow or increasing net worth?

What strengths do you currently have?

@Chris Bingham

We have pretty in depth process, and our listing coordinator works in conjunction with our listing agent to ensure it all gets done. 

I will tell you, though, the fundamentals are the most important.  

• Take professional photography on every property (with the exception of vacant investment properties that need lots of work).
• Work to ensure you have good relationships with other agents.  In our market, 4 out of 5 sales are cooperative sales.
  
• Be responsive and reachable.  When potential buyers or agents inquire about the property, make it extremely easy to get information and/or to show the property.
• Probably the most important aspect, and the hardest to do, is price.  Make sure you price the property correctly.  A lot of agents, especially newer agents, want to be  "hero" and get more for a property than the market will bear.  You can't trick the market - I've tried. A lot. The market can reject you though, if you price too high.  Once the market has rejected you for 30, 60, or 90 days and you finally adjust the price, there's an * next to your price.  It's finally the "market price", but now its been on the market for a while which is a sign of market rejection. If you would have started at that price, you could have sold it because there wouldn't have been a sign of market rejection. The only way to overcome the flag of market rejection is drop below market price, effectively getting your client below market value for their property.  
  • The moral of the price story - you can't beat the market, but the market can beat you.  Always check your ego.
• There are a ton of other ways to pick up business of off a listing - sign calls, open houses, door knocking the neighborhood, landing pages, ppc, direct mail, etc.  I'd recommend examining what would work best for you, and focus on becoming an expert in one strategy.   It's extremely easy to spread yourself too thin.

All three, with the most important being C - without C, you don't deserve A or B.

@Ryan Garza

Especially for your first few properties, find an agent to represent you instead of the seller! It will save you a ton of money in the long run.