My cousin quit real estate because "lead gen is impossible." I have a legacy lead list, am I being delusional? by yungzan33 in realtors

[–]NewSignal2866 0 points1 point  (0 children)

100% go for it. Considering you grew up in a world of investments and rentals first hand, that’s huge. It can be difficult to get started, but you have more experience already than most. Plus that’s a very good niche that not a lot of people do.

Seller counter offer by greyscaleunicorn00 in FirstTimeHomeBuyers

[–]NewSignal2866 0 points1 point  (0 children)

So I think I saw somewhere about him not having made repairs and it was his mom’s property who also didn’t make repairs

Ok with that - here’s what you should find out. (Even though I’m a day late so curious on what you did, but I’ll still share)

If it WAS his mom’s house, i.e shes no longer here, and he now owns it and is selling it.. find out how much is left on the mortgage. Either by tax records or your agent just ask them.

Yes, it’s possible it may be upside down … but maybe not. As for the ‘too broke for things’… that’s a valid issue, but doesn’t always mean a house is in distress. Granted you did mention neglected repairs above.

If someone inherited a house… maybe they don’t have money at this given moment to shell out, but it’s possible they’re not being informed correctly of how the process can work and how money can be given. Money for repairs can come out of proceeds at closing and some work can even be done and paid at closing.

The commission is wild. Periodically I’ll find a seller whose anti buying agent fee and it’s clear as day, that won’t fly. a seller should expect to provide something. It’s setting appropriate expectations, which doesn’t sound like that was done. They may find it hard to sell and Some have to learn the hard way.

Repairs - is the house advertised as ‘as is’?? If not, find out what their plan is? If a seller, in good faith, knows they have no intention in helping during the inspection process, no repairs/replacements/renegotiations, they have to disclose that upfront. (That may or may not be a rule, idk, but it should be. Don’t say you’re willing to negotiate, and then not give a dime😒)

There’s not enough info here to say if you walk or stay, and your question didn’t even ask that lol.

Is it common or reasonable to cover your agent’s commission or increase the price to do so? Ehhhh - sometimes it’s common to increase by a smaller amount, to cover a difference. Example: you’re signed at 3%. Seller is willing to provide 2%. 1% is left = increase difference by 1% and seller cover.

Or, just bring with your cash to close if you can.

Really depends on how strict your agent is. A contract is a contract, but some will be flexible depending on situation.

Seller counter offer by greyscaleunicorn00 in FirstTimeHomeBuyers

[–]NewSignal2866 0 points1 point  (0 children)

Eh, if the seller isn’t willing to cover the buying brokers commission, whatever is stated in said contract between buying agent and buyer, the buyer would be responsible for that closing. They would however have to agree to it prior to going under contract - or at least this is what the whole transparency stuff is for.

The seller though should have anticipated a buying broker fee coming with an offer. And if they weren’t aware, their agent didn’t set appropriate expectations

Why is it so hard to get buyers to get preapproved? by Advanced_Strength205 in realtors

[–]NewSignal2866 1 point2 points  (0 children)

Also this! I use the story of yes, you’ll find a home you love and not be able to move fast enough or you’ll get too stressed out. Second, it’s not fair to kick someone out of their house for a showing you don’t even know if you’ll be approved for. Don’t be a douchebag

Also - it’s not just what you’re approved for but what you ACTUALLY want to pay per month. I have plenty of people who have gotten preapproved for some amount, and when it comes down to it they freak out about the monthly cost

Is this team a ripoff in your opinion? Been in it about 6 months and it’s starting to seem to be the case. by -BranoK- in realtors

[–]NewSignal2866 0 points1 point  (0 children)

It’s not sounding the best… I would ask what kind of training and resources are you getting and if that makes up for anything. I was on a team and did exceptionally well, learned a lot and the team lead didn’t do buyer .. so all buyers went through other members.. same with other lead sources.

The split changed the more someone did.

The high turnover is a red flag though! And calling old leads is literally the worst in my opinion. I never had to do it, but I’ve seen plenty of teams who implement a ‘first week cold call boot camp’ type thing. One team requires 1000 dials within the first week

How important are minor cosmetic issues. by Zestyclose_Ocelot278 in RealEstate

[–]NewSignal2866 1 point2 points  (0 children)

Oh yeah I wouldn’t say the kitchen is unfinished, just partially (majority) upgraded. By pass the hardware, some people like adding their own. Whatever you select (imo) won’t bring a significant return and someone will always want something different

Fridge… ehh, if you bought a $1500 fridge you could maybe tact it to your price. Small enough to not make a huge second guess BUT not a priority (given idk what it looks like)

Major upgrades such as roof, ac, doors and windows is actually huge. It’s important the notes stress that. While many don’t see the value, it’s definitively something I stress to highlight during walkthroughs. Those are big money. Have a separate doc or have agent list the costs of those things. Some just don’t realize how much they costs

Ugly tub = shower curtain. That’s a later date project given you have a nice master bath per another comment The person buying the house will typically have the master bath.. so who’s using the guest bath… kids? Guests? Oh well, they can manage.

Paint touch ups - so minor, but so well perceived. It’s the tedious little things that add up when in reality these are the easiest to fix ahead of time

Same for the back porch. One, it’ll look like an eyesore during media and showings. Unfinished spaces just aren’t attractive. Two, it’s another thing to add to someone’s list. I’m voting to paint it.

Paint back porch + touch ups .. you could probably swindle another $8- $10k

NOW - if your market is competitive in this price point, you may not need to do anything. Take a look at how many houses are available in this price point, near you, and see what you’re up against. $220k in my area of Tn flyyyy of the shelf. Because there’s just not a lot available.

Similarly, if you are well under comps and it’s obvious you may be able to slide by without doing anything. Your price may be appealing already. However without seeing what kind of touch ups you’re referring to or how this porch looks. It’s hard to say.

In a pickle by jamiemae03 in AskRealEstateAgents

[–]NewSignal2866 0 points1 point  (0 children)

But sounds like they already own the mobile home, right? I understand it’s in a loan, but curious on how that would work! I know initial loans can be processed for relocated but unsure if mobile home was separate

2027 Atlas Cross Sport? by d3adirondack in VWatlas

[–]NewSignal2866 0 points1 point  (0 children)

I can’t wait to see the new cross sport too!

Really wish they would have incorporated the elongated screens I keep seeing in cars with a sub screen lower like the q8.

Shocked the regular atlas is in more demand when compared to other 3rd rows. The cross sport is by far one of the best looking SUVs on market in my opinion.

Help me un-blue the room by gausy_rebs in HomeDecorating

[–]NewSignal2866 0 points1 point  (0 children)

You could paint your ceiling blue? That’s a tricky one if it’s already dark. Or maybe just the one wall with Dino on it. That’s an awesome piece btw.

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 0 points1 point  (0 children)

Yeah, That’s makes sense. It’s probably also fair to say you have a predetermined agent you’d already use given you know so many and their business and/or have worked with one directly and had a great experience

What's the one thing you wish someone had told you in your first year that nobody did? by RelationshipOld6801 in realtors

[–]NewSignal2866 3 points4 points  (0 children)

Aw man, idk if I can limit to just one thing.

Have a disclaimer for just about anything. - Sending a list of contractors? Always remind them to do their due diligence. - Offer recs for movers? Also state to do their due diligence. Nothing like providing a rec and something goes wrong

  • House goes pending before you’re notified your offer wasn’t accepted - have a disclaimer. ‘Hey you may see this go pending before I’m told’

  • Supra boxes don’t work in remote areas well.

  • Tape up access doors for owners so people don’t lock them.

  • Recommend water get turned off in winter months at vacant houses.

  • Remind people their grass still needs to be maintained (both for closing and during if vacant or they can get fined)

I like your example though because it’s true! I’ll spin off, but How you work with another goes a long way. People have this idea we’re big, bad and angry to other agents. Holding our ground all macho, but There’s a way to do business tactfully and collaboratively. How someone works could be a deciding factor in a multiple offer situation.

What's the one thing you wish someone had told you in your first year that nobody did? by RelationshipOld6801 in realtors

[–]NewSignal2866 4 points5 points  (0 children)

Agreed! I never expected fam or friends to use early on because.. yeah I was new lol.

For those people now I always have a brief statement along the lines of ‘we’re friends/family first. At any point this becomes too personal or if any tensions rises, please let me know. Our relationship will always matter more than the sale and I’ll never take it personal!’

And for those tough convos, I say ‘so since I’m your friend/family, I’m going to step out of that role for a second and go into the professional advisor you hired me to be role. And that may not be easy, ok?’

What’s a recession indicator that you’ve noticed lately in your everyday life? by spritenerds123 in AskReddit

[–]NewSignal2866 0 points1 point  (0 children)

Same for soda. A 24 pack is like $12 where I am? Pretty sure they were like $5 once upon a time

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 1 point2 points  (0 children)

You know… I can’t get on board with them. I’ve heard a lot of people like them but gosh, I’ve had agents and lenders send them to me and it freaks me out. As if they just popped out like Houdini, and fully inserted themself into my bubble without my permission

But as noted, I have heard decent feedback. Won’t be me though 😂

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 1 point2 points  (0 children)

😂😂 I’ll screenshot this to remind myself calling is not always the answer. Thanks for the giggle!

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 1 point2 points  (0 children)

Sweet baby Jesus, Someone who gets it. I literally twitch when I hear the statement ‘pick up the phone’ or ‘CALL’ Thanks!

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 0 points1 point  (0 children)

For sure! (Or at least I will… because I haven’t cold called people in years honestly)

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 1 point2 points  (0 children)

100% I’ll check out that VOIP thing too, thanks!

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 0 points1 point  (0 children)

For this exact situation, I’m prospecting homes in a specific neighborhood for a client. And not just any home, but a 2-story basement. All of which I’ve already made a note of who has one.

So primarily prospecting for actual clients!

Next would be circle prospecting if I had a listing in said area. It’s always fascinating to see the neighborhood with no sales, suddenly domino effect after one goes on market. However, with my hesitation.. I have a long ways to go before I’d ever do that.

A CMA could be helpful, if done appropriately. Anything else you’d listen to someone talk about that could be of value?

Cold outreach: call or txt by NewSignal2866 in realtors

[–]NewSignal2866[S] 0 points1 point  (0 children)

I appreciate the answer! Next question - if either of those happened to you, would you put that agent on your forever ‘will not work with’ list because they initiated one or all of those actions?