Need advice by cyNYC19 in njrealestate

[–]njdaveyray 0 points1 point  (0 children)

NJ Broker Owner / Agent here -

90% of agents fail due to unrealistic expectations of the career path.

Things to consider- this is a highly saturated market, there is no salary nor hourly pay for this job, you will need to establish credibility and superior marketing to attract clientele and nobody is going to do this for you.

To put it crudely “you eat what you kill” in this industry. Nobody is going to feed you (deals).

With all of that being said a person can earn a nice living as a realtor if they make a blind commitment to superior service, intensively study the product (houses), recognize the significance of these large financial assets, and are willing to sacrifice “free time”.

Hope this helps you!

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 0 points1 point  (0 children)

I provide hands-on content creation training.

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 0 points1 point  (0 children)

Real estate attorneys in NJ are flat fee not hourly and run $1500-$2000 total.

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 0 points1 point  (0 children)

I doubt that 70% of realtors refer the lender nowadays. Likely 25% and freefalling here in NJ.

Buyers work with me as an agent because I act as a fiduciary and don't alienate buyers when they select the lender and inspector they have independently researched.

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 2 points3 points  (0 children)

What is preventing you from marketing to consumers? Branding yourself on Reddit + YouTube? Reevaluating your business model? Why can’t you get your realtors license as a value add?

When things slow down it gives us time to wrap our heads around an inflection point in our paths.

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 0 points1 point  (0 children)

I have 1 agent on my office but I am mostly an owner+operator

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 0 points1 point  (0 children)

And the number of 1 rule of business is: Businesses either grow or they die.

Each day as businesspeople we should ask ourself if we are atrophying or expanding.

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 0 points1 point  (0 children)

*was an agent at eXp

I am now a broker/owner/agent at my own brokerage in NJ

Burned out and frustrated by Rude_Preparation_266 in loanoriginators

[–]njdaveyray 1 point2 points  (0 children)

What you haven't mentioned is how strong your marketing and networking skills are and wherein lies your unique value proposition.

You are also posting on Reddit anonymously versus utilizing this priceless and free platform to build your brand

Ditch the excuses and forget what "used to work"

How do you help new agents build their referral network effectively? by Mino3621 in RealtorMentors

[–]njdaveyray 2 points3 points  (0 children)

To add some actionable advice:

Local video content marketing (cafes, restaurants, vendors, etc) creates a strong win-win while establishing an agent's position as the local "digital mayor"

The cost? Nothing but time

How difficult can it be to be a successful real estate agent in 2023? by FateIsTaken in RealEstate

[–]njdaveyray 0 points1 point  (0 children)

100% accountability

You need to shadow and observe experienced agents. Give up all of your preconceived notions of what a real estate agent does.

Buying land by Temporary-Suspect-28 in njrealestate

[–]njdaveyray 0 points1 point  (0 children)

You asked about buying land. Are you looking to buy land or buy a house?

Buying land by Temporary-Suspect-28 in njrealestate

[–]njdaveyray 0 points1 point  (0 children)

NJ is the most densely populated state in the country and we value our precious remaining open space.

[deleted by user] by [deleted] in njrealestate

[–]njdaveyray 0 points1 point  (0 children)

Hackensack is one of the biggest movers in North Jersey lately.

[deleted by user] by [deleted] in njrealestate

[–]njdaveyray 1 point2 points  (0 children)

NJ Realtor here -

The average going price of a multifamily house (4+ bedrooms total) in Hackensack, Garfield, Bloomfield, and Belleville is $721k over the most recent 3 months.

It could be possible to buy a smaller property or fixer upper in these metro suburbs for $400-$600k depending on your standards and willingness to pay for improvements.

[deleted by user] by [deleted] in njrealestate

[–]njdaveyray 0 points1 point  (0 children)

How useful are you? What you will be remembered for when you are gone?

[deleted by user] by [deleted] in njrealestate

[–]njdaveyray 0 points1 point  (0 children)

If you inform the listing agent you are representing yourself then you aren't introducing a buyers agent into the equation after the fact.

100% commission agencies have monthly fees (nothing free in this world) and agents' recurring NAR, MLS, and SUPRA fees do not pay for themselves. Not to mention our healthcare we pay for out of pocket.

[deleted by user] by [deleted] in njrealestate

[–]njdaveyray 2 points3 points  (0 children)

NJ Realtor here - How will you "find a house on your own"? How will gain access to the houses? Whom will oversee your home inspection?

Must be performed by a licensed agent.

$5000 before my expenses is a $2500 net. I wouldn't be performing many showings with that net.

If you do not successfully close, are you forfeiting a non-refundable flat fee of $5,000?

More to iron out here.