🏡 Better Homes OFFICIAL real estate bs discussion

1quick

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Yeah, I'd be concerned about the loss of equity of a yacht vs. a home. Plus, the fuel costs in today's world.
The boat market is fucked right now just like everything else, if you bought one a couple years ago you could make a premium right now, my dad bought new smaller yacht in 2016 used it for 5 years several 400-1000 mile trips and sold it last summer for what he paid for it, 2 year wait for a new one right now wait a couple more years for the market to drop out and buy the yacht
 

sickmint79

I Drink Your Milkshake
Mar 2, 2008
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what you want to own right now is property (real estate or otherwise) that in 10 years you can reliably expect to minimally meet inflation, if not exceed it. i would argue one of the best things to score would be nice properties now, in part because the inflation should also eat away the debt so the larger the debt the better in a way, plus you can still borrow cheap.
 

Flyn

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I am SO busy at work right now. It's hard to find time for all the RE customers. Long hours that aren't slowing down. Everyone seems to want to come to Florida. Tomorrow will be another 12 hour day. If you guys want to get in on Florida RE, plan ahead. PM me if you want to get a place down here. You guys are my buds and I will make time (as long as it's not during the NFL playoffs) ? .
 
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frank

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I am SO busy at work right now. It's hard to find time for all the RE customers. Long hours that aren't slowing down. Everyone seems to want to come to Florida. Tomorrow will be another 12 hour day. If you guys want to get in on Florida RE, plan ahead. PM me if you want to get a place down here. You guys are my buds and I will make time (as long as it's not during the NFL playoffs) ? .

Know the feeling, non stop here also, seven closings this month, wrote two contracts which were accepted this afternoon, and time is short with new and existing customers. Down time have been at a low. No afternoon naps the late few weeks.
 
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FirstWorldProblems

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Talk about an ugly kitchen reno. You'd think someone that could afford a $1m home could also afford to paint the brown and pinkish-beige dining room that's wide open to their all-white clean-room inspired kitchen, or buy a sink that's more than 10" wide. Sink budget: $26. Microwave budget: $2,000



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blue-sun

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We stared the process on a refinance a few weeks ago, we finally got all the paperwork done.

Going from a 30 year loan with PMI to one without for 20 years, Mortgage goes up $150/month. Rates are about .5 to .75% lower than our current rate, but we're saving over 140k in interest payments over the next 20 years doing this.

House appraised for roughly 80k more than we paid in May 2020.

Only real upgrades: new kitchen appliances, a couple or new light fixtures, some work in the basement (already finished but added a wood accent wall behind the bar.
 

Intel

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Talk about an ugly kitchen reno. You'd think someone that could afford a $1m home could also afford to paint the brown and pinkish-beige dining room that's wide open to their all-white clean-room inspired kitchen, or buy a sink that's more than 10" wide. Sink budget: $26. Microwave budget: $2,000



d90edbb684fff2a8b413b00bdd0b6fad-uncropped_scaled_within_1536_1152.webp


4deb7f00e20fdea0f0129700914417fe-uncropped_scaled_within_1536_1152.webp
They have a second main sink that is just a prep sink which is usually smaller.
 

Caleb515

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Flyn Flyn frank frank @otherrealtors?

Hope you guys don't mind if I pick your brain a bit, figure this thread may be the best place. I've been interested in real estate for several years now and have looked into getting licensed many many times, but always talk myself out of it. How do you guys like it? Any advice for or against it?

I did sales at a luxury car dealership for a few years and loved it, but left for personal reasons. I now work in marketing / communications and am bored out of my mind doing it. I miss meeting/ interacting with people every day and working with them to find what they want. Also miss the ability to create my own future (that sounds cheesy as fuck, but I liked being commission based and knowing that the harder I work the more reward I will see). I loved doing this with vehicles and always considered real estate the "next step".

My issue is how saturated the market is, it's so easy to get a license and it seems like really anyone can do it (maybe not well, but you know what I mean).

Does it all depend on what agency you work for? Is real estate something you can ease yourself into part-time/ weekends or do you just need to have a safety net of money and dive in?
 

Flyn

Go ahead. I'll catch up.
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The more you put into real estate, the more you get out of it. More time, more money (advertising), more education = more customers and happier customers which equals referrals.

I think it's a good idea to get the GRI (Graduate, Realtor's Institute) designation immediately after getting a license. This is a series of 7 classes that teach what every Realtor should know to get started. I keep adding designations and continuing education when I have time to take them. The extra education has paid off many times.

IMO, you need to have an outgoing personality which it sounds like you do.

Be prepared because, unless you know a lot of people in your area or get lucky, it can take months to get your first closing. Right now, for instance, it's hard to get buyers their contracts because of the competition for homes. Easier to list homes because they sell almost immediately but that requires a successful listing appointment with sellers and it can take time to learn the best methods to accomplish this. Salesmanship experience is a plus. Signing with a company that provides in house classes for new Realtors also helps.

Good luck!
 
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frank

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Never sold real estate before until I lived here in Florida. I have a good sales background and able to work solo which is a plus. As a newer agent, been licensed since April 2021, signed on to a brokerage June 21’ didn’t get going till august as visitors took up my free time. Sold my first home in September 21’ and just closed my 11th deal last Friday.

If you have a good understanding of the sales process ( luxury cars sales is a plus ) and how you would like to be treated when buying a home, take that experience to the customer , communicate, do as you say, research for the customers, pick up your phone and return calls you are doing better then most realtors, also need to have a good demeanor all the time no matter if you viewed 3 houses for the day or 22 for the day with your client, you need to keep your mind in the game and know it will be good at the end with a sale and not get frustrated.

Like Flynn noted, more you put in the more you get out, in my short time im already getting referrals from my past clients which is nice to get, and still picking up more clients to begin their search, currently sending referrals to out of state agents and collecting on not doing anything!

As for schooling I have only taken my license course and nothing else yet, my brokerage offers classes to new agents but was asked not to go due to my background. I will be taking some classes in the next complete of months to learn more on different parts of real estate as in Commerical and other parts of the industry.

When you make the jump, work with good companies that will help you in the process besides your brokerage, find a good lender, title company, attorney , home inspection, etc… as they will make your day to day so much easier.

Best advice is do it …. Market maybe over loaded with realtors but only a small amount actually are top producers, learn the processes, systems, industry and anything else that is related. Nice to have a career where everyday is different, grow your own business or brand, meet all types of people, make money and have the freedom of working when you want.

Biggest regret is I didn’t get into sooner when I was in Chicago, could have made more money then my last career.
 
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Flyn

Go ahead. I'll catch up.
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Frank, you are doing awesome for this being your first year. Congrats!

Caleb, pay attention to the continuing education requirements so they don't hit you with them after the last classes are filled. Online is always the best choice if you don't get into the in person classes or don't have time for them. Watch for the sales that companies offer every month to save a few $$. Plan ahead for when the bigger bills hit like MLS and Realtor dues.

As mentioned, having good vendors to offer customers is important. Title companies, Lenders, inspectors, etc. Start a list and add to it every time you find a company that does a good job. I usually offer my customers several companies so they can choose one or pick one if they ask me to. Any one I send them will be good. That means no Quicken (IMO), LOL.
 

sickmint79

I Drink Your Milkshake
Mar 2, 2008
26,906
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grayslake
Flyn Flyn frank frank @otherrealtors?

Hope you guys don't mind if I pick your brain a bit, figure this thread may be the best place. I've been interested in real estate for several years now and have looked into getting licensed many many times, but always talk myself out of it. How do you guys like it? Any advice for or against it?

I did sales at a luxury car dealership for a few years and loved it, but left for personal reasons. I now work in marketing / communications and am bored out of my mind doing it. I miss meeting/ interacting with people every day and working with them to find what they want. Also miss the ability to create my own future (that sounds cheesy as fuck, but I liked being commission based and knowing that the harder I work the more reward I will see). I loved doing this with vehicles and always considered real estate the "next step".

My issue is how saturated the market is, it's so easy to get a license and it seems like really anyone can do it (maybe not well, but you know what I mean).

Does it all depend on what agency you work for? Is real estate something you can ease yourself into part-time/ weekends or do you just need to have a safety net of money and dive in?
my brotato dirtbikes with some dude who owns a larger agency or something like that. he made it sound like you could pick up some cash even just doing it casually as he said many of the agents seemed simply lazy. i wouldn't worry about the saturation if it's a low barrier to entry market but it's saturated with people who are shitty at their jobs.
 
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FirstWorldProblems

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They have a second main sink that is just a prep sink which is usually smaller.
Oops lol, I missed that, mostly because I wasn't expecting them to put the main sink as far away from the fridge/oven/stove as possible

Still a shit reno considering the money they're trying to get for that house
 

Caleb515

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Flyn / Frank, great information! Much appreciated, really.

I'll definitely look into the GRI and continued education classes as I think that would be really beneficial to making me feel comfortable stepping into a new field. I've got some more homework to do and a lot to think over, but the plan would be to get my license / take whatever classes I need in my spare time while I'm WFH and have the extra time with my current job, then figure the rest out.

I can't add much else to this thread as I'm renting in the city, but me and the fiancé are looking to buy within the next year or two which I'm pretty stoked about.
 
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