Thinking 'bout being a realtor

bearmtnmartin wrote: Realtors are a dying breed. We bought and sold our last two homes without one. Everyone has an internet connection now and you can look at all the available offerings without a realtor pressuring you to buy the one that will make him the most money....

I have wondered this also. There seems to be little a realtor can do that cannot 90% be done on the internet. With a properly setup web selling site, I could certainly see realtors becoming mostly extinct.

Of course... it might be hard to justify 6% of a $500,000 house for a web listing... when that kind of money is involved the old school some times does not give it up so easily.

Remember only members of The National Association of Realtors (NAR), are Realtors... How are they different from Real Estate Agents? Well of course, it is because they are members of the NAR.... argh!

Tom Hopkins - Motivational Speaker. Committed to working every single day for 2 years to become a millionaire. (So-Cal market in the 1970's helped).

Every day. Every week. Not one day off.

Local Coldwell real estate lady is always at her office by my house. Her yellow Corvette is always in the lot.

bearmtnmartin wrote: Realtors are a dying breed. We bought and sold our last two homes without one.

In 1987 I bought my first house from a sweet older couple. FSBO - all went smooth.

In 1999 I tried to also sell it on my own but ran out of time as my new house was finished and my income couldn't carry 2 mortgages. I negotiated the commission down and the newer realtor guy quickly brought a slew of buyers through. House quickly sold.

aircooled wrote:

bearmtnmartin wrote: Realtors are a dying breed. We bought and sold our last two homes without one. Everyone has an internet connection now and you can look at all the available offerings without a realtor pressuring you to buy the one that will make him the most money....

I have wondered this also. There seems to be little a realtor can do that cannot 90% be done on the internet. With a properly setup web selling site, I could certainly see realtors becoming mostly extinct. Of course... it might be hard to justify 6% of a $500,000 house for a web listing... when that kind of money is involved the old school some times does not give it up so easily. Remember only members of The National Association of Realtors (NAR), are Realtors... How are they different from Real Estate Agents? Well of course, it is because they are members of the NAR.... argh!

Who do you think lists properties on websites? Only licensed real estate agents and lawyers are technically allowed to represent someone else in a contract for real property.

They are not a dying breed. They are a changing breed.

I used to wear an ugly gold jacket.

The one question that hasn't been asked... Can you sell? If you can't, you'll just be another overpriced lazy hobbiest (like so many of them). The ones who can REALLY sell are the ones who are successful- even in this economy.

The local real estate offices in my area are down most of their staff. Most offices which used to have 25+ agents now have 2-3. The part timers are gone.

But, if you love selling and are willing to work hard, the return (per hour) is very good.

SVreX wrote:

aircooled wrote:

bearmtnmartin wrote: Realtors are a dying breed. We bought and sold our last two homes without one. Everyone has an internet connection now and you can look at all the available offerings without a realtor pressuring you to buy the one that will make him the most money....

I have wondered this also. There seems to be little a realtor can do that cannot 90% be done on the internet. With a properly setup web selling site, I could certainly see realtors becoming mostly extinct. Of course... it might be hard to justify 6% of a $500,000 house for a web listing... when that kind of money is involved the old school some times does not give it up so easily. Remember only members of The National Association of Realtors (NAR), are Realtors... How are they different from Real Estate Agents? Well of course, it is because they are members of the NAR.... argh!

Who do you think lists properties on websites? Only licensed real estate agents and lawyers are technically allowed to represent someone else in a contract for real property. They are not a dying breed. They are a changing breed. I used to wear an ugly gold jacket. The one question that hasn't been asked... Can you sell? If you can't, you'll just be another overpriced lazy hobbiest (like so many of them). The ones who can REALLY sell are the ones who are successful- even in this economy. The local real estate offices in my area are down most of their staff. Most offices which used to have 25+ agents now have 2-3. The part timers are gone. But, if you love selling and are willing to work hard, the return (per hour) is very good.

And that is the trouble with realtors. Purchasing a home should be rational well thought out decision that is not influenced by a realtor who is a good salesman. If it is the right home at the right price, a buyer should be able to make that decision himself.

bearmtnmartin wrote: And that is the trouble with realtors. Purchasing a home should be rational well thought out decision that is not influenced by a realtor who is a good salesman. If it is the right home at the right price, a buyer should be able to make that decision himself.

I would always offer free undercoating and paint protection on any house I sell.

bearmtnmartin wrote: And that is the trouble with realtors. Purchasing a home should be rational well thought out decision that is not influenced by a realtor who is a good salesman. If it is the right home at the right price, a buyer should be able to make that decision himself.

With all due respect, in the nicest way I can say it, that's a load of crap.

Men don't buy homes. Women do. If men buy homes, they are buying them for women. Occasionally men buy garages with a house attached.

Anyone who has ever been successful in real estate knows that there is absolutely nothing logical about buying a home. It's completely emotional.

Being a good salesman doesn't mean being a shady salesman, or a pushy salesman. It means understanding that the buyer will ultimately buy from someone based on an emotional decision. If you sit back and fail to sell, they will take their buying dollars to the next salesman, and you will go broke showing houses for free.

That doesn't mean you don't offer good quality for your customer, or push them into something that is not right for them. Understanding all of the facets is what makes a good salesman.

BTW- men are at a disadvantage in real estate sales. It's a statistical fact.

Work hard. Learn your customer. Learn your sellers. Sell well. You can do well. But don't expect it to be a cushy ride.

I know houses much better than 99% of all realtors. If real estate sales were about logic and rational thought, I'd be a wealthy man. The reason I am no longer a real estate salesman is because I didn't know how to sell well.

SVreX wrote:

bearmtnmartin wrote: And that is the trouble with realtors. Purchasing a home should be rational well thought out decision that is not influenced by a realtor who is a good salesman. If it is the right home at the right price, a buyer should be able to make that decision himself.

With all due respect, in the nicest way I can say it, that's a load of crap. Men don't buy homes. Women do. If men buy homes, they are buying them for women. Occasionally men buy garages with a house attached. Anyone who has ever been successful in real estate knows that there is absolutely nothing logical about buying a home. It's completely emotional. Being a good salesman doesn't mean being a shady salesman, or a pushy salesman. It means understanding that the buyer will ultimately buy from someone based on an emotional decision. If you sit back and fail to sell, they will take their buying dollars to the next salesman, and you will go broke showing houses for free. That doesn't mean you don't offer good quality for your customer, or push them into something that is not right for them. Understanding all of the facets is what makes a good salesman. BTW- men are at a disadvantage in real estate sales. It's a statistical fact. Work hard. Learn your customer. Learn your sellers. Sell well. You can do well. But don't expect it to be a cushy ride. I know houses much better than 99% of all realtors. If real estate sales were about logic and rational thought, I'd be a wealthy man. The reason I am no longer a real estate salesman is because I didn't know how to sell well.

Nice rebuttal, and no offence taken!

logdog wrote:

mrjoshm wrote: i am also thinking of leaving auto repair to become a realtor since one of my side projects is rental property.. i'd like to switch from rental property to repairing, improving, and reselling. this thread was super helpful so far. but, does the braintrust know, would it be beneficial for me to get my license if my main goal is just to flip houses?

A few rental properties are also on my to-do list of global domination. I realize I dont have to be a realtor for this but I am sure it wouldnt hurt to have a similar network.

Here is the right answer rentals, I had a boss that ran a failing restaurant. He would bounce checks, and short food shipment guys so much they started making him pay cash. Guess how he stayed in business, rental properties. Buy them up for 0% down and pay someone else to fix them up $2000 or so, and make the money back in a few months rent and then some to pay his mortgage and float the restaurant. Oh and section 8 housing if you can get it.

bearmtnmartin wrote: Nice rebuttal, and no offence taken!

Thank you.

jere wrote:

logdog wrote:

mrjoshm wrote: i am also thinking of leaving auto repair to become a realtor since one of my side projects is rental property.. i'd like to switch from rental property to repairing, improving, and reselling. this thread was super helpful so far. but, does the braintrust know, would it be beneficial for me to get my license if my main goal is just to flip houses?

A few rental properties are also on my to-do list of global domination. I realize I dont have to be a realtor for this but I am sure it wouldnt hurt to have a similar network.

Here is the right answer rentals, I had a boss that ran a failing restaurant. He would bounce checks, and short food shipment guys so much they started making him pay cash. Guess how he stayed in business, rental properties. Buy them up for 0% down and pay someone else to fix them up $2000 or so, and make the money back in a few months rent and then some to pay his mortgage and float the restaurant. Oh and section 8 housing if you can get it.

Not to thread jack or derail the subject but that just blows my mind... having spent years managing restaurants, more often than not the owners are the ones who make that job miserable. Nothing worse than running a place, managing food costs, labor, numbers, seeing your sales increase weekly, make sizeable deposits, and then to suddenly be told by your vendors, that they need cash for deliveries as they've received bad checks or non payment from the owner. Question them about it and you get everything from claimed ignorance to how dare you question me blah blah. It may be your restaurant, but I'm the one standing face to face with them, and keeping your customers coming back.

/rant off. Sorry had to vent

I've dealt with only 6 realtors. As far as I can tell realtors take 3% of the price for not really doing any work at all. They just have the power to be able to unlock the lock box on the front door so I can see the house. I don't like paying them for to essentially provide no value. I think it may be a field that it would be easy to be good in, since, as far as I can tell there are a lot of useless folks in the business.