stevezissou
OT Supporter
Housing market is too far gone.
- Thread starter randomous
- Start date
But there are bad lenders that are kept in business by bad agents who continue to refer them because they go out drinking together on weekends. There are some shitty LO's who can't close a door, but do a good amount of production because they are good at marketing and playing the game with realtors. There are some really good LO's who are bad at marketing and getting business, and they flounder. But agents accuse lenders of "dropping the ball" constantly and 98% of the time it's outside our control. We're all on the same team, trying to get the closing to the table. I've had last minute things pop up that I'm scrambling to try and close, but the agent wants to call and bitch at me for 20 minutes because "they already rented a u-haul!!!" It's got to the point where I've had to cut them off and say "look, I'm trying to get everything fixed, but I can't go to work on the issue if I'm tied up on the phone with you all afternoon. Would you like me to fix it or do you want to keep talking?" Then they hang up and I get it fixed.
Most places are not able to offer different terms to different consumers because of fair housing laws. Someone who is a shit-show file is not given different terms than someone who has a clean file and is not a headache. But my branch is set up differently where I can give better deals to people who are easier to work with. If I give a good deal to someone that's easy to work with, then they are more likely to refer me out to other people in their circle of friends, and that circle is likely to be made up of similarly responsible people who are easy to work with.
I had someone before that was a single mom with 2 different baby-daddies, she worked a full-time job and 2 part time jobs, had pretty rough credit that we needed all kinds of documentation and letters about, and I think we were waiting on her tax refund so she could pay her closing costs. After closing she said "text me a picture of your business card, I got LOTS of friends imma tell about you, I'm gonna hook you up with LOTS of business!" and I was like "please god no."
buy house
pull some permits
have some renderings made of what you can spend more money on
???
~$8,000,000 profit
pull some permits
have some renderings made of what you can spend more money on
???
~$8,000,000 profit
| 8/19/2020 | Sold | $12,000,000 |
| 5/27/2022 | Sold | $20,000,000 (-9.1%)$5,305/sqft |
stevezissou
OT Supporter
First 1 million is the toughestbuy house
pull some permits
have some renderings made of what you can spend more money on
???
~$8,000,000 profit
8/19/2020 Sold $12,000,000
5/27/2022 Sold $20,000,000 (-9.1%)$5,305/sqft
After that EZ STREET
What a beautiful house /viewbuy house
pull some permits
have some renderings made of what you can spend more money on
???
~$8,000,000 profit
8/19/2020 Sold $12,000,000
5/27/2022 Sold $20,000,000 (-9.1%)$5,305/sqft
It's a little hard to imagine that working well since each file is unique in its own way.
Every Friday I send an update out to both agents showing a checklist of all the milestones in a file, the dates each milestone was met, and it shows the upcoming milestones. So they can see what progress has happened and what's left to wrap it all up. I will send these out and have had agents respond to my update email asking what the status is.
Last week we had to push a closing because the seller's HOA hasn't provided any of the condo docs we need for approval. I told the Transaction Coordinator for the listing agent, and then she let me know that the HOA contact person she had given me quit working there 2 days after she gave me his info, and they never told us who the new person is. My processor has been going back and forth with requesting docs needed from insurance agents, a different HOA person, etc., and the Coordinator is asking "please provide me the processor's email so I can make sure it gets done!" So even though our processor was working directly with the people she needed to, this coordinator wanted the processor to give her a list of what items are missing. Then the coordinator would go to the insurance agent and HOA person to let them know what was missing (even though they are already in direct contact with the processor) to let THEM know. And what answer she got from them she was going to relay BACK to the processor. She's creating a log jam that doesn't need to exist just so she can pretend she's helping. Oh, and after she asked for the processor's email, I gave it to her and said "Her name, email, and phone number have been on every update sheet I've been sending for the last 3 weeks..."
My main lender and I might go out for a soccer game or lunch 2-3 times a year.
But a shit lender that is a drinking buddy doesn’t pay my bills.
I’m here to make money, I have enough friends
I know, but not everyone is like you. Next time you have a sales meeting where all the agents need to show up, look around the room at the dipshits who you work with.
Which is why I’m “friends” with about 2 people on a 175 person team lmao
Home-building costs rise at 'unprecedented rate,' Bank of America says. These materials are proving particularly expensive
House prices have been ballistic over the last two years, in part due to a big shortage in materials.
www.marketwatch.com
mistergin
Probably not your father...
It's just to show what this property could look like if you weren't... you
(or me, or anyone else here )
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Sp33dealer
Bully Troll Crew
@DasVWBabe right up your alleybuy house
pull some permits
have some renderings made of what you can spend more money on
???
~$8,000,000 profit
8/19/2020 Sold $12,000,000
5/27/2022 Sold $20,000,000 (-9.1%)$5,305/sqft
what are your guys thoughts on dual agency if you're hiring a listing agent? allow it or not?
agent here.. I don't do it. in some states its not legal, but in mine it is. I choose not to do it except in rental situations as that's fairly cut and dry (review app, accept or deny)
if youre going to do it, make sure you understand not only what your final commission paid would be, but also what support you can expect to receive from your agent should you end up in a dual agency position.. be it price negotiations, inspection items, etc