Author: Angie Francis

So, you’ve decided to add a real estate license to your investor tool belt! Good for you! But now, as they say, with great power comes great responsibility! And the foremost responsibility is Disclosure of your status as a real estate agent!

There is a lot of confusion about what kind of disclosures are required, when and in what circumstances so let’s clear some of that murky water.

First and foremost, who makes the disclosure requirements?  The Texas Real Estate Commission addresses it in the Texas Real Estate Act and it is further addressed in the National Association of Realtors Code of Ethics and Standards of Practice.  I’ve included the full transcript of both rules at the end of this blog should you want to read further. Continue reading “Rule #1: DISCLOSE” →

Beginning January 1st, some important changes were made to the contracts we use every day.  It’s important to stay abreast of these changes so I will go over a few of the major ones here.

If you have written a 1-4 Family Resale lately you have noticed a big change on the first page.  A new paragraph in Section 4 lays out the disclosure laws so that sales agents now have a promulgated spot to put their notice of agency. There are no excuses for forgetting to disclosure your agency status on your contracts! There is much talk of what prompted this change and the decision to put the disclosure on Page 1 of the contract.  I’d love to hear what you all think spurred the change! Continue reading “Ch Ch Ch Changes.. to the TREC Forms!” →

Would I like to get rich quick? Well, I wouldn’t say no. But is that what drives me to get up and work everyday? No, not in the least.

Dan and I have been investing in real estate for the past 11 years. While we haven’t got a mansion or a big boat to show for it we do have a growing business, a good reputation and a certain amount of freedom and contentment in life. While I’ll always be glad to make more money I think richness is not measured by the amount of money you have.

I see a fair amount of Get Rich Quick schemes at the various expo’s we attend or on the side of my Facebook feed. I also hear from some colleagues and even some of my agents on how they spent all their savings or maxed out all their credit to take this class, that training, this boot camp and don’t have anything to show for it. The promises did not pan out. Continue reading “Want to Get Rich Quick?” →

Yesterday (when I wrote this) was the first Tuesday of the month.  Those of you who invest in Texas likely knows what that means… Yesterday was foreclosure day.  Many of you probably spent last week like I did… fielding calls from homeowners on the brink who finally decided to call the number on one of those mailers that have desperately been trying to get their attention.

There is some great opportunity in those calls for purchasing property from some very motivated sellers.  However, there are just as many if not more who don’t have equity and short sale is their only hope.  At StepStone, we lovingly call one of those a Hail Mary! While we may say a prayer what we are really referring to is the football term: Continue reading “Hail Mary!” →

Because most of my marketing is to distressed sellers, it’s not often that you will find me doing a “listing presentation” for a traditional listing. I recently found myself in that exact situation, however, when I was referred to a seller, Mindy, from a friend. I didn’t know that she was interviewing other agents but I did what I normally do… I brought some comps and we reviewed them. Nothing fancy.

After we finished discussing the sales data and her listing, she told me that she was interviewing other agents and wondered if I was negotiable on my commission. This is the point where most agents have that Deer in Head Lights look. Oh no! I just got a pay cut!

For those of you who don’t know, although there is a common amount of commission that many listing agents charge, typically 6% of the final sales price. The amount is not regulated and is instead determined by the listing Broker and the seller. Continue reading “How About a Pay Cut?” →

Continue reading “Creative Investing is Unscrupulous Investing” →

I spend a lot of time talking to Realtors who are also active investors.  Some of them got their license to assist in their investment business.  Some of them were Realtors first who saw the opportunity in creative real estate.  A common thread emerges when I talk to them about their brokerage… they feel like the black sheep.

You see, many brokerages are still resting on the laurels of the old traditional ways of practicing real estate. That means sales meetings, desk duty, elaborate listing presentations, open houses and property tours. And, of course, a broker who is preoccupied with how many listings and buyer rep agreements you have.  A broker who wants you to produce for them! Continue reading “Be a Black Sheep!” →

When my husband, Dan, came to me about nine years ago and suggested I get my real estate license I felt a little horrified! Immediately, I had the image of myself wearing a gold coat and pearls, on the side of the road putting in an Open House sign while trying to keep my skirt from flying up in the wind. Now, eight years later I am the Broker of a growing Real Estate firm and I wouldn’t change a thing.

I talk to a lot of investors about getting a real estate license and I hear a lot of myths and misconceptions about why they think it is a bad idea.  I also talk to a lot of investors with their real estate license and most of them think their license is one of their most valuable investment tools. The trick is to get past all those fears and misconceptions to truly see the advantage of a real estate license. So, let’s talk about some of those myths. Continue reading “MythBusters: Getting Your Real Estate License” →

My brokerage specializes in sponsoring Real Estate Agents who are also active Investors. This makes us unique.  Many people in the real estate field, whether agent or investor, think that you can’t do both.

Many agents tell me they are nervous about becoming an investor and investors tell me they worry that getting their license will hinder their business. I’m here to tell them both otherwise.

Here at StepStone we all know the advantage of wearing two hats when it comes to real estate.

Why an Investor should put on an Agent Hat

I have many investor colleagues who are sure that getting their license is a bad idea and will inhibit their business. I say not only will it not inhibit your business but it will enhance what you are already doing and make you more money! Continue reading “Wearing Two Hats” →