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!”
Join us for a Free luncheon – Friday, November 13 – at the Austin Big Daddy’s, from 11:00 to 1:00
Austin Big Daddy’s
Crossroads Center at 183 and Burnet
9070 Research Blvd. Suite 101
Austin, TX 78758
The Millennial Generation is already having an impact on the way agents work with buyers. Continue reading “Free Luncheon in Austin – The Impending Millennial Squeeze: How to Survive the Changing Real Estate Landscape”
Currently the largest group of buyers, Millennials — the do-it-yourself generation — are already squeezing agents with demands for fee-for-services.
Investors and Agents need to be ready for the next phase of the Millennials impact… when the biggest group of buyers becomes the biggest group of sellers.
Millennials are skeptical, tech-savvy, and used to instant gratification services. Investors and Real Estate Agents need to position themselves to be at the forefront of this ever changing market or risk being left behind. Continue reading “Luncheon: The Millennial Impact on Real Estate Professionals”
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?”
I work very hard to make sure seller’s understand two things: That I am there to help them and that my offer is not a negotiation, but a formula. I do this by first selling myself. I wrote about my techniques for doing that in a previous blog: Stop Buying Houses!
I then follow that with a very meticulously-crafted presentation of my offer. I broke that down in a blog that explained why investor offers are not low-ball. It was ironically titled: Investor Offers are Low-Ball.
As much as I would love the sellers to always be sold that I am there solution prior to the offer, and as much as I would love for them to always just accept my offer and sign, that just isn’t always the case.
Sometimes, its time to sell myself a little more. Continue reading “Be the Yes Man (or Woman)!”
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!”
I’ve been practicing creative real estate investing for eleven years. It hasn’t always been easy. In fact, there were times where it was a downright struggle. Part of that is I didn’t really ever embrace the level of networking and educating myself that I do today.
But when I look back on the long road I’ve been on, I do realize that every year gets easier. Every year I make more money. And every year the future looks brighter and brighter.
What I have done right is employ a strategy that is built for the long-term.
Which is good since I am having so much fun, I don’t ever want to retire! Continue reading “Investing Strategy for the Long-Term”
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?”
Everyone wants the best price they can get. Investors are no different.
But neither is the homeowner.
So investors often get accused of “low-balling” the seller with their offer. A significant reason for this is investors fail miserably in presenting the offer. This is another reason investors are often seen as “taking advantage” of a seller’s poor situation (deferred maintenance, pending foreclosure, etc.).
But the fact is, the cash offer we make is the offer we make because we HAVE to make that offer. There is a tried and true formula in real estate for quick-close cash-offers that significantly reduces (although does not eliminate) the possibility of losing money on the deal. Continue reading “Investor Offers Are Low-Ball!”