Any NC licensed real estate brokers on here?

[thefuzz]

3 hours ago, Zaximus said:

Every single person I know that has tried to handle buying or selling without an agent ended up regretting it.    It's just not smart.     There is so much more involved and so much work that people have no idea about.    I mean of course there will be bad ones, that's any profession, but a good buyers agent for instance will know what you can afford, what you want, and should put you in the best situation for long-term when buying something.    It takes time to weed out all that stuff.     There is all kinds of work before you even make an offer, and THEN you get into negotiating and making sure everything goes fine from then on.     You need someone representing YOU because I won't lie, there are some shady people out there doing this.

Honestly, folks really have no clue just how complicated each transaction is.  About 10% of the time you will get a lay down (term in the industry referring to a deal or client that everything seems to go smoothly on).  About 50% of the time there are issues, the other 40% there are major issues....and trust me, there is zero logic that comes to the table to work out issues on homes....it's totally emotional.  From both sides.

Dealing with home inspectors, loan originators, appraisers, closing attorneys, repairs/handymen/contractors, HOA's, movers, utilities, etc....and that's before you even talk about how everyones emotions are on edge because it's a LOT of money.

Sure there are easy transactions, but most are anything but.  Buyers see the HUD statement at the end of the road and their only thought is "damn, I should be a realtor, they make BANK".....not realizing that the sellers brokerage gets 50% of that and the buyers brokerage gets the other 50%.  Then the agents get paid from there according to their splits with their company.  Most agents take home less than 35% of the total commission amount.

[LinvilleGorge]

10 hours ago, thefuzz said:

How did you find your buyers agent?

You should really never see, or have any contact with the sellers agent to be honest.

She came recommended by a friend of a friend. I wouldn't recommend her to my worst enemy. I learned more about real estate transactions in Colorado than I ever wanted to know simply because I had to because she was utterly worthless.

[thefuzz]

13 hours ago, LinvilleGorge said:

She came recommended by a friend of a friend. I wouldn't recommend her to my worst enemy. I learned more about real estate transactions in Colorado than I ever wanted to know simply because I had to because she was utterly worthless.

Unfortunately, it's a job that attracts a LOT of the wrong kind of people....and it gives the real professionals a bad name in the long run.

Stay at home Mom that wants to "have a job" but doesn't really want to work.  They do about 3 deals a year and are typically worthless.  Retiree who just moved to the area, but not ready to quit work/can't stay in the house all day with their significant other...again, bring nothing to the table, and typically hinder buyers and confuse sellers.

Then you have the professional agents.  They make up about 20% of the licensed brokers in any one area, but do over 80% of the business.  I recommend finding one of those in any town that you are going to put down roots, and keep in touch with them.  They are invaluable.....and no, they won't discount their rates.

[hepcat]

18 hours ago, thefuzz said:

Honestly, folks really have no clue just how complicated each transaction is.  About 10% of the time you will get a lay down (term in the industry referring to a deal or client that everything seems to go smoothly on).  About 50% of the time there are issues, the other 40% there are major issues....and trust me, there is zero logic that comes to the table to work out issues on homes....it's totally emotional.  From both sides.

Dealing with home inspectors, loan originators, appraisers, closing attorneys, repairs/handymen/contractors, HOA's, movers, utilities, etc....and that's before you even talk about how everyones emotions are on edge because it's a LOT of money.

I coordinated a lot of those things by myself when I bought my house. The title transfer process was the most complicated part, and the title company the seller hired handled all the paperwork. They also managed the appraisal for the seller. 

On 8/12/2019 at 2:46 PM, thefuzz said:

I do not agree with much of this, but that's neither here nor there.

Agents won't just go away...it's just now how it will go down.  What's happening is the industry is being asked to do different things, but not go away completely.  Most people just don't have enough knowledge or experience to take a home from you living in it, to you at the closing table....just too many forks in the road along the way.

Sometimes this isn't the case, but for most it is.

Back to the agents disappearing...who is going to weed out the tire kickers before letting them into your home?  Who is going to follow them around to make sure they aren't leaving a window open?  Walking out with the pills from the bathroom cabinet?  Casing your joint to be hit as soon as you are at work the next day?

 

Like I said in an earlier post.  "You will find out just how little people know about the real estate industry, but are 100% convinced that they know all about it.  They don't."

 

Not picking on you hep....just saying it's not as simple as you made it out to be....but things rarely are.

I would definitely hire a realtor if I was selling a house I personally occupied for security reasons, and so I didn't have to deal with prospective buyers to schedule showings.

I get the value of it, especially for sellers who do not want to put any effort into selling their house for whatever reason. But I think if you're someone with a high business IQ, a savvy person can do everything a realtor can do. 

[hepcat]

39 minutes ago, thefuzz said:

Unfortunately, it's a job that attracts a LOT of the wrong kind of people....and it gives the real professionals a bad name in the long run.

Stay at home Mom that wants to "have a job" but doesn't really want to work.  They do about 3 deals a year and are typically worthless.  Retiree who just moved to the area, but not ready to quit work/can't stay in the house all day with their significant other...again, bring nothing to the table, and typically hinder buyers and confuse sellers.

Then you have the professional agents.  They make up about 20% of the licensed brokers in any one area, but do over 80% of the business.  I recommend finding one of those in any town that you are going to put down roots, and keep in touch with them.  They are invaluable.....and no, they won't discount their rates.

That's another reason I'm not super keen on hiring a realtor. Austin attracts so many losers who think they can cash in on a hot real estate market, cram to pass the exam and call themselves a realtor. I guess my opinion is really swayed by a hot market where because houses are selling themselves, I don't see the value in a realtor as much. But if I lived in a slow market, I'd definitely want a solid realtor grinding for me.

[rhyslloyd]

2 hours ago, hepcat said:

That's another reason I'm not super keen on hiring a realtor. Austin attracts so many losers who think they can cash in on a hot real estate market, cram to pass the exam and call themselves a realtor. I guess my opinion is really swayed by a hot market where because houses are selling themselves, I don't see the value in a realtor as much. But if I lived in a slow market, I'd definitely want a solid realtor grinding for me.

Aren't you the guy who was literally begging to get fleeced on a house against the good, honest advice everyone was giving you?  Lol.  Use the realtor, bro.  Not sure if you're aware, but you can actually pick your own realtor to weed out these so called "losers".

[hepcat]

3 hours ago, rhyslloyd said:

Aren't you the guy who was literally begging to get fleeced on a house against the good, honest advice everyone was giving you?  Lol.  Use the realtor, bro.  Not sure if you're aware, but you can actually pick your own realtor to weed out these so called "losers".

I didn't get fleeced and I'm not even sure I would have if I bought the house I posted about. It sold like a week after we passed, and got flipped and sold for about $150k more than we were going to buy it for. It wasn't even a good flip. 

[lymelizzard]

It's tough, but I passed.  Hardest part is trying to find a firm around  that wants a new broker. 

 

Know your vocabulary front and back.

[Anybodyhome]

12 hours ago, lymelizzard said:

Know your vocabulary front and back.

 

[Jimmy]

I just completed my course a few weeks ago, took the state exam and passed the National portion and failed state portion by 3 questions.  I am retaking the state portion on Tuesday.  It's all Real Estate Law...that's what got me and gets most people.  Study the law, everything else is pretty easy.  Funny thing was when I finished I thought I actually did better on the state portion.  It's really not knowing the actual law but how to APPLY it to the scenarios that are given.

[panther4life]

6 hours ago, Jimmy said:

I just completed my course a few weeks ago, took the state exam and passed the National portion and failed state portion by 3 questions.  I am retaking the state portion on Tuesday.  It's all Real Estate Law...that's what got me and gets most people.  Study the law, everything else is pretty easy.  Funny thing was when I finished I thought I actually did better on the state portion.  It's really not knowing the actual law but how to APPLY it to the scenarios that are given.

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