Real Estate agent as a side gig.

[FrustratedUser]

Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

 

[toekramp]

it's not that easy

 

[ElFenix]

do you know what the terms of the HOA say? how bout property tax rates? utility service rates? (this was big back in mid 80s when housing market dried up and MUDs went bankrupt all over harris county) school performance? no, you probably don't.


luckily, neither do realtors.

 

[Ns1]

it really isn't that easy

finding clients is the hardest part

 

[Garet Jax]

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

 

[FrustratedUser]

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

 

[Stuxnet]

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

1. Didn't warrant it's own thread.

2. It's not that easy at all. Most buyers out there are selling a previous home, and they're not going to list their home with just anybody. Everyone else is buying their first home, the majority of which are going to be new builds = no agent necessary. So now you have the leftovers - the folks who are buying their first home but not building - to spread out over everyone, and again, they're not just going to use anybody.

Word of mouth is critical and very hard to obtain. It takes one small slip-up from an agent to completely sour a client's experience with them, and there goes the word of mouth from that client.

 

[captains]

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Get job at remax
4. make client do all the work because your lazy
5. Sell 1 house / month.
6. Dont show up at closing
7. Have clients lawyer mail you check while your on vacation
8. Collect 3%


Tell me it can't be this easy.

fixed

 

[Stuxnet]

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

No, that's your job.

 

[BlueWeasel]

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

Maybe you're confusing the closing attorney with general advice? Most people don't want to have to pay an attorney for simple legalities that most decent realtors would know.

 

[FrustratedUser]

Originally posted by: captains

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Get job at remax
4. make client do all the work because your lazy
5. Sell 1 house / month.
6. Dont show up at closing
7. Have clients lawyer mail you check while your on vacation
8. Collect 3%


Tell me it can't be this easy.

fixed

Awesome.

 

[FrustratedUser]

Originally posted by: BlueWeasel

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

Maybe you're confusing the closing attorney with general advice? Most people don't want to have to pay an attorney for simple legalities that most decent realtors would know.

You really only need to do this once. I mean you as the agent pays for it once to get some kind of template contract to use.

 

[Injury]

It's easy just like freelance graphics/web design work is easy.

Anyone can sit on their ass at home and do it...

but if you're looking to make money on it rather than waste time, it takes a serious time investment, knowledge of the areas you cater to, the will to meet with your clients at the drop of a hat, and most importantly, the capital and reputation to get your name out as a valid real estate agent.

The last part is prime in any business, be it 1 person or 1000.

If you're only handling 1 or 2 clients every month, you aren't going to get any word of mouth. People don't buy homes fast enough to make a couple of people spread the word. People barely buy toothpaste enough for 2 people spread the word about how great one is over another.

If you aren't a part of an agency, you are going to have a much harder time. Most people are not experienced in home buying. When they consider it, the first thing they do is open up the phone book and call up names they are familiar with.
Remax. Caldwell Banker. Century 21. Who the hell is going to call Jim Jones' real estate first? Aside from that, if you come across as a guy who just does this in his SPARE TIME then why would a client think you are serious about it?

If it were that easy, everyone would be doing it and there wouldn't be money in it.

 

[JulesMaximus]

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

West of the Mississippi there are no lawyers involved in residential real estate buying/selling transactions. Your Realtor handles most everything.

 

[Stuxnet]

Originally posted by: FrustratedUser

Originally posted by: BlueWeasel

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

Maybe you're confusing the closing attorney with general advice? Most people don't want to have to pay an attorney for simple legalities that most decent realtors would know.

You really only need to do this once. I mean you as the agent pays for it once to get some kind of template contract to use.

Then what do you do when clients start challenging clauses in your template? This is quite common because not every client (or seller, for that matter) is going to let you dictate the terms of THEIR contract to buy the home. My wife and I have an attorney in the family, and he hacked the hell out of our last buy and sell contracts. The agent needed to be familiar with what was going on so she could communicate intelligently with the buyers of our previous home as well as the sellers of the one we were buying.

Obviously not every client is going to bring a lawyer to the table, and for that very reason, you need to be knowledgable enough to finesse your contracts when needed... otherwise you'll lose a lot of deals.

 

[JulesMaximus]

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

So, you're just trying to get me riled up aren't you?

 

[FrustratedUser]

Originally posted by: jbourne77

Originally posted by: FrustratedUser

Originally posted by: BlueWeasel

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

Maybe you're confusing the closing attorney with general advice? Most people don't want to have to pay an attorney for simple legalities that most decent realtors would know.

You really only need to do this once. I mean you as the agent pays for it once to get some kind of template contract to use.

Then what do you do when clients start challenging clauses in your template? This is quite common because not every client (or seller, for that matter) is going to let you dictate the terms of THEIR contract to buy the home. My wife and I have an attorney in the family, and he hacked the hell out of our last buy and sell contracts. The agent needed to be familiar with what was going on so she could communicate intelligently with the buyers of our previous home as well as the sellers of the one we were buying.

Obviously not every client is going to bring a lawyer to the table, and for that very reason, you need to be knowledgable enough to finesse your contracts when needed... otherwise you'll lose a lot of deals.

OK.
From what people have told me it's always a good idea to hire a lawyer as a buyer and they will always comment on the agents draft.

 

[FrustratedUser]

Originally posted by: JulesMaximus

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

So, you're just trying to get me riled up aren't you?

My lawyer will get in touch with you soon to discuss this thread.

 

[Stuxnet]

Originally posted by: Injury
If you aren't a part of an agency, you are going to have a much harder time. Most people are not experienced in home buying. When they consider it, the first thing they do is open up the phone book and call up names they are familiar with.
Remax. Caldwell Banker. Century 21. Who the hell is going to call Jim Jones' real estate first? Aside from that, if you come across as a guy who just does this in his SPARE TIME then why would a client think you are serious about it?

Furthermore, if you ARE part of an agency, you'll have monthly dues and fees to pay, regardless of whether or not you sold any homes. An RE friend of mine pays over $3,000 a month for a desk, computer, and network affiliation. It's like a mini-mob. Even if she doesn't sell any homes in a particular month, the Man cometh-a-knockin' looking for his 3 G's.

 

[DeadByDawn]

Step 2.5 Plant flags in other peoples yards

 

[Stuxnet]

Originally posted by: FrustratedUser

Originally posted by: jbourne77

Originally posted by: FrustratedUser

Originally posted by: BlueWeasel

Originally posted by: FrustratedUser

Originally posted by: Garet Jax

Originally posted by: FrustratedUser
Inspired by another Real estate thread.

Being an Agent and only representing a buyer must be the easiest gig ever.

1. Get license
2. Get comp + internet connection + home office
3. Only represent people who are looking into buying.
4. Look up houses for customer (access to all MLS# in your area)
5. Sell 1 house / month.
6. Collect 3%


Tell me it can't be this easy.

You will need to deal with all the legalities as well and provide recommendations on the contract.

That's where the lawyer comes in.

Maybe you're confusing the closing attorney with general advice? Most people don't want to have to pay an attorney for simple legalities that most decent realtors would know.

You really only need to do this once. I mean you as the agent pays for it once to get some kind of template contract to use.

Then what do you do when clients start challenging clauses in your template? This is quite common because not every client (or seller, for that matter) is going to let you dictate the terms of THEIR contract to buy the home. My wife and I have an attorney in the family, and he hacked the hell out of our last buy and sell contracts. The agent needed to be familiar with what was going on so she could communicate intelligently with the buyers of our previous home as well as the sellers of the one we were buying.

Obviously not every client is going to bring a lawyer to the table, and for that very reason, you need to be knowledgable enough to finesse your contracts when needed... otherwise you'll lose a lot of deals.

OK.
From what people have told me it's always a good idea to hire a lawyer as a buyer and they will always comment on the agents draft.

Of course it's always a good idea, but it also costs money and most clients will likely not have a lawyer. They'll expect you to fill that role, and it's quite reasonable for them to do so. Negotiating acceptable contract terms is a primary responsibility for a real estate agent. There are so many variables that buyers and sellers will quibble over. Oftentimes they conflict with one another and other times they conflict city laws and regulations. You need to know those inside out if you don't want to lose your license after your first transaction.

 

[FrustratedUser]

Originally posted by: DeadByDawn
Step 2.5 Plant flags in other peoples yards

ROFL

 

[JulesMaximus]

Originally posted by: jbourne77

Originally posted by: Injury
If you aren't a part of an agency, you are going to have a much harder time. Most people are not experienced in home buying. When they consider it, the first thing they do is open up the phone book and call up names they are familiar with.
Remax. Caldwell Banker. Century 21. Who the hell is going to call Jim Jones' real estate first? Aside from that, if you come across as a guy who just does this in his SPARE TIME then why would a client think you are serious about it?

Furthermore, if you ARE part of an agency, you'll have monthly dues and fees to pay, regardless of whether or not you sold any homes. An RE friend of mine pays over $3,000 a month for a desk, computer, and network affiliation. It's like a mini-mob. Even if she doesn't sell any homes in a particular month, the Man cometh-a-knockin' looking for his 3 G's.

My wife works for Coldwell Banker. They take roughly 40% of her commission. It sucks but she works for a well established office so there are more possibilities for good leads. She busts her ass marketing herself though and it's paid off. She has closed 4 homes this year and she has 4 active listings right now.

BTW-Almost all of her commissions have been 2.5%. This seems to be the norm around here.

 

[JulesMaximus]

Originally posted by: DeadByDawn
Step 2.5 Plant flags in other peoples yards

Yeah, the ungrateful pukes...

 

[Gibson486]

It's not easy because about 40 other people have the same idea. You have to give them a reason why people should pick you over the next realtor and there usually is not a reason at all. It's all about closing the deal before the other realtor.