Here are this week’s top comments compiled from across the site.
One question that’s missing is ‘How much money did you set aside to fund your start-up as a Realtor?’. I was lucky to have grown up in a Real Estate family and knew that passing the Real Estate exam isn’t enough to start making money in Real Estate. I recommend having 2 years of expenses set aside before you start (at least where I live). Otherwise, you will become part of the 80%+ that don’t make it past two years. You really have to think of it as a start-up business.
You are going to pay to work for at least the first year no matter how hard you work. There is a learning curve and time needed to gain traction. I believe you should use this time and part of that nest egg to get your GRI which will help you to better represent and protect your clients from the mistakes most new Realtors make.
And, be choosy about who you pick to be your Managing Broker. And, be choosy about where you get your education. Don’t go for the school where you can pass the school test as easily as possible. That just sets you up for failing the State/National exam. I went to AZ School of Real Estate & Business, known for being the toughest school here. Yes, it was frustrating to fail their test by 2% the first time. But, by the time I passed their test, the State/National test was a breeze!
When ReMax shook up the industry, it offered a different type of commission structure that was not able to be quickly adopted by competitors. Outside of throwing a ton of money at anything and anyone, I don’t think anyone is clear on what exactly Compass offers that makes it such a disrupter worthy of a $1B valuation.
Thanks Brad & Co for this inititative. Vermont, since 1971, has held Green Up Day on the first Saturday of May. EVERY community in Vermont has a Green Up Day coordinator. Volunteers turn out with green trash bags supplied by the state office, the coordinator and their staff have maps of their community and the volunteers take a section of road to pick up trash. My wife, also a REALTOR(R) and I, along with our grandsons, now 11 & 12 years of age, have a two mile stretch we cover each year. My wife & I have covered this stretch for over a decade, both sides of the road and clean up lots of beer cans and McDonald’s bags. One year we found a dashboard of a Toyota including the full wiring harness. Two years ago we recovered 16 bags of trash in the 2 mile stretch and last year only 8. Our local Board of REALTORS(R) also organizes members to participate. We start at 8AM and generally by noon or 1PM about every road in Vermont is covered and Greened Up. The state DOT does the same thing on the interstate system. The first year, Governor Davis ordered the Interstate closed for 3 hours while volunteers cleaned up. The Federal Government officials didn’t like that.
When I was young, I learned the wisdom “consider the source”. Now more than ever this is imperative. I have always fact checked stories, in print or by word of mouth, regardless of the topic but especially in politics. We are in for a long haul of alternate reality and I am hopeful that it will reach the point where a majority of people will develop the relfex to “consider the source” and sort out the truth from fiction.
“Lies, damned lies, and worst of all, statistics.”- Mark Twain.
While the facts stated above may technically be true, I don’t think that they reflect the reality of the work place that recent college grads are facing. While the average wage of a 2016 grad could be $50K, i suspect that the median starting wage is much closer to $30K; The average student loan payment may be $351, but how many of those ex-students have received a waiver, and are simply making interest payments, with no progress on the actual loans? Housing prices and student loan debt has surged, while wages have barely risen, making true affordability for this age group a real issue…
I have facilitated several divorce sales. I work closely with the transaction coordinator and the escrow officer. Yes…extra copies of the same disclosures because one side doesn’t want to even see the ex’s signature. And I have to agree…one may just want to sell the house for a dollar over pay off.