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LisaLovesSanAntonio

You Will, Too!

Month

September 2017

A Realtor’s Job

What’s this Realtor really doing all day?

30 years ago most real estate agents were woman, over 50, with husbands that had great jobs…. as long as they made enough money to pay for their lunches and real estate expenses…and were home with dinner prepared most evenings….things went fine.  The office kept half their commission…but in exchange for half their commission the office did all of the marketing for homes for sale, paid for all the business cards, paid for any folders and flyers that went with the agent when the agent was being interviewed for a possible new house listing….the Realtors expense was:  gas, a nice car, lunch money in case they had to pay for lunch while showing homes and their real estate dues to the local board of Realtors.

Today it’s a lot different.  But a few agents still think the above is still happening and it’s hurting the industry…..as the old saying goes….”One bad apple spoils them all”.

I meet a lot of people who tell me when they retire they are going to become an agent and housewives who tell me they love to look at pretty homes so once the littlest is in school they are going to become a Realtor….and sometimes I have time to tell them what I really do…and sometimes I just move on….let them learn the hard way.

A Realtor that makes enough money to pay for the expenses of their job works somewhere between 50 and 60 hours a week.  I’ve had many years of working 70 to 80 hours a week.  2017 finds me somewhere between 50 and 60 hours a week.  I sometimes feel guilty……I am not used to having any free time….which is why I have several blogs and am constantly researching new ways to advertise the homes I have for sale.D&L4

If you’re used to working 50 plus hours….this is the job for you.

A Realtor can’t commit to picking the kids up from school or watching every baseball game your son is in…..some say they can….but let’s discuss this.  If you have buyers in from out of town to look for a house….count on being with them from 9 in the morning to sometimes 9 at night.  Your commitment to your family can’t be while a buyer flew in town for their home search…..they will find another agent if it is.

Dinner every night ready for your family?  Don’t count on it.  The phone call you get a 4:30 asking to see the house you just listed means you go open that house.  Sometimes you don’t even have time to put up what you got out to cook.

Weekends off?  Ha, ha, ha.  That’s when sellers are off work and can meet with you to discuss what they need to do to get their home on the market.  Weekends are also when buyers are off work and can go see that home.

So… based on that….you think you can be a Realtor working just nights and weekends?   Ha, ha, ha.  Monday through Friday I am at my computer placing my ads, researching the next place to drop an ad, analyzing the different programs I pay for to make sure everything is working properly, negotiating offers, calling sellers to tell them what I am doing for them, calling buyers to tell them what I have found for them, picking up signs, getting keys, putting out signs, designing ads, talking to title companies, checking to see that the settlement statement is correct, going to closings, calling lenders for updates, calling agents for updates, cleaning my yard signs, making sure I have enough yard signs, designing new marketing material….and more.

If you want to be a great agent (meaning; make enough money to justify working 50 and 60 hours a week) you need the following;

  1. You have to be internet savvy and like to learn new programs on your computer…not games…software.  The internet has changed this game and I am constantly changing with it.
  2. You have to be available Monday through Friday 8 to 5 and after 5 and on the weekends…..and be happy about it.
  3. You should have good grammar and great writing skills so you can write ads for yourself and homes you are selling.
  4. You have to know how to take great photos and have a great camera.   Sellers want to see their homes on the market and may not want to wait for your photographer to show up a few days later and then send over photos a few days after that.  And you can’t put a house in the computer for sale without great photos…shame on you if you use your cell phone.
  5. You have to be willing to spend hours researching neighborhoods, viewing homes to see what the competition is for your sellers and learning everything you can about the area you sell in…on a weekly basis.  Things change quickly….and you need to know what the latest change is.
  6. You have to be a great negotiator….or you will never get the SOLD sign in the ground or through inspections and appraisals so you get a paycheck.
  7. You have to be able to pay for all the expenses the broker used to pay for….you still need a nice car with a big enough trunk for several signs, money for lunch or dinner if you are caught away from your desk or have buyers in from out of town, money for your board dues, your Realtor.com dues, your website expenses, your FACEBOOK ads, your camera, your printer, ink for your printer, folders for buyers and sellers, business cards, name badges, signs, sign riders, ………..Count on spending $50,000 a year before you make a dime.  And that doesn’t include self employment taxes or the additional expense I pay to have private health insurance.

If you’re willing to do all the above…..I welcome you to our field.

 

Walk AWAY from that house….oh, wait…RUN!

Sometimes it’s best to walk away from a house purchase…..even after spending money on an option fee and inspections.

In fact, that’s why we have an option period in Texas….so you can have professionals go out and inspect the house to see if it’s worth owning.

Yesterday we had the opportunity to have our buyers sign a “Termination of Contract”…..even though it wasn’t our buyers asking to sign it.

Our first warning should have been when the seller’s son-in-law called to let us know that all communication for the purchase would be directly to him….bypassing the agent on the Multiple Listing Service .  We knew a “For Sale By Owner” sign was on the property….but had also seen the property on the local MLS.  We checked our MLS….still showing as “active” but in remarks…it asked us to send all correspondence to the seller.  Turns out…not really the seller, the sellers son in law.

Our buyers hired a home inspector and also had a septic company go out to the property to make sure the septic system was in working condition.  A number of items were brought up by the home inspector that were items of concern…so our buyers asked for a few repairs.  The seller’s son (not a Realtor, nor the owner) immediately responded that no repairs would be made.  Our buyers decided to move forward…they really wanted the house.

Closing was to occur on October 5th and the offer was contingent on the sale of the buyer’s home.  The sellers son in law called on September 11th asking for our buyers to remove the contingency.  He also stated that if they didn’t release the seller from selling the house to them he would do his best to make sure the buyer’s didn’t ever get the  earnest money back.  His words (in WRITING) followed with an ugly email:  There is no “good faith” on this side because we feel we have been misled (?),  and mistreated (?), the appraisal has not even been completed, we want to be released from this contract immediately.  If your clients hold us up any longer and will not release us until 10/5 and do not close as promised and signed they can kiss the $1K earnest money goodbye, I will tie it up indefinitely.  Sign the release….get your $1K refunded.

The buyers, after reading the email, decided to forget about the purchase.  They don’t qualify without the proceeds from their home…..which is why it was contingent on their sale.  They had put new windows in their house, new siding outside, had it painted inside and out, replaced the fence….all done and ready to put on the market for a very quick sale at $200,000 on Sept 12th.  The house they were buying…..$310,000 and needed lots of updating. We have since learned the sellers daughter called the lender and told her they had another offer…but it wasn’t as good as this offer.  She also told the lender that the Mom, the seller, had borrowed money to fix up the new house she had bought in a new city and needed the funds from the sale to pay the borrowed money back.

I can’t help but believe if we had been able to work with another agent on this sale…..instead of the seller’s son in law, a hot head, we might have been able to close on this home.  We wouldn’t have seen an email that was so “heated” from the son-in-law…..we would have either got a call from the Realtor or an email asking how the process was going for putting the home on the market and getting it sold.   In San Antonio…homes that are fixed up and ready for quick move in for $200,000 or under FLY off the market….especially in North Central San Antonio with great schools and in a great neighborhood.  We probably would close sooner than  the next buyer…..and it appears, from the disclosed call to the lender, that the seller would have netted more from our sale than the next sale.  So…did the seller borrow the money from the son-in-law and he couldn’t afford to risk it not being back in his account by October 5th?  We’ll never know…..but I still believe you hire Realtors to get your home SOLD and keep the emotions out of the transaction….and everyone wins because they understand what is happening, when it is happening and why it is happening.  Without the Realtors you have this situation….a seller who has no clue what really is happening and why….and a seller that will end up with less money in her pocket because her spokesperson was a hot headed relative that didn’t know real estate.

 

 

 

 

Facebook Craziness

Begin your day with 3 things in mind:

  1. Humility….be courteous and respectful to others
  2. Service…..do something positive
  3. Mission……give or serve

Once again….craziness on Facebook, TV, news streams…..OMG I hate it.  I am going to follow the advice I got yesterday at church….yes, at church.  The Pastor obviously had a “heads up from Jesus” that I’d need this advice this week.

 

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