Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I was looking at it from a realtor commissions point of view and most houses selling within only a few days of being placed on the market. My co-workers wife is a realtor and I keep asking him if she's made them rich yet. A neighbor is also a realtor and he has both a BMW convertible and a Tesla sitting in his driveway. From that perspective I think most realtors are doing quite well commissions wise.
There's a low bar to entry as far as being an REA. Sure, the commission gross might seem like a hefty sum, but that depends on the Realtor's ability to convince people to hire them. My wife's coworker just got her license. No way I'd hire her. Nothing personal, I'm just not about to hire someone when I know more about houses and construction and zoning than she does. I want someone that is wise to the negotations/contracts side of the transaction and that comes with experience. I also want someone that I can bounce a concern off of (does crawlspace setup that look right/normal to you?)
There's a low bar to entry as far as being an REA. Sure, the commission gross might seem like a hefty sum, but that depends on the Realtor's ability to convince people to hire them. My wife's coworker just got her license. No way I'd hire her. Nothing personal, I'm just not about to hire someone when I know more about houses and construction and zoning than she does. I want someone that is wise to the negotations/contracts side of the transaction and that comes with experience. I also want someone that I can bounce a concern off of (does crawlspace setup that look right/normal to you?)
A co-worker just got her RE license, she took the test four times.
I searched online and found a sample test...out of a score of 20, I got 17 right. The three I missed pertained to legalities of when a transaction is valid/when a deed is valid (all the same type of question).
I've never taken any sort of RE classes.
You are absolutely right, folks who would make an excellent RE agent are those who 1) pay attention to details 2) have a long background in home construction and 3) know the area and keep up on constant zoning and economic changes in each suburb. Those folks probably would make more money by buying and flipping though.
Unfortunately, the high quality agents get crapped on due to the massive amount of newbies flooding the market.
A co-worker just got her RE license, she took the test four times.
I searched online and found a sample test...out of a score of 20, I got 17 right. The three I missed pertained to legalities of when a transaction is valid/when a deed is valid (all the same type of question).
I've never taken any sort of RE classes.
You are absolutely right, folks who would make an excellent RE agent are those who 1) pay attention to details 2) have a long background in home construction and 3) know the area and keep up on constant zoning and economic changes in each suburb. Those folks probably would make more money by buying and flipping though.
Unfortunately, the high quality agents get crapped on due to the massive amount of newbies flooding the market.
The reality is...20% of Realtors make 80% of the money. You can replace the occupation "Realtors" with almost any other industry.
People flock to becoming a Real Estate Agent when the market is good. Look at 2008 when all those newbies left as quickly as they arrived, including many Real Estate Companies.
Most Realtors that are listing agents work with Buyer's agents and most Buyer's Agents work with listing agents so believe me when I tell you that I see (and have to deal with) the good and the bad! And lately, with the craziness of this market, I'm seeing plenty of less than qualified Real Estate Agents. One even told me this was her first transaction and her LAST!!!
My point is...those that become good at their job will remain. Those that are useless will get out and move on to their next endeavor!
Funny...My FIL was the BIC at a realtively productive agency. He said of his agents "I always wanted them to buy a new car. That payment would keep them hungry."
If you mean inside or along 440, then yes, the constraint is land. If you mean Raleigh in the sense of everything in the city limits, not so. But let's be honest. The Mayor and the powers-at-be who own land ITB are mainly chasing vertical growth ITB. It's where the big money can be made. They are far less interested in seeing Raleigh OTB developed (and I don't include Crabtree Valley or North Hills in OTB). The Mayor will respond favorably to OTB developers who want their parcels annexed, naturally, but that's about it.
I think annexation has been largely quashed, certainly since it's (only?) voluntary now.
Land is an issue everywhere SW of Raleigh too.
Yes, there's plenty of land in Wake County - draw a line from US1N in Wake Forest down to 40 near Clayton - everything east of that.
Just like "us old-timers" would have snickered at the thought of Holly Springs ever becoming "desirable", we can all snicker now about Zebulon and Lizard Lick.
Just saw a presentation today: active listings in Raleigh are down 2/3 vs. February 2020, one of the 3 sharpest drops in the US.
Well... The thing is...
Quick sales turn that inventory fast.
It's like Arnold delivers 5,000 loaves a bread each week to Wegmans.
Last year, they sold 4800 loaves/week.
2021, they sell 5000 by Sunday. No "Active" bread until the next delivery.
Yes, annexation is voluntary, but look at what's happening in the northwest (Raleigh has spilled over into Durham County) or the northeast (the city limits go all the way to NC 98 and US 1). None of that was involuntary, and there's a lot of raw land still out there. All that's required is for a developer to call his or her pals at City Hall and bang, the city limits expand again.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
