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Isn't it great that consumers can work with an agent who will refer them to honest lenders instead of the lowest of the low? Yep, it sure is..
Funny how failed real estate agents become MLOs, but failed MLOs don't go into real estate brokerage.....
We have probably a dozen or so MLO's that became agents only to go back to being an MLO. Honestly, they are pretty good MLO's because they gained understanding and appreciation for the challenges agents face as well as better contract knowledge.
So you wouldn't mind taking a lower commission if you had a listing in a less-affluent area?
Or maybe work on flat rate?
(No need to answer, it's a rhetorical question)
No problem. The answers are easy.
If I sell a $600,000 house, and take 2%, that is a $12,000 commission.
If I sell a $200,000 house, and take 2%, that is a $4,000 commission.
In my mind, the answer is, "Yes, I already do take a lower commission."
I don't work on flat rate. No one can tell me how much time I will have in a transaction, ever.
I don't work on hourly rate. I am not going to get into a tinkling match over billable hours.
I am working on a program to photo and enter a listing for~$499, if a seller wants to go FSBO and on MLS, with a $500 discount should we agree later that they will convert to a typical full service listing.
No agency representation. No fiduciary duty. They will offer a minimum 2.4% co-broke to a buyers' agent.
I expect to kick it off in the New Year.
Let me try and answer that: 'cause the job requires no education and has no real responsibility. 'Cause you can say anything you want to the buyer or seller and so long as it is not on paper or in an email or on tape, it is their word against yours. 'Cause you can get away with taking a photo of yourself in the Seller's mirror in a half-dark bathroom with the flash on and put it on MLS and if the house is in a great area, it will still sell and you will still get your commission. 'Cause you can write a description of a property that sounds like someone from a remote village in Siberia wrote it after taking 4 hours of English language instruction and still get paid your commission. 'Cause compared to any other profession that requires no college education (like plumber, electrician etc.) you get to live well, drive a nice car and wear a nice suit and not get a speck of dust on your clothes. Should I go on?
I have a BS from Clemson. I considered going back for my masters but I was tired of school. Prior to real estate I spent 5 years managing a company division with as many as 60 employees. I got burned out. I am a helper by nature. I no longer liked my job so I changed career.
I like real estate because every day is a new challenge with new people with new problems that I can help them with. I may have had 60 hours pre-licensing education but I have 10 years of on the job education. I have had many more classes and educational opportunities over the years. I was just asked to chair the local Realtors Association Ed and Tech committee. I can earn any amount based on my effort so time is my limiting factor. I opened my own company so I didn't have to follow restrictions set by others that I felt were counterproductive at times and so that I would have the ability to help other agents achieve their goals.
I always put my client first. My camera equipment is professional level and I spent $1700 for camera, lens, and equipment. I believe my posts speak for themselves as far as my ability to communicate.
So while you're correct the minimum requirements are low you'll find that the agents that do most of the business far exceed the minimums you are so quick to point out.
I have a BS from Clemson. I considered going back for my masters but I was tired of school. Prior to real estate I spent 5 years managing a company division with as many as 60 employees. I got burned out. I am a helper by nature. I no longer liked my job so I changed career.
I like real estate because every day is a new challenge with new people with new problems that I can help them with. I may have had 60 hours pre-licensing education but I have 10 years of on the job education. I have had many more classes and educational opportunities over the years. I was just asked to chair the local Realtors Association Ed and Tech committee. I can earn any amount based on my effort so time is my limiting factor. I opened my own company so I didn't have to follow restrictions set by others that I felt were counterproductive at times and so that I would have the ability to help other agents achieve their goals.
I always put my client first. My camera equipment is professional level and I spent $1700 for camera, lens, and equipment. I believe my posts speak for themselves as far as my ability to communicate.
So while you're correct the minimum requirements are low you'll find that the agents that do most of the business far exceed the minimums you are so quick to point out.
I'm taller than you are, Brandon.
Got a better discount on my camera, too.
Can you provide a source for that info? I don't believe that's the case for most service providers.
I would love to read that article. Thanks!
It is not the case for all but the variability is very high. Install a water heater - of which I have been involved in at least 15 over the last 10 years varies 3 to 1. And if you are in a higher end gated tract you will often be quoted a higher price. Here it will run from 200 to $750 for the installation. My guy does $275 which is reasonable.
Nor do agents have the training and certification that licensed electricians and plumbers have.
You cannot just take a course and tada you are an electrician lol
I don't see why you would compare licensed professionals like electricians and plumbers with agents. Yes you can say they have a license as well but you cant compare the training and requirements of an electrician and someone who just takes a course and a test haha
Agents do have a 3 year time frame they must work under a BIC before they can open go out on their one in SC. In addition to the class time that is basically a mandatory 3 year apprenticeship. Just sayin...
So you wouldn't mind taking a lower commission if you had a listing in a less-affluent area?
Or maybe work on flat rate?
(No need to answer, it's a rhetorical question)
Rhetorical perhaps, but I offer 3 different commission plans.- "low service/low commission", a standard, and a premier plan. Almost everybody opts for the standard.
I have a BS from Clemson. I considered going back for my masters but I was tired of school. Prior to real estate I spent 5 years managing a company division with as many as 60 employees. I got burned out. I am a helper by nature. I no longer liked my job so I changed career.
I like real estate because every day is a new challenge with new people with new problems that I can help them with. I may have had 60 hours pre-licensing education but I have 10 years of on the job education. I have had many more classes and educational opportunities over the years. I was just asked to chair the local Realtors Association Ed and Tech committee. I can earn any amount based on my effort so time is my limiting factor. I opened my own company so I didn't have to follow restrictions set by others that I felt were counterproductive at times and so that I would have the ability to help other agents achieve their goals.
I always put my client first. My camera equipment is professional level and I spent $1700 for camera, lens, and equipment. I believe my posts speak for themselves as far as my ability to communicate.
So while you're correct the minimum requirements are low you'll find that the agents that do most of the business far exceed the minimums you are so quick to point out.
You are an exception. But, that kind of goes around what I am trying to say - even if all RE agents had BScs - it wouldn't matter. It is just not a job that a) requires education and b) brings enough value to warrant 6% commissions. That's my contention.
BTW, you sound like you worked a REAL job and then decided you had enough and went "down" in the ladder to something more relaxing (exactly my point)....
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