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/biz/ - Business & Finance

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12540522 No.12540522 [Reply] [Original]

Does anyone have any good pointers while working in real estate? How do you guys filter out potential clients from the lookers?

>> No.12540545

>>12540522
???

>> No.12540561

>>12540545
He's asking how to not waste time with tire kickers, I think.

>>12540522
Can you tell everyone who's not pre approved to fuck off and leave your open house?

>> No.12540564

>>12540522
real estate agents basically do nothing and get a percentage off the sale
you should be happy anyone is calling you and not presume they're "lookers"

>> No.12540569

>>12540522
Get best friends with a LO. Let him/her handle those lookie Lous.

Ask for a prequal letter upfront. Just be nice about it. Say that way you know the buget and what to expect with the loan process. Have the LO by your side most of the time of doing an open. I have est 3 of the top 10 mortgage companies marketing. Which state are you in? I can tell you who has the marketing to help you gain more leads and filter

>> No.12540604

>>12540564
That's true for smartfags like everyone itt, but not true for millions of tards who use realtors. Step up bro; this is a business board, and one of the first marketing lessons is: for every product/ service there's dozens of different classes of consumers who need something different.

>> No.12540645

Wtf, is this some HD mod? Looks almost real.

>> No.12540734

>>12540561
Yeah. Yesterday we had a pretty good thread about this and I'm still curious and some guy who knew what he was doing was mentioning about asking for bank balance and pre qualifying letter as proof of funds,but everytime I ask for that they ghost me. Whats the secret?

>> No.12540749

>>12540569
California. And thanks for the advice. I'm new to real estate but want to put in my 100% into it.

>> No.12540786

>>12540734
>Whats the secret?
I'm not in the industry. My guess is, for what it's worth, if they drop out when asked for the papers, they were losers anyways. People with bank approval walk around with that shit held out in front at arm's length like a toddler with a new toy.

The guy above was talking about being buds with a loan officer. Can you two step them? Treat them nice when they come in to waste your time, but sit them down immediately with your dude while setting up an appt to go see a few houses?

>> No.12540901

>>12540522
Ask for a credit check

>> No.12541043

>>12540901
Ah ok, so I can say "hey before we go any further, we have to see what your budget is like and for that I'd need a credit check, bank balance and or need you to get prequalified with a loan officer we have one here in our offices, which one of these 3 would work best for you?"

>> No.12541179

>>12540645
that's Google Streetview.

>> No.12541735

>>12541043
Yes. You will filter out any lookers

>> No.12541783

>>12540749
You're gettin in right before the major crash is about to occur. Did you buy bitcoin at 20k?

>> No.12542224
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12542224

>>12540522
Fucking faggots walking in the bike lane. Im there every week, it's always some eurofag or chinese tourist.

>> No.12542317

>>12540522
you real agents are the worst people, worse then car mechanics. you guys literally know nothing about houses and are trying to sell them for a huge cut. GO FUCK YOURSELVES, SCUMBAGS

>> No.12542369

>>12542317
What?
Also side note for any experienced agents, can you guys give some advice on what the procedure is to get a sale? I'm new and haven't sold anything yet, but I havent given up hope yet. How do you get someone from point A to point B to closing escrow?

>> No.12542622

>>12540522
ride on this venice beach every summer
feelsgoodman

>> No.12542682

holy shit, I sure am thankful I participated in Southwestern Advantage summer program.

How about asking them temperature questions? Did they teach you anything at all before hiring you to be a real estate agent?

>> No.12542697

>>12542369
Why are you on biz asking these questions. Ask your broker

>> No.12542765

I'll chime in. I work along side agents everyday(home inspector) though I am not one. You don't weed out persay. Yes,you can see who's pre-qualified or not. However, especially starting out, you need to plant seeds. Be nice to everyone, help everyone. These people may not use you but they may remember you for a friend or family, years later. You may indirectly get clients. It will take you a few years to get established.

>> No.12542778

>>12540522
Bump

>> No.12542795

>>12542682
Nah all we did was book stuff but I really need some hands on approach to this. Stuff I cant learn from a textbook

>> No.12542803

>>12542697
I did ask some questions but sometimes she's busy and also I want to know what other agents do

>> No.12542858

>>12541043
I told you yesterday that this is retarded. Why do you need to see these proofs? What is the going further? Constantly calling and harassing potential buyers?

>> No.12542992

>>12542858
Because you cant show someone a property they can't afford. Why would I waste your and my time showing you a house you cant even buy?

>> No.12543299

>>12542992
For the foot traffic itself. Why would I show you the maximum money I have to spend? Your job is to extract every penny of that from me in exchange for the most worthless asset possible. Here it seems normal for the realtors to ask 'casually' about (((prequalification))), I just tell them I don't have it because I want them and the owner to capitulate.

>> No.12543895

>>12543299
My job is to show you the property that you like. But why would I show you something you cant afford? Lets be realistic here, if you cant prove you make enough money to purchase the property you like then Im not going to waste my time showing you it. The seller shows what the client wants, I cant show you a 600k house when you only have 20k in the bank.

>> No.12544234

>>12542858
The two times I've walked in to get a buyers agent, the first question was do you have a pre approval letter, before reception would set me up with whoever was up. Pretty sure that's standard ops.

>> No.12544250

>>12541735
As well as people who aren’t complete doormats

>> No.12544312

>>12540734

If they ghost you, it means they weren't serious to begin with.

I work in NYC, none of my clients had problem producing pre approval letters or showing POF if they are paying cash.

It is standard procedure here, especially because of how expensive real estate is. Clients who brag about how deep their pocket is and refuse to acquire the document mentioned above tend to be bullshitters.

>> No.12544355

>>12540569
Loan officer here,
THIS

OP, you need to find some good LO's, Title Reps, Credit Repair people to be friends with. Not co-workers, friends. You should be at the bar with these people. My company pays for leads and have about 5 close REALTORs I give a client to from those leads that end up purchasing, and some even sale. I have help host over 300 open houses about 75 broker opens ( I like those). You need to find a LO and get educated about the mortgage process and what type of loans, that way you can weed about the bs and all all your clients questions upfront since they will have mostly financing questions. no one cares about the neighbor stats or where the closest coffee bar is, schools, though a meme, seems still important to the normies.

Your in CA? Fine LO's from PrimeLending, Caliber HomeLoans or HomeBridge. I have worked at those places and we have some crazy elite marketings. and their loan products can help almost anyone breathing. Also do you know about this program? ListReports, buy it now. I was apart of their marketing team when they started.

Do buy any meme Zillow leads. Though do fish for REO leads and find lemders that cam lend on those.

>> No.12544374

>>12544355
also, get with said loans officers and do lunch and learns and do shit together at local schools. There are tons of teacher loan programs, dr. programs, EMT, cops, VA, kids with student loans, etc.

>> No.12544455

>>12544312
>>12542369

Also, does your brokerage not offer training? As a new agent, it is better to find a brokerage that offers competent training for new agents and taking a lower cut of the commission, than a brokerage that offers no training but only take 10% cut.

Getting your license is only the first step, you won't know what you're doing until competently trained and a few sales under your belt with hand holding involved.

>> No.12544540

>>12542224
I hate that so much. Biking on Venice beach is actually useless. Locals know where to go and it ain’t there.

>> No.12544648

>>12544455
They do but keller Williams is more into sit at your computer and do lead generation. I want to get out there and learn the step by step process on how to sell a House. Like ok I got this client, he has pre approval ok but then what?

>> No.12544829

>>12544648

You find out what his budget is, what kind of house he is looking for, and in what neighborhood. Then you start looking through public MLS and your company's private listings. If there is a discrepancy between your client's budget and the price of the kind of house/neighborhood he want, reconciliate and so your client's expectation is more realistic.

Show your client all the houses that potentially fit his need and make appointments for him for showings. Find out any information he want to know, property tax, zoning, school district, legality and whatever the hell else, etc...

Prepare all the necessary documents to cover your own ass, like disclosure forms, co brokerage agreements so you don't get stiffed on commission by the seller, and whatever else your local law requires. Then once they find a house they like, submit an offer for your client and negotiate on your client's behalf until a contract of sale is signed. Then most likely your client will want a house inspection, recommend one, if they don't have a preferred inspector. Then its waiting for closing, and you functioning as a middle man between the seller, your client, and your client's lender.

My brokerage bring in weekly lecturers, usually architect, lawyer, and other industry expert to lecture their agents on these respective field and the latest changes. One reason they do this is because better agents leads to more sale, and more knowledgeable agent will lower the risk of the brokerage getting sued because of their agent's misconduct.

>> No.12544869

>>12544829
Now that's a nice meaty answer, thanks anon. I'm just lost in this career but I want to prevail. Thank you again for explaining.

>> No.12544886

real estate agents are human trash, i'd rather spend the extra $2k to hire an actual lawyer.

>> No.12544908

>>12544886
Why are we trash? Explain.

>> No.12544911

>>12544886

You will need a lawyer regardless, in a judiciary state. But a lawyer will charge you $500 an hour to answer your questions, while a realtor will hold your hand through the entire process, even if you're a clueless brain dead moron, because they need that sale to close to earn the commission.

Nothing is free. If you knew what to do to begin with, then you obviously have no need for a real estate agent and our services is not for you.