[highlightnumb]

I think its so funny when someone ask me what im studying for and then they say they say OMG i know what youre going through because i took the real estate exam. I have to bite my tongue to not say out loud i wish the cpa exam were equivalent to the real estate exam but i dont want to sound like an asshole. Dont get me wrong getting your real estate license is great but i really dont think its as challenging. The reason why i know its not as challenging because they are way too calm when they say they passed the real eatate exam lol

FAR. Feb 2014 76
REG. Jan 2015 79 half way there!!
BEC. Feb 2015 79 thank you God!!
AUD. Apr 20, 2015 and will be done. Hold that thought 65, 7/14/15 85!
Ok where was I? Oh thats right now I'm Done!!!!!!!!!
Ethics 92!!

"You down wit SEC?, yeah you know me!!!"

Cali Candidate

All Becker Materials, Wiley Test Bank, Ninja audio, Ninja MCQ, Ninja Notes

[johnny_debt]

@leglock,

I agree the highest earning potential comes from RE license. Big 4 Partners or a VP in a private organization can get paid that much or more but it requires a lot of work.

The single greatest threat I can see coming to the RE license are from sites like RedFin which are offering real estate services for fractions of the commission a conventional RE person would earn. These sites look to undercut the commissions and that's a good thing since that would make homes more affordable. They can do this as they leverage technology to find a match for the potential buyer, hoping to earn revenues through volume. However the real estate business has significant lobbying which prevents businesses like RedFin from penetrating markets. This is analogous to how NJ car dealerships are lobbying to block Tesla's direct to market approach.

AUD - 91
BEC - 84
FAR - 91
REG - 91

[johnny_debt]

@leglock,

I agree the highest earning potential comes from RE license. Big 4 Partners or a VP in a private organization can get paid that much or more but it requires a lot of work.

The single greatest threat I can see coming to the RE license are from sites like RedFin which are offering real estate services for fractions of the commission a conventional RE person would earn. These sites look to undercut the commissions and that's a good thing since that would make homes more affordable. They can do this as they leverage technology to find a match for the potential buyer, hoping to earn revenues through volume. However the real estate business has significant lobbying which prevents businesses like RedFin from penetrating markets. This is analogous to how NJ car dealerships are lobbying to block Tesla's direct to market approach.

AUD - 91
BEC - 84
FAR - 91
REG - 91

[leglock]

I totally agree that technology is going to change the real estate profession. The one thing I've noticed tho is that in the more affluent area, homeowners are not inclined to do a for sale by owner. On one hand I think it is a status thing. On the other they don't like having to show there own residences to complete strangers It will be interesting to see how it plays out and as u mentioned the real estate lobby is going to influence legislation to attempt to protect realtor commissions. The one thing that makes me chuckle is that a realtors product is a house. Most know nothing about house construction and historically have just been people who have had access to the Mls. Agents who know house construction and know what an overland water route is or the difference between osb and Douglas fir can provide a great service to clients ESp buyers.

[leglock]

I totally agree that technology is going to change the real estate profession. The one thing I've noticed tho is that in the more affluent area, homeowners are not inclined to do a for sale by owner. On one hand I think it is a status thing. On the other they don't like having to show there own residences to complete strangers It will be interesting to see how it plays out and as u mentioned the real estate lobby is going to influence legislation to attempt to protect realtor commissions. The one thing that makes me chuckle is that a realtors product is a house. Most know nothing about house construction and historically have just been people who have had access to the Mls. Agents who know house construction and know what an overland water route is or the difference between osb and Douglas fir can provide a great service to clients ESp buyers.

[johnny_debt]

@leglock,

Another penalty for ‘for sale by owner' is that the owner in some areas have no access to MLS, again this is blocked by licensed realtors. MLS is nothing but a listing site, something so simple should be available for anyone to use. You can list a car on ebay, but you can't list a house.

Although I am a homeowner myself, I really hope RedFin starts picking up as I see a lot graduates finding it harder and harder to afford a home. Hopefully RedFin can provide a superior service while removing a lot of the middleman commission, thus ultimately lower the purchase price of a home making it more affordable.

The realtor's product is a service to sell a house. A house they would like to sell you, then once you own it they would like to sell it for you. They would like to recycle a sale on a house an infinite times if they could.

Sorry if I sound anti-real estate agents, which I am, I admit. To me the real estate agent business doesn't contribute anything to society and its services can be largely automated and commissions significantly reduced.

AUD - 91
BEC - 84
FAR - 91
REG - 91

[johnny_debt]

@leglock,

Another penalty for ‘for sale by owner' is that the owner in some areas have no access to MLS, again this is blocked by licensed realtors. MLS is nothing but a listing site, something so simple should be available for anyone to use. You can list a car on ebay, but you can't list a house.

Although I am a homeowner myself, I really hope RedFin starts picking up as I see a lot graduates finding it harder and harder to afford a home. Hopefully RedFin can provide a superior service while removing a lot of the middleman commission, thus ultimately lower the purchase price of a home making it more affordable.

The realtor's product is a service to sell a house. A house they would like to sell you, then once you own it they would like to sell it for you. They would like to recycle a sale on a house an infinite times if they could.

Sorry if I sound anti-real estate agents, which I am, I admit. To me the real estate agent business doesn't contribute anything to society and its services can be largely automated and commissions significantly reduced.

AUD - 91
BEC - 84
FAR - 91
REG - 91

[leglock]

I hear ya. In the past, the Realtor's purpose was to have access to the all important database, the MLS. To have all the listing data aggregated in one spot was the advantage of the Realtor. Without having access to the MLS, it was extremely difficult to conduct a proper search for a home when buying and have your home exposed to the masses when selling. The internet has changed all that.

For the most part, real estate agents know nothing about proper construction, yet the product they are selling is a house. Of course people use home inspectorr but at the point you've hired one, you may already have incurred legal fees, and the home inspector fee only to find the house you selected has some issues you don't want to deal with. Additionally, you may have lost time finding a better house when you were under contract with the house with problems.

to your point, the reason i got my re license is i'd build a new house and sign up with an agent so I could be listed in the MLS. Someone would call the agent and he would call me and tell me prospective buyers want to meet the builder. So he would show the house once and hand them off to me. I got tired of that real quick especially when seeing the commission.

In my area, on a new home, the permit fee is about 10,000, the realtor commission is about 35,000, the property taxes are 20,000, and construction cost are waayy up. because during the boom, many builders were tearing down an old home and putting up a new home on the same lot, some villages decided they were going to institute a tear down fee of about 7500. This fee was a just because fee. Just because you are making money in this boom, we are going to hit you with anothe ridiculous fee. Then the unions got involved and many villages required fire sprinkler systems in the house. There's another 10,000. So from my perspective, being a small independent builder is no longer worth it, and the re agent may be phased out.

[leglock]

I hear ya. In the past, the Realtor's purpose was to have access to the all important database, the MLS. To have all the listing data aggregated in one spot was the advantage of the Realtor. Without having access to the MLS, it was extremely difficult to conduct a proper search for a home when buying and have your home exposed to the masses when selling. The internet has changed all that.

For the most part, real estate agents know nothing about proper construction, yet the product they are selling is a house. Of course people use home inspectorr but at the point you've hired one, you may already have incurred legal fees, and the home inspector fee only to find the house you selected has some issues you don't want to deal with. Additionally, you may have lost time finding a better house when you were under contract with the house with problems.

to your point, the reason i got my re license is i'd build a new house and sign up with an agent so I could be listed in the MLS. Someone would call the agent and he would call me and tell me prospective buyers want to meet the builder. So he would show the house once and hand them off to me. I got tired of that real quick especially when seeing the commission.

In my area, on a new home, the permit fee is about 10,000, the realtor commission is about 35,000, the property taxes are 20,000, and construction cost are waayy up. because during the boom, many builders were tearing down an old home and putting up a new home on the same lot, some villages decided they were going to institute a tear down fee of about 7500. This fee was a just because fee. Just because you are making money in this boom, we are going to hit you with anothe ridiculous fee. Then the unions got involved and many villages required fire sprinkler systems in the house. There's another 10,000. So from my perspective, being a small independent builder is no longer worth it, and the re agent may be phased out.

[Texan_Stuck_In_OK]

Hubs and I own two rental properties now. He is about to deploy overseas for a year but were planning to get more into the flipping/rehab for cash flow when he gets back. A great resource we use is biggerpockets.com.

A 88, B 76, F 84, R 76 Passed 2014

Licensed in OK

[Texan_Stuck_In_OK]

Hubs and I own two rental properties now. He is about to deploy overseas for a year but were planning to get more into the flipping/rehab for cash flow when he gets back. A great resource we use is biggerpockets.com.

A 88, B 76, F 84, R 76 Passed 2014

Licensed in OK

[Author]

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