|
The Dirty Game of Real Estate (pg. 5)
|
View this Thread in Original format
| Joss Weatherby |
| quote: | Originally posted by ak87
A fully licensed hvac technician makes $110000 a year before taxes... add in any cash jobs..... y the f**k would u go into the dog eat dog world of real estate |
Cause the perception of bling vs actual bling. |
|
|
| Nrg2Nfinit |
| quote: | Originally posted by ak87
A fully licensed hvac technician makes $110000 a year before taxes... add in any cash jobs..... y the f**k would u go into the dog eat dog world of real estate |
because if you spend 35 minutes of actual work time and sell a 5 million dolalr house, you bring in 125,000$ before tax
now calculate that out to an hourly rate. |
|
|
| Joss Weatherby |
| quote: | Originally posted by Nrg2Nfinit
because if you spend 35 minutes of actual work time and sell a 5 million dolalr house, you bring in 125,000$ before tax
now calculate that out to an hourly rate. |
Yea, but HVAC is more fun. |
|
|
| Halcyon+On+On |
| Did you go to school for CAD, Eric? |
|
|
| Vivid Boy |
I have done CAD courses but with residential HVAC design you don't need CAD. People who do Mechanical Engineering for large buildings need the CAD certificate. There are people that still do it by hand.
Heat Gain/ Heat Loss calculations are quite simple as long as you know the exact R Value of the materials being used.
That being said I had an HVAC business designing heating/vent systems for resi homes. It was way too boring for me. I enjoy the marketing/Business shaking hands kissing babies part of Business. Real Estate definitely is 80% that and 20% homework.
I got into Real Estate from construction and design because I wanted to learn the market and master the art of negotiation and marketing. I want to start building at some point. Right now I'm Building up capital with Real Estate and the flexibility allows me to continue my studies. Not to mention I get to apply everything I learn in school to my business so I feel like I absorb the info soo much better then the rest of the people in my classes.
I'm at University 3 nights a week after 7pm. Its a slow process but I was already asked if I wanted to fast track and apply for my MBA right away due to my business experience. I Haven't decided yet if I want to do that or stick out the last year and a half of my undergrad studies.
Going to school at an older age is sooo much better. All I did in College in my early 20's was smoke weed, drink beer and hooked up with girlies. |
|
|
| Looney4Clooney |
yup.
Telling them not to buy even if you have good intentions isn't always being a good agent. You tell them the facts, you feel them out and find out how they feel about it and you support their decision. Although maybe that is what you did. How did the actual client feel ? |
|
|
| Vivid Boy |
| quote: | Originally posted by Looney4Clooney
yup.
Telling them not to buy even if you have good intentions isn't always being a good agent. You tell them the facts, you feel them out and find out how they feel about it and you support their decision. Although maybe that is what you did. How did the actual client feel ? |
These clients are investors. To them its all about numbers. I didn't lose the client just lost the deal.
Then again I pulled a move and a half on Monday to get a condo sold I had for sale. It was sitting on the market for a while. Unfortunately condo moraket slowed down a bit and there was an over supply of 1 bedrooms + Dens. We were priced well but there was just too much inventory and not enough buyers. So I took the condo off the market and relisted it at 30 grand under market value. Got 6 offers and got them to bid eachother up to the price point we were looking for.
Everyone was happy :) |
|
|
| Nrg2Nfinit |
do you have anything decent and new for 315 or less?
i'm looking. |
|
|
| Joss Weatherby |
Do you like selling condos Vivid? Is it a bitch dealing with condo associations?
On a somewhat related note, I never liked the idea of buying a property where you have a board that can punish you for things. :p |
|
|
| Dykes_on_Jay |
| quote: | Originally posted by Joss Weatherby
Do you like selling condos Vivid? Is it a bitch dealing with condo associations?
On a somewhat related note, I never liked the idea of buying a property where you have a beard that can punish you for things. :p |
|
|
|
| Beatflux |
| quote: | Originally posted by Vivid Boy
Stu in Canada, one agent represents the seller and one agent represents the buyer in a transaction. The 5% commission is split 50/50 among the two agents.
your average house is $500 000 here so after your 50/50 split you take home $12 500 before taxes.
In this transaction I was representing the buyer, who decided to put an offer on a house for sale. So we registered the offer and the selling agent advised me that there was another offer and we will be in a multiple offer situation. I went back to my clients and went over the comparables and even broke down the price to a price per sqft in the area. The house no matter how you looked at it was not worth the money. I told them this is how much it is worth and I will not let you overpay for it. So we put in an offer with our best foot forward because we were in competition. I sat down with the sellers and their agent and broke down all the work I did and explained why we came in at this price and why we would not be willing to come up any higher. They couldn't say anything back or argue because the facts were in front of their faces. I did my homework and I did it well.
Anyways the other buyer agent comes in after me and gives them full asking price and they accept it. no . Now i dont blame the sellers for accepting a high offer. I blame the in goof ball agent of the other buyers, who didnt even bother doing his homework and probably just found a way into bullting his clients into a full asking price offer.
Like I said you're better off just being a sleazebag in this industry.
and its fine I do pretty well at this job, its just bloody frustrating and I believe it should take a lot more then just 1 yr of studying to be able to get your license. |
Did your buyers still want to put in full price for the property after you talked to them? |
|
|
| Nrg2Nfinit |
| quote: | Originally posted by Looney4Clooney
yup.
Telling them not to buy even if you have good intentions isn't always being a good agent. You tell them the facts, you feel them out and find out how they feel about it and you support their decision. Although maybe that is what you did. How did the actual client feel ? |
The opposite is even worse, agents pushing you to buy and push the price up to you so they can get the sale in quick.
99% of the time it works like this
you get an agent to help you buy: bid high bid high
you get an agent to help you sell: ask low ask low
They are in it to get their commission QUICK and leave. IF they can do this by actually letting you believe that the price they are pushing you to place is worth it. Bonus. |
|
|
|
|
