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Smart Agents Add Investing and Management to Their Skill Set - 2009-09-27 |
Real estate sales is one of the most stressful jobs I can imagine.
First there's the buyer. They begin their pursuit of the perfect house by demanding unrealistic prices and unavailable loan programs. And if anyone should hint that the seller is pushing back on a low offer, well, let's just wait until next year to make this purchase.
Next is the seller, who expects the agent to make a silk purse out of a sow's ear - literally. Many a seller today has largely given up on a sale anytime soon and is, more or less, testing the waters. If a buyer comes along who is willing to pay the price, then so be it. But there's not much urgency to make a sale.
And both sides of the deal expect the agents to be available 24/7 for consultations, showings, information and even personal advice.
Add to the mix a flurry of lowball deal-killing appraisals lately and the looming expiration of the very successful first-time homebuyer tax credit, and it hardly pays to stay in the real estate sales business today.
That's why the Georgia Association of Realtors has seen a dramatic loss of membership. At year end 2007, the GAR boasted 48,244 Realtors. Today, that number has dropped to 33,716, and that doesn't reflect the agents who have "parked" their license at a broker of convenience until the market improves.
Savvy agents are doing more than just twiddling their thumbs. Many are adding investing and property management to their skill sets.
There are compelling reasons to do this now:
* While the residential purchase and sale market has dwindled, the rental market has expanded. Amateur landlords are having to compete with a greater selection of rental homes than ever before, and staying occupied during a recession is more important than ever. A good property manager will minimize vacancy.
* Some owner-occupants facing tough times have decided to move in with friends or family and try to rent their house rather than go into foreclosure. Their strategy is to use the rent to help make the monthly payments, thus protecting the equity in the house.
Full service rental agents know that the key to success in today's rental market is much more than just a sign in the yard. Instead, it's knowing how to get the available rental in front of the maximum number of prospects quickly, and that means the Internet. Inexperienced owners are unlikely to produce the same rental results as an agent who has been down this road before. And finally,
* Because they are positioned to see the best deals first, many agents are dipping into personal savings to purchase rental houses at prices we have not seen in decades. Because they are in the industry, they know values, and believe we won't see these deals again, especially on bank-owned homes. They plan to rent these houses now and hold on for the recovery.
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Upcoming Events
"EPA CERTIFIED RENOVATOR" TRAINING
Do You Work with Real Estate? You Must Be LEAD SAFE CERTIFIED as of April 22nd.
To all owners, realtors, investors, property managers, contractors, electricians, plumbers and painters. Do you ever engage in any level of renovation? If so, read this:
Any renovator, from owners to contractors, from plumbers to electricians to painters, who disturbs lead paint while working in a pre-1978 home, school or day care center, now must be Lead-Safe Certified. If you’re not, you can face tens of thousands of dollars in fines. Plus, you put the health of yourself, your workers and your customers at risk, which could result in lawsuits. One simple 8 hour class certifies you for five years. It’s that easy.
Since April 22, 2010, there are new Federal rules regarding how you perform any work that disturbs lead-based paint in homes, child-care facilities and schools built before 1978. You now must be EPA certified and follow specific work practices to prevent lead contamination.
Failure to follow the new rules can result in federal fines of up to $32,500 per day or up to 5 years in federal prison, or both. Don’t take a chance - it’s not worth it.
How To Become an EPA Certified Renovator:
In just one day, John Adams will teach you how to meet all EPA requirements and become an “EPA Certified Renovator.”
Don’t wait - register now! Click on “Seminars” and choose your day!
- Friday, July 30th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 06th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 13th at Suburban Plaza, 2643 North Decatur Road and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 20th at Suburban Plaza, 2643 North Decatur Road
and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
- Friday, August 27th at Suburban Plaza, 2643 North Decatur Road
and Church Street, Decatur , Lower Level, beneath Hancock Fabrics
8:30 A.M. to 5:30 P.M.
Total Course Cost: $295, includes exam and EPA-HUD 400 page manual
Space is limited to 20 participants.
Training services provided by Seagull Environmental Management Co, Inc.
Courses are approved for purposed of certification under Section 402 of TSCA for the Certified Renovator.
This course has been approved by the Georgia Real Estate Commission for 7 hours of Real Estate Continuing Education
For more information, call toll-free 888-373-0029
Click above on the "Seminars" button to register
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John Adams Presents
“The MetroVestAtlanta.com REO Bus Tour”
Get on the bus for a tour of South DeKalb County’s “Real Estate Owned”
homes. Each house you visit will be available that day for purchase at
a giveaway price, regardless of current condition. Financing is
available!
Throughout the day, we will hear from mortgage providers, people in the
construction business and property managers all discussing today’s
situation with Bank Owned REO properties.
Who Should Attend: Investors, Realtors, Lenders, Prospective Buyers, and
anyone who might want to buy a super-bargain house and either do the
rehab themselves or have all the work performed by the pros.
You will see abandoned dumps and finished products, and everything
in between. And Snap will be there to answer all your questions and
explain the rehab and rental strategies.
Saturday, August 21st, 9:30 AM to 4:00 PM
Your $49 fee includes the bus tour and lunch. You must make reservations. No walk-ups.
There is limited seating and the seats are filling fast. ACT NOW before you miss the bus.
We will be meeting at Suburban Plaza, 2643 N. Decatur Road and Church Street, Lower Level, Decatur 30033 (beneath Hancock Fabrics, in the arcade.)
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