General Real Estate Questions/Advice

#1

VolMax

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#1
I have seen lots of real estate questions in various threads in The Pub. I am one of many licensed Realtors that are pretty active on VolNation and am happy to help any VolNation brothers and sisters with any real estate questions. I sure I'm not the only one.

I thought a thread specifically for questions/advice might be helpful and Freak agreed..so here it is. My idea is for agents to give a short description of their business and experience so we can all get a feel for who knows what.

Please make questions as detailed you can since just about every situation is unique.

I am a Keller Williams agent in Chattanooga and have been licensed since 2003. About 75% of my business is retail residential...plain old buying and selling houses. I work with both families and investors...relocation, move ups, empty nesters, etc. I have also done several short sales (from both sides). The rest of my business is land and development.

I hope as the thread grows, we will be a good resource for each other.

Thanks and GBO!
 
#2
#2
Sure I've got a question. Disclaimer. I live nowhere near you (in NC) and I'm genuinely curious. Who do you refer your clients to for mortgages? And why did you pick this person?
 
#3
#3
Sure I've got a question. Disclaimer. I live nowhere near you (in NC) and I'm genuinely curious. Who do you refer your clients to for mortgages? And why did you pick this person?

I have a couple of people that I recommend for mortgages. I don't push too hard as long as buyers are working with a local originator. Out of town lenders can create a very difficult situation (and sorry to call anyone out, but QuickenLoans has created more than one nightmare for clients).

The only reason I recommend the ones I do is that they have consistently delivered quality service with no surprises - the whole under promise/over deliver principle. If clients have their own local lender, I am fine with that. If something is not getting done, I can personally go to their office and add motivation as needed. If clients insist on using an out of town lender, I explain this to them and that I have no leverage...they are on their own.

That is also why I prefer certain title companies. If something is not being done as it should, they will give me a heads up.

I will say that one of my go-to mortgage guys told me just last week, that he's sick of getting hit up by agents trying to get him to "sponsor" (pay for) their websites in order to get referrals. So I guess it's possible that agents may refer a lender for different reasons...but I don't. I would rather know I have a smooth transaction and pay for my own website.

Hope that gives you some insight.

Are you getting referred to a particular lender or are you in the business?
 
#4
#4
How is the market right now? Gonna sell my joint and get another in the spring. Been out looking and the houses I have been looking at seem a tad over valued.
 
#5
#5
How is the market right now? Gonna sell my joint and get another in the spring. Been out looking and the houses I have been looking at seem a tad over valued.

I am in 'Nooga so Johnson City folks feel free to comment.

Chattanooga is doing very well, as are Knoxville (even better) and Nashville (silly hot)...so I would imagine JC is doing well too.

When do you think you will put yours on the market?
 
#7
#7
I have a couple of people that I recommend for mortgages. I don't push too hard as long as buyers are working with a local originator. Out of town lenders can create a very difficult situation (and sorry to call anyone out, but QuickenLoans has created more than one nightmare for clients).

The only reason I recommend the ones I do is that they have consistently delivered quality service with no surprises - the whole under promise/over deliver principle. If clients have their own local lender, I am fine with that. If something is not getting done, I can personally go to their office and add motivation as needed. If clients insist on using an out of town lender, I explain this to them and that I have no leverage...they are on their own.

That is also why I prefer certain title companies. If something is not being done as it should, they will give me a heads up.

I will say that one of my go-to mortgage guys told me just last week, that he's sick of getting hit up by agents trying to get him to "sponsor" (pay for) their websites in order to get referrals. So I guess it's possible that agents may refer a lender for different reasons...but I don't. I would rather know I have a smooth transaction and pay for my own website.

Hope that gives you some insight.

Are you getting referred to a particular lender or are you in the business?

Just got my license. I'm in finance but not mortgages. considering making the switch since I'm licensed now but trying to decide the best entry point/where to find business.

Was told that a MLO spends most of his time 'realtor chasing' and I'm curious to know if that's true
 
#8
#8
I'm just outside of Memphis and hoping I can sell next year. We bought our first house in July 2008, literally the worst possible time to buy, and are praying we can get out without bringing cash to closing. Any Memphis or Fayette county agents on the board?
 
#9
#9
Do you like 10-31 exchanges?

Absolutely. I am closing on two of them this month.

I don't understand why more folks don't take advantage of them. I realize the rules seem complicated to some, but considering the savings of a well-executed plan, they are a no-brainer to me.

Who do you use as your intermediary?
 
#10
#10
Just got my license. I'm in finance but not mortgages. considering making the switch since I'm licensed now but trying to decide the best entry point/where to find business.

Was told that a MLO spends most of his time 'realtor chasing' and I'm curious to know if that's true

Some do. It just depends on your business model and where you work. A desk at a good retail branch can catch a lot of walk-ins. The key to me is to be available and very thorough. Nobody likes surprises at the closing table.
 
#11
#11
I'm just outside of Memphis and hoping I can sell next year. We bought our first house in July 2008, literally the worst possible time to buy, and are praying we can get out without bringing cash to closing. Any Memphis or Fayette county agents on the board?

What city/town are you in?
 
#13
#13
When the paper advertises a million dollar producer. How much did that realtor actually make?
 
#16
#16
We would like to move out in the country more. Maybe between Oakland and Somerville.

ATC as in ATC Fitness?

Cool. We moved from Cordova to Oakland last year.

No, Air traffic control. Do you know when the ATC fitness is supposed to get built though? I've heard commercials for it.
 
#17
#17
Cool. We moved from Cordova to Oakland last year.

No, Air traffic control. Do you know when the ATC fitness is supposed to get built though? I've heard commercials for it.

I've heard November or December. We like Oakland just over having neighbors. We bought in 2008 when there was just 3 of us. 2 more kids and 3 pets later we have completely outgrown our 3 bedroom house. We'd like to find 3-5 acres and build.
 
#18
#18
That sounds great. I'd like to retire on some property that size. We're currently in the process of building what will be the first home we own.
 

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