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vballdarin

I'm DONE being a Realtor!

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Time to blow off a little steam. (I figured that the Corner Bar was the best place for it)

 

Tomorrow i'm going to see my Broker and tell him thank you for the opportunity for allowing me to try to hang my license with his company and try to be an Investor at the same time. Unfortunately, I am no longer willing to adhere to our Hilton Head Association of Realtors or his Brokerage's rules, regulations, and confinements. I will also be telling him that I do not want to be associated with the National Association of Realtors in any way, shape, or form POST HASTE!

 

I've had to jump through too many hoops and answer to too many people that know less about Real Estate or Investing than I do. It's hard to soar like an Eagle when your surrounded by a bunch of Turkeys.

 

The best analogy I can come up with, is for someone to tell you that you can drive their really nice car any time you want....BUT.....you can only drive in a straight line, you have to keep it under 35MPH, you're not allowed to roll down the windows, you can only use the headlights if you have someone else turn them on for you, you're only allowed to listen to 1 radio station at a certain level, you can only have passengers in the car if they are approved by the owner of the car in advance, and the the cost of filling it up the gas tank while I use it is going to be $9.50 per gallon. B) What's the point?

 

There were only 2 reasons to keep my license.

1) Being able to do my own research and comps:

TRUTH: Is it really worth $1800 per year to do it myself? With 1 phone call i can have someone else do it.

 

2) Hoping that people would see me as more legitimate and professional because I had my license:

TRUTH: I've had to answer more questions and make more adjustments BECAUSE I was licensed. Not one person i've ever talked to said that they were more comfortable in dealing with me because I had a license.

 

I look forward to dealing with the public and all those stories that i've read about on the forum who say they are going to call the FBI or the Real Estate Police because this or that. Those petty people who accuse us of doing deals illegally or brokering w/o a license will be a piece of cake. NOTHING WILL BE AS DIFFICULT AS HANGING MY LICENSE WITH A BROKERAGE AND DO MY OWN INVESTING AT THE SAME TIME.

 

Thanks to all of you who have tried helping me on my "Quest" to do both. I'm going to be free to spread my wings and join MC and all the rest of you.

 

My little rant/hissy fit is now over.

 

 

Say Goodnight Gracie................. ^_^

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Congratulations! breaking free from regulation and monopolies from those who hold you back. Welcome! to Capitalism, now you can breath the fresh air! Freedom!

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Darin,

 

I have been licensed for 10 years. Before you chuck the license give me a call and lets chat about it. Sure mabe your broker is a turd and maybe your association is not so friendly with fees. But before you throw that license away give me a call.

 

Some investors don't like real estate agents is because they themselves think they are above and beyond what they really know about themselves.

 

I come from the side if I can't buy it. I will list it.

 

What questions did you have to answer? What adjustments did you have to make?

 

When I tell people that I am an agent they just say ok. I don't make a case out of it. I am here to BUY not SELL there home.

 

Just my thoughts.

 

But do give me a call 772-321-2290

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Hey there JR...

 

Sorry....Took care of it at 9:00 am this morning. ^_^

 

I understand your point of view that if i can't buy it i'll list it. Problem is that I don't have the time to devote to giving good client level services for a listing, on top of working 4-5 days a week as a Caddy and then working 4-5 nights a week as a waiter, all at the same time i'm trying to advertise as an Investor and return calls and emails. I would also have to battle the other 900 Realtors that live on our 12mile by 5mile Island (I would probably make $15,000per year in commissions if I went full time as a Realtor).

 

I'm running out of hours in the day. I'm back to working from 8:00am till 10:00pm six days a week. I don't see any of my friends(don't have too many of those anymore), go to the gym, or have any free time for myself. The LAST thing I have time for is to babysit some guy's/woman's condo that wants more than the actual value.

 

And I'll also be the first to admit that I not an expert when it comes to Real Estate Investing. I try to learn 1 new thing every day and listen to as many different points of view before coming to my own conclusions/decisions. That's why I LOVE this forum so much. B) Maybe it's a good ideal for me to ditch the license....Maybe not. But i'm going to make this decision and stick with it....Right or Wrong, Mistake or Not. Only time will tell.

 

Questions I had to answer:

Q: How are you going to pay the commission to Keller Williams when you do your "deals"?

A: If I'm buying an investment property from a FSBO then there IS no commission to anyone...etc, etc.

Q: But you HAVE TO go through Keller Williams for everything you do.

A: Um....No i don't. It doesn't meet the criteria that you have set forth in your "Personal Transaction Policy"

Q: Well, I don't know about that. That seems to be toe-ing the line don't you think. You need to go talk to the Broker before you do each deal, etc, etc.

 

--------------------------------------------------------

Keller Williams Realty Hilton Head Island

 

Keller Williams Personal Primary Residence Transaction Policy ***(NOTICE THAT IT SAYS PRIMARY RESIDENCE!!!!!!!!)

Policy and Procedure

 

 All Agents have the opportunity to earn up to 2 personal sides per capping year for which zero Company Dollar will be collected.

 "Personal Primary Residence Transaction" is defined as any transaction with the agent's name on the Property Deed or the Transaction Contract that is their primary residence***(BUT IT'S AN INVESTMENT PROPERTY!!!!***). This will include any entity on the contract of which the agent is a principle or member participant.

 Once the agent has paid in $6,000 in Company Dollar he/she will earn the first personal transaction.

 Once the agent has paid in $12,000 in Company Dollar he/she will earn the second personal transaction.

 For agents who have either capped in their prior anniversary year or for recent transferees who have sold at least $2.7M in closed volume in the last 12 months, the 2 personal transactions can be used at any time within their subsequent anniversary year without regard to the Company Dollar paid in.

 Once an agent has met the above qualifications and IS NOT receiving a commission, they do not have to pay royalty. If the agent IS receiving a commission, even though they do not owe company dollar, they WILL owe royalty.

 Once an agent has used 2 personal transactions, if he/she has not yet capped and would like to represent himself/herself as a listing agent on one or more personal properties, he/she must pay Company Dollar based on a 3% listing side commission. Buying side transactions are to be based on full commissions (minimum 3%) paid for calculating Company Dollar.

 For liability purposes, all Personal Deals must be processed through the Market Center's system, regardless of whether or not commissions are earned. ***(YEA, RIGHT....NO WAY JOSE')

--------------------------------------------

 

Q: I notice that you don't disclose your affiliation to Keller Williams on your website?

A: It's not MY website. It is the LLC's website. I just do deals with the LLC. And i've mentioned on the website that i'm licensed. That's all I need to disclose.

Q: No it's not. You need to say your an agent with Keller Williams.

A: I"m not doing deals as an agent. I'm the principle in the deals and I hold the properties in the LLC.

Q: So you hold monies in escrow with your LLC? That's Dealing as a Brokerage and you don't have a brokers lic.!!

Is this LLC even registered with the state and do you have your business license to do this in Hilton Head?

A: OK, listen here........ #*%(#@&$()&_*_^$#@(^_&%*#@&$%^^)^($#*%)&_*+&*)%*$#*.

 

and these conversations have occured weekly. I'm mentally spent trying to appease everyone and anyone. AND I HAVEN'T EVEN GOTTEN MY FIRST DEAL COMPLETED YET!

 

JR....your a better man than I. Something i've really started to learn lately is this quote: "I don't know the key to success, but the key to failure is trying to please everybody."

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Okay I see you are spread too thin with other activities which is understandable and you have a ANAL BROKER.

 

I would have jumped to a smaller office in a heart beat. Find a mom and pop broker firm.

 

I am with a GMAC franchise and I don't have those problems you are having with the broker.

 

But I see you are working all kinds of hours in other activities also.

 

You said Better man?....nah. I just take things as they come and don't let anyone set my own expectations.

 

Each morning I get up I say. This is the day the Lord has made and I will rejoice and be glad in it. I thank God that I am alive each day. Then my feet hit the floor and the race begins.

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..Each morning I get up I say. This is the day the Lord has made and I will rejoice and be glad in it. I thank God that I am alive each day. Then my feet hit the floor and the race begins.
Jonathan, how refreshing to read this first thing this morning.. thanks for sharing it.. You made my day early.

This is the very same phrase I say every morning before praising God each day for the past 10 yrs.

Amazing things happen to us when we say that phrase from our heart. B)

 

 

BEV!

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Darin, I know it's been a struggle for you since we first met. I also know how hard you've worked at this, along with the other activities you're using to make ends meet. As for the license issue, it's your call and I trust you've given this much thought and will make the right decision. If it were me I would have blown that office off a long, long time ago. I never had the mindset for office politics and walking in lockstep with company policy. Always grated on my nerves. With that said, I still believe in you and your ability to make this business work for you. So stay with it, try different things, talk to different folks, come here for whatever advice and help we can offer, give thanks for what you do have, which we all have a tendency to take for granted.

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Thanks Ya'll.

 

As long as I'm able to wake up each morning, open my eyes, breathe, roll out of bed, and walk to the kitchen.....How bad can it really be? There are people who can't even do those things.

 

Just like Jimmy Valvano (Former NC State Basketball Coach) said:

 

“To me, there are three things we all should do every day. We should do this every day of our lives. Number one is laugh. You should laugh every day. Number two is think. You should spend some time in thought. And number three is, you should have your emotions moved to tears, could be happiness or joy. But think about it. If you laugh, you think, and you cry, that's a full day. That's a heck of a day. You do that seven days a week, you're going to have something special.”

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