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Good-By Corporate RE


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#1 <Steve>

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Posted 11 December 2015 - 04:04 PM

Hey All-

 

Good News! After one year I'm breaking away from Corporate RE firm and going back on my own!

 

I'm going with a national "virtual" brokerage and keep 100% of what I make.  No longer will I have a corporation's hand in my wallet.  And I only have to answer to God and big brother.  I can use my company's name brand and have access to tons of stuff for marketing, e-sign, cloud storage, contracts and so much more with an online back office.

 

Most important, I will also be able to structure deals without the traditional corporate restrictions of a big box RE firm.  They are my deals and not the firms.  This should allow me to get more business and more deals, and that's a good thing.

 

Should be fully rolled out by the first of the year.  With this, I will be more a Licensed Investor and less a realtor in my business model.  :)


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#2 MichaelC

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Posted 11 December 2015 - 06:01 PM

Hey All-

 

Good News! After one year I'm breaking away from Corporate RE firm and going back on my own!

 

I'm going with a national "virtual" brokerage and keep 100% of what I make.  No longer will I have a corporation's hand in my wallet.  And I only have to answer to God and big brother.  I can use my company's name brand and have access to tons of stuff for marketing, e-sign, cloud storage, contracts and so much more with an online back office.  Free!

 

Most important, I will also be able to structure deals without the traditional corporate restrictions of a big box RE firm.  They are my deals and not the firms.  This should allow me to get more business and more deals, and that's a good thing.

 

Should be fully rolled out by the first of the year.  With this, I will be more a Licensed Investor and less a realtor in my business model.  :)

Back in the fold, baby!  Where you belong.  That's the correct business model for you.



#3 Chris_MA

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Posted 12 December 2015 - 05:00 PM

What's the name of the brokerage?



#4 <Steve>

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Posted 14 December 2015 - 01:41 PM

What's the name of the brokerage?

Chris, my brand is Triad Management & Realty; the brokerage where I will hang my license is The Virtual Realty Group.


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#5 Chris_MA

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Posted 15 December 2015 - 07:39 PM

 

What's the name of the brokerage?

Chris, my brand is Triad Management & Realty; the brokerage where I will hang my license is The Virtual Realty Group.

 

Nice, that's who I'm with as well!



#6 <Steve>

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Posted 15 December 2015 - 07:54 PM

LOL!  That's funny Chris, I've been trying to speak with others who know about Virtual.  I think in the Triad there is only 1 maybe 2 brokers with them.  How do you like it?  Any Pros - Cons?


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#7 Chris_MA

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Posted 19 December 2015 - 12:08 AM

I love it... It's perfect for investors since it's inexpensive (as far as dues and commission splits or fees) and hands-off (you're on your own to run your business how you like), if you were a newbie looking to make a career in retail real estate I would say to find a KW or Allen Tate office for the training, resources, and brand recognition. I tried that route (big name brokerage) as a wholesaler and it's a totally different story. That's why the VRG rocks. :-)

 

There are a good number of brokers with VRG here in Charlotte, I see yard signs when I'm out driving around.  There's not much name recognition (i.e. zero) when you tell a seller (or buyer) that you're with the Virtual Realty Group. That's fine with me though! 



#8 MichaelC

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Posted 19 December 2015 - 08:14 AM

I must confess ignorance about VRG.  Sounds like a good fit for any investor-agent.  Emphasis investor

Oh, and Steve, sorry about my boys in Big Blue ending Panther dreams about an undefeated season.  Ask the Patriots. . .



#9 Chris_MA

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Posted 20 December 2015 - 09:44 PM

VRG is growing, I think they're in 15 or 16 states now... they cater to the "independent-minded" agents, which is great for investors.

They get a flat fee rather than a percentage of the commission that you get paid as an agent, and while they do offer online resources and training, it's somewhat limited. They don't require you to participate in any specific training other than what's required by the licensing board though, which is cool.

I interviewed one of the big name brokerages in town when I first got my NC license and they have an intensive 4 week training that all their agents go through and they have specific requirements of daily/weekly/monthly activity which is great if you're goal is to list houses and receive commissions, not so much if you're flipping houses or contracts. In exchange for the extra training, and the cost of running a physical office, they take a fairly significant percentage of your commissions until you reach a certain point where they start taking less, where the VRG is a virtual office with less overhead and fewer resources available, but they only take a couple hundred dollars from your commission rather than up to 30 or 40% or whatever the big retail brokerages start a new agent off at.


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#10 <Steve>

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Posted 22 December 2015 - 12:27 AM

I must confess ignorance about VRG.  Sounds like a good fit for any investor-agent.  Emphasis investor

Oh, and Steve, sorry about my boys in Big Blue ending Panther dreams about an undefeated season.  Ask the Patriots. . .

Ahh MC, I think you spoke to soon.  :P   14-0  baby!

 

 

Chris thanks for the reply.  I spent 1 year with the big box brokerage and I did the training, paid heavily for their brand and never used their facility.  I just left and they tried to squeeze extra fees out of me and I had to maneuver to get my listings away from them.  Left a bad taste for me.

 

Still most of what I do are Lease Purchase deals and they get on the MLS.  For me it was learning their game, getting inside, and now breaking away to do my thing.  ^_^


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#11 MichaelC

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Posted 22 December 2015 - 08:46 AM

 

 

Ahh MC, I think you spoke to soon.   :P   14-0  baby!

Yeah. . .at least Little Blue kept it close.  Tough times to be a Giants fan. . . :angry:


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#12 Chris_MA

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Posted 23 December 2015 - 04:06 PM

 

I must confess ignorance about VRG.  Sounds like a good fit for any investor-agent.  Emphasis investor

Oh, and Steve, sorry about my boys in Big Blue ending Panther dreams about an undefeated season.  Ask the Patriots. . .

Ahh MC, I think you spoke to soon.  :P   14-0  baby!

 

 

Chris thanks for the reply.  I spent 1 year with the big box brokerage and I did the training, paid heavily for their brand and never used their facility.  I just left and they tried to squeeze extra fees out of me and I had to maneuver to get my listings away from them.  Left a bad taste for me.

 

Still most of what I do are Lease Purchase deals and they get on the MLS.  For me it was learning their game, getting inside, and now breaking away to do my thing.  ^_^

 

 

I haven't done lease-options since moving to NC, are you listing them as an agent or getting them under contract as a principal and then listing them on your own behalf? Sandwich deals that you hang on to or are you plugging buyers in and selling them your contract?



#13 <Steve>

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Posted 23 December 2015 - 09:46 PM

Chris-

 

My business model for CAs and SLOs is basically the same as what we do here on the Naked.  The only difference is the paper work and my position in the deal as a broker.


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