Real Estate Referral: Fill & Download for Free

Considering $2 Million won't buy much real estate in NYC, and considering my occupation as a broker, I would use it to develop and market a portal that connects buyers/tenants and sellers/landlords with brokers who are best qualified secure their interests. In other words, a real estate referral service.

I write from the perspective of an experienced real estate attorney. I've handled thousands of transactions, often representing clients in transactions involving no real estate agents.These are invariably the most difficult transactions to get to the closing table. Buyers without agents are significantly less apt to follow the contract's timeline for applying for financing, performing inspections, etc., often finding themselves in a pickle when these contingencies are removed from the contract, deemed satisfied by the passage of time. Sellers, too, are more prone to dropping the ball in terms of timely providing payoff information, cooperating to address title issues, obtaining HOA disclosure documents, termite/septic inspections, etc.Although I have compiled no data, I can say from my own experience that transactions without agents seem significantly more likely to result in a lawsuit for breach of contract or specific performance than do transactions involving agents.I have seen this so many times: The relationship between the FSBO (for sale by owner) sellers and unrepresented buyers starts off wonderfully--coffee around the kitchen table, talk about the "win-win" they've pulled off (the savings in commission that will be passed along to the buyer in terms of a lower purchase price), talk of the sellers' satisfaction in finding such great new friends who will love the house as much as they did, ink drying on the contract just printed from the internet--high-fives and warm-and-fuzzies all around! Call me cynical, but based on my experience, I'm more inclined to see these folks as "future litigants" rather than "newfound friends."In addition to the inherent complexities of even the most run-of-the-mill real estate transaction and the tremendous financial stakes involved, real estate transactions are emotional. You're not dealing with a lawn mower, a refrigerator, or some other fungible good, you're dealing with someone's home--a place where the seller's memories were made and where the buyer wishes to make new ones. This is a highly personal transaction, and the potential for doubt, insecurity, second-guessing, mistrust, defensiveness, cold feet, confusion, paranoia, and, therefore, conflict is extremely high. The role of realtors throughout this process is invaluable.Previous answers to this question have established realtors as valuable in terms of marketing, negotiating, etc. And I'm all in agreement. Here, I'm specifically addressing the role of the realtor as shepherd, conductor, taskmaster, educator, diplomat, manager of expectations, and buffer between parties whose interests are potentially, if not highly likely, to be incompatible. The advent of the internet will not, in my opinion, diminish the true value of the real estate agent in this regard.In fact, now that the home selection process is arguably more efficient due to internet tools, perhaps this presents a new opportunity for motivated real estate professionals to deliver even more value by sharpening their focus on those other vital services (apart from showing houses) that contribute to a higher closing rate, greater customer satisfaction, and, thus, a greater number of referralsAre real estate agents becoming obsolete? No. I foresee an expansion, not a contraction, of the role of the real estate agent in our future, assuming this opportunity is seized.

I think one of the largest ‘disadvantage’ if there are any, are some of the learning curves that come with real estate as well as personal psychology.Here is a breakdown as to what I mean:**Discipline:** You need to be able to have the discipline to work on a schedule without being pushed or someone asking you for results. Without personal discipline and structure it can quickly become difficult to get into a routine that is productive and will yield results. Especially given that real estate is not a 9–5 job, you will be working weekends and weeknights, when clients are off work, so you have to be prepared to create a schedule for yourself that works, without sacrificing your life, forever. This in itself is a skill to master and can be done so by working smarter, not harder.** Confidence: **There is a big difference between ego and confidence, and when starting in real estate it can be hard to maintain confidence if you don’t have experience or credibility. Rejection is a natural part in real estate, ranging from client conversion to negotiations, so you will have to be prepared to combat rejection without taking it personally and learning how to correct any areas that would benefit from growth.**Learning:** When you get your real estate license, you are gaining information from the legal and jurisdiction and not about sustaining your business. If you want to win the real estate market, you have to be willing to take the onus on yourself to learn different aspect on how to become successful in the sales cycle. The sales cycle ranges from learning how to market yourself, capture leads, convert leads, complete the transaction (buy or sell), negotiate, and gain referrals.**Strategy:** If any part of this cycle is broken you will find it to be an uphill battle to finding true success in real estate. One of the most significant contributing aspect you will need to master in online marketing. Online marketing can be used to generate leads, sell homes and to expose your expertise. If you have no idea about online marketing and what it takes, there are free resources that you can use to help you build a knowledge base on this idea. So the idea of that shouldn’t scare you, it’s easy to learn and implement. Here is a free resource that you can use to get an idea on the intro level of mastering online marketing: Facebook MarketingEven before you start online marketing or anything else, you need to organise your Database and create a strategy on how you are going to execute your success plan. This also includes budgeting yourself to get your business off the ground. Fees can include:Brokerage FeesWebsiteBranding designEmailOngoing domain/hostingBusiness cardsFor sale signsFinally, you have to be willing to understand that it can take time for your income to roll in. You will be out of pocket when your first start, and in real estate, you only eat what you kill. On the other hand, there are no limits/caps as to how much you can make. The difference between the two is the strategy. Once you’re ready, I would suggest for you to start the free trial of grel’s platform (GREL Free Trial), specifically with the certified seller specialist course so that you can advance your strategy within hours, not years. In addition, there’s a lot of sales converting scripts (250) that will help you maintain confidence when communicating to clients, while at the same time giving you a title of an expert to provide you with a boost in credibility with clients. There’s also access to 19 other courses which access is included, allowing you to choose which niche in real estate you want to work with (buying, selling, condos, luxury homes, investors, home flipping etc.).The more value to add to yourself, the more opportunities you attract to yourself.