Agent Startup
Introduction
Are you ready for the most exciting, rewarding, and fulfilling job of your life? Are you ready to be your own boss and have the opportunity to help others achieve their dreams? Are you ready for one of the most challenging careers of your life?
GREAT! Welcome to Watkins Realty Group (WRG) and the wonderful world of Real Estate!
This guide was created to offer you the basic essentials all agents should have to get started and to increase your prospects for success. Whether you have just received your license, have been in the business for a year, or are returning to the field, this introductory guide will help you plan and provide you the information to succeed.
This guide will:
- Cover basic information on Office Training
- Provide you information on utilizing the tools available from support organizations such as the California Association of REALTORS® (C.A.R.), the National Association of REALTORS® (NAR), and our local association, San Diego Association of Realtors (SDAR)
- Start you off in the right direction with Goal Mapping
- Introduce you to creating a Marketing Plan and Prospecting
- List easy but effective ways to generate business
- Introduce you to the Real Estate Transaction Checklist
- Provide you with information on how to access contracts, such as WINForms
You should use this publication as a general guide. Your specific actions or conduct in any particular situation must comply with what is required by law, the NAR Code of Ethics for REALTORS®, and other rules and regulations, including your office policies and procedures.
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Office Training
 At Watkins Realty Group (WRG), we offer ongoing training sessions to help ensure the success of our agents. Training is provided by the office broker, manager or veteran agents. For new agents, being mentored by an established agent can be a key part of learning to do the right thing and establishing a winning attitude.
We offer training on:
- Agent Startup
- The Real Estate Transaction
- Understanding Disclosures
- Working with Buyers
- Working with Sellers
- Using Technology
- Marketing and Advertising
We also bring in various industry specialists, including:
- Mortgage Loans
- Title Insurance
- Escrow
- Disclosures
- Home Owners Insurance
For you to maximize the benefits of your training, it is important to:
Many times agents will attend the training classes with a "passing time" mentality. Some may look at it as time spent away from going out and creating new business. However, training is essential and the better trained you are, the more confident and competent you'll be when the opportunity arises to put those first transactions together.
Chances are another agent will have the same question. It's better to ask the questions now than to find out at the detriment of your clients later (or be embarrassed in front of them).
- Practice with your training material
Don't just file the materials away, but actually practice, practice, practice. This is especially important if your office covers the proper way to fill out the contracts and other forms you'll be using in your listing and purchase agreements. Example: If you attend a training session on using the MLS, take the time to practice being able to quickly and efficiently pull properties that match your client’s buying criteria.
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Independent Contractor Status
Getting Established—Start Up Costs
Starting any business costs money. The Watkins Realty Group approach strives to save you startup costs by providing the initial services you need to start your career.
Beyond this, you can spend a little or a lot when starting up your real estate career. When estimating your future costs, consider the following:
Spend the money on professional-looking business cards, making sure they are printed on good quality card stock. With WRG providing the artwork, orders will only cost you about $70.
Make sure you have enough stamps available for any mailings you plan for your farm area and basic correspondence to clients and potential prospects.
These include little give-away gifts in your farm area that cost between 20-80 cents per piece.
There is a wide range of costs in advertising depending on what type of medium you want to advertise in and how often you want to run your ads. For certain ads, you may be required to provide camera-ready pictures. Watkins Realty Group will provide you a web page free of charge on the WRG website, where you can place your picture and list your accomplishments, experience, quotes from clients, etc.
This includes basic servicing, car washing and gasoline. A lways keep your car clean, well serviced, and properly filled with gasoline at all times. Between pre-viewing properties, driving clients around and the other various things you must do on the road as a real estate agent, you'll find that your car will become your second office.
- Printing Expenses for Flyers and Brochures
Whether you are holding open houses, sending out a promotional mailing, or creating brochures or other materials, you'll be doing some printing. For jobs that involve mass quantities of flyers, it may be better to take it to a professional printer or ask the assistance of a title company.
- Business Stationery and Supplies
This includes letterhead and envelopes for everyday correspondence, pens, paper, folders, staplers, paperclips, notepads, filing systems, etc. All of your stationery should include your name and contact information.
Timing is critical in this business. Therefore, you need to be able to respond quickly to presenting or receiving offers or answering your clients' and prospects' questions. Cell phones, fax machines, computers, and e-mail are virtually a must in this business. In addition, a basic fax machine at home may help you tremendously.
Membership dues vary depending on which local Association you belong to.
The keys for listed homes are often kept in a lock box located near the front door of the property or on the premises in a specified location. In order to be able to access these keys, you must have a "lockbox key." These are available for purchase once your join your local Association.
- Additional Training Courses and Materials
Part of staying sharp and motivated in this business is to constantly learn about your profession so you become more proficient and confident. Training and motivational tapes and materials are good tools for staying ahead of the game.
Make sure you have enough Open House signs and name riders that have your contact information on them. Name riders with your phone number are important because they offer a way for the prospects passing by your listing to contact you directly.
 RECORD KEEPING TIP: One great thing about being an independent contractor is that you can write off certain business expenses from your taxes. It's crucial to keep a detailed record of your expenses and your mileage with an expense and mileage log. The mileage log should be kept in your car at all times.
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Associations
San Diego Association of Realtors - SDAR
There are many associations of realtors. The one Watkins Realty Group belongs to at its headquarters, is the San Diego Association of Realtors (SDAR). By joining SDAR and the associated organizations of C.A.R. (California Association of Realtors) and NAR (National Association of Realtors), you are provided an additional host of services.
Additionally, you may join the local Multiple Listing Service (MLS). In San Diego, this service is known as Sandicor. Here, you may purchase your own lockbox key and direct MLS access. You must be a local board member to be able to join the MLS.
Multiple Listing Service (MLS)
A Multiple Listing Service or MLS is a networking system that enables a listing broker to offer compensation to other participating brokers who procure a buyer for a property listed for sale. An MLS also provides information about property sales used by real estate agents to prepare CMAs, and by real estate appraisers to prepare appraisals. The MLS that Watkins Realty Group belongs to in San Diego is Sandicor.
California Association of Realtors (C.A.R.)
The California Association of REALTORS, (C.A.R.) is one of the largest state trade associations in the United States, with over 115,000 members dedicated to the advancement of professionalism in real estate. C.A.R. provides many services to assist its members. Here is just a brief, but important, list of the services offered:
As a Member, you are provided with resources for answering your legal questions and staying on top of important issues that affect your business.
- Professional Development and Education
Designations - C.A.R. offers access to real estate designations such as the Graduate REALTOR® Institute (GRI) and Senior Real Estate Specialist (SRES).
License Renewal - Continuing Education courses are offered in home-study programs. These education packages can meet your license renewal requirements and offer online convenience.
- Real Estate Business Products
C .A.R.'s line of real estate products includes the Standard Forms and transactional training tools you'll need in your day-to-day business. In addition, you can shop for sign riders, electronic measuring and calculating devices, farming tools, mandated publications, and real estate consumer related publications.
- Real Estate Research and Market Data
C.A.R. economists diligently track and analyze sales activity and trends to provide timely data you can use to better understand the market. These reports are available to members and help you keep a pulse on what's going on in your area.
- Discounts On Business Products and Services
As a Member, you are entitled to Member-only discounts on certain services and products to help you in your business.
National Association of Realtors (NAR)
The National Association of Realtors is one of America's largest professional associations, with a million members. NAR provides many services to assist its members, including:
NAR's offers a wealth of information on local, state and national political influences that affect your business. In addition, there are many educational and informational tools offered.
As a member of the National Association of Realtors, you belong to a group of professionals that adheres to a strict code of ethics. Being a part of NAR sets you apart from the pack and provides you the designation of REALTOR, a term recognized by many consumers looking for a real estate professional.
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Make A Business Plan
Picture this. You're sitting at your desk and notice other real estate agents making preparations to show property, doing comparable market analyses for listing appointments, chatting with clients, coordinating with lenders, title company representatives, and escrow agents about details of their various transactions. You're new to the business, so there aren't any prospects or a customer base as of yet. You recognize the need to prospect, but feel paralyzed because there are so many things to do and you are so overwhelmed that you don't know where to begin. Does this sound familiar? Don't do what some agents do and quit before you get started. Begin at the beginning.
QUESTION: What is the key to success in the real estate business?
ANSWER: The key to success in real estate business is usually not one thing, but a combination of things. That formula for success is different for different people, but it generally includes a high level of determination, a winning personality, a good understanding of the business, support from your office and broker, and a lot of hard work.
Goal Mapping
A lot of agents are so excited about making their first million in the business that they don't take the time to PLAN OUT THEIR GOALS. If you don't have a road map to where you are going, chances are you won't get there. Setting goals is a key ingredient to your recipe for success and will keep you focused in the right direction. If you don't write down your goals, your chances of succeeding in this business are very slim.
What types of goals are we talking about? Real estate can be an all- consuming business. Therefore, the goals we are talking about are the ones that help you achieve a natural balance in your life on both a personal and professional level.
Things you should think about in determining your goals:
- How much money would you like to make?
- How many transactions will it take to make your income goal?
- Within what kind of time frame are you looking at to make this figure?
- If you spend time in another vocation, what is your target to make real estate full-time?
- How much time, effort, and money are you willing to spend?
- What other things are important to you?
- What other things do you want to accomplish, outside of real estate?
Goal Setting
- Always have a reward built in for achieving a specific goal. Reward yourself often to keep your spirits up and motivation high.
- Break down your goals into smaller and smaller levels of time periods and scope of magnitude to decrease the "loftiness" of the goal.
- Visualize what it would be like to reach that goal.
- Don't beat yourself up if you don't reach a certain goal. As long as you are working towards getting closer to it every day, you are better off than not having a goal at all.
- It's important to be flexible with your goals as needed and refer to them often.
After you have mapped out your goals, you need to determine how to reach them. In order to do this, you should develop a list of things to do to generate business quickly. This list should then be incorporated into your marketing plan.
MOTIVATIONAL TIP : Visually remind yourself of your goals as you work. For example, if one of your goals is to buy a new car in the next 12 months, cut out a picture of that car and keep it at your desk or in your wallet. When frustration hits, take out the picture as a little reminder to keep on going.
“Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.” -Stephen A. Brennan
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Introduction to Creating A Marketing Plan
Develop your marketing plan that combines all the various things you need to do to generate business. You may also include time frames and how often you'll need to focus on certain tasks. Creating your marketing plan ties everything together and may be used as a very powerful tool for keeping you on track.
Once you have created your initial marketing plan, keep in mind that you may need to change it as necessary. However, the closer you can adhere to your plan, the more likely you are to succeed in real estate.
The Marketing Guide contains more in-depth information on marketing plans and prospecting.
Sample Marketing Activities
- Make a list of contacts (friends, family, co-workers, etc.)
- Send out initial announcements
- Prepare "listing presentation" packages that contain the following
- Benefits of my real estate office
- Benefits I can offer as their agent
- How I will market their property
- Sample "for sale" flyers
- Resume of my experience and areas of specialization
- Letters from past clients (if any)
- Familiarize myself with the area
- Visit the local schools
- Locate the parks
- Note the major shopping malls and closest freeway access points
- Pick up some info from the Chamber of Commerce
- Preview homes
- Send out cards to new contacts I've encountered recently
- Conduct Open Houses
- Mail out or deliver flyers to neighborhood before an Open House
- Know and have available details on other "similar inventory"
- Contact everyone who stops by (Do-Not-Call rules may apply)
- Prioritize prospects to work with
- Attend Office Training
- Personalize a buyers' package that includes:
- Steps on the purchase process
- Benefits of using "me" as their agent
- Basic home financing info
- Office floor time
- Use press release or local articles as mail-outs (copyright laws may apply)
- Watch for
 abandoned/vacant properties
- Increase social interactions
- Attend parties when invited
- Talk to people (at store, YMCA, etc.—use discretion)
- Join a club
- Set up my real estate database
- Participate in a charity
- Order my name riders w/ phone numbers & e-mail address
- Upon getting Listings, do the following:
- Make flyers
- Send "just listed" flyers/postcards to the neighborhood
- Open houses (based on client's needs)
- Advertise
- Distribute flyers to other areas
- Put a flyer box up on the property
- Put a rider on the sign with my phone number & e-mail address
- Listen to real estate and success motivational and training tapes
- Make contact on expired listings (Do-Not-Call rules may apply)
- Make contact on FSBOs signs or ads (Do-Not-Call rules may apply)
- Set up my Real Estate Web Page
- Farm an area/areas (500-600 homes)
- Go out twice a week (pass out flyers)
- 100 homes/per outing
- Follow up on leads immediately
- Read my marketing plan everyday!
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Prospecting
Prospecting are activities conducted by real estate agents in an effort to generate leads, contacts, clients, and ultimately, new business. There are many methods of prospecting, including door-to-door solicitations, cold calling, mass mailers, e-mail blasts, call-ins, door hangers, and getting involved in the community. Agents engaged in certain prospecting methods must comply with applicable rules and regulations.
Prospecting is often touted as the lifeline of a career in real estate. However, prospecting is also the bane of existence for many agents, especially new agents. Here are some suggestions to help overcome your doubts and fears of prospecting:
- Acknowledge that it's hard but necessary work. It may be difficult asking someone to use your services as a real estate agent, but you should come to terms with the fact that this is exactly what you have to do, whether you're new to the business or a 20-year veteran. Prospecting gets easier over time, and you get better at it with practice.
- Be persistent. Research shows that clients must hear an advertisement many times before remembering it. So don't give up after only one or two attempts. Also practice good follow-up. After getting a lead, be sure to follow up with a face-to-face visit, an e- mail, a thank-you card, a newsletter, or better yet, all of the above.
- Try to do things you enjoy. We've heard of going from door-to-door and cold calling, but there are many, many other ways of prospecting. Try to select prospecting methods you'll enjoy doing, such as organizing a charity drive, organizing a garage sale for everyone on your block, or getting involved in localpolitics or the PTA at your child's school. Your prospecting efforts will be more effective and rewarding if you enjoy what you're doing.
- Make opportunities for yourself. Be alert, be clever, and be creative. Whatever situation you are in, try to transform it into a business opportunity for yourself.
The Marketing Guide, contains more in-depth information on marketing plans and prospecting techniques.
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Set Yourself Apart in a Competitive Market
Have you ever noticed that some agents seem to be luckier than others? How does this happen? Well, these agents may be luckier, or it may be that they create the circumstances and do the things that bring more opportunity into their lives and businesses. An example of this is an agent who regularly goes out previewing property, participates in community social events, or always talks to people at the supermarket or doing other errands. These are times when business may approach you just because you were at the right place at the right time.
Increase Your Opportunities
Seek out appropriate community outreach events. Some banks, lending institutions, and community centers offer free finance seminars on purchasing a home. Attending these seminars with your name badge and/or Realtors® pin might be a great way to reach more prospects. In addition, look for ways to increase your referral potential. Make contact with retirement advisors, financial advisors, and executive recruiters to build your referral network team.
Constantly be prepared. An example of this is if you are previewing a property and just happen to be there at the same time a prospective buyer is parked outside or driving by. Sometimes when this happens, the prospect may approach you and ask if you are the listing agent or if you know anything about the house. This is an excellent opportunity to find out if they are currently in the market, if they are already working with another agent, or if they may be your next "clients." If you already have the information on the house and your business card available, you will look like a true professional.
Always have your business cards available. Wherever you are, be able to hand out some information about your services and the benefits of working with you.
Be equipped to open a transaction. Because you never know when you might have the opportunity to write up an offer or take a listing, you should always have one set of Standard Forms with you at all times to either write up a listing contract or begin a purchase agreement. Have a set compiled at the office and keep it in a neat folder in your briefcase or car at all times.
Increase Your Knowledge. If you want to set yourself apart from the pack, one alternative is to learn about some of the more unconventional things that agents don't usually look into, such as foreclosure properties. Having a little bit of knowledge on these things that are less conventional will give you an edge that other agents may not have. It will also give you more confidence in dealing with people when they ask you questions pertaining to these topics.
Finance alternatives: Another way to increase your knowledge is to look into alternative financing loans. Talk with on of our loan officers to find out what types of programs they have for "minimum or no down" loans and if they have programs for first time home buyers or for clients with less than perfect credit scores.
Attitude, Approach and Appearance. Attitude plays an important role in your success. Clients sometimes decide to work with you versus another agent because of your attitude. Buying or selling real estate is usually very stressful for most people who do not have experience with it on a daily basis. Therefore, they are looking to you to help them in this process. This is why it is so important to have a great attitude and confidence in what you say.
TIP : Remember, attitude is contagious. Always surround yourself with others who have good attitudes, strong work ethic, and "can do" spirits. Avoid negative behaviors and negative people.
A positive attitude also portrays to your clients that you are confident. Approach everything you do with a confident spirit. In your mind, believe that you are capable of giving your clients the best professional service they will find anywhere. If you truly believe this, your clients will probably sense it and thereby have more confidence in your abilities as well.
TIP: Wearing something special for listing presentations and showing properties will give you an extra bit of confidence. Examples can be clothing, special perfume or cologne, or a lucky pendant.
Appearance matters. You never know when clients may decide to unexpectedly stop into your office, or you may get a "hot lead" while you're out and about. It's okay not to wear suits all the time, but you should always look presentable and keep in mind that you may run into someone who needs your services and you'll want to ensure you look professional.
PRESENTATION TIP : The decision on whether to dress formally or casually while working depends on your work environment, who your clients are, and the type of properties you are showing. Sometimes dressing too formally will intimidate clients and make it more difficult for them to "relax," whereas dressing too casually may appear unprofessional. Be conscientious of this when you decide how to dress for your appointments.
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Transaction Checklist – Start to Finish
The main steps of a typical real estate transaction that closes escrow successfully are as follows:
Step 1: Seller enters into a Listing Agreement for Listing Agent to list Seller's home for sale.
Step 2: Listing Agent markets Seller's home for sale.
Step 3: Buyer enters into a Buyer-Broker Agreement with Buyer's Agent to find a property to buy.
Step 4: Buyer and Buyer's Agent preview Seller's home.
Step 5: Buyer writes an offer to purchase Seller's home, and Buyer's Agent presents to Listing Agent, who in turn, presents the offer to Seller.
Step 6: Seller accepts Buyer's offer, and parties enter into a contract.
Step 7: Parties open escrow and Buyer submits a good faith deposit into escrow.
Step 8: Buyer applies for any real estate loans needed to close the transaction.
Step 9: Parties conduct investigations and order various mandated reports for Buyer to review, such as, for example, inspection report, termite report, preliminary title report, and appraisal report.
Step 10: Seller provides certain disclosures and reports for Buyer to review.
Step 11: Buyer requests Seller to make certain repairs to the property.
Step 12: Seller performs agreed-upon repairs and places property into compliance with government retrofit requirements.
Step 13: A lender prepares to fund Buyer's loan.
Step 14: Buyer conducts a final walk-through of the home.
Step 15: Parties sign documents in escrow.
Step 16: Buyer places down payment and closing costs into escrow.
Step 17: Buyer's lender places loan proceeds into escrow.
Step 18: Escrow closes and disburses funds as appropriate.
Step 19: Buyer obtains possession of the home.
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Standard Real Estate Contracts
WINForms
In order to begin any transaction, there must be paperwork. Paperwork consists of contracts that must be filled out, along with all the supporting documentation.
Watkins Realty Group provides all the contracts needed for the success of your real estate business.
There are some basic things you'll need to know about these contracts. There are 3 major types of forms and contracts used in the Watkins Realty Group office for California transactions:
- WINForms (standard C.A.R. contracts and forms)
- SDAR forms (additional contracts provided by SDAR. For San Diego County only)
- Miscellaneous (WRG forms, Miscellaneous forms)
WINForms offers all the standard contracts you will need. These are supplemented by local forms such as those created by SDAR for San Diego (such as “Local Area Disclosures”) and Watkins Realty Group (such as the “Affiliated Business Disclosure”).
Standard WINForms are pre-printed and available at our offices. There are over 100 different forms available, each with a specific purpose. Don't worry—you'll only be using a fraction of these forms in a typical transaction. The main advantage these pre-printed forms have is that you can carry them in your car and fill them out immediately with your buyer or seller. We require agents to use standard WINforms for all their real estate contracts.
WINForms is also a software program that allows you to c omplete the forms at a computer and print them out in the office. The WINForms program has the advantage of doing much of the duplicate work for you. Once you enter in the property address or buyers name, etc., it will duplicate the entry on all the appropriate spaces for all contract pages and other associated contracts. This can be a real time-saver! Access to WINForms is provided to agents through the Watkins Realty Group offices. Just log in and print out the contract you need!
For more information on how to use WINForms, Please see the Technology Guide.
Forms In the WINForms Library include:
AB-11 Buyer’s Affidavit of Non-Foreign
AC-6 Confirmation of Real Estate Agency Relationship
AD-11 Disclosure Regarding Real Estate Agency
ADM-11 Addendum
ARC-11 Authorization to Receive and Convey Information
AS-11 Seller’s Affadavit of Nonforeign Status and/or California Withholding Exemption
ASA-Additional Signature Addendum
AVID-11 Agent Visual Inspection Disclosure
BDS-11 Business Disclosure
BES-11 Buyer Intent To Exchange
BIA-11 Buyer's Inspection Advisory
BIW - Buyer Inspection Waiver
BLA-11 Business Listing Agreement
BMI-11 Buyer Material Issues
BNA-11 Buyer Non-Agency Agreement
BPA-11 Business Purchase Agreement
BRE-11 Buyer Representation Agreement Exclusive
BRNE-11 Buyer Representation Agreement Non-Exclusive (BRNE) (Fomerly Form BBNE)
BRNN-11 Buyer Representation Agreement (Non-Exclusive/Not for Compensation) (Formerly Form BBNN)
CA-11 Commission Agreement
CBC-11 Cooperating Broker Comp & Escrow Instructions
CC-11 Canc. Of Contract, Rel. Of Deposit & Joint Escrow Inst.
CFC-11 Consent for Communications Form
CL-11 Commercial Lease Agreement
CLA-11 Commercial, Residential Income and Vacant Land Listing Agreement
CO-11 Counter Offer No.___
COL-11 Cancellation of Listing
COP - 11 Contingency For Sale Or Purchase Of Other Prpoerty
CPA-11 Commercial Property Purchase Agreement
CR-11 Contingency Removal
CTT-11 Change in Terms of Tenancy
DA-11 Disclosure/Consent For Rer. More Than One Buyer
DCE-11 Demand to Close Escrow
EBC-11 Estimated Buyer Cost
EEC-11 Employee Estoppel Certificate
ESP-11 Estimated Seller Proceeds
ETA-11 Extension of Time Addendum
FEHN-11 48-HOUR NOTICE OF INSPECTION PRIOR TO TERMINATION OF TENANCY
FLD-11 FEDERAL LEAD BASED PAINT DISCLOSURE
FLTN-11 Translation of Lease/Rental Agreements
HID-11 - HUD NOTICE TO PURCHASERS
HOA-11 HOMEOWNER'S ASSOCIATION INFORMATION
ICA-11 Independent Contractor Agreement
IOA-11 Interim Occupancy Agreement
ITA-11 Interpreter/Translator Agreement
KLA-11 KeySafe/Lockbox Addendum & Tenant Permission to Access Property
LCA-11 LEASE/RENTAL COMMISSION AGREEMENT
LL-11 EXCLUSIVE AUTH TO LEASE OR RENT
LR-11 Residential Lease or Month to Month Rental Agreement (Multi-Lingual)
LRA-11 APPLICATION TO RENT RECEIPT FOR DEPOSIT
LRM-11 Lease/Rental Mold and Ventilation Addendum
MCA-11 Market Condition Advisory
MCN-11 Methamphetamine Contamination Notice
MHA-11 Manufactured Home Advisory Addendum and Release
MHDA-11 Manufactured Home Dealer Addendum
MHL-11 MANUFACTURED HOUSING LIST AGRMT.
MHPA-11 Manufactured Home Purchase Agreement and Joint Escrow Instructions
MHTDS-11 Manufactured Home and Mobilehome: Transfer Disclosure Statement
MIMO-11 STATEMENT OF CONDITION
MS-11 MORTGAGE LOAN DISCLOSURE STATEMENT
MT-11 MODIFICATION OF TERMS
NBP-11 NOTICE TO BUYER TO PERFORM
NCA-11 Options and Upgrades Addenda
NCAD-11 New Construction Addendum to New Construction Purchase Agreement
NCDS-11 New Construction Property Disclosure Statement
NCEI-11 Common Interest Subdivision Supplemental Escrow Instructions
NCNC-11 New Construction Notice of Completion and Notice to Close Escrow
NCPA-11 New Construction Purchase Agreement
NCRPA-11 New Construction Addendum to the RPA
NHD-11 Natural Hazard Disclosure
NNR-11 NOTICE OF NON-RESPONSIBILITY
NODPA-11 Declaration and Proof of Real Estate License/Notice of Default Purchase Agreement/Notice of Cancellation of Notice of Default Purchase Agreement
NOE-11 NOTICE OF ENTRY
NPC-11 Notice of Obligation to Pay Rental or Lease Payments in Cash
NRI-11 NOTICE OF RIGHT TO INSPECTION PRIOR TO TERMINATION OF TENANCY
NSE-11 NOTICE OF SALE AND ENTRY
NSP-11 NOTICE TO SELLER TO PERFORM
NTF-11 Notice of Transfer Fee
NTT-11 NOTICE OF TERMINATION OF TENANCY (Multi-Langual)
OA-11 OPTION AGREEMENT
PAA-11 PURCHASE AGREEMENT ADDENDUM
PAC-11 Personal Assistant Contract
PCQ-11 NOTICE TO PAY RENT OR QUIT
PL-11 PROBATE LISTING AGREEMENT
PMA-11 PROPERTY MANAGEMENT AGREEMENT
PMOI-11 PRE-MOVE OUT INSPECTION STATEMENT
PPA-11 PROBATE PURCHASE AGREEMENT
PRQ-11 PAY RENT OR QUIT (3 DAY NOTICE)
RDN-11 Receipt and Delivery of Notices to Perform
REO-11 REO Advisory (for Buyer/Seller)
REOL-11 Advisory (Listing) (for Seller/Broker)
RFA-11 REFERRAL FEE AGREEMENT
RFR-11 RECEIPT FOR REPORTS
RGM-11 Radon Gas and Mold Notice and Release Agreement (Form RGM)
RID-11 RECEIPT FOR INCREASED DEPOSIT
RIPA-11 RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT
RLA-11 Residential Listing Agreement – Exclusive (Formerly Form LA)
RLAA-11 Residential Listing Agreement – Agency (Formerly Form EA)
RLAN-11 Residential Listing Agreement – “Open” (Formerly Form NEA)
RLAS-11 Residential Lease After Sale
RPA-CA California Residential Purchase Agreement and Joint Escrow Instructions
RR-11 REQUEST FOR REPAIR
SA-11 SELLER ADVISORY
SBSA-11 Statewide Buyer and Seller Advisory
SEL-11 Seller Instruction to exclude Listing From MLS
SES-11 Sellers Intent to Exchange
SFA-11 SELLER FINANCING ADDENDUM AND DISCLOSURE
SNA-11 SELLER NON-AGENCY AGREEMENT
SP-11 SINGLE PARTY COMPENSATION AGREEMENT
SPQ-11 Seller Property Questionaire
SPT-11 Notice of Your Supplemental Property Tax Bill
SSA-11 Short Sale Addendum
SSD-11 Supplemental Statutory and Contractual Disclosures
SSL -11 Short Sale Listing Addendum
TA-11 Trust Advisory (for Buyer/Seller)
TAA-11 TRUST BANK ACCT RECORD, ALL TRUST FUNDS
TAB-11 TRUST BANK RECORD-BENEFICIARY
TAL-11 Trust Advisory (Listing) (for Seller/Broker)
TAP-11 TRUST BANK RECORD-PROPERTY MANAGED
TBA-11 Termination of Buyer Agency
TCS-11 TRANSACTION COVER SHEET
TDS-11 TRANSFER DISCLOSURE STATEMENT
TEC-11 TENANT ESTOPPEL CERTIFICATE
TF-11 TRUST FUNDS RECEIVED AND RELEASED
TPA-11 Broker/Associate-Licensee/Assistant Three Party Agreement
VLPA-11 VACANT LAND PURCHASE AGREEMENT
VLQ - Seller Vacant Land Questionaire
VP-11 VERIFICATION OF PROPERTY CONDITION
VRA-11 VACATION RENTAL AGREEMENT
VRL-11 EXCLUSIVE AUTHORIZATION VACATION RENTAL
WHSD-11 WATER HEATER AND SMOKE DETECTOR STATEMENT OF COMPLIANCE
WOO - Withdrawal Of An Offer
WPA-11 WOOD DESTROYING PEST INSP. & ALLOCATION OF COST ADDENDUM
SDAR Risk Management Library
For Agents working in For San Diego, California, the local real estate board SDAR publishes Risk Management Forms designed to give Realtors® additional ways to manage and reduce legal risk. These include forms such as local area disclosures.
Forms In SDAR Risk Management Library include:
AITD Disclosure Regarding Subject To & “AITD” Transactions
APA Addendum to the Purchase Agreement
AVI Agents Visual Inspection
BA Buyer Advisory
BEI Buyer’s Election of Inspections
FIRPTA-B Notice to Buyer Regarding FIRPTA
FIRPTA–S Notice to Seller Regarding FIRPTA
LAD Local Area Disclosures
LOI Letter of Intent
MD Mold Disclosure
NOPB Notice of Prospective Buyers
NOPP Notice of Prospective PropertiesPGW Property & Geological Waiver
SAD Seller’s Additional Disclosures
SLIC Seller’s Listing Information Check List
SSR Seller’s Statement of Repairs
Vacant Land:
VLDS Vacant Land Disclosure Statement
BEIVL Buyer’s Election of Inspections for Vacant Land
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Conclusion
Work smarter, not harder. You may be able to greatly increase your positive results in minimum time if you learn to practice the following advice.
Time Savers
Listen. This is a very important time saving tip. Why? Because some agents have the tendency to ask questions and "think" they know what the client wants, when in actuality, it's completely different. Listen carefully or you'll be spending time showing the wrong properties to your clients. If they become frustrated, they may be tempted to work with another agent.
Learn to say "no." Over committing to extraneous activities will sap up your time.
Identify actions that will help you reach your goals. There are things that will "keep you busy" and then there are things that will "make you money." Learn to concentrate on the money-making activities. Your marketing plan is a good source to which to refer.
Schedule your day according to the importance of the activities that will help you achieve your goals.
Use the Office Transaction Coordinator (TC). Tracking the transaction, dealing with another agent or their TC, and keeping on top of timeframes all consume a lot of time. Some agents have the tendency to get bogged down. Use the services of the Watkins Realty Group Office Transaction Coordinator. It costs a few dollars but the time saved can free you up for prospecting and income earning activities. Additionally, many times the nominal TC charge can be paid for through escrow.
Be resourceful in producing marketing materials. Some lenders and title companies provide materials to help you in your marketing efforts. Be sure to find out what is offered and take advantage of it. There are countless ways to market yourself so be creative!
Be organized. When you are disorganized it takes longer to find things, important deadlines may be missed, and crucial details may get overlooked. Be sure to have your files in good order at all times.
Be sociable in your office, but not too sociable. Some agents like to spend too much time socializing and waste time that can otherwise be spent on more productive activities.
Know when to cut a client loose. This is a tough one. It's easy for some agents to get wrapped up spending a lot of time on difficult clients whose needs are almost impossible to satisfy. Walking away from difficult clients or prospects with low potential of completing a transaction will free up your time and energy so you can focus on more tangible deals.
Make daily lists of things you need to do and refer to them constantly. It will help keep you on track.
A Final Word
There's a vast wealth of information and numerous resources that you may use to help get you started, including at this website. In addition, you should try to stay on top of consumer trends, listen to your clients' needs, work your marketing plan, stay up-to-date on real estate laws that affect your business, and be creative in your marketing and promotional efforts.
Be f ocused, work hard but smart, stay organized, and rely on systems to make you more productive and efficient. The support of your broker, your office teammates, and the WRG marketing and systems for success will also help you be successful.
Whether or not you ultimately succeed in real estate sales rests largely in your own hands. Hopefully, this guide will help you in your endeavor to get started by educating you about the real estate business, providing tips on how to generate business, and helping you track down the proper resources to guide you in your journey. The rest is up to you. Good Luck!
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All rights reserved. Property of Watkins Realty Group. No part of this website may be reproduced by any means, electronic or mechanical, without advance written permission from Watkins Realty Group.
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