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March 5, 2007
Today’s Illegal Aliens are the Homebuyers of Tomorrow
The instructor today was the head of the entire brokerage, and rather successful agent. I was amused by the graph on the brokerage wall showing the month’s sales, coming it a cool 8 million for January. The amusing party of the graph was the stater goal of $165 million yearly sales. This shocked me at first until I realized that they were striving for a year’s total of that much, and not 165 million in sales in the month of December. There certainly is money to be made in this industry.
The instructor eagerly explained that the market was hot in Utah, (which is true, Utah has seen nearly 20% appreciation in the last year). He hinted that the reason for the constant growth is the mecca-like status of the state with a certain religious group. With more than 30 years experience, he clearly had some scope of experience in the business, and joked that possessing some level of Spanish speaking ability is often a useful talent, given that the Hispanic population will be buying homes in increasing numbers over the years to come.
We were told to focus on selling Real Estate, and that while we should possess some level of knowledge in regards to financing, that we shouldn’t strive to know much about finance as that is the Mortgage Brokers job. He claimed that since we cannot possibly know everything there is to know about lending we should instead focus on selling homes and get to know a few good brokers to refer business to. After my recent experience with Quickenloans, I am quite open to considering the use of a broker for my next loan.
He then apologized for jumping around a bit, and stated “I love A.D.D people…if you’re A.D.D talk to me after…the best agents have A.D.D, our minds think different” Seems like a solid recruiting policy to me.
Introductions in place, we moved on to discussing property taxes, which I cover in Part 2.
read comments (2)
March 5th, 2007 at 11:42 pm
Do you think that the market will continue to grow in Utah? Seems like it’s declining everywhere else…
March 5th, 2007 at 11:44 pm
Honestly I believe that the bursting of the bubble will only fuel growth in Utah. Utah is still relatively undervalued compared to the rest of the nation. Prices are certainly up, but there is certainly room to grow.
That said, property appreciation is certainly cyclical, and what goes up…well it sometimes comes down.