Field Notes from a Realtor

Alex Wang Alex Wang

Chronicles of a Silicon Valley Real Estate Agent - Day 2,952

This Saturdy was one of those half work/half home days. It's possible (but not easy) to turn completely "off", but today was not one of those days. 

Started the morning contacting someone interested in selling their family's home in San Mateo and relocating to the Palo Alto area. Played a little phone/email/text tag, but we were able to connect and schedule a tentative meeting for Tuesday. I know there are some agents that think that they must pick up every phone call otherwise they will lose business. I'm not one of those agents. Our business is hard enough as it is with just returning phone calls! If someone is not willing to wait for me to call them back at a more appropriate time, then what value do I have as an agent? Chopped liver is all that I would be. What's your value?

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Alex Wang Alex Wang

Chronicles of a Silicon Valley Real Estate AGENT - Day 2,951

7:31 am: received a random call from someone saying that they noticed that my office hours were posted as opening at 7:30 am (have no idea where that would be) and they were at my office looking for me. Beware of the non-scheduled-drop-in-out-of-nowhere prospective clients… I usually tread very lightly here.

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Journal Alex Wang Journal Alex Wang

Chronicles of a Silicon Valley Real Estate Agent - Day 2,950

A lot on my mind recently. Reflection is a word that comes to mind. I think you do this more when you are older and more mature? :) So, I'm just going to start writing.

Woke up late today and wasn’t able to find the time to spend some time centering myself with scripture or some positive affirmations. (Note to self: when I don't spend time in the morning to just be silent, I find myself being more quick tempered and impatient). Quickly jumped on the phone with some out-of-state sellers to discuss negotiation strategy on their North Los Altos property. Motivation is key. Motivated sellers. Motivated buyers. Motivated agents. Without motivation, real estate is like drudgery. With motivation, you can create happy buyers, happy sellers, and wonderful real estate experiences.

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Mortgages, Economic Update Alex Wang Mortgages, Economic Update Alex Wang

Economic Update from Steve Papapietro of Opes Advisors, Palo Alto

Our view on rates this week is that the most widely followed indicators are sending different signals, but short term rates are likely to be steady with upward pressure on long-term rates. Increased  volatility is likely as the markets adjust to the new qualitative guidance from the Fed.  

Here is what we are watching:

Back to the Future

The U.S. added 192,000 jobs in March with the unemployment rate holding steady at 6.7%. Total private payrolls reached 116.1 million, finally surpassing pre-recession highs.  Employment numbers were also nudged higher for January and February.
 
In sum:  Moderate improvement in the labor market means that the Fed  will continue to gradually reduce stimulus while keeping interest rates low.

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Real Estate Career Alex Wang Real Estate Career Alex Wang

Thinking About Becoming a Real Estate Agent? Read This First...

A great post from Greg Nino, Houston real estate agent, titled, "An Open Letter to Anyone Wanting to Get Their Real Estate License". Don't get me wrong, I love my job. But like any industry, it has it's challenges. If I had a dollar for every time I heard, "I like people and love looking a homes. I would like to be a real estate agent." Nino's well-written 42-point letter below plus my commentary:

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