Thoughts Ideas and Giggles: April 2010

I had written a post letting the Land Park neighborhood know of last night's Land Park Community Associations annual membership meeting.  This is a follow up to that post.

After reporting of events of the past year, we had a very informational presentation from 4 principals of our local schools (Sutterville Elementary, Crocker/Riverside Elementary, California Middle School and C.K. McClatchy High School).  The economy has hit our local public schools in a big way. As one principal put it, "Our budget last year was $57,000.  Our budget for the upcoming year is $23,000. This means we do not have enough money for basic school supplies such as paper."  They are relying heavily on donations and fundraisers. It is their hope that the community will support their fundraisers and possibly donate some time in the classroom.

Councilman Rob Fong gave a presentation regarding the state of the district.  Most of the news was not new...the bridge from West Sacramento to Sacramento at Broadway, the Sacramento Zoo expansion, improvement of the Freeport corridor and the new curbside green waste cans.

Lastly, we had a presentation of the candidates running for the board, myself included.  We have a wonderful slate of candidates representing a wide range of ages, residency in Land Park, careers and interests.  I hope to have the opportunity to get to know these new board members and continue to help on the board!

Tomorrow night is the Land Park neighbor's opportunity to elect their representatives to the Land Park Community Association.  There are 9 open seats and 8 candidates to date, so if you have interest in forging the direction the association goes in the coming year, show up! You can nominate yourself from the floor!

Also, you will have the opportunity to listen to a panel of the neighborhood schools principals.  LPCA would like to become partners with our local schools; this panel is the first step in discovering the actions we can take to give such support.

There will also be an update on the Sacramento Zoo expansion.

So, if you are interested (and every Land Park neighbor should be), show up tomorrow night at California Middle School at 6:30PM.  If you aren't yet a member, you can become one tomorrow night and have a say in the vote.  We look forward to seeing you!

The conversation started something like this:"Hi! I met you at an event last year. I had been considering buying investment property and decided that I could save money by getting my real estate license. I just received my license from the Department of Real Estate and wondered what do I need to do now? I know that I have to pay $245 to the Department of Real Estate, but I wondered if there is a way to not have to to that."

It was such an overwelming, under-informed question that I didn't know where to start."If you have not hung it with a broker, you need to do that. You can't sell or purchase real estate as an agent expecting to receive a commission unless you are a broker or have your license hung with a broker. And no, you can't get out of paying the Department of Real Estate licensing fees."

His response was, "But if I hang my license with a broker, won't I have to give him a percentage of my commission? Is there a way that I can do this without having to give up commission?"

"Yes, you will have to give up a portion of your commission and no, every brokerage will get their pound of flesh, one way or another." (I didn't quite say it that crudely, but there it is.) "Not only will you have to pay DRE fees and give up some of your commission, but most brokerages are members of the Sacramento Association of Realtors, whose fees include belonging to the California Association of Realtors and the National Association of Realtor. If your brokerage belongs, you are required to belong as well. The fees, depending on the time of year, will be several hundred dollars. Also, your brokerage will want you to pay for Errors and Omissions Insurance, which is several hundred dollars as well."

He then asked "How hard is it going to be for me to learn what I need to know to represent myself?"
"Let's see...after 15 years, I am still learning how to best represent my clients. I would never recommend that you try this on your own without lots of training...there is simply too many liability issues. What I suggest is, since the buyer does not pay the commission, and most agents are not going to discount their commission for a buyer, why don't you find an agent that works the area you want to purchase in, let them represent you, and forget that you got your license?"

"Yea...maybe that is a good idea."

This conversation lasted for 20 minutes, and went into many more things, but you get the gist!