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You know the market is overheated when.....

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Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
my nephew sells real estate and goes to college. recently a broker-type left his firm and is the principal broker for a new start up real estate firm in a small town. The guy who started this company does not have a brokers license, sold real estate for only 8-10 mo. and now they are wheelling and dealing. He had worked for a guy who listed a lot of farms and Mr. D as i will call him, admitted to my nephew that he had never shown a house in his career....not one. He now owns a real estate company yet had only shown ranches and chicken farms, a few commercial properties. He wants to get his own brokers license and dump his hireling broker (who had a very nice commission plus salary contract for 1 year). Can you imagine him trying to close a conventional fannie mae let alone an FHA property?? His broker better be good, and keep her head out of the bottle..probably the reason Nephew's company wasn't that displeased to see her go.
 
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