Eric Bramlett's Blog: All Categories

4) Lack of Proper Funding
If you've taken the time to create your business plan, than you should definitely have your budget, but I can't stress enough the importance of having and following your budget. However, the budget alone doesn't address the important aspect of funding. 90% of all small businesses fail due to lack of funding. Typically, new agents will want to have 3 months of reserves in savings before taking the leap into full time agency. However, money in the bank isn't the only way to answer the question of funding. Maybe your partner can support you for a certain period of time. You can keep a part-time job that won't interfere with your business as a Real Estate Agent. Many successful waiters make the transition to successful real estate…

Every time I talk to someone about my business and career, it always comes up that "they've thought about getting into real estate" or know someone who has. With so many people thinking about getting into real estate, and getting into real estate - why aren't there more successful Realtors in the world? Well, there's only so much business to go around, so there can only be so many Real Estate Agents in the world. I feel, however, that the inherent nature of the business, and how different it is from traditional careers, makes it difficult for the average person to successfully make the transition into the Real Estate Business. As a Broker, I see many new agents make their way into my office - for an interview, and sometimes to begin their careers. New Real…

We all have, and have heard the horror stories, “I found a __________ (Realtor, Mortgage Broker, Inspector, Insurance Agent, Inspector, Plumber, etc…) and he/she was so inept that the experience was AWFUL!  Best case, the situations end with a lot of frustration.  Worst case, working with a poor business-person can cost a lot of money.  As a small business owner, I always ask two questions: 1) What did they do wrong?  (Everyone always has LOTS to say about this) & 2) How did you find this person’s services?  More often than not, my friend telling the “bad experience” story found the “bad businessperson” through traditional advertising – not through referral.  These are the 7 Top Reasons why you should always find your business vendors by referral. 

1)…

I got my start in the real estate business about four years ago - when the market in Austin, Texas could be described as "bad," "on the decline," "busting," or worse!!!  We preferred to describe it as a "buyer's market."  This way, it made the real estate buyer feel privileged - not foolish.  At that time, when I was lucky enough to find someone willing to risk the "buyer's market," we'd search high and low for weeks to find the perfect home - and then the question would come, "How low do you think we should come in?"

More often than not, in a buyer's market, we'd start at around 90-95% of the seller's asking price.  If we offered 95%, usually it was taken.  If we offered 90% - we'd usually go back and forth a bit until we landed at, you guessed it, 95%. …

Cat Mountain in Austin, Texas is located just north off 2222, & 2 miles West of Mopac (Loop 1).  Cat Mountain real estate offers homes & villas that began construction in the late 70's, and it was continuously developed through the 80's & 90's.  Cat Mountain real estate offers phenomenal views of Lake Austin - the 360 bridge is prominently featured from many homes' windows.  The villas are priced in the low $300's & the homes are priced from the $400's - with an average sold price of $514,382 at $170.89/s.f.  The highest sold price in 2006 was $1.2m.

Cat Mountain offers close proximity to Austin's downtown business district, the tech-heavy Northwest Corridor, the Lake Austin 360 boat ramp, and a short 15 minute drive to Lake Travis.    For more… Read Full Post

Purchasing a home is a big step, and a big decision.  The average person spends around 1/3 of their income on their home.  The home that you choose has a big impact on your life, and can have a big impact on your finances, as well.  It always surprises me when Buyers attempt to “go at it alone” because of the possibility of mistakes.  A good Buyer’s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare.

1) Full Access to the MLS

The Multiple Listing Service (MLS) is a powerful tool that only Realtors have access to.  When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase.  The MLS is a database of all…

People with great credit scores have earned them for a reason – they have always borrowed money, and paid it back on time. There’s really no trick to what they’ve done, and there is no one action that will help you get a great credit score. When someone asks me how to earn a good credit score, I tell them to look at the spending habits of those with great scores, and to develop the same habits. Here are the 7 habits of people with great credit scores.

1) Never Pay Cash

People with great credit scores want every purchase to count. And a purchase doesn’t count unless the 3 bureaus know about it! The only way to make sure that the bureaus know how much money you’re spending is to put everything on your card(s.) Rather than deposit your paycheck and spend,…

Purchasing your first home is a big step, that comes with some very serious decisions. Many homebuyers are intimidated by the process, and continue renting much longer than they should, or need to. However, if you break the homebuying process down into these simple steps, and follow these important tips, you will find the process less intimidating, and much more manageable.

1) Before You Begin, Ask Yourself One Question

Will you live in your next home for at least 3 years? If the answer is “Yes,” you should probably purchase, rather than continue renting. With average appreciation, you’ll break even on your closing costs after 2 years, and start making money at year 3. Every year after that will put more money in your pocket! The most expensive aspect of…