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EXP Realty San Antonio Team Delgado Real Estate Group
EXP Realty in San Antonio has a team named Delgado Real Estate Group. Real estate is one of the most rewarding and challenging industries to enter. As a beginner, you may feel overwhelmed by all that you need to learn. In fact, what you learn in class is different from real life. It even gets harder when you’re working as a couple in this industry. How do you even achieve a work-life balance? How do you separate work issues from family and marriage?
Well, in today’s episode, we have Mitzi and Jason Delgado, a couple and the owners of the Delgado Real Estate Group. Storming from property management and cable business where they worked for 17 and 20 years respectively, life and love led the two to establish their real estate business from their home and now working together.
Mitzi and Jason share with us their journey, how it all started, to where they’re heading in ten years’ time. They also share with us how they’re managing business and family matters separately, and how they ensure it doesn’t get into their family matters. If you’re looking to join the real estate industry, Mitzi and Jason have some advice for you. Continue reading to find out more!
Background to starting Delgado’s Real Estate Group
Before starting Delgado, Mitzi was in the property management industry for over 17 years. She started as a listing agent to a senior regional manager dealing with new constructions and rehab staff. However, she quit the position since it was involved, and a little later, she moved to the apartment industry. After forcefully leaving the apartment industry, Mitzi started Delgado Real Estate. On the other hand, Jason has worked in the cable industry for over 20 years, moved around jobs, and later joined Mitzi in real estate.
Working together as a couple
When working with your partner, their personality may change in that specific work environment leading to some conflicts. Mitzi and Jason have distinct roles based on their strengths. Jason is more aligned to photography, inspections, and searching on MLS, while Mitzi is good at paperwork and negotiating with realtors.
Getting a Real Estate License
You do not have to go to a championship school to get your real estate license, rather you can easily get it online. However, it’s not easy if you have no background in real estate.
“The real estate classes prepare you to pass the exam and the exam is not real life. The only time you will ever use a metes and bounds survey, or description is when you’re dealing in farm and ranch”
Why do people freak out from the big numbers?
More often people freak out from the big numbers without any consideration of how much you actually take from those numbers.
On the buying side, when you represent a buyer nine out of ten, the seller of whatever house they are paying is paying a commission but not the actual buyer. So as a listing agent, you have a certain percentage to charge that is, 6% of the total transaction cost. So if you’re dealing with an agent on the other side, they end up getting 3% as you also get the remaining 3%. However, not all listing agents may split it that way.
Different markets are very different. Your commission percentage is driven by how well you can present to the seller and get them to agree.
Lightning Round with the Delgados
In the card game you pick a color, shuffle them, and then the host draws six cards and asks you what they say. One of the questions Jason responds to is what he is most excited about right now, and it’s ICON status they are about to achieve.
EXP is a big brokerage firm. With EXP and other bigger brokerages, there is a certain amount you need to pay to the broker on a split basis until you cap. Once you pay the amount, $16,000 any transaction onwards is 100% minus the transaction fee.
Capping is more about the volume, while the icon is more about the quantity. After capping, you need to close on an average of 20 transactions within the same year then icon. Once you get icon, you get your $16,000 back. Last year they missed that with only three transactions and making it this year explains Jason’s excitement.
One thing Mitzi would teach
Financial planning is a skill that needs to be inherently taught to everyone. Most college kids are financially illiterate. While in college they use credit cards but they do don understand the financial ramifications of what happens. Besides financial aspects, some life skills should be taught.
“I think there were a lot of life skills that I could have benefited from that I didn’t learn in high school, you know, I mean, or any type of formal schooling or whatever, you know, well, and you learn how to balance a checkbook, but who the hell uses checks?”
You need to understand your credit score, a financial debt, how they come about, and how it can negatively impact you.
Favorite tool for their business
The ability to put themselves in strategic positions within the community. For Delgado Real Estate, it’s not about them or real estate rather, it’s about helping and being a positive influence.
“Real estate is all about putting yourself strategically in the right position, in front of people at the right times when they are making that decision to buy that house or print that banner.”
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