Showing posts with label real estate agent. Show all posts
Showing posts with label real estate agent. Show all posts

Friday, August 6, 2010

How To Become A Real Estate In Any State

Find out the requirements to become a real estate agent anywhere in the United States. Simply find your state below and click on it and it will take you right to the page you need in order to know how to become a real estate agent.

**Also Check Out This Excellent Ebook About "How To Become A Real Estate Agent" and Become Successful. **

All states are in alphabetical order. Come back to read more articles or bookmark this webpage.

How to become a real estate agent in Alabama



.Find Out How To Become A Successful New Real Estate Agent In Any State. Click Here

Posted by Rhonda Holt at 6:16 PM 0 comments
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How Much Do Real Estate Agents Make

Real estate is a great way to make money and this article will show you how real estate agents earn an income and how much can be made. Even in a tough economic times, real estate is still a top money maker. Yes, it may be tougher to make the sale in this economy but it can definitely get done.


How Do Real Estate Agents Get Paid?


Now just so you know, real estate is a commissioned based profession. People that have answered ads in the newspaper have walked into my broker's office and asked how much do they get paid and when. There are no weekly, bi weekly or monthly paychecks. You get paid on a sale by sale basis, which means whether you sell 0 homes or 20 homes a year, you only get paid when you sell a house.


The fact is, a commission based profession like real estate depends on how much time and effort you are willing to put in to make as much money as you want. If you want to make $20,000 a year or $100,000+ a year, it's all up to you.


How Much Commission Does A Real Estate Agent Charge In New York


Since I am an agent in New York, our standard or most common top percentage is 6% of the purchase price, but it can vary depending where you live in the U.S. Now this is the most common commission rate, but its not in stone. An agent can decide to go a little higher like up to 7% or as high as 10% depending what the transaction entails. An agent can also go lower than 6% depending on the situation with the seller.


How Much Does The Real Estate Broker Get


Now all real estate companies are not created equal. Most real estate companies get paid 50% of each transaction. Sounds like alot? It depends on what services your company is offering to earn 50% of your pay. Some offices offer great marketing services and materials, desk, computer and more.


Let's do an example:


You listed and found the buyer and sold the1 family home for $300,000. You charged the seller 6% of the purchase price.


- $300,000 X 6% = $18,000


- Your broker gets $9,000


- You get paid $9,000


That's right you will actually get a check in your hands for $9,000. Wouldn't you like to have $9,000 in your hands at once for selling a home. But don't be fooled there's alot more work involved in doing a real estate transaction than you think, it's not as easy as you think, especially in this market. Any profession that makes a great income takes skill, hard work and dedication to the business.


How Do You Get Paid When You Co-Broke A Deal With Another Office?


When you co-broke a deal that means two different companies work together to do a deal or sell a home. One company will have the house for sale and the other will have the buyer. See two examples of a co-broke below.


Example- One agent in a real estate company has the buyer and the other agent in another real estate company has the seller


Let's say, you had a buyer named Ms. Smith and found a two bedroom condo for $400,000 through ABC realty that agent Mr. Brown listed. Mr. Brown is getting paid a 5% commission and is willing to co-broke 2% with the agent for the buyer, which is Ms. Smith.


- $400,000 cost of the condo X 5% = $20,000 total commission


- $400,000 cost of the condo X 3% = $12,000 total paid to Mr. Brown's broker's office, Mr. Brown will get paid $6,000 for selling the house and pay


-$20,000 X 2% = $8,000 total paid to Ms. Smiths' broker's office who represented the buyer


*Out of the $8,000 Ms. Smith is being paid for selling the home. Her broker at her office gets 50% of her pay.


$8,000 X 50% = $4,000 for Ms. Smith's broker and $4,000 for Ms. Smith to take home.


I'm sure you get the point!


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How Do You Get Paid When You Split A Sale In Your Own Office


Sometimes an agent may get a home to sell and another agent sells. Let's take a look out how they payment would work.


Example: An agent has a one family home that sold by another agent in the office for $450,000. The commission to be paid is 4% of the purchase price.


Total commission to the broker's office = $18,000


The real estate office receives 50% of $18,000 = $9,000


The total left for the two agents to split = $9,000


The selling agent will receive = $4,500


The agent representing the buyer will get = $4,500


Above are just the most common examples and there are others depending on how many agents representing a seller and how many are representing the buyer. So the splits and agreements among agents can vary.


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Becoming a Real Estate Agent


Who Pays The Commission To The Real Estate Broker?


This question has always been an issue in real estate as to who really pays the commission, the buyer or the seller. Over the years my personal opinion is the seller pays the commission. Why? The seller automatically has all the expenses deducted from their total profit right at the closing table. The buyer pays for the house but they are taking out a loan from the bank and spreading it over 30 years, so there is no real direct impact.


Well I hope that this article answered some of your curiosities about how real estate agents get paid. Remember that real estate company fees can vary in the percentages they pay and additional expenses they may charge per transaction.


Learn The Secrets To Making Six Figures In Your First Year!
Posted by Rhonda Holt at 6:15 PM 0 comments
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How Do I Get A Real Estate Agent To Work With Me

Are you the type of buyer that can't get an agent to work with you long term? Buyers are a dime a dozen in the real estate business. Most of the time agents get overwelmed about how to select, manage and to find properties for those buyers.


There are so many buyers pulling at agents, especially now while interest rates and prices are low. So with this in mind, agents need to be selective with the buyers they choose to spend their time with. There's only so much time in a day and if a buyer is not serious about buying or cooperating then an agent may have to let the buyer go.


When you call an agent about a property you are interested in then you need to cooperate with the agent. Every agent has their own way of interviewing a buyer on the phone or in person to get the information they need to determine if you're a qualified and motivated buyer. Imagine if an agent took out every last buyer that called each day, to only realize that most or all of those buyers are unable to buy or not ready to buy.


As a buyer, you have to remember that this is a sales agent's profession and it's what they do to earn an income to care for their families. Agents have to treat their profession seriously and not waste time with buyers that view homes as a hobby or nowhere close to being qualified.


As a top producer in Brooklyn New York, below are some things I look for in a buyer that would like me to help them purchase a home:


- Know What You Need Not Want- In order for an agent to be able to help you, you have to be able to express what you need in a home according to what your money can afford. For instance, bedrooms, baths, parking, brick or frame, need a basement, close to transportation, etc.


-Know What You Can Afford - Every buyer knows how much they can afford to spend each month and you don't need a mortgage person to tell you differently. Just like when you go out to rent an apartment, you already know the monthly rent your willing to pay and the same thing goes with paying a mortgage for a home. The only thing you may not know is how that monthly amount translates to how much house you can afford in terms of price. So you need to speak to a mortgage broker before you shop for a home so you know much a lender is willing to loan you.


When you find out what you can afford then you need to know which areas you should be looking in.


- Location - Now this is the big one because many times I get calls where buyers say I will live anywhere in Brooklyn. So that means, I must set aside the time to find one house in the 4th largest city because I have all the time in the world. Help out the agent and select two to three areas that you can afford and will definitely live.


To choose a location consider the transportation you need, whether you like a quieter area or an area that is more busy near shops and restaurants or near your child's school, near family or work. Just choose.....I'm begging you!!!!


- Calling An Agent: An experience full time agent usually gets calls all day from buyers, so how can you stand out from the rest? When you call a more experienced agent sometimes they will want to know more about your needs and qualifications. So be prepared to answer a few questions about your needs, contact information and sometimes even some financial questions.


- Going To The Office - Again, more seasoned agents may feel that you have potential to buy just from a conversation with you and may ask you to come into their office. Why? Agents are usually testing you to see if you're a willing buyer because a serious buyer will do whatever it takes to get the home they want. Also, they can sit down with you face to face and get a better feeling for what you want, when you want it and if you have the means to get it.


You should bring important documents like your pre-approval letter if you have one, credit report, paystubs, w2 forms and bank statement. I suggest that you don't give your personal documentation to an agent, but just show it. I say this because you don't want to hand out personal documents if you're not going to work long term with the agent.


- Meeting At The Property - If an agent decides to meet with you at a property and you feel you want to work with this agent then come prepared to give some information. This is your chance to communicate with the agent about what you're looking for, your qualifications and how soon you want to buy.


-Qualifications- If you want an agent to take you seriously let them know you had a consultation with a mortgage broker and you have a pre-approval or you're willing to get one. This way, the agent knows you have begun to take the necessary steps to begin the buying process.


- Credit Score - Your credit score is a major factor in a lenders decision to give you a loan or not. But an agent is impressed if you already have your score. If you check your credit score yourself your score will not drop.







Find out your credit score on your own and your credit score will not drop.
Click on the image above.


- Be On Time - Agents will literally let you go if you continue to be very late for appointments or not show at all. Most agents have appointments back to back and how they use their time is important.


- Low Ball Offers - I know as a buyer you're looking for a deal. But if you give one or more ridiculous offers that is way out of the ball park an agent will think you're just playing games and not take you seriously.


- Not Placing Offers - If an agent has found several homes that fit your needs and wants , and it's in the right price range and location and you're haven't placed an offer the agent may stop working with you.


There's some other things I can touch on, but it's almost 1:00 a.m in the morning and I'm exhausted from showing houses all day. Anyway, if you want a skilled agent to treat you like a client and provide you great service then you need to respect the agent for what they do. An agent that provides excellent service and is willing to scour the city to find what you want is not an easy task. So when you find a good agent cooperate and both of you will be happy in the end.


Now that you know how to get a real estate agent to work with you, I suggest you check out an ebook I found that tells you what to be aware of during the home buying process, called "Home Buying Defense Guide." Click here to take a look.


Feel free to link this article to your TWITTER and FACEBOOK account, let's help others you know to be better buyers. Good night and read some more of my blogs!
Posted by Rhonda Holt at 5:05 PM 0 comments
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Do I Need A Real Estate Agent To Buy A Home

Today, many buyers think they can purchase a home without a real estate agent and have lost time and money because they did not have proper representation. Now of course I’m not talking about agents that are lazy, inexperienced, an agent that’s hardly ever in the office or don’t return phone calls. I’m talking about using an experienced agent that loves this business, has experience and success, and knows how to treat buyers with respect.


During my career I have come across buyers that ask me to help them because they have experienced lousy service from real estate agents in the past. I have also spoken to buyers that have been in contract without agent representation for months, even more than a year only to find out the deal died because they didn't have a skilled agent to communicate with all parties and to get things done or resolved.


**In real estate the saying goes, “If a buyer is serious about buying and loyal to an agent then the agent will work hard for the buyer…..plain and simple.”


If you are a serious buyer and you have found a wonderful agent that knows this business and has the ability and skills to find you a home and walk you through the process, then you are luckier than most. This is a more complex market and you need all the help you can get.


But real estate agents have a leg up on buyers when it comes to finding properties and helping you get the home you want.


Below are some reasons why you should have an agent represent you in the home buying process:


- Agents have the first access to homes that come into their office before it hits the market for the public and other agents to see.


- Agents can find out if there are any offers or a contract on a particular home before you can.


- Agents have the ability to call up other agents for you to get you in more properties quickly.


- Agents have the ability to get keys and codes to lockboxes to get into multiple properties.


- Agents have direct access to recent sales, in contract information and newly available home reports over buyers.


- If you cannot find the home you want, agents have the ability to market to certain neighborhoods to see if anyone would like to sell or have expired from the market and may want to resell.


- Agents act as the manager of your deal and negotiate a better price, terms and conditions on your behalf.


- An agent is there to protect your interests when it comes to assisting you with the process and providing documents, setting up and attending inspections and appraisals, working with the mortgage rep, communicating with all parties to make sure things are getting done in a timely fashion and providing support and solutions all the way to closing and sometimes after.


When you use an experienced agent with a good reputation you will be protected and provided with good service. A real estate agent that knows the process from start to finish will allow you to have a better experience and to eliminate some of the stress that comes with buying a home. It’s a big investment and you should make sure you are represented by an agent that has your best interest at heart.


*I found a great source that is excellent for helping you to protect yourself in the home buying process called, the Home Buying Defense guide. This ebook that you can download right now covers everything you need to know to protect yourself and your finances and to help you make smarter buying decisions. Click here to check it out now!


**Feel free to share this article on your Facebook and Twitter pages and through email. Thank you for helping me spread the word. Keep coming back for more real estate answers.


*Did this article help you? me a comment to read and share your experiences or advice with my viewers.
Posted by Rhonda Holt at 2:29 PM 0 comments
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Thursday, July 29, 2010

Hottest Real Estate Blog Coming August 6, 2010

Coming August 6th, 2010 - Jam Packed Information Real Estate Site! Sign up Today!

Hello, I'm a full time top producing agent in New York and I will launch my new real estate blog on August 6th 2010. It will be loaded with the most popular real estate questions from buyers, sellers and real estate agents and I will have the answers to those qustions for you to read. I will also provide you with the latest market conditions, pre-foreclosure, foreclosure, hot properties, real estate deals,great real estate products and services. This is one blog you want to subscribe to, so mark your calendar and come back!

Sign Up Today To Keep In Touch - This Blog Is Going To Blow Your Mind!

For now check out my personal website at: http://www.RhondaHolt.com

See you in just a few more days with tons of real estate information that you can't miss! Sign up now!
Posted by Rhonda Holt at 11:15 AM 0 comments
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