Real Estate

Is it a percent or is there just a flat rate!

The other answers are incorrect.

Yes, there is a total commission of 5% to 6% of the total sale price. This is for a residential, single family home.

HOWEVER the agent doesn’t get ALL of that money.

In fact, when its a cooperating deal ["co-op deal"] with another office:
The listing agent has the property and
The selling agent has the buyer

There is STILL not a 3% split between the agents.

The agents work under the license of a real estate broker. In the case of a "co-op deal", there are 2 licensed offices involved.

Yes the offices split 3% each or whatever the arrangement is, which is stated in the contract, HOWEVER, the agents are on a flat pay basis OR on a commission basis of that office’s share of the commission.

For example: Agent A in Office A gets a listing for a property at $100,000. The Agent does everything which is connected with the sale on the Seller’s behalf to bring the deal to settlement/closing/escrow.

Agent B in Office B introduces the Buyer to the property. Agent B does the paperwork and makes sure the Buyer does everything the Buyer has to do to get the deal to closing/settlement/escrow.

At the time of closing/settlement/escrow, the total commission is 6% or $6,000, which is equally divided between the two offices.

Agent A had the listing. According to the arrangements Agent A has with Office A, Agent A’s share of the commisission is 1/2 of the 3% or 1 1/2% or $1,500. Office A has bills and expenses to pay too. They get the other $1,500.

Agent B had the Buyer. According to the arrangements Agent B has with Office B, Agent B’s share of the commisission is 70% of the 3% or $1,050. Office B has bills and expenses to pay too. They get the balance of 30% of that $1,500 or $450.

NOTE: THIS IS NOT ALWAYS THE SCENARIO OR OUTCOME. Different offices have differnt fees and different commission schedules.

Thanks for asking your Q! I enjoyed answering it!

VTY,
Ron Berue
Yes, that is my real last name!

Mr. Beck says you can buy Tax foreclosure property for pennies on the dollar. To me if the owner of a property owes taxes …that person most likely is in default of his mortgage as well.

Why would the bank that holds the note on the property let the home go …with the bidder only having to pay the back taxes free and clear of the outstanding mortgage debt?
Makes Little sense to me. Beck says these properties are free and clear….why would the mortgage company let it go? Any help is greatly appreciated.

This is a scam. Don’t waste your money on his course. If there is any value to the property over the unpaid taxes, there will be bidders at the tax sale.

No home with a mortgage will go to a tax sale if the mortgage is wiped out as it is in most states. The lenders are not that dumb.

I want to know that how realtor(real estate agent) react or quote some sentence or behave to buyer when a buyer ask to show them a fsbo (for sale by owner) property?

Your Realtor works for you, if you want to see a FSBO then they should make the appointment and show it to you.

The numbers don’t look too good for sales of homes…and with the american consumer being grossly gouged over the past 5 years with product being so over-priced, is it any wonder that now we get our due, as realtors?

Do I deserve to make a buck off the misery and percieved value to customers? Am I really just a house-pimp?

Are you kidding me? This is dumbest question I ever heard.

If you think it is your fault the housing market went up and people leveraged themselves to the max – then fine take the blame, but you had nothing to do with it.

Your job is selling homes for people – now more than ever ever people are going to need your help.

The question is if you percieve your profession as the cause to this dilemma, then do everyone a favor and quit.

I was chatting with a friend on what best to do to get a steady source of income and he talked about investing in real estates. i’ve never done real estates investment so i’ll like to know if its a sure way to make good money

Investing in real estate has been one of the hottest business trends today. The industry has proved to be very profitable despite the shaky economy that we are currently facing. Through the years, it has made many millionaires and billionaires – beginners and experienced alike. What does this entail? This simply means that one does not necessarily need to have a solid real estate background. All it takes is firsthand real estate mentoring along the way and you are sure to useful insights which you may want to apply in your business. Below are some mentoring tips to help you get started:

1. Find your niche. Real estate offers a wide range of areas to choose from – rehabbing properties, flipping houses, wholesaling houses, rental properties and many others. Before you take your pick, take time to evaluate your strengths and your weaknesses not only as an investor but more importantly, as a person. Will you be good at rehabbing? Or do you think wholesaling houses will be best for you?

2. Always make sure that you buy the right property. One very important reminder to keep in mind when investing is to purchase the right property. One of the common mistakes that new rehabbers make is buying a property located in high-demand areas. Experienced investors think that houses located in low-profile areas make more profits than those located in classy neighbourhoods.

3. Join an REI Club. Joining a real estate investment club gives you the chance to expand your network. More than just that, it also gives you the chance to learn continuously. Ask around and observe. The best real estate coach is the one who have experienced the industry themselves.

4. Where will you get your financial capital? Will you get your capital from your personal savings? If you plan to borrow from banks or other traditional lending institutions, keep in mind that you will be asked to pass a wide range of documents to get your loan approved.

5. Do not dream too big on your first project. If you want to make sure that you will succeed, keep your first project simple and feasible.

How much realty can fit in a womb? Is it possible to sqeeze the realty very small & compact for easy discarriage?

It depends on the market at the time, real estate is going through a harsh time right now. On something the size of an average uterus a cozy 2 bedroom cottage could probably be fit comfortably without said uterus blowing up.

I was in the bathrooms today at my work offices giving myself a pepped talk because my pal, Janet, was not workings with me today and I get really upsets so i usually go to the bathrooms to give myself a pepped talk to get thorough the days without her ok? So i got into the bathrooms and leaned over the counter on my ford arms and began telling myself " KATH – sucks it up ok? you can do this without janet ok? if you need her just call her on her mobile ok?" and i actualled started to feels better so i went to sprays my face with some water to slap myself back into realty and i accidentalled punched myself in the eyes and began yelling for helps immediatelys ok? My boss came running in and called 911s and they took me to the hospitaled and said everything will be oks and i can go back to works and i am back at the work offices and i am very pained ok? i have been trying to call janet on her mobile and landline all day and she wont answers, help! what do to?

Just focus on what you need to get done at work today. You can get along fine without Janet if you set your mind to it.

I have joined this industry recently as a assistant sales manager and i want to know would i’ll be making good bucks or not? right now i’m in india.

The cost of getting into the real estate industry is easy, but making money is very difficult. I recommend you start reading books and educate yourself as much as possible before doing anything.

http://www.myrealestateinvestmentsecrets.com Is Real Estate Investing for Beginners? Watch the video to find out the secrets why real estate can be done by any person even if he is just a beginner. You can also get a copy of a real estate investment course that can jump start your real estate investing career at http://www.myrealestateinvestmentsecrets.com

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http://www.byreferralonly.com Real estate training for Realtors. Glenn shares his “Time Management” strategy that he learned from Joe Stumpf and By Referral Only. Learn how YOU can be getting bankable results just like this.

Duration : 0:6:10

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