i have my mobile home listed with a mobile home realtor, and I want to cancel the contract to list with another agency. Will I have to pay a lot of money to do that? Anyone who knows realestate… please reply…
yes, but you will probably find that when you signed the contract you also agreed to pay a penelty fee if you cancle the listing.
i’ wanted to see my career in real estate. i’m commerce graduate.please any body help me in this way.
A Good Agent Will:
Know the inventory.
Have easy access to the homes.
Are trained to write contracts.
Can estimate closing costs and payments.
Coordinate inspections, paperwork and escrow.
A good real estate agent will take the time and have the patience to guide you
through the basic steps of buying a home. Choose an agent you feel comfortable with, someone who will represent your best interests. The more experienced they are, the more likely they will know how to quickly deal with problem situations as they arise. Ask for referrals or letters of recommendations.
Many people are put off by agents because they feel they are too pushy or aggressive. Working with an agent having these characteristics can be an advantage in that
things get done in a timely manner. Feel they are of good character though. If you feel your real estate agent is incompetent or not working in your best interest, interview another agent. If you are comfortable with your agent, be loyal to him/her. Don’t use them to find a house and then have a relative "in the business" write up the contract. This is the time you need to have someone who knows how to effectively negotiate without emotional constraints.
Inventory Knowledge
A good agent knows the housing market.
Agents spend a lot of time previewing properties. Daily they review new listings on the Multiple Listing Service (MLS) providing information about size, room count, amenities, condition, schools and price.
They know houses that are listed where the owner requests no yard sign.
Many agents specialize in a specific neighborhood and personally know many
of the people who live there.
Easy Access
Most homes listed for sale have lock boxes which provide agents access when
the owners are not home. Should you want to preview specific homes, the agent notifies the owners and shows the homes to you at your convenience.
Good Source of Contacts
Real estate agents are always coming in contact with loan agents, insurance agents, inspectors, contractors, and others who are involved with real estate. Over the years they acquire many names and can provide you with those who they feel are reliable.
Salesperson – Broker Relationship
A salesperson is licensed to perform real estate activities on behalf of a licensed real estate broker/company. The salesperson is responsible to the broker/company under whom he or she is licensed. All of a salesperson’s activities must be performed in the name of the real estate company.
The salesperson has no authority to receive commission directly from a client.
The broker/company is the only one licensed to act as the client’s legal agent.
An associate broker is a broker who chooses to work as a sales person under the name and supervision of another broker/owner.
The associate broker must have all the qualifications for a brokers license and pass the broker’s exam, but transacts business exactly as a salesperson would.
Buyer – Agent Relationship
When an agent and client work together, they enter into a fiduciary relationship which is governed by the law of agency. This fiduciary relationship is one of trust and confidentiality between the parties. Under this relationship the agent and his/her real estate firm has certain duties they must perform.
They are: accounting, disclosure, care, confidentiality, loyalty, and obedience. Even though the agent has this fiduciary relationship, they may not be working in buyer’s best interest. You may think the agent is truly working for you, but that depends on the type of agent they are.
Types of Agents
Exclusive Buyers Agent
Sellers Agent / Listing Agent
Dual Agent
Exclusive Buyer’s Agent
This type of agent truly works for and has loyalty to only the buyer. This agent is obligated to convey to the buyer/client any information about the seller’s willingness to accept a lower price or what the property is worth. The other types of agents are not obligated to work in the buyer’s best interest. Using an Exclusive Buyers Agent is the best way to buy a house. There is a growing trend for the Exclusive Buyers Agent.
Typically the exclusive buyer’s agent will get paid through the seller’s commission. When working with an exclusive buyer’s agent, the buyer usually signs a contract to work only with that agent. This works to both parties advantages. This can work to the buyer’s advantage through a lower sales price and better service. An agent who knows you are committed only to them is going to give you their best service from the beginning.
A buyer entering into an exclusive buyer agreement might want to start with a contract period of one week. After such a time, the buyer should be able to decide if the agent is living up to their standards and in comfortable to work with. They then have the option of extending the contract or working with another agent.
Sellers Agent / Listing Agent
The sellers agent is a listing agent. Their loyalty is to the seller. All confidential information a buyer discloses to a sellers agent is passed on to the seller. They try to get the highest price possible for the seller, which is not in the best interest of the buyer.
Dual Agent
A dual agency is created when the buyer’s agent and seller’s agent work for the same real estate company. Real estate companies prefer their agents to sell one of the companies listings. This creates a dual agency as both agents work under the same broker. A dual agent is better than a seller’s agent, but not as good as an exclusive buyer’s agent when it comes to the buyer’s best interest.
The Commission
Many first time buyers don’t want to use an agent because they wrongly assume they will have to pay them a commission. Typically the commission is paid by the seller, therefore the buyer gets the agent’s services for free. The seller usually compensates the broker/company not the salesperson with a commission for having successfully performed the service for which the broker was employed. This broker will then compensate, through escrow, the buyer’s agent’s broker for part of the commission. After escrow has closed, the broker’s of both the listing and selling agents will split this fee with the agents involved.
You Should Know
A real estate agent is qualified to provide valuable information and assistance,
but is not an expert in every aspect of real estate.
They are not permitted to give legal advice.
You should carefully read all documents that you are asked to sign.
If you do not understand the effect of any part of a document or if you desire legal or
tax advice, consult an attorney or tax advisor.
Likewise a real estate agent does not hold himself as an expert regarding the condition or boundaries of the property.
Obtain the services of the appropriate professionals.
-mohit
All commissions are negoitable and some brokers may have a menu of services, that could include an hourly rate, this may also be true with a real estate attorney.
Remember what you are paying for is a level of service and in the end results.
I would personally interview multiple brokers and ask the tough questions,
1. How long have you been in business.
2. I would like to see a list of your personal solds in the past year? in my neighborhood?.
3. Can I see your website?
4. What professional designations to you hold?
5. Give me an multiple examples of your marketing such as realtor.com, local media,
6. Do you promote in an extended area and if you do, give me an example.
7. References from your last 6 Sold’s
What I suspect is the cheapest will be limited in the answers from the above.
Real Estate is much more than placing a sign in front.
my landlord hired a realestate broker to find tenants for her (us), she later fired him, later when I went to him to get some paper work to prove that we had use of certain amenities that she was now denying us access to, he confessed to me that she told him to take our security deposit as his finders fee, I am living here, but moving because she breached the rental agreement by denying us access to the amenities, but I know that she no longer has my security deposit. is this fraud? shes in Chapter 13 wouldnt the judge want to know why shes saving back 100 dollars a month, that was what he told me she said she was gonna do to pay back for using our deposit.
She is absolutely doing something illegal. This is conversion and she could be fined or lose her license.
I’m searching realestate records for a paticular property in chicago ILL. in the area of ridgeway/armitage about the 3800 block of armitage & the 1300 block of ridgeway ave.
The best place to look is with the county property tax assessor’s office to find out about specific properties.
I require information of where I can find Realestate that is for sale after banks have reposessed housing. Obviously the banks must somehow recoup their losses.
when banks take back a home they put it up for auction at the court house of the county its located in.
it is open to the public. Be aware most banks or lenders will have a rep there bidding with you in other words the lenders rep will bid against you to get the price they want! because the lender owns the property they only have to pay the doc stamps and tax and not the auction price. if you win the bidding you will have till the end of the bussiness day to pay in full. personal checks not accepted! so be prepared to have money in the bank and after the bidding get a cashiers or certified check for that amount form your bank.
a little foot note for you if you are considering this i give you this advise stik to getting homes close to you in your county!
you have the best idea of good areas and bad ones. a rule of thumb most investors use is no more than 30 min form thier home 1 hour max!
Good luck!
looking to buy a house and I am looking for a realty office by the name of Coldwell Bank Realestate
Hi, We have them around here in NH. Here they are:
http://www.coldwellbanker.com/
WWW.LIST.REALESTATE.YAHOO.COM/REALESTATE/NEIGBORHOOD/MAIN.HTML
www.listrealestate.yahoo.com
i want to buy a house and i always here about people get a good deal cause they bought a forclosure house. how do i get that info.
Depends on where you are looking? If you want to stay in your local area the best place to go is the county clerks office or your county real estate office. There is where they will have all the public notices.
Feel free to contact me via the information below.
Jenold Freeman
C.E.O. Justgetaloan.net
jfreeman@bourdeaufinancial.com
866 530 7300
Dont forget to log onto www.justgetaloan.net Americas home for real estate financing needs. For the best in rates, loan programs and service. Remember no matter what the situation; Can’t we all just get a loan?