Wednesday, May 23, 2007

To hire a real estate agent or not ?

This may sound crazy as we can see most of the home buyers and sellers are increasingly employing real estate agents to either selling their houses or look for good tenants. So, what are the points to open such topic if we already knew the answers. The reason is simple as a marketer any kind of business not just real estate industry, real estate agents need to understand the purpose of a service or product that is being offered (i.e: Why the home buyer need to use your service ?, how they can only spend small amount of money to sell houses in greater value? etc). By knowing this,it is important because it brings ultimate knowledge on understanding the needs of targeted customers and what shall be offered. Then, real estate agents will have strong grounds to convince home buyers and sellers to use their services.

So, DO i need a real estate agent.............

YES.. because it saves times and money. By hiring a real estate agent, you can avoid the trouble of having prepare all the documentation of the transaction which requires times and expertise to complete. As we always hear people saying that time equals to money, thus, by saving up those times you actually free up yourself for doing other valuable things.

YES.. because real estate agents are most familiar with the market. Thus, they will know where to find the demands to match against the real estate available in the market. At the same time, real estate agents are also the best advisers on current trends and pricing of homes within a particular area. Sometimes , they also have some ideas where to get the best real estate lawyer at budget as well as recommending loan providers who offer lower mortgage interest.

YES..because you need to build a long-term relationship with the real estate agents . As more peoples are joining the industry, home buyers and sellers tend to look for quality real estate agents who understand their needs. Even though real estate investing can be considered as one of the biggest investment for lifetime, it is foreseeable that home owners will look for houses for their children, investment or even retirement. The strong relationship with the real estate agents will help to locate their ideal houses in easiest and quicker manner.

Friday, May 11, 2007

To be a real estate agent

What are the responsibilities for a real estate agent ?

In term of property market, real estate agent will act either on behalf of sellers or buyers in the process of selling or buying real estate, However, agents normally will not work with both buyers and sellers. For rental properties, real estate agents are normally hired by property owners to look for suitable tenants. In some other cases, buyers or property owners may seek advice from the agents on rental returns and selling value of a property due to their vast experience in real estate market.

How to become a real estate agent ?

To qualify as a real estate agent , you need to pass a required exam in order to obtain a real estate licence. Courses are offered from both online and offline. If you choose to study offline, you have to make sure that the school or provider is approved by the state's authority. This real estate's study mainly focuses on regulations, contracts, property's appraisals and other comprehensive related studies. The cost for getting the real estate licence will be varied where it depends states' requirements.

What are others capabilities you need as a real estate agent ?

A real estate agent shall have a good understanding on the property's market (i.e what types of real estate are being provided, who shall be targeted to theses offers etc). This is important because he or she can only secure for a deal only if the supplies from the market match with proper demands.

As many home buyers like to search for their dream houses during weekend or even public holidays, working seven days a week is expected , but not necessary 24 hours a day. But, it will depend on that particular real estate agent whether want to serve his or her clients to such extent. I don't think it will be issue as the agent is set on flexible schedule.Since you are not fixed from nine to five, jobs planning will be important where every duties that is being carried out should placed with a stipulated time line for completion.

Certain level of networking ability and interpersonal skill shall be needed from a good real estate agent. This is because you will be expecting different level of peoples due to the nature of the industry. The agents have to be careful with the ways of approaching those different kind of clients before securing a deal.

What is the compensation for a real estate agent ?

Upon closing a deal, real estate agent will be paid with a share of amount on the selling value at the agreed rate. If you are working with the broker, the commission earned will be shared in accordance with the percentage stated in the agreement. Some will be getting higher paid once the gross commission reach certain level. Others may have ability to negotiate further due to their working experience in the market. So, it is important to have this negotiated before commencement of the work.