New Home Real Estates

I can get a $1,000 referral by saying a friend referred me (he is suppose to get the money but he is giving it to me cause he's a friend...). But, would the real estate agent be able to give me a better price on the overall home? Should the real estate agents price override that $1,000 cash? How do I get the best deal?

Thanks.
FYI, the $1,000 is for community members to refer their friends (my friend is not a real estate agent).

EXCELLENT point on the real estate agent...they get 6% around here and the house I'm thinking of costs $118,000. I could "save" them almost $8,000 by going at it alone.

You get the best deal by bartering with the seller. I don't know about your situation specifically, but around here the usual trade commission for a real estate company is 7% (half of which goes to the real estate agent). It depends upon what kind of person the agent is... some will purposely try to keep the price as high as possible to keep their commission up, but some either want your business again, or are just good people and will fight for your best price. Get to know your agent a little, and do your own research on the value of the homes in the area, etc. That's the only way to get the best deal.

2007-02-24 20:31:27 by bbchase81

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We are in the process of writing a contract / signing a contract on a new home, from a decent size builder. I have heard a good tactic is to go in with a real estate agent I trust, and then have an agreement to split some of the profit with the agent, since as the buyer the price of the home wouldn't increase, but the seller (builder) would be out 5% or so of the home cost.

Can someone confirm what an agent would get going into this contract with me (house is in IL and worth $307K)?

Also, if I asked the builders in advance if they could make it worth my wild to NOT come in with an agent on the contract, what do you think is fair to ask them to do for me? Example I am thinking is to have them come down on the price of the home by 5K, or ask for them to stay at 307K, but throw in 5K in options free.

Thoughts?

Always use an Agent you trust and a Broker is even better (he is the boss).
The housing tract does not want you to use an Agent and they in many cases do not want to pay them a fee. But it is for your protection to have someone with much knowledge to review the contracts.
You can hire a Buyers Agent to help you through the contracts. You pay them a flat rate fee, generally $500 or so.
They will make sure you understand all the paperwork and that it is only in your best interest.
The builders agent wants what is best for his client, the builder.
You need to review the HOA's, and CC&R's too. Find out about all warranties, and insurance costs.

Work with a Broker or Agent, it is worth it in the end.

2007-03-10 09:00:56 by simmsdanjen

Price: $0.99

Assuming no mortgage is involved, what documents am I supposed to get at a real estate home / condo purchase closing?

What documents do I sign?

Which ones prove that I now own the property?

And if a wire transfer is involved, does the fact that the title / escrow company has disbursed funds to seller mean I know legally own the property and title is clear (title insurance bought) and title company has already recorded new owner with government agencies?

Although some people can do a transaction like yours without a lawyer's assistance, you should consider employing a real estate attorney to help you. Please take no offense to this answer, but your questions suggest that you do not have enough experience with this type of transaction. Once you have gone completely through a transaction or two, then you you will know the dynamics of a condo purchase transaction.

You do not want to pay good money and not get what you expect.

2007-12-31 10:30:20 by Michael

Price: $19.95 $19.95

I have completed real estate school, and will be getting my license after I pass the Texas state exam. I'm pregnant, so I was wondering if there are any company's or sites that hire real estate agents from home. I know I've heard of this before, but I'm not having any luck finding it now.

You will be an Independent Contractor and getting paid on commission so you have the freedom to work any way you want.

I would start off by calling some real estate offices and ask what the commission split is.

For example one company may say 50/50 so each transaction you close the co. gets 50% you get 50%.

Then there are companies that give 70% to you and they get 30% and you want to find the highest split to you.

Since you are new make sure there are no desk fees or expenses they charge.

However some things you will be required to pay most likely are Realtor fees, MLS fees, and you have to get a lock box key and they run over $100 for the key alone.

The mls fees (To be online and work from home) are reasonable and you can pay a year at a time or every 6 months etc..

Now the next thing is what is called FLOOR TIME or OFFICE CARAVAN.

Some companies require you to go on these events but if you say you want to be a part time agent they will understand and not require you to do this.

Right now they will basically do anything you tell them as many agents are quitting real estate as they can't handle the challenging market.

I myself am an agent and I personally think for you,this is the best market to start in! Because you are not starting at the best and highest part of the market only to see it crash on you.

You are starting after the crash has already happened and the market is now in the improving stage.

So even if you want to work full time just say Part time so they don't expect you to attend office meetings and caravans etc..

It is normal however that many top producers (Even me!) work a lot from our home also. Most of the time I work from the office but even at home I have a phone, internet, fax printer and I have sold many homes from my home.

I would however strongly suggest you get a web site. Especially if you are working from home. You can get one just like mine below.

2007-05-24 09:59:21 by Lyndsey G

I received a notice in email today that realtors in my area are looking for work at home real estate property locators. They say you can train live online, at your leisure, and can make really decent money locating property for real estate investors. What type of skills would one have to possess in order to be successful as a real estate property locator? Thank you for you time in answering my question.

A property locator job isn't usually a legit job because 75% of the realtors in your market are actually doing the same thing as a part of their real estate business and have more market knowledge than you are likely to attain training online. The necessary skills are a combination of identifying undervalued homes, knowing what a rehab would cost, and being able to determine its likely fair market value would be after rebailitation. Every real estate investor is looking for the deal of the century so the competition is fierce. Sometime they want you to identify and approach preforclosure properties which can get sticky since the owners see you as a vulcher. If you aren't afraid of hearing the word no over and over again , you might not have a problem with it.

2007-09-13 19:34:41 by Jackie Blue