Revised-real Estate Investment Broker
REVISED-Real Estate Investment Broker
Truly you can say a significant event in a person's life is the buying or selling of a home for the purpose of investing in real estate. Naturally, because of the complications and importance, we all look out for the assistance of real estate brokers also real estate sales agents. They have a complete and full knowledge of the real estate marketing.
They know the best of neighborhood, which will fit their client's requirements and also budget. They are knowledgeable with regard to zone and laws of taxation, and know where to get finance. They also set up meetings between buyers and sellers and be a go between when price is negotiated.
When selling property, brokers and agents do a title verification to ascertain ownership. For the prospective buyer, they may arrange favorable financing from a lender, if this is a necessity. Brokers take a lot of good deal of effort looking for properties to deal with and obtain listings-agreements by home owners to enlist properties up for sale with the company. And when a "for sale" property is listed, brokers do a comparison of the properties, with the same properties recently sold to get a competitive price on the market for that property.
Upon finalizing the deal, the agent who was involved in selling and the agent who got the listing receive a part or percentage of the commission. Good agents who sell and list a property themselves can expect a hefty commission.
Before a potential buyer is shown a property, brokers meet to assess the kind of home the buyer would prefer and the amount that they can spend. Also the buyer and broker will sign a loyalty contract, which means that he/she will be the only one to show residences/properties to the buyer. The brokers will make several visits with the buyer to potential properties and show all the salient features and points. For a young couple, for example, they will emphasize the close proximity to schools, playgrounds and shopping. For an investor they will point out the tax advantages of owning a rental property, and the easiness to find a good renter.
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Once the buyer and seller have signed a contract, the broker must see that all special terms of the contract are met with, before the closing date. The broker must ensure that all legally required inspections, like termite inspections etc or other mutually-agreed upon inspections take place. Any repairs that the seller agrees to must be undertaken. Brokers also look into environmental regulations, in respect of the properties they sell. The broker's job is complete only when all legal, finance and other details are carried out fully by the concerned officers.
Small number of brokers also sells commercial, industrial and agricultural properties. This requires specialized knowledge of the client and type of property. For example, those who deal in industrial properties must know the areas, location, and labor supply, transportation etc suitable for their client.
Brokers and agents do the same type of work, but brokers are licensed to manage their own real estate business, while an agent works with a broker, usually on a contract basis. In return the broker pays the agent a part of the commission on the agent's sale of the property. Brokers will also rent or manage your property for a fee.
Agents and brokers must be high school graduates and in addition courses done in Real Estate, finance, Accounting, law and others related to their business will all be advantageous to them. Well qualified ambitious people, who love and enjoy selling and with excellent business contacts will have the best career and rewards!
Written by: JB
Date Written: 16/07/2008
Reviewer Assigned by: David
Reviewed by: VO
Quality Control: AG
Copyscape Results: Nothing copied
Webmaster Results: Nothing copied
Subheadings: Not Required
Common Error Check: Done
Spelling and Grammar: Done
Quality Control Completed on: 30/07/2008
Related Tags: because of the complications and importance
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