Richard asks…
Do real estate agents have an advantage in real estate investment oppurtunities?
I’ve been reading up about the science of investment in real estate; specifically condos, vacation rentals. I have met some very wealthy real estate agents in Hawaii and some others that make a decent income like 40k a year.
If I want to become a real estate invester, will it help if I become a real estate agent, broker, etc.
Please, I’m still young and am eager to learn from you the experienced.
Wize Guy answers:
Any added expertise will help an investor of any kind. Realtors have an advantage because they tend to know the laws regarding real estate, but more importantly they know their market and have access to information not readily available to Joe Blow investor. They are usually members of the local board of realtors and have access to the MLS which offers knowledge of present and past sales and the market trends of neighborhoods. You might not need to get a real estate license to be a good investor, but simply to find a good Realtor who knows the business who can guide you through it and advise you on good opportunities.
Lizzie asks…
How do Real Estate Agents continue to make money in this down economy?
I am considering a bachelors in Real Estate Business, and the only thing that scares me about being an agent is the fact that salary is commission based, and how do agents live when nothing is selling? I know houses are still being bought and sold, but still. ?
Wize Guy answers:
A good agent will make money in any economy…. But you should always have more than one source of income. I’ve found something that works well for me… If you want more info let me know.
Sandra asks…
Do real estate agents get paid on only commission or is there a salary as well?
I am looking into changing careers and do have an interest in real estate. Does anyone do this for a living or know if real estate agents get paid a salary at all or if everything is solely based on commissions from selling a house.
Thank you!
Wize Guy answers:
One with a real estate license can work for say a home builder on salary, and still make a few sales on the side or market homes the homebuilder takes in trade.
regards,
Texian13
Carol asks…
Do you real estate agents really help you get a good price when purchasing a brand new home?
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.
Wize Guy answers:
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.
Thomas asks…
How do I find real estate agents closest to me and get their web addresses?
What do I put in the computer to find my local real estate agents nearest to me?
Wize Guy answers:
Go to http://www.realtor.com and choose the city and each agent will have contact information such as e-mail, telphone numbers etc.
This can also be done on Yahoo real estate, MSN, Homes.com etc.
I hope this is helpful?
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Tags: board of realtors, joe blow, down economy, decent income, real estate license, estate businessFiled under: Answer Guy
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