What do the letters behind an existent estate agent’s name ramp for? Real estate agents, like doctors, lawyers, and other professionals can ear designations, certifications, and other credentials. These are usually shown by putting a series of initials after the agent’s name. The most common designations and certifications are: Broker, REALTOR, e-Pro, CHMS, GRI, ABR, and CRS.
What does an agent have to do to obtain the designation or certification?
e-Pro requires an agent take a class on basic computer skills. It has no real estate content, but ensures your agent can use email and the web. It should really be a bare minimum bar for the technology aptitude of your agent.
REALTOR is the one of the easier credentials to obtain (but one of the hardest to live up to). A REALTOR is a real estate agent that belongs to the National Association of REALTORS and agrees to follow the Realtor Code of Ethics. You can read about the code here http://www.realtor.org/mempolweb.nsf/pages/Code?OpenDocument
Broker is a bit harder to obtain than REALTOR. In Texas, for example, a broker license is required to be able to operate your ain real estate company. An agent must have their license for 2 years and complete over 600 hours of real estate education prior to applying for a broker’s license. The broker’s license is granted upon completion of an exam administered by the state. Brokers are basically real estate agents with advanced educations.
GRI stands for Graduate Realtor Institute. Less than 50% of agents have this designation. The GRI requires 12 days of continuing education with passing grades on three exams. There are no production or time requirements so an agent can literally earn this designation by sitting in class for 12 days and passing the tests. This designation is in no way a measure of real estate sales experience.
ABR stands for Accredited Buyer’s Representative. Less than 30% of agents have this designation. This designation combines 2 days of classroom work and an exam with the requirement that the agent show proof of at least five buyer sales. This designation shows that the agent has had both formal classroom time and in the field experience.
CRS stands for Certified Residential Specialist. Less than 4% of all agents have this designation. This is the most difficult designation to obtain and is a measure of a high degree of formal education and real world transactional experience. To obtain a CRS, the agent must attend three 2-day classify, pass three exams, and provide proof of 25 closed transactions within the last 24 months. While the transaction experience isn’t a huge amount, it does weed out the inexperienced agents and the classify weed out those agents who aren’t dedicated to continuing education.
Other designations are out there, but for the most part they are issued by inconsequential groups and have no real bearing on the agent’s abilities and are used more for marketing purposes than anything else.
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Posted April 6th, 2011 in Real Estate Agent | No Comments »
Real Estate Investment in Whangarei New Zealand
Real estate business may be focused in so many aspects as an investment and as a method to earn money from. You can be a real estate agent and enjoy earning money while on the other hand, there are those who have the capital to earn being an investor in the buy and sell arena for a real estate business. In Whangarei New Zealand, however, there is a lot of available real estate business investment that you can get in to if you want to earn a significant amount of income from it.
Whangarei Real Estate Agent Marketing Tips
A Whangarei real estate agent in New Zealand may earn done real estate business by selling real estate property in so many ways and methods but so far, there are a few tips that I would like to give you to be able to earn good in this business. To be able to market a real estate property, you have to know where you tin make such move or where to post your for sale property using the internet because we all know that the internet is the best medium there is if you are selling anything today. A few good ways to seek refuge for your product are forums and classifieds. Today there are a lot of free classifieds that you can post your for sale product. Forums can also be a good way to sell real estate. You can also try to market your real estate property using social media sites where you can post to multiple people who might just be interested to buy a real estate property in Whangarei. So far these are just a few ways and I know that there are a lot out there.
Different Real Estate Property Investment and Sale
In a real estate investment, there are a lot of different types that you can sell for interest of those who might be looking for the perfect type of property. Different people have different preferences for a real estate property that they wan to buy or rent or even lease for a period of time so to be able to allow your target clients to get a glimpse of what is there in the real estate industry in Whangarei Nez Zealand, you must have access to the different types of real estate properties being sold in the market today and make a list of them all. This is for the purpose of having each type under your profile just in case you have to present a client the different types of real estate property that you sell for choosing.
To get you an idea of what is in store if you are looking to sell real estate these are a few types. Coastal real estate, farmland real estate, northland real estate, beach real estate, resort real estate, ridge real estate and more. So far these are just a few but always feel free to make it more appealing and diverse for your clients. We all know that selling a real estate property either if it is for rent, lease or total sale depends on the choices that you can offer for your clients.
Posted April 2nd, 2011 in Real Estate | No Comments »
PREI® to acquire Australian property
PARSIPPANY, N.J.–(BUSINESS WIRE)–Prudential Real Estate will acquire a majority interest in 595 Collins Street, an A Grade office complex in Melbourne, Australia’s, central business district, the company announced today. PREI® is real estate investment management and advisory business of Prudential Financial, Inc. PREI, through its Singapore-based Pramerica Real Estate Investors (Asia) Pte …
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Chris Griffith: Calculating closing costs in advance
How do I find out, in advance, all of the closing costs and fees related to buying real estate here? Whether you’re buying or selling real estate you should be able to calculate the majority of closing costs prior to closing day or even signing a contract. This answer is about as specific as I can get without knowing whether you’re buying new product or resale, paying cash or financing or which …
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Real Estate Veteran Lewis Geyser Rejoins J.H. Snyder Company as Senior Partner
LOS ANGELES–(BUSINESS WIRE)–Los Angeles-based developer J.H. Snyder Company announced today that industry veteran Lewis Geyser has returned to the firm as Senior Partner, with responsibility for developing financing packages and joint venture relationships. Geyser, who has more than 40 years of real estate and legal experience, rejoins J.H. Snyder as the Southern California market gears up for …
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Posted April 1st, 2011 in Real Estate | No Comments »
 Jimmy Sturo asked: A real estate contract is for the purchase or sale, exchange, or other trade of real estate between two or more individuals or parties. Real estate, also called leasehold estate, is essentially a rental of real property, and rental contracts cover rentals, since they normally do not result in recordable deeds. Freehold trade of real estate that are generally more permanent, are dealt with by real estate contracts, and they include dealings in the title fees, life estates, remainder estates and freehold property. Real estate contracts are usually bilateral contracts, where terms are agreed upon mutually by both parties and should have the legal prerequisites specified by the contract law in writing. Any real estate contract must have certain details well written to avoid further misconception and misunderstanding. These details include a proper identification of both parties between whom the exchange of real estate property will take place. A clear description of the both parties is required as well, as their intentions for the deal. A clear description of the real estate property must be made in the contract, including the address of the estate and other details as agreed upon by both parties. The price that the estate is being sold to the buyer and the terms of payment must also be clearly quoted to avoid misinterpretations. The signatures of both parties are mandatory on the contract, but it must be noted that this is voluntary, and no one can be forced to sign a contract. There has to be a mutual agreement on all terms of the contract by both parties in the contract, which is monitored by the lawyer under whose supervision the contract is made. Susan
Posted March 28th, 2011 in Estate | No Comments »
 Markes Walls asked: The Indian real estate and Indian properties play a vital role in the economy of the country. It contributed heavily gross domestic product which is the GDP and is considered to be the second largest generation of employment after agriculture. India has become a preferred investment destination pertaining to the country economic stability. India is moving at a rapid pace towards fast growing economies as it is driven and influenced by many factor like robust economy-changing demographics, multinational entrepreneurialism, buoyant local stock markets and the overall emergence of India on the global stage. The demand for Indian properties both on the home front and commercial front has increased rapidly which has given the companies of the real estate to set up their strong footage in the country and add a new page to their success stories as well. Large scale real estate projects were launched in the country to meet with the demand and thus molded the real estate business into one of the most lucrative sectors prevailing in the country. The sector has attracted funds from overseas, private equity funds, public domestic funds and venture capital. However with the global melt down in 2008, Indian real estate was also engulfed in it, but is now believed to have broken the barriers and is moving rapidly up the stairs. Though the whole country is witnessing coming up of residential and commercial projects, but the cheery of the cake grabbing all the attention is properties Kolkata, properties Mumbai and properties Chennai. As due to their developing nature and demand for growth of industries, real estate companies have started off with some tremendous projects in these cities. It can be assured that projects when finished will be one of kind on the global front. The properties are characterized with lush green environment, hi storied buildings, hi tech facilities, lots of extra planned facilities like shopping malls, swimming pool, laundry services, sports room etc will make the individuals on the seventh cloud. These projects will make the individuals reside in their own unique mini world and eliminate the need of wandering outside the complex. The competition in the real estate sector is at its peak. Following cut throat competition between the companies, the consumer is the main beneficiary as he has got the best features and services at his disposal. Moreover if an individual is planning to make any sort of investment, the best offer id to invest in property Kolkata, property Chennai or property Mumbai. You can be assured that you shall never regret this decision of yours in your whole life and in fact will be proud to have made this. One should not delay as more than 80% of the ownership flats have already been sold and very few are left for those lucky chaps to come up. Cory
Posted March 28th, 2011 in Estate | No Comments »
 Jonathon Hardcastle asked: Real estate refers to immovable property such as land, which also includes rivers or streams that may be part of the land, as well as any physical structures that may be affixed to the land like houses, buildings or commercial establishments. The terms “real estate” and “real property” are often understood to mean the same thing, although in some circles, real property refers to the rights of the owner over the real estate. Both terms are used mainly in common law, which is further divided into property law, the laws that refer specifically to the property, and contract law, the laws which refer specifically to the rights of the person over the property. For centuries, people have viewed land as the primary measure of wealth. Even today, land comprises a large part of the fortunes of the wealthiest individuals and nations. Developing countries who are rich in real estate use this to attract foreign investments that can spur economic growth. However, in recent years, economists have noted that the key real estate investments into developing countries have been derailed by the lack of effective laws to safeguard such investments. The leading source of capital for purchasing and developing land real property is mortgages. These are loans that banks grant to individuals who use the real property as collateral. Mortgages are favorable endeavors for banks because they can’t lose: either the borrower successfully repays his loan with interest or if the buyer cannot pay his loan, the bank can claim the rights to the property through foreclosure, which is an action that is decided in a court of law. Once the property is foreclosed, the bank can sell it to recoup its loan. This is where economists raise a howl. An analysis of international banking and real estate laws reveals that, in many developing countries, there is no effective way for a lender to foreclose. With no legal or institutional protection, many investors are discouraged from investing in real estate in developing countries. Often, the mortgage loan industry is only open to a select few, mostly engaged in by a cabal of well-connected families who frequently use their social connections in matters of foreclosure. Lonnie
Posted March 26th, 2011 in Estate | No Comments »
 Peter Vekselman asked: You may be wondering if the title of real estate consultant is a meaningful one, and if it indicates anything different from the same old licensed real estate brokers with a vested interest in the fate of a property. While it is true that anyone can call himself or herself a consultant, the term is not meaningless window dressing. For those who take their real estate consulting business seriously, it represents a different model, a different approach to real estate practice. The first and most important difference is objectivity. Whereas a real estate broker typically is paid contingent on an outcome-in other words, they receive a commission-a real estate consultant is paid solely for their expertise. They have no stake in the outcome. Salespeople are paid only for getting a result-a sale. Real estate consultants are paid for their expert advice only, and by design have no stake in achieving a particular outcome to a particular transaction. This gives them the capacity to be more objective and inherently more trustworthy than a traditional real estate salesperson. Think about it-even the most honest salesperson will unconsciously try to steer you toward a sale. After all, that’s where their pay comes from-from selling! The consultant is paid the way other professional advisors or service professionals like CPAs are, with a retainer regardless of outcome. Consulting can involve a variety of skills and areas of expertise. You can hire a consultant for legal advice, market research, or to locate possible properties to invest in, among other things. Since they are paid as much for their time if they advise you that there are no properties in an area worth investing in as if they advise you of dozens of viable properties, they have no stake in anything except giving you the best advice possible. After all, their future business depends on word-of-mouth endorsements from investors like you. If you are looking for properties to invest in, a real estate consultant can tip you off to developer closeouts and bulk opportunities, equity partnerships, joint ventures, and possibly even some very unique and profitable turnkey investment opportunities. The consultant is selling information and expertise, and therefore can provide you with a layer of insulation between you and the people selling the properties. They can work out a lot of the details and business prospects of a property before you have to talk to a salesperson. Once you face the salesperson, you can approach the negotiation fully armed with an array of appropriate information, and thus avoid being bamboozled and negotiate from a position of strength. If, on the other hand, you are selling properties, especially if you have a lot of properties to sell, a real estate consultant can help you create a strategy to sell the units before you get involved with actual salespeople, which can have many advantages. For example, you can sell a lot of properties in a relatively short time without creating the appearance of a bulk sale by having a real estate consultant distribute the properties among several different sellers. Bobby
Posted March 25th, 2011 in Estate | No Comments »
 Vanessa A. Doctor asked: Various stories can be heard about the Real Estate Business. Some had been unfortunate enough to lost significant sums of money. On the other hand, those who have dealt with their cards wisely are now living comfortably, reaping the rewards of their company. So if you are thinking about a career in the Real Estate Business, you must understand that you will need more than just a set of good selling tactics. There are a lot of things you ought to learn to make it in the business. Real Estate, or immovable property, is a legal term that defines a land and anything affixed to it. The properties can be classified as residential and commercial. Consequently, Residential Real Estate Business deals with homes, while the Commercial classification is involved with properties used for business purposes. Although both types of Real Estate Businesses offer huge profits, one is riskier than the other. In Residential Real Estate, the clients basically want the same thing — a nice and comfortable home. Since you are also a homeowner, you would most likely have an idea of what your clients are looking for. You can then make use this fact to your advantage. This sense of predictability, however, is lacking in the Commercial Real Estate Business, as the field is more competitive and the demands are more diverse. Relentless investigation is necessary to succeed in the Commercial Real Estate Business. It could involve leasing, owning or selling of any commercial property. Real Estates involved in this side of the business are commercial buildings, condominiums, apartment complexes, and other business-related establishments, either for industrial or agricultural purposes. The company, therefore, thrives on the existence of other companies. Knowing what are currently in demand and weighing the pros and cons serve as preventative measures against pitfalls. Some companies have been driven to bankruptcy because of one major drawback. This aspect of the business is what makes it so perilous. Be that as it may, the compensation is worth all the risks. Aside from the financial benefits, the Real Estate Business also provides other tempting incentives. First and foremost, you can be your own boss. In other words, you can make and follow your own schedule, and have absolute control over your company. You can also take a break whenever you like, and not worry about company policies on sabbaticals. Having total authority over the company also holds you responsible for both its success and its failure. For that reason, having a reliable marketing strategy is important in the Real Estate Business. The talent of persuasion, combined with a good attitude and work ethics, can take your company to greater heights. On the contrary, one wrong move around a corner can drag your business down the drain. That is why it is essential to create contingency plans for every possible pitfall. It is one way of protecting your — and your clients’ — interests. Establishing a career in Real Estate Business needs a lot of effort. Surviving in the industry is yet another story. Nevertheless, the key to success lies in your ability to adapt. If you are up for the challenge, then getting into the Real Estate Business may suit you well. Danny
Posted March 24th, 2011 in Estate | No Comments »
lorapete asked: I am looking to become a real estate appraiser in the PA area. How long am I looking at to become an appraiser? Also, if you have an information on what steps are needed to take in to becoming an appraiser please share. Brent
Posted March 24th, 2011 in Renting & Real Estate | 1 Comment »
 Steven Gillman asked: With real estate flipping, the most you have to invest is an earnest money deposit. That is a big advantage over other forms of real estate investing. The downside? You have to spend a lot of time looking for deals. Flipping has a couple different meanings in real estate investing, depending on who you ask. Some say any fast purchase and resale, even if it involves making minor repairs and improvements, as “flipping” a property. The more specific definition that many use defines flipping as simply buying and selling without ever actually taking possession of the property. Can you make a profit buying and selling property without ever owning it? Yes. It is done commonly in some areas. It is a good way to use your real estate knowledge to make a profit when you have little money of your own to invest. Flipping Real Estate – An Example One night, at our local real estate investor’s meeting, an investor told me he recently found a fixer upper, but couldn’t arrange financing. He had an accepted offer, and there definitely was a profit to be made in improving the place and selling it. Fortunately, he had a financing contingency in the contract, so he would get his $500 earnest money deposit back. But he really didn’t want to pass up such a good deal. What could he do? He found a way to make a profit without actually buying the property. There are always other investors at these meetings that are looking for a profitable project. One of them was willing to pay to take the original investor’s place. The original investor sold or “assigned” the contract to him for $6,000. Since all he ever had into the deal was a $500 “good faith” (earnest money) deposit, he made a $5,500 profit. This is “flipping”. Notice that he didn’t need a down payment. He didn’t even have to buy the property to make money. There was enough potential profit in fixing and selling the property that other investors were happy to pay to take his place. There are a couple important points here. First, this guy knew how to find a good deal. Then, he put in his offer the right to assign the contract to another investor if he wanted to. This is usually done by writing “or assigns,” “or my assigns” or something similar after your name as the buyer. Find out what the most acceptable language is in your area. Some sellers may take issue with this. Simply explain that this is so you can bring in a partner if you want, or let your partner take your place. All the terms of the contract remain the same in any case. In fact, it means that if your financing isn’t approved, as in the above example, you will likely save the seller the trouble of finding another buyer by doing it for him. Notice that you can do deals like this with no money down. In the example above, if the original investor had put the $500 deposit on a credit card, it truly would have involved none of his own money. Of course, that outrageous 3% cash-advance fee and 18% annual interest for a month would have reduced his profit by $22 or so. Obviously zero down is possible and profitable if you start by flipping real estate. More About Flipping Usually buyers of contracts will not pay you until the deal is closed. This is only fair, as there may be issues that show up during inspections, or other things outside of their control that prevent the deal from closing. Although I use an example of a fixer-upper, any property that can be bought cheaply can be flipped. Even if bought at market value, the right buyer might pay you something to take your place. The main thing you need for real estate flipping is the courage to try it. Gail
Posted March 21st, 2011 in Estate | No Comments »
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