Telko » realestate broker

real estate questions Clueless?

admin — Tue, 01 Mar 2011 04:29:05 +0000

So what are the people who bring clients to the home called and do they get commission and do they also list the homes and what is the difference between a restate agent and a broker and what are all the different jobs and how much schooling do you need for it i am only 13 but i love realestate only thing is i no nothing about it

It’s nice that you already know what you would like to do when you grow up, a lot of adults don’t know answer to this question. I think you should talk to your parents and contact some realtors in your area, take one of them to lunch or coffee and find out what you’d like to know. You can list real estate agents in your city and start from there.

Can you make a decent income as a tax preparer?

admin — Fri, 26 Nov 2010 03:16:13 +0000

I’m getting my ctc license to become a tax preparer and I was wondering if it would be worth it? I currently work as an insurance broker, and by nxt year i’m considering adding realestate to my services. Do you guys think this would be a good move and lead me towards more clients?

Do you perhaps mean CTEC Certification. In any case taxes and death are two things that are not going away soon. The only concern I have is experience. Getting a certificate and starting on your own is a very bad idea (in my opinion). Work some place where you will have experienced people to run things by and discuss issues with. Getting a client base can be difficult in any type of service and that is certainly true in tax preparation. Your insurance business may be a good start in that regard. In addition my "friends" at the IRS are in the process of making it more difficult to be a tax preparer so be prepared for changes in the qualifications.

Who is right? the broker or my cousin?

admin — Wed, 24 Nov 2010 09:53:39 +0000

Alright so my cuzo. is in realestate. and a broker. and they work together. and they both pay for a secretary.

so his total commission =$10000
and the secretary gets paid=$350
and he gets %70 and his broker %30

So his broker goes the math in splitting it up. But my cuzin feels that he is getting ripped off. becuase his broker uses one way to break the money up. but my cuzin found another to break the money up. and he gets more. and he asked why not this way? and his broker said, im the one with the degree here. so dont ask me that. so he is trying to find out, if from the 350 do you break it from $1000. and then %70 and %30. or first break the 10000, %70, %30. and then spilt 350, so each one at the end gives 175( 350 for secretary)

Heres the math

THE OPTION THE BROKER USES:
10000-350=9650
9650×0.7=6755 (cuzo)
9650×0.3=2895

THE OPTION MY CUZO FOUND:
10000×0.7=7000
10000×0.3=3000
and then subtract 175 from each person becuase they both split the money in half to pay their secretary.
ending in…
6825=cuzo
2825=broker

so in using the order of operations..i believe the option my cuzo found is correct. but his broker uses his option, and he get more money that way. so which one is the correct form?

do you break 350 from the pot? (10,000) or 350 after the split of 10,000?

There is no "right way" or "wrong way" to do this calculation unless they have a prior agreement of how it will be done… preferably in writing.

The difference between the two methods you describe could be explained as "Should the secretary be paid equally by each partner, or should it be treated as an expense of the sale"?

Without a prior agreement, I think that the secretary’s fixed payment should be treated as an expense and subtracted from the amount received, then the balance would be divided as agreed by the partners.

As an extreme example of why the secretary’s compensation should be treated as an expense, lets say that the proceeds from the sale were only $500. Then the division of funds would be:

Broker Method (secretary is paid as an expense):

Secretary $350
Broker 30% of $150 = $ 45
Cousin 70% of $150 = $ 105

Cousin’s Method (secretary is paid equally by each partner):

Secretary $350
Broker $500*30% – $175 = -$25
Cousin $500*70% – $175 = $175

Using your cousin’s method the broker would have to pay $25 to conclude this sale.

On more practical terms, the difference between the two calculations you describe is only $70, or slightly more than one percent of the total amount your cousin is receiving from the sale. Is it really worthwhile for your cousin to make a big fuss over that (relatively) small amount of money? I think it is likely that the method the broker is using for the calculation is customary, but if your cousin is unhappy with the arrangement there is no reason why he can’t negotiate (in advance, in writing) with the broker what the terms of the *next* sale should be.

Moving out of my parents house and into a new city – how much money do I need to save up?

admin — Mon, 22 Nov 2010 12:49:39 +0000

How much money do I need to furnish a small apartment and whatever else I will need for my adventure into a new city? Also is it true that using a broker or realestate agent type person is better because you are likely to get a better apartment at a better price than if you just went on craigslist?

quite a bit remember the electricity the transport and the food

What is with all the FEAR ,Republicans warn of Deficits/ Spending,Experts say economy Is Improving All Fronts?

admin — Tue, 20 Apr 2010 10:23:46 +0000

For starters the Tea party Movement claims to be protesting higher taxes, Only 3% of Tea Party members poled are aware that taxes have been lowered for 95% of working families. Financial experts / Wall Street Brokers say that all indicators point to a strong economic recovery in the next 2 years! " The #s dont lie". Even the housing market is expected to come back strong in 2011, some saying there will even be a housing shortage! Are the Republicans just using the Tea Party and Fox news to put out Scary prediction just to get Democrats voted out before things get better so they can take credit for the recovery like GW Bush did following Clinton?
http://economictimes.indiatimes.com/news/economy/finance/Budget-2010-FM-delivers-a-masterful-performance-on-all-fronts/articleshow/5631380.cms

http://seattletimes.nwsource.com/html/realestate/2011493819_realshortage04.html

http://www.france24.com/en/20091008-experts-say-health-reform-would-reduce-usa-budget-deficit-congress-obama
The Jobs will follow as the Economy regains strength, After the Damage done By Bush,The fact that the economy is already showing signs of recovery, WITH "NO cooperation from the Republicans" Some experts say it will take 100 years to completely reverse the harm Bush and the Republicans have done

My favorite line has to be "taxes weren’t lowered, they just weren’t raised (yet)". Which goes completely against what the Tea Baggers have been saying, that Obama started raising taxes before he was even in office, and that the government has been rooting through their wallets for over a year now.

Where can I find a reliable timeshare realestate broker who will sell our time share without upfront fees?

admin — Thu, 11 Feb 2010 03:02:59 +0000

To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam.

Unfortunately over 50% of people that really need to sell their timeshare falls for this resale scams where they charge money upfront and less than 10% of them use their only real option which is to post it or offer it trough free advertising options as much, and as many sites as they can (it is ok to pay a few dollars to post in a great place but no more that $20 to $30).

Timeshares do not have resale value and in most situations you would take a loss in what you paid for, as they resale for less than $2000 USD.

There are some free classified ads where you can start posting:

http://timeshareownerscommunity.com/
http://craigslist.com
http://ebay.com
http://recycler.com/
http://usfreeads.com/
http://www.inetgiant.com/

what is the percentage a realestate broker can charge for commission to sell your home?

admin — Mon, 08 Feb 2010 17:52:25 +0000

This is in California I need quick answers

The standard is 3% to each agent, so a total of 6%. You see 5 a lot too, but if you go too low the selling agents won’t show the house.

Power of Attorney Realestate?

admin — Tue, 19 Jan 2010 11:06:44 +0000

If i move out of State from Georgia to Newyork i heard that i can give my RealEstate Broker limited Power of Attorney with an experation date so that i do not have to wait for the closing.Is this true?Is this safe?

It is common all over the world you can give aspecific power of Attorney for the specific job and time limit get it registered/stamped and keep going. You are safe.*

real estate questions?

admin — Sat, 16 Jan 2010 03:06:58 +0000

The value of a feature that is present in the subject property but not in the comparable property.a: subtracted from sale price of the comparable B: added to sale price of comp C: not a valie variable in priceing the comp. D: none of these

An appraiser may substitute his own opinion in the place of reliable date A: if he has long experience. B: never. C: if requested by a supervisor. D: if it will increase the price of a property.

An appraiser needs A: realestate lisence. B: appraisal license. C: brokers license. D: affiliate brokers license

In the sales comparison approach the probable sales price of a building may be estimated by: A:considering sales of similar properties. B" determining accrued costs. C:determining construction costs. D: considering depreciatin

Which approach would be given the most weight in valuation of a "strip shopping center"? A:cost approch. B:income approach. C: cma D: none

Shouldn’t you do your own homeowrk?

Investment For A 16 Year Old?

admin — Sat, 09 Jan 2010 11:10:31 +0000

I’ve had a job for about a year now and i’m getting close to 4000 dollars. At first I thought i’d buy a car but what good would an old used car do a few years down the road, i’d just have to buy another one in a few years plus pay for all the repairs. So investment struck my mind. I’m only 16 though and have about 4000 dollars with a limited amount of income. This will be my first time investing and I’m not really sure how to do it and have some questions?
Can a 16 year old invest?
Do I have to invest through a broker? How does that work?
Is that enough money to invest in real estate? Is it possible to join in with other people investing in realestate?
Should I wait to invest because of the bad economy?

I know there’s also mutual funds but that doesn’t really appeal to me.

Best bet would be shop around for a CD (Certificate of Deposit). Stocks are risky at the moment, and are for more long term investments. Real estate is also shaky and for $4000 you really wouldn’t be able to do too much. You can get a CD at any local bank, they usually hold your money for 6 months to a year and can tell you exactly how much money you will earn for letting them hang onto your money for that year. If you want to learn more just click the link I have.