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All Posts Tagged With: "agent"

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Are Broker Warranty Kickbacks Okay?

For some time there has been a nifty little side business in real estate: Your friendly broker offers a homeowner warranty program to reduce buyer worries about possible repairs. Such warranties may or may not be a good idea — you have to look at what’s included, what’s excluded, the up-front cost, the cost per [...]

6Jul2010 | | 1 comment | Continued
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Mortgages: The Hearing Washington Won’t Have

Yesterday was the big showdown on Capitol Hill, Goldman Sachs versus the universe. The universe won. In testimony before the Senate Permanent Subcommittee on Investigations various officials from Goldman Sachs responded to an assortment of allegations and outrage regarding their part in the sale of mortgage-backed securities. In basic terms, the folks from Goldman explained [...]

28Apr2010 | | 0 comments | Continued
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Real Estate Brokers Versus Salespeople — What’s The Difference?

A “broker” can be seen as someone licensed by the state and who works for another and for a fee. In effect, a broker is an “agent– who works for a “principal,– say a buyer or seller. As an agent, a real estate broker must uphold certain duties and obligations or his or her license [...]

21Nov2009 | | 0 comments | Continued
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Can I Back Out Of A Real Estate Listing Agreement?

strong>Question: What happens if you list a home with a real estate broker and then decide you don’t want to sell? Can the broker make you sell the property? Answer: No. You cannot be forced to sell. However, there can be financial consequences. A listing agreement is a contract between a property owner and a [...]

9Oct2008 | | 0 comments | Continued
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The End Of An Abusive Monopoly

It used to be that real estate regulation was an insider’s game, something that existed in large measure to protect brokers and salespeople from competition. To understand just how friendly the system was, consider these gems from the 1967 edition of the real estate laws in the District of Columbia: Individuals could work as real [...]

17Sep2008 | | 0 comments | Continued
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Should We End State-Wide Real Estate Licensing?

By it’s nature real estate is a localized commodity. If you’ve ever heard someone say, “my home would be worth $400,000 more if only it was located elsewhere” you can see the issue: Location is crucial. The home isn’t located elsewhere, it’s located where it is and that’s one reason it’s not worth an additional [...]

16Sep2008 | | 0 comments | Continued
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How Are Real Estate “Brokers” And “Salespeople” Different?

A “broker” is licensed to represent another and for a fee in the sale, purchase, rental, or exchange of real property. A “salesperson” — commonly called an “agent” is licensed to act under the authority of a broker and cannot directly contract with the public. Thus, for example, no money can be paid to a [...]

30Aug2008 | | 0 comments | Continued
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Must Brokers Disclose Their Licensure Status?

All states license the practice of real estate brokerage. A common provision of such laws is that real estate licensees must disclose their licensure status when they buy or sell a property for themselves, their company, for a spouse, a partner or for an immediate member of the family such as a parent or child. [...]

30Aug2008 | | 0 comments | Continued