All Posts Tagged With: "broker"
Factoring Real Estate Commissions — How It Really Works
Most of us like to get paid for our work, the sooner the better. But in real estate this is a major problem because brokers are routinely paid weeks and months after their work is completed. In the usual case, brokers are hired to find a buyer or locate a property consistent with client requirements. [...]
6Sep2008 | Peter G. Miller | 0 comments | Continued
What’s a “net” listing and is it good for sellers?
Imagine a situation where a real estate broker said “your home is worth $300,000. But instead of taking a commission on that $300,000 value, my fee will be limited to everything above that figure.” Sounds pretty good – unless the home is worth substantially more than $300,000, something a broker would know but an owner [...]
2Sep2008 | Peter G. Miller | 0 comments | Continued
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 | Peter G. Miller | 0 comments | Continued
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 | Peter G. Miller | 0 comments | Continued
Why Do Real Estate Brokers Have Escrow Accounts?
In terms of a real estate sales agreement, an “escrow” or trust account is typically an account operated by a real estate broker which is used to hold buyer deposits until closing. Example: Buyer Smith makes an offer to purchase a home. With the offer is a $10,000 deposit. That deposit is held by Broker [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
Why Can’t I Stay At My Open House?
Both you and your broker wish to market the property for the best possible price and terms. It’s possible that a buyer will simply say, “I’ll take it,” and agree to all your requirements, but a more likely scenario is that both sides will have various issues to negotiate. Thus, the broker wants to have [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Five “Big” Real Estate Questions Test Common Sense
It must be a full moon or something in the water, but of late the five “big” real estate questions have arisen from the muck with greater frequency than usual, questions so lacking in logic and reason that I trust such queries are raised only as a kind of test, something to measure patience rather [...]
28Aug2008 | Peter G. Miller | 0 comments | Continued
Must Buyer Brokers Be “Exclusive”?
For several years there has been a debate within real estate regarding who or what may use the term “EBA” or “exclusive buyer agency.” At first this may seem like an obscure dispute, as in “who cares?” But in fact, the matter has importance for buyers, sellers, and the brokers who work with them. On [...]
12Aug2008 | Peter G. Miller | 0 comments | Continued
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