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Beginners Real Estate Investing Guide
Real Estate Investing - Ask
Questions Before Making an Investment
First Time Real Estate
Investor
Real Estate Investing - Planning
Your Investment Strategy
How to Find Real Estate
Investment Properties
Getting a Professional Home
Inspection
Large Profits From Inexpensive
Real Estate Repairs
Real Estate Investing - Costs
and Fees
Real Estate Insurance
and Risk Management
Real Estate Investment Risk
Part 1
Real Estate Investment Risk
Part 2
Getting The Best Return For
Your Investment
Creative Financing
For Real Estate Investors
Real Estate Investment Tax
Considerations
Real Estate Rental Properties
- Great Investment or Nightmare
Real Estate Foreclosures - Great
Deal or Headache
Flipping Real Estate for Profits
Slow Return On Real Estate
Investments
Negotiating for the Best Possible Real Estate
Deals
Real Estate - A Time to Buy and a Time
to Sell
Creating Your Real Estate
Investment Strategy
Investing and Growing
Your Real Estate Portfolio
Commercial Real Estate
Investing
Real Estate Marketing
Understanding Real Estate Law
Do You Need An Real Estate Agent?
What The Real Estate Mortgage
Lender Sees
Do You Have A Career In Real
Estate?
Rural or Urban Real Estate
Investments?
Real Estate Investing on the
Internet
Real Estate Investing
- Property or Paper? |
Real Estate Investing - Introduction
Real Estate Investing - Do You Need a Real Estate Agent?
When selling your home, you may or may not need a real estate agent. Today,
with the help of the Internet, selling your own property is more popular
and easier than ever. So, should you go FSBO or hire an agent? FSBO is a
common real estate term that means For Sale By Owner.
People who have sold property, with the help of an agent, have found that
their largest expense is usually the agents commission on the sale. Agents
often charge anywhere from 6% on up to 10% of the sale price. Agents, however,
work very hard to earn those commissions. They are, after all, experts on
the market and real estate sales process, and they have a wide access to
potential buyers as well. They are also expert negotiators.
But when you start doing the math, you may decide that you want to take on
the role of FSBO, do the work yourself, and put that additional 6 - 10% of
the sale in your own pocket. You must, however, know your market. If you
ask too much - even just a little too much - you will have to hold onto the
property for a very long time. On the other hand, if you don't ask enough,
you could sell it quickly, but lose money by not getting the fair market
value for the property.
Even if you are selling a property yourself, you still need to get a professional
appraisal of the property done. This is required. Then, you need to look
for comparable property in your area to see what the asking price is on that
as well. This is, in effect, your competition! This is where the Internet
comes into play, because you can find this information online, using the
same websites that real estate agents use!
Real Estate agents use services called MLS. These are databases that have
multiple listings, and other agents and potential buyers have access to the
MLS database. However, many MLS require that you be a licensed agent to use
the service. There is a fee to have access to the MLS, and if you can get
such a service, without having to have a license, this is one of the most
effective ways to advertise your property.
You must be a good negotiator. Real estate agents have learned, through
experience, how to effectively negotiate a deal. You need to learn, for yourself,
how to get a fair price that is acceptable for both you and your potential
buyer. Sometimes, this is quite easy, and sometimes it simply takes a lot
of work.
Once you have listed your property with an MLS, advertised it in local and
national papers, found a potential buyer, and negotiated a price, the work
is just beginning. Next, you must be aware of the complicated laws that regulate
real estate. There must be deposits made at certain times, in certain amounts,
in an escrow account. There must be insurance. There must be a title search.
There must be a contract. If you don't feel like you can handle those types
of details, you may be best using an agent.
If you don't currently know these things, you can learn them. There are books
and websites, and even seller-assistance businesses that will help you get
through the real estate transaction, from start to finish. While such things
may have costs or fees associated with them, they will still be cheaper than
paying a real estate agents commissions.
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Beginners Real Estate Investing Articles
How to Advertise a Rental
Property
How to Build Equity
in any Real Estate Market
How to Find Motivated
Sellers
Developing a Profitable Real
Estate Investing Strategy
Bird Dogging: Getting Started in
Real Estate Investing
Buying Your First Home
Using Lease Options to Purchase Real
Estate
Real Estate Foreclosures
Increase Your Net Worth Through
Real Estate Investing
Interest Only Mortgages
Real Estate Investing
No Money Down Real Estate
Investing
The Power of the Lease Option
Real Estate Investing Tips
Real Estate Investments
Refinancing Your Mortgage
Loan
Paying Your Mortgage
Selling Your House without a
Realtor
"Subject To" Real Estate
Financing
Using Trusts as a Real Estate
Alternative
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