Scam And Fraud In Real Estate To Be Avoided | Jeff Adams Reviews
Computers & Technology → Blogging / Forums
- Author Jeff Adams
- Published June 11, 2010
- Word count 608
Real estate investment is completely different from personal buying or selling of properties. You may buy a property for personally occupying it. But real estate investment is exact opposite in which a property is obtained or sold for making profit. Here, the user would not directly use the property.
The investment real estate strategy would be entirely different with each realtor. Some would buy substandard property, renovate it as cheaply as possible and sell it immediately. While some others would buy properties foreseeing an increase in value. They sell at a profit when the increase happens. Yet another real estate strategy is the lease method. Here, the owner would try to make some profit by charging rents higher than the mortgage and other maintenance costs. Some owners would even rent out the property and plan to make some profit after paying the mortgage. The real estate investment is not only about residential properties. There is also commercial real estate involving investment property as well. However, the strategies involved in the both the methods would be almost the same.
The real estate brokers are inevitable parts in the investment real estate. They are professionals who are trained to function as a mediator between the buyers and sellers. The main difference between the real estate broker and agent is that the latter is more focused in achieving the sale of the property while the former acts as a liaison. The real estate brokers would search for potential buyers who are looking for property that the seller wants to sell. They would make sure that the deal is agreeable for both the parties. Generally the real estate brokers would be focused on a locality and are associated with a local realtor. They largely help in creating rapport between the buyer and seller in a friendly manner. The brokers would sometimes be rewarded with a commission for his work
Quite often the REALTORS and real estate agents are misconceived as the same. The fact is that REALTOR differs from a real estate agent in some ways and the requirements for the two are different. A REALTOR is a real estate agent who has become both a broker and also a member of the National Association of Realtors. This designation is considered as the largest professional association of real estate professionals in the world. On the other hand, a real estate agent is a person who helps others buy and sell houses and any other types of physical property. So for becoming a REALTOR, the person should first become a real estate agent.
The first step to take in becoming a REALTOR would be to start out as a licensed estate agent. Generally the potential realtors would require a high school diploma or a general education development diploma. The minimum age requirement is 18. The licensing criteria in the state should also be met as it asks for completing certain courses and exams before you can achieve a real estate license.
The next step is finding an approved real estate course in your location. After completing the course, the candidate would be asked to take the real estate exam. After clearing the exam, they can apply for the license through the state licensing department. The real estate agent should now work with a REALTOR for about two years and later should attend the broker exam. If he passes the broker exam, he would be considered as a person with extensive real estate agent experience and additional broker training. Then the agent can apply for the membership in the association. The main profit of getting the membership is the reputation that comes along with it.
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