The Real Estate Market is Primed for an Upswing -- Get Your Real Estate License Today!

With the entire country in a recession and annual home sales at an all-time low, many people might tell you that you are crazy to consider becoming a real estate agent. But there are indicators that the real estate industry is about to undergo a major change. With interest rates lower than ever, undervalued home prices and limited new construction, the real estate market is primed for growth -- meaning opportunity for licensed professionals!

In fact, in February of 2009 the nation saw a strong sign that points to an upward trend in the real estate market. New home construction rose 22.2% and savvy home buyers are taking advantages of the low prices and the opportunity to lock in interest rates as low as 4.5%. So don’t be deterred by the past, take the steps that can help improve your life and provide some quality income for you and your family.

If you are interested in getting your real estate license, you can try and find a local real estate course in your town or city to help provide you with all of the information you would need to pass your state's real estate exam. Each state has different requirements and you should find out exactly what tools you need to become a licensed real estate agent. Nowadays, most people are choosing to take their required real estate courses online -- this makes it much easier for those people who have a full time job or for parents who have children at home.

You can take these online real estate courses when it is most convenient for you and you don't have to worry about attending a class or driving to a remote location. Most courses offer online quizzes that will help you hone your question and answer skills to prepare you for the state exam.

Once you are a licensed real estate salesperson and the housing slump is still in effect, you can begin to build a network of contacts in your community and start launching your real estate career. As the real estate market begins to rebound, you will be in prime position to reap the sales opportunities that are sure to arise when the economy improves. Of course, there is no guarantee exactly when the economy will turn around but by obtaining your real estate license now, you can be assured that you will be ready when the time comes.

The best part about being a real estate agent is the fact that you have a flexible schedule that will allow you to maintain your primary source of income while you start your real estate career. So what are you waiting for? Get your real estate license and seize this opportunity!

Labels: becoming a real estate agent, licensed real estate salesperson, Real Estate Agent, Real Estate Market, your real estate license

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Your Time is Worth a Buyer Representation Agreement

Obtain a real estate agent license and you'll be the one managing your time. So how do you know if a buyer is really serious? Ask them to sign an exclusive buyer representation agreement.

Say you've been working with a client for nearly three weeks. You've spent over 70 hours on their behalf researching the MLS and you've chauffeured them through various neighborhoods looking for the "one." Then out of the blue, you find out another agent submitted an offer on the buyer's behalf for a home you showed them. You've lost time, potential leads and gas money.

Although unfair, a buyer has no obligation to use your services, regardless of how long you've worked with them, if you don't have a buyer representation agreement in place. So, how does an agent get a client to work with them without scaring them off with a contract?

First, when meeting a new buyer/potential client, interview them and gage how serious they are about buying. If you decide they're worth your time, set a limit on the amount of work you'll perform on their behalf. After you've proven your dedication to their home search, it's more than appropriate to present them with an exclusive buyer representation agreement.

If the buyer declines the agreement, and you've assisted them to the very best of your abilities, take it as a sign to move on to new prospects. Your time is precious and you want to beat housing market challenges. Hopelessly fickle buyers are red flags that productive real estate agents avoid.

By Danielle Macklin, Allied Schools,www.realestatelicense.com

Labels: Real Estate Agent, Real Estate Agnet License

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Good News Thanks to Fannie Mae

Agents have a new way to beat housing market challenges, while buyers and homeowners alike have a good reason to smile. Fannie Mae, the nation's largest source of financing for home mortgages, announced in May of 2008 four positive changes to their policies and procedures.

Changes:

1. Homeowners can now refinance up to 120% of their home value as long as they are paying their mortgage on time.

2. Fannie Mae will buy jumbo-conforming loans for the same price they purchase other conforming loans through the end of the year.

3. Partnerships with state Housing Finance Agencies are being expanded. This will provide $10 billion in financing for qualified first-time home buyers.

4. A partnership with the Self-Help Credit Union will help qualified families get into foreclosed properties via a rent-to-own program. The program will focus on communities where the real estate markets were hit hardest.

Fannie Mai mortgages are available through a nationwide network of lender partners. Choose the best lender for your needs by checking out Fannie Mae's "Find a Lender Search" on www.fanniemai.com.


By Danielle Macklin, Allied Schools, www.realestatelicense.com

Labels: foreclosure, Real Estate, Real Estate Agent

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Online Real Estate Agent Reviews

Obtain a real estate agent license and you become a guide to clients who rely on your expertise. So why not get clients to document your hard work on an agent ranking site?

Websites like AgentRank.com, HomeThinking.com, IncredibleAgents.com and RealtyRators.com allow consumers to rate their real estate agents. Criteria can include knowledge, courtesy, communication, website usefulness and/or effectiveness. Clients can also leave a personal testimony.

So how does it work? Each site is different, but overall, you create a profile, add a short bio and upload your photo. Next, add a link to your profile and drive potential clients to your personal website. Not only are these agent ranking sites cool lead generation tools, but they can also help your personal website's search engine ranking.

Did you help a buyer avoid closing mistakes or provide advice on how to choose the best lender? It's nice to receive letters of gratitude from appreciative clients; however, asking them to share those thoughts on a ranking site is a strategic move that could enhance your business with little effort.

According to the National Association of Realtors, over 50% of consumers are beginning their buying/selling process online - this includes searching for the right real estate agent. Personal testimonials from satisfied clients will speak for themselves, can give you credibility as an area expert and make you accessible to potential clients across the country.

Some ranking sites even reward agents. For example, RealtyRators.com conducts spotlight interviews with agents who have an overall rating of 90% or higher. The interview is posted on their main page under the news area. Now who doesn't mind a little free PR for a job well done?

On HomeThinking.com, a user-friendly tool allows consumers to contact you via email with a click of a button. The contact tool is non-intrusive and includes optional information fields, so consumers are invited to contact you with a no obligation.

Now here's the key - you must always be on top of your game or a negative comment just might pop up on your profile. Wait until the very end of a transaction, and if you feel all parties involved are completely satisfied, ask them to post a comment.

By Danielle Macklin, Allied Schools,www.realestatelicense.com

Labels: How to get real estate license, Real Estate Agent, Real Estate Agent License

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How to Become a Real Estate Agent

Want to be your own boss and make your own schedule? If that sounds good, and you consider yourself an ambitious people-person, maybe it's time to enroll in a real estate license course.

Although requirements to obtain a real estate license vary from state to state, most require you to:

1) Be at least 18 years of age
2) Complete required real estate license course work
3) Pass your state's real estate license exam

Your required real estate qualification courses should be completed at a school with the proper accreditation or at a private real estate school with state approved courses. And times have changed. To obtain a real estate license, students use to have one choice - spend several hours per week attending class. Although this is a good fit for some, it's not the most efficient option for all.

While advancing your future, you may need to care for your family and/or hold down a job. That's why some choose to obtain their license from an online real estate school. Online classes are self-paced and can be completed from the convenience of home during your free time. Plus, a well-established school offers student support, so you always have answers to your questions. It's a convenient and cost-effective way to further one's career while attending to other important responsibilities.

Once a real estate license is obtained, new and exciting opportunities become available. You can help people with buying and selling homes, as well as leasing homes, buildings and land. You can also choose to specialize in areas or property types. For example, if you love horses, you could use your knowledge to specialize in ranch style homes on multi-acre horse property. There are limitless options - and it's all up to you!

Some licensed agents go on to get their real estate broker license. With a broker license, you can manage your own real estate office or even start your own real estate company. Requirements vary for each state. For example, to obtain a real estate broker license in California, you must have at least two years experiences as a full-time licensed agent within a five-year period.

Many states require continuing education to renew your real estate license(check with your state for renewal requirements). This is a great way to make sure you're selling techniques are current and that you're knowledge is at the forefront of the latest industry trends.

A career as a real estate agent may be the rewarding challenge you've been looking for. Verify requirements by checking with your state's real estate licensing commission, get started and become a success story!

By Danielle Macklin, Allied Schools,www.realestatelicense.com

Labels: california real estate license requirements, How to become a real estate agent, Real Estate Agent

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5 Buyer Pitfalls Real Estate Agents Help You Avoid

Purchasing a home is an exhilarating and overwhelming experience. Challenges may pop up, but certain mistakes can be avoided with the help of an agent on top of their real estate agent license.

1) Not knowing how much house you can afford.

Most agents advise clients to get pre-approved before beginning a home search. Why? Because buyers need to be realistic and look for homes in a price range they can comfortably afford.

Liz Pullman Wagner, author of 8 Big Mortgage Mistakes and How to Avoid Them recommends, "Limiting your housing costs, which include mortgage, property taxes and homeowner's insurance, to 25% of your gross income."

2) Messing around with your credit.

Agents will warn you - never close a credit card, especially if you plan on applying for a home loan within six months. "The credit score looks at the amount of available credit you've used on each card, but the more important number is the total across all of your cards," says Kimberly Lankford, a writer with www.kiplinger.com. "This ratio goes up whenever you close any accounts." According to Lankford, the lower your ratio, the better shape you're in.

Keeping an old card open shows a good history of managing credit. You can't erase bad credit history by closing an old credit card account, but it can hurt your good history.

3) Buying when you're not ready.

Do you have a crystal ball to predict a change in your job status or unforeseen health problems? Probably not. That's why a real estate salesperson will advise a buyer to have a financial cushion to ensure the mortgage is always covered. Additionally, if you're planning on having kids soon, getting a divorce, moving in the next few years or have a low credit score, you may also want to hold off on buying.

4) Not knowing the neighborhood well enough.

Work with an agent who thoroughly knows the community you're interested in - it's even better if they live there! Talk to neighbors, drop by the area at different times of the day to see what it's like and enlist the services of a real estate appraiser that's on top of their appraisal license courses. What if the college kids down the street throw loud parties, the street is a favorite commuter short-cut or the empty lot behind you is the future home of a night club? Find out!

5) Not researching licensed home inspectors.

A licensed home inspector is there to represent YOUR best interests. Talk to your real estate agent about recommendations and do your own research too. That way, one of the biggest investments of your life won't turn out to be sliding down a hill, infested with mold or something worse.

Yahoo! Real Estate columnist Ilyce Glink encourages buyers to make sure their inspector is licensed, bonded and insured. She also suggests accompanying the inspector to see the issues first hand, if any, yourself.

By Danielle Macklin, Allied Schools,www.realestatelicense.com

Labels: Real Estate Agent, Real Estate Agent License, real estate agent training

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Match Yourself with a Good Real Estate Agent

When choosing a licensed real estate salesperson, do you want a soft-spoken, polite agent on your side or an outspoken go-getter? A real estate agent that has sold 200 homes this year or one that has sold 25? It can be confusing to buyers and sellers as to how to select the right agent for their needs. The Yellow Pages or Internet list hundreds of real estate salespeople available in your area and there are more with their names on signs all over town. How do you choose?

The first step is to talk to your friends and neighbors and get a few referrals; attend local open houses; track neighborhood "For Sale" signs to see what homes sell fast; look at real estate ads for agents that specialize in your area; and source the Internet and phone book for names.

Once you have a handful of candidates, you need to conduct an interview with the real estate agents to determine who is the best fit. This is the most important part of the process -- it is through the interviews that you will learn who will best represent your interests. Be prepared with a list of questions to ask each real estate salesperson and take notes. Some questions that you might want to include are:

1) How long have you had your real estate license?
2) How would you market my property?
3) What separates you from the competition?
4) How many properties have you sold in the past five years? What is the average time they were on the market?
5) What is your success rate as a licensed real estate salesperson?
6) What happens once we buy (or sell) our house? Do you help find a home inspector, lender, appraiser, etc.?
7) What is your commission percentage?
8) Do you have references?

Remember what one person seeks in a real estate agent, might not be important or relevant to another. It is a very subjective process. By doing your research, talking to other people and conducting a thorough interview, you can determine the best real estate salesperson for you. Buying or selling your house is a major decision -- make sure you partner with the right real estate agent.

Labels: Real Estate Agent, Real Estate Agent License, Real Estate School

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The Right Broker for the Right Agent

You're a newly licensed real estate agent. You aced the state exam and now it's time to join a broker and start making some money. Everybody knows that most real estate brokers take on real estate agents as independent contractors and not as employees, so it doesn't matter whom you work for, right? Wrong! Just like any new graduate looking for a job, you must choose carefully and ask as many questions as possible.

The first rule of thumb is to interview with several brokerage houses. Notice which broker has the most signage in your city; look over local real estate publications and note the brokers with a strong presence. Talking with local real estate agents about area brokers is also important research.

The job interview process is your chance to ask the broker some important questions about how they run their business. For convenience sake, we'll just assume that the broker offers the standard commission split. A key area for inquiry is training and mentorship. A solid broker should provide some level of training for new agents, as well as an experienced agent who will mentor your progress.

Although you will be in business for yourself, some offices will provide computers, software, photocopiers and other support for their agents. Ask about a broker's policy. Some firms may expect you to bring your own computer equipment and pay for all expenses yourself. Get clarity on this!

Then we arrive at advertising. Like any business owner, you will learn that advertising is an expensive part of your operation. Ask the broker if the company pays for standard agency ads or whether you have to pay for your own individual listings. Also inquire about a bulk mail permit: many firms will pay the yearly fee for you, but others won't.

In the end, it's important to remember that when you interview at a broker's office, you need to have the attitude of a cautious home buyer. Your success as a real estate agent will depend partly on the level of cooperation, support and training you receive from a broker.

You didn't cut corners when it came to researching a real estate school, so don't shortchange yourself when it's time to find your first base in this exciting industry.

Labels: Real Estate Agent, Real Estate Agent License, real estate broker

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There's No Place Like an Open House

If you're a Real Estate Agent, the name of the game is finding serious, qualified buyers who can purchase your client's house. This seems obvious enough, but how do you sift through the merely curious shoppers and get to the real home buyers? One answer is to hold a successful open house. If all goes well, you can get several appointments for a second, formal showing with individuals who are serious about the property.

The key to making the most of a weekend open house is to pick the right listing. Before you agree to host a property, stop by and examine each room as if you were a potential buyer. The next consideration is price. There's no point in holding an open house for a listing that is overpriced -- nobody will come. And finally, there's the question of advertising. Some neighborhoods have so much weekend car traffic that taking out an ad isn't necessary. Do your homework: talk with colleagues and residents of the area and discover what you're working with.

Once you've agreed to show a house, go through it with the owner and make sure things are spotless. If there are knickknacks, decorating styles or pieces of furniture that detract from the house, delicately explain to the owner that putting them in the closet may help sell the house.

An important way to ensure you get people in the door is signage. Place a sign at the busiest nearby intersection. Then plant a trail of signs (with prominent directional arrows) that lead drivers right to the showing. Also, attaching a string of balloons to your open house signs will make them more noticeable.

Inside the house, there should be lights on in every room. If feasible, windows should be open with drapes and curtains pulled back. A generous spread of snacks and refreshments always goes over well (cookies seem to be a perennial favorite with visitors).

Finally, as people funnel into the house, resist the temptation to network and sell them on your other listings. Focus on selling the property at hand. Remember, these prospective buyers didn't stop at that fabulous four-bedroom house you represent on the west side of town. Show the home you're both standing in.

Labels: Real Estate Agent, Real Estate School

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Choose the Best Real Estate Agent

You've decided that it's time for a new house. You've watched the office become a nursery, the garage get taken over by bikes and toys and the small backyard become even smaller with the addition of a swingset. The decision is made, but how do you find the best real estate agent for the job? Buying a house is one of the biggest investments you can make. Make sure you have the best agent on your side!

The Search

Start by asking your family and friends for the name of a good real estate agent. If they've had a positive experience with someone, he or she might be a good candidate for you. If you plan to move to a new area and don't know anyone, you can use the Internet to find a realtor in the area. You can also drive around your desired neighborhood and see if the same name is on some of the real estate signs. This can indicate that the individual specializes in the area you want and might have extensive knowledge of the homes, schools and surrounding community.

Interview the Real Estate Agent

Once you've decided on a suitable candidate, you should set up an initial meeting. Use this time to find out additional information about the real estate agent. Some questions you should ask include:
-- How long have you been licensed?
-- Have you received any awards or recognition?
-- What will be your marketing plan or strategy for me?
-- What are you hours? How can I reach you?
-- How much do you charge?
-- Can you provide some references?
-- What separates you from the competition?

Keep in Mind

When asking the above questions, the real estate agent should be able to demonstrate the following:

-- An understanding of your needs - and be willing to work with you until your needs are met
-- A sense of professionalism
-- Dedication to their job
-- Familiarity in the area where you want to move
-- Ability to provide strong references
-- Accessibility

Choosing a real estate agent is like choosing a partner in the homebuying process. You want that partner to act in your best interests at all times. Make sure that he or she is qualified, has quantifiable experience and will represent you with the highest standards.

Labels: Real Estate Agent

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Take a Proactive Approach to Selling Your House

In today's real estate market, it can take approximately two to five months to sell your house. Of course, this is just an average with some selling faster and other houses taking longer to sell. As a buyer, you have the power to influence this amount of time. Don't just sit back and wait for it to happen -- take action!

1. Make the necessary repairs -- Why would you put your house on the market when things need to be fixed? Potential buyers almost always zero in on these defects. These problems areas need to be addressed right away. Don't wait -- fix that leaky faucet and replace that broken sprinkler head.

2. Adjust the price -- Of course you want to get the most money you can for your house, but you have to be willing to budge. If your house is on the market after a reasonable length and there is no activity, you might need to reconsider the price. This is especially true if other similar properties in the neighborhood have sold at a lower price, or if your property appraises for less than the asking price.

Click here to learn about online real estate school.

3. Be flexible -- You have to be willing to adjust your thinking based on the condition of the real estate market. If it is a seller's market, you have more freedom to stand your ground -- stay firm with your asking price, negotiate repairs, etc. If it is a buyer's market, you need to work harder to attract buyers -- lower the price if need be, meet all of the reasonable demands of the inspection report, etc.

4. Check out the competition -- You should always do this to get an idea of what other homes are available. Your home is going o be compared to these properties. How does it stack up? Make some necessary adjustments to give your home an advantage -- put fresh flowers in each room, put a fresh coat of paint on the wall, remove some furniture to create a more open living space, etc.

5. Create a good first impression -- What is the first thing people see when they pull up to your house? The front yard! Make this area appealing to the buyer. If they don't like what they see out front, it is going to be harder to sell them on the inside. Take the time and plant a new flowerbed, cut the grass and clear the walkway. A little work can go a long way.

Don't despair! One buyer is all it takes and that right person will come along eventually. If you do everything you can to make your home desirable, you will not have to wait long. Someone will see your house as their home and give you an offer you can't refuse.

Labels: Real Estate Agent

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The Housing Market: A Good or Bad Time to Buy?

Consumer confidence plays a defining role in the housing market. If consumer confidence wanes, the housing market experiences a downturn. If consumer confidence soars, the same market experiences an upswing in sales. As a consumer, it's important to follow the economic changes in our country because these changes can affect your own bottom line.

So, where are we now? You've heard about the good, the bad and the ugly for the past year. The housing market was on a major upswing for five straight years and then hit a snag last April when gas prices soared and interest rates increased. We heard about "bubbles" bursting in the West, a slowdown in the South, and over-inflated prices.

As a buyer, what are you to do? Do you wait or do you buy that house? There's good news on the horizon for 2007. The U.S. economy ended 2006 with a hopeful set of reports that showed consumer confidence soared in December. These reports also predicted that the worst of the downturn in the housing market might be behind us.

Consumer confidence rose to an eight-month high in December and was comparable to last April when it hit the highest point in four years. The National Association of Realtors reported that sales of existing as well as new homes actually rose in October and November, with the first back-to-back increase since spring. This is predicted to be a turnaround in the housing market. Prices are expected to continue to fall for several more months. It will continue to be commonplace for sellers to lower their asking prices to attract buyers for their homes. Buyers will have an advantage with low interest rates and more reasonable home prices.

Bottom line: Buy the house you've been looking at. The market has shifted from a seller's to a buyer's market.

Labels: Real Estate, Real Estate Agent

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Understanding the Closing Process

The day has come and you are about to close on your new home. Once all parties sign the papers, the deal will be officially closed and ownership of the property will be transferred to you. This is your opportunity to make any last-minute changes to the transaction.

The day before closing, be sure to gather all of the paperwork you have received throughout the home-buying process (good faith estimate, contract, proof of title search, private mortgage insurance, home appraisal and inspection reports, etc.). You may need to refer to these documents at the actual closing.

Most contracts entitle you to a walk-through inspection of the property 24 hours before closing. This is to ensure that the seller has vacated the property and left it in the condition specified in the sales contract. If there are any major problems, you can ask to delay the closing or request that the seller deposit money into an escrow account to cover any necessary expenses.

The Buyer's Responsibilities

At closing, your will be required to:

Sign legal documents - These fall into two categories: the agreement between you and your lender regarding the terms and conditions of the mortgage, and the agreement between you and the seller transferring ownership of the property. Be sure to read all documents carefully before signing them, and do not sign forms with blank lines or spaces.

Pay closing costs and escrow items - Borrowers handle the numerous fees associated with obtaining a mortgage and transferring property ownership in one of two ways. First, they either roll them into the principal balance of the new loan or agree to pay higher interest rates and have their lenders foot the bill. Second, some home buyers may be required to pay these out-of-pocket fees.

The Actual Closing

Although closing procedures vary from state to state, the following parties will generally be present at the closing or settlement meeting:
- Closing agent, who may work for the lender or the title company.
-Attorney: The closing agent may also be an attorney representing you or the lender. Both sides may have attorneys. You may or may not want to have an attorney present, depending on how comfortable you are with the mortgage provider or lending process.
-Title company representative to provide written evidence of the ownership of the property.
-Home seller.
-The seller's real estate agent.
-The borrower of the mortgage (you).
-The lender of the mortgage.

The closing agent conducts the settlement meeting and makes sure that all documents are signed and recorded and that closing fees and escrow payments are paid and properly distributed.

Once you've reviewed and signed all closing documents, you will get your new house keys and the house will officially be yours.

Labels: buyer responsibility, closing house, property inspection, Real Estate Agent

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Just the Facts: The Duties of a Real Estate Agent

As a real estate agent, you will help people buy and sell houses. You will enroll in a real estate license program to get the knowledge you need to accurately and legally perform your job. This will give you the knowledge to know how much a house is worth, and the skills to accurately represent the cities and neighborhoods in their area. You need to have practicing knowledge of the laws involved with the real estate process. You should also know where a buyer can secure financing.

If people want to buy or sell a house, they get the assistance of a licensed real estate salesperson. Your duties may vary, but you will typically perform the following tasks:

Buying a House

You will meet with the buyers to determine what kind of house they want.
You will discuss how much money they can afford to spend.
You will take them to see houses for sale.

Selling a House

You will complete the proper paperwork to list a house for sale.
You will assist the seller with selecting the sale price for their home.
You will create and place advertisements to get potential buyers into the house.
You will hold open houses.

After the Sale

You will fill out special forms to transfer ownership.
You will help the buyer secure a loan from the bank.

As a real estate agent, you will generally work in an office setting. Since much of the information about properties is available over the Internet, you can also work out of your own home. You might need a formal office, however, to meet with current and potential clients. A lot of time will be spent showing potential properties to buyers, as well as finding new business.

After you get your real estate license, you will work for a broker. When you sell a house, you will receive a commission, a percentage based on the total purchase price of the house.

Labels: After the Sale, Buying a House, Real Estate Agent, Selling a House

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