Get your Real Estate License and Help Buyers Benefit from $8K Tax Credit

Congress passed legislation that provides a tax credit of up to $8,000 for individuals purchasing their first home. Help spread the word - get your online real estate license and begin a rewarding career where you make a difference.

As a licensed real estate salesperson, here's what you need to know in order to help first time buyers take advantage of this exciting opportunity:

-Your client must purchase a home sometime between January 1, 2009 and December 1, 2009

-The buyer or his/her spouse may not have owned a residence for at least three years prior to buying the home

-The maximum amount of tax credit given to those who qualify is $8,000

-There are two main factors involved in determining the total for each buyer: the price of the home and the annual income of the purchaser

-While the credit will be equivalent to 10% of the purchase price of the home, up to $8,000, single buyers who make $75,000 or less, as well as married couples who earn up to $150,000, are eligible to receive the most credit

-If a buyer's income surpasses these limits, but does not exceed the maximum, they may still qualify. The credit amount decreases for single buyers who bring in between $75,000 and $95,000, and for buyers filing jointly who gross between $150,000 and $170,000 per year. (Those with incomes that exceed $95,000 for singles and $170,000 for couples are not eligible for the tax credit.)

-Buyers who occupy the home for a period of at least three years are not required to repay the tax credit and, since it is fully reimbursable, can get their credit returned to them in the form of a payment

With the recent announcement of the eagerly anticipated guidance from the U.S. Department of Housing and Urban Development (HUD), there is even more positive news for first-time buyers. FHA-approved lenders have been given the okay to begin the development of bridge-loan products which will make it feasible to use the benefits of the federal tax credit upfront. Home buyers can use these loans to help cover closing costs, buy down their interest rate, or put down more than the minimum 3.5 percent.

First time home buyers are often unaware that these programs exist. Obtain your real estate license, educate first time buyers and transform them from renters to proud home owners - a dream they may have never thought possible.

Labels: home buyer, real estate license, real estate salesperson

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How to Get a Washington Real Estate License

Considering a career in real estate, but not sure where to begin? Check out this helpful step-by-step guide. Obtaining your Washington real estate agent license is easier than you think!

The Washington State Department of Licensing sets requirements for obtaining a Washington real estate license. Here's what you need to do:

1. Be at least 18 years old.
2. Complete 60 hours of approved real estate fundamentals education.
3. Prepare for your exam with prep materials.
4. Complete your exam application and have your school stamp required info.
5. Schedule and pay approximately $138 to take the exam.
6. Pass exam, complete application for license and include first license fee.

You must take your Washington real estate licensing exam within five years of completing your 60 hours of education. Also, once you pass the exam, your results are valid for one year from the date you pass your exam. Your first license fee is approximately $146.

Get started by locating a Washington real estate license course. Look for a Washington Department of Licensing approved school that offers online courses. That way, you can begin working towards your real estate career while maintaining other important responsibilities.

For additional information, like exam locations and schedules, visit the Washington State Department of Licensing website.

By Danielle Macklin, Allied Real Estate School, www.realestatelicense.com

Labels: real estate license, Washington Real Estate License

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Are the Home Association Fees Worth It?

Get a real estate license and you'll help clients avoid home buying pitfalls like moving into a community with a questionable HOA. Here's how to determine if their dream home is in a dream neighborhood.

Visit the HOA Office

Meet with a representative from the office and learn about what the HOA fees include. Also ask about the rules. For example, some communities don't allow cars to park on the street. If your clients have frequent visitors or if they have a large truck that doesn't fit in a garage, living in a community with strict HOA rules may not fit their lifestyle.

Review the HOA Budget

How are the HOA board members spending the community's money? Are they buying chairs for the community pool area when the landscaping needs dire attention? Overall, you want to make sure the board members aren't spending more money than their taking in. If they are, your clients can bet on an HOA fee increase in the near future.

Check the Meeting Minutes

Sit down with your clients and carefully review the HOA meeting minutes from the last six months to a year. It's a great way to see what's really going on.

Get a Disclosure Statement

Your buyer's disclosure statement should outline each HOA fee. It should also mention any special projects planned for the next year or two that will lead to an HOA fee increase.

Way the Options

If your clients find out the HOA fees will significantly increase, point out the positives. For example, an HOA will deal with a sloppy neighbor, and if the board members are making smart decisions, an attractive neighborhood could lead to a quick home sale in the future.

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

Labels: California real estate license, Real Estate, real estate license

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Tips for Renting Out Your Home

Have you ever rented your home out? If you purchased a residential investment property, you just might be an old pro by now. On the other hand, if you purchased a new home before selling your current home, you may need to alleviate the pain of two mortgages. No matter what your situation is, the following tips can help the rental process run smoothly for all parties involved.

1) Make sure your home is pleasing to the eye.

Renters value many of the same amenities/benefits that buyers seek out, so make your rental home inviting. This includes removing unnecessary clutter, making sure the lawn is freshly cut, adding a fresh coat of paint and having the carpets thoroughly cleaned. You should also take care of any of those repairs you've been putting off. Consulting a licensed real estate salesperson with a knack for home staging might help you rent your home out more quickly.

2) Set a competitive monthly rent.

Before deciding what to charge for monthly rent, do a little research. You can use websites like www.realtor.com to see what comparable rents in your community are going for. Is your competition including monthly utilities and lawn or pool maintenance? What about kitchen appliances and a washer/dryer? Consider all of these factors and set a monthly rent that falls within the average asking range for comparable homes in your area.

3) Promote your home to the masses.

According to the National Association of Realtors, most homebuyers begin their home search online. The same is true for renters. Post your home on your local newspaper's website, community specific websites like www.craigslist.org and national websites like www.rentals.com. If you're working with a real estate agent or management company, they can also put your home into your area's Multiple Listing Service (MLS).

Click here to learn how to become a reale state agent

4) Screen potential candidates.

According to Ted Kimball, a California based attorney specializing in landlord/tenant law, there are three basic areas that landlords need to check: credit history, past tenant behavior and criminal history.

"The best way to get good tenants for your property and protect your assets is to use a property management company," advised Kimball. "But if you're not interested in doing that, hire an objective third party to handle the screening of your tenants."

5) Rent with fairness.

Treat every potential renter you meet with the utmost respect. There are laws in place that protect renters if they feel they're being treated unfairly. For example, the Federal Fair Housing Act identifies seven protected classes: religion, national origin, race, ancestry, sex, familial status and disability.

According to the Federal Credit Reporting Act, if you turn down a potential tenant, you must provide in writing a reason why. For example, if it's because of their credit score, let them know that's why and refer them to the credit reporting company who provided the report for further information.

Violating the Federal Fair Housing Act or the Federal Credit Report Act could mean huge fines - whether you meant to or did so by mistake. If you're not using the help of a property management company or a real estate salesperson, review these laws carefully online and have your lease agreement reviewed by an attorney to protect yourself.

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

Labels: accredited online real estate school, How to become a real estate agent, real estate license

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Real Estate: Opportunity or Dead-End?

You've heard the news: home sales are down. As newspapers and television reports announce significant drops in real estate activity across the nation and focus on the rising number of defaults on sub-prime mortgages, you might be second-guessing yourself for considering a real estate career. Or are you?

The truth is that there is a light at the end of the tunnel. Here are some facts from the National Association of Realtors:

- The median price of existing homes edged up slightly in August, the first increase after a record 12-straight month decline.

- The Fed is expected to continue to cut rates for the rest of the year to help the country avoid a recession.

- Experts are forecasting that sales of both existing and new homes will stabilize in mid-2008.

It is predicted that there will be an adjustment period over the next few months when prices continue to decrease in order to help promote sales activity and reduce the number of houses on the market. However, this can be good news for your new real estate career.

You have the opportunity to enter the real estate market on its next upswing. By completing your real estate education now and applying for a new real estate license, you can be in a unique position to benefit when the real estate market corrects itself. Get started today at www.realestatelicense.com.

It is important to look to the future. In a time when many people are leaving the real estate field, it is actually a perfect time to consider getting a real estate license -- to prepare for the opportunities that lie ahead. A recession affected the real estate market in the late '80s, but everything eventually returned to normal. And it will this time as well.

In fact, Moody's Economy.com predicts that more than half of the 100 top U.S. markets will rise next year. The truth is, people will always have houses to sell and they will need qualified real estate salespeople to do it. It's just a matter of being ready when the time is right. Will you be ready?

Labels: accredited online real estate school, real estate license

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Is it a Good Time to Get a Real Estate License?

As the real estate industry cools, some people are wondering if it is a good time to consider a career as a licensed real estate salesperson. Yes it is! You have to remember that real estate is cyclical -- it is going to have its ups and downs. If it is on a downward turn, it is only a short period of time before it experiences an upswing -- enough time for you to get your real estate salesperson license.

Prepare for your real estate career -- You can complete your real estate pre-licensing courses and take the real estate license exam in a relatively short period of time. By taking the time to prepare for your career, you will be ready to go when the market is "hot" again. Take advantage of this time to enroll in a real estate program and get the education you need. You'll have your license in place when you need it most.

Set up your network base -- Once you complete your real estate education, you should start to make contacts. Join a professional organization, talk to friends and colleagues, and pass out cards in neighborhoods. By getting your name and face in front of people, they will be more likely to choose you as their real estate salesperson when it comes time to sell their house.

Know your area -- Do your research and make sure you are well-versed in the area in which you want to sell. Have an idea of the types of houses that are included, their approximate prices, schools in the area, etc. Your knowledge will make you a more valuable salesperson for someone wanting to buy in the area. This will set you apart from other real estate agents.

Experience less competition -- When real estate was though the roof, you probably had three or four friends that opted to become real estate agents. As the industry cooled, these people probably left to pursue other careers. This has left a need for qualified real estate salespeople. By entering the real estate field now, you will have less competition and greater chance for success.

Give your real estate career an advantage by thinking ahead. By taking the time to get your real estate salesperson license now from an accredited real estate school, you can be ready for the next upturn in the market. A little bit of time now can pay off for you later.

Labels: Accredited Real Estate School, real estate license, real estate program

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Baby Boomers are Leading the Real Estate Market

If you are looking to start or continue your real estate career, you might want to target the Baby Boomer generation. According to the National Association of Realtors, this group of Americans is leading the country in real estate ownership.

Facts & Figures

- Nearly 1 in 8 own their homes; they own more than half of all second homes.
- 1 in 4 owns a commercial property, second home or vacation property; one-third who own rental property have more than one unit.
- 1 in 7 own undeveloped land, with an average individual holding five acres.
- Their median household net worth is $149,500; 39% have net worths that range from $250,000 to $5 million.

Was does that mean for you? If you choose to get your real estate license and oversee home sales, you should concentrate your efforts on this target market. They have an abundance of finances that many of them are willing to invest in a variety of properties.

Known as "the greatest real estate generation," they plan to invest even more. Two-thirds plan to purchase a new primary residence; 26% plan to buy land; 19% will acquire rental properties; and 14% will invest in commercial real estate.

It is the ideal time to enter the real estate market as a licensed real estate salesperson or broker. As the economy thrives and interest rates remain constant, you will see this demographic expand their real estate holdings. This means more commission in your pocket!

Labels: California real estate license, home owners, real estate license, Real Estate Market, the greatest real estate generation

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The Difference Between a Real Estate License and Broker License

You've decided that you want to get your real estate license. You've heard of a broker license too. What is the difference between these two real estate professions? Unless you've been involved in a real estate transaction or are familiar with the careers, you might not know the exact differences.

If you want to pursue your real estate license, you should thoroughly understand the similarities and differences.

All states require that real estate sales professionals, including salespersons and brokers, be licensed by that state. Brokers will generally be required to complete more real estate education and experience than a salesperson.

A real estate agent is usually an independent contractor who provides his or her services to a licensed real estate broker on a contract basis. In return, the real estate broker pays the salesperson a portion of the commission earned from the agent's sale of the property.

Real Estate Salesperson - An individual who can show property for sale on behalf of a seller, but who may not have a license to transact the sale and collect the sales commission.

* Assist sellers in marketing their property and selling it for the highest price.
* Assist buyers in purchasing suitable property for the best possible price.
* Acts as an intermediary between the buyer and seller.

Real Estate Broker - A person licensed by his or her particular state to charge a fee for bringing a buyer and a seller together to purchase real estate.

* Assist sellers in marketing their property and selling it for the highest price.
* Assist buyers in purchasing suitable property for the best possible price.
* Acts as an intermediary between the buyer and seller.
* Buys and sells real estate for a company or individual on a commission basis.

Real estate salespersons and brokers perform many of the same duties including: obtaining listings, determining sales price; showing properties; assisting with financing; selling property; overseeing inspections, and more.

The state examination, which is more comprehensive for a real estate broker than an agent, includes questions on real estate transactions and laws affecting the sale of property. Most states require that a real estate salesperson complete between 30 and 90 hours of instruction. A real estate broker needs between 60 and 90 hours of real estate education and a specific amount of experience selling real estate (usually 1 to 3 years).

Labels: broker license, California real estate license, real estate license

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Don't Let Gas Prices Keep You From Getting Ahead

You want to get your real estate license, but with rising gas prices you don't want to travel back and forth to school everyday. What do you do? You can get your real estate license online by enrolling in a distance education course.

High gas prices are affecting everyone around the nation. When it costs the majority of Americans more than $50 to fill up their cars (MSNBC online survey), they are going to opt for cheaper alternatives. With telecommuting, home-based businesses and home schooling, there are many opportunities to conduct daily activities from home. Why not get an education from home?

Distance education enables you to pursue your real estate education without having to drive to a different location. You can attend an online real estate school from home. With online or traditional home study courses, you can advance your career through the use of your computer or textbooks, CDs, study guides, and more. Get ahead while you save money!

According to MSNBC, many people have changed their driving habits to cut down on gas costs, oftentimes staying home instead of using their car. With today's educational alternatives, you can do it all from home. Don't make your real estate education an exception.

Get your real estate license today by enrolling in an online real estate course. You can advance your career without cutting into your wallet.

Labels: distance education, real estate education, real estate license

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A Positive Outlook for Real Estate

There is one word to describe the current housing market: optimistic. Despite months of hearing about a housing bubble and rising mortgage rates, the outlook for real estate is good.

The worries of a bursting real estate bubble actually seem to be low among homeowners. In a national survey conducted by ING Direct, most individuals experienced some growth in their home value in the past 12 months. The average increase was approximately 6%, with owners in New England and Pacific states having the largest growth. The values of homes in south central states remained about the same.

Most homeowners do not seem concerned about a downturn in the real estate housing market. Almost 74% of the individuals surveyed, who have owned their homes for more than three years, remained optimistic about the value of their home.

The 30-year fixed rate mortgage is at its highest point in four years. However, as it hovers at 6 percent, it is still a relatively low rate compared to the exceedingly high rates of the late 1980s when mortgage rates increased to over 10%.

According to Freddie Mac, there are indications of a strong economy, which is why mortgage rates have increased lately. Consumer confidence is on the rise and existing home sales is also on the upswing. This can be attributed to a positive labor market. As most people know, healthy employment leads to greater consumer spending.

Consumer perception is everything. With the continued view that real estate is a good investment, people will continue to buy and sell houses. This will bode well for home buyers, home sellers, real estate salespeople, mortgage lenders and just about anyone related to the real estate industry.

Labels: outlook for real estate, real estate license, real estate salespeople

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Succeed With Essential Real Estate Tools

It takes dedication and perseverance for real estate agents to experience success in their field. The secret to this success is having the right tools of the trade. This can set them apart from the competition and allow them to present themselves in a professional and effective manner.

Many people get their real estate license, but don't take the next step in their career. They fail to equip themselves with the tools that will help them succeed. They've dedicated valuable time and money to become an agent. If they want to progress in their career and experience a high level of success, they need to get the resources to move to the next stage of their career.

The truth is there are things they can do to drive their real estate career. Agents are not bystanders when it comes to their professional career; they are in the driver's seat. What can they do to succeed? They can use the web as an effective real estate tool. The real estate market is shifting away from traditional selling methods to Internet-based real estate sales. To stay effective in today's market, agents need to employ current marketing trends.

Professional Website

The first step real estate agents should take is to set up an effective website. Having a professional web image is vital to any successful career. Even though they work in a real estate office with a team of co-workers, they need to set up their own storefront on the web. This serves as an invaluable resource for their clients by providing them with useful and effective information.

Features: The site should include important tools that clients need in their search for a new home. Gone are the days of passive homebuyers. Today, people want to be involved. With the proliferation of the Internet, they expect to have the information they need at their fingertips. An agent's site should include aerial maps, listings, podcasting, and multimedia listing pages. These innovative features can give a real estate agent an edge in the marketplace.

User-friendly: High-tech sites don't have to be difficult to use. They should be designed to be easy for any individual to navigate. Clients want to get information in a fast and easy manner. The site should include prominent menu prompts and buttons to make it simple to move from page to page.

Valuable: The main goal of the website should be to provide the homebuyer with a sense of value. Clients should walk away from the experience feeling informed and satisfied with the overall process. An effective website can make them feel like they're in the loop, or in control of their homebuying experience. This can provide a real estate agent with an advantage. Clients will be more likely to come back or refer other people to that agent.

There are companies that will assist real estate agents with their website needs. Agents can pay to have someone create their site, or develop the site themselves through the use of easy-to-use software.

Lead Generation

An effective website alone will not get real estate agents enough business to sustain a long-term career. They need to take the necessary steps to facilitate lead generation. Lead generation is an effective way to get actual real estate leads. There are only so many referrals that agents can get from friends, relatives and former clients.

Lead generation provides them with an effective way to get business from the Internet. They can turn web visitors into real clients. The success of this relatively new concept is dependent on successful web marketing strategies that include:

Linking to other websites: This is the perfect opportunity for agents to increase exposure to their sites. It involves putting a link to their homepage on an affiliate website. This link enables people to access the agent's site from another source.

Maximizing search engines: There are different techniques real estate agents can use to increase traffic to their website. First, they can place keywords in their text to help generate a higher ranking on the major search engine sites. Second, they can arrange to bid for a sponsored website listing, which involves an advertisement that appears at or near the top of a major search engine results page.

Using lead generation software: This is an effective way to get qualified real estate prospects. With the use of the Internet, the majority of leads can be generated through a computer. Agents can use sophisticated software to attract prospects and capture their contact information through the use of e-mail campaigns, drip e-mail marketing, contact managers, and more. (Oftentimes, web development companies or software programs will include these features when designing a new site.)

The Internet has changed the way that homes are sold. Today, clients are increasingly more hands-on in the real estate process. Agents can embrace this change by tailoring their practices to meet the growing need for information and two-way communication. By providing clients with what they want and expect from the marketplace, real estate agents can secure a firm place in an ever-changing field.

The web can open the door to unlimited marketing opportunity for real estate professionals. The possibilities are not limited to the strategies listed above. Real estate agents should develop their own marketing plan, or way of effectively selling their services. By incorporating simple techniques, they can set themselves apart from the competition and develop a long-term career.

Labels: real estate agents, real estate career, real estate license

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