I have been a real estate broker for over 40 years and during that time have owned a number of my own brokerages but now work under a franchised broker. What I discovered is that owning your own real estate office is a 24/7 job for very little money and extremel high liability. The average […]
Author: Michael Lee.
How do I become my own Realtor to buy a home?
Why on earth would you want to become a real estate agent to buy a home??? I assume you think you’re going to keep the commission for yourself. First, you’re going to spend several hundred dollars and at least a hundred hours taking the necessary classes and then sitting for the exam. Let’s call that […]
What is best real estate company to work for?
The best real estate company to work for is the one that best meets your needs. If you’re a new agent you need training, coaching and other support but you’re going to pay for it. If you’re an agent with 3–5 years’ experience you need help finding more clients on which to hone your skills. […]
What are some safety tips for a real estate agent hosting an open house?
Whenever we are allowed to hold open houses again I would NEVER hold one alone. Pre-coronavirus I would always co-host open houses with a lender for security as well as a good business practice. My open houses were always jam-packed so I could never have handled all the visitors by myself. The lender would ask […]
What is a reasonable offer below the asking price of a property?
It really depends on many factors: What are buyers paying for similar properties? What’s the current demand and competition for this particular property? In many cases right now buyers are lucky to pay full price for a home and get it. We had one property recently that had 20 offers and sold for more than […]
I want to invest in real estate on the side. Should I get a real estate license or pay the agent fees?
Unless you plan to take the time to learn the business and stay current with local, state and federal laws you’re better off paying the agent fees and writing them off. You cannot deduct your time and an investor who acts as their own agent not only doubles their liability but has a fool for […]
How can I find a cheap home inspector?
Why on earth would you want a cheap home inspector??? Let’s say the average home price in your area is $570,000. Even if a home inspection cost $570 that’s one-tenth of one percent of the value of the home! A good home inspector makes sure the foundation is sound, the plumbing and electical works properly […]
Are lenders more comfortable making 30- or 15-year loans?
Lenders tend to be more comfortable with 15-year loans because there is less risk of interest rate fluctions over 15 years rather than 30 years. That’s why 15-year mortgages tend to have slightly lower rates of interest unless we are in an “inverted yield curve” situation.
What do you think of people who decide to rent their whole lives?
I feel sorry for them because they are so short-sighted as research shows that homeownership in America is an important factor in building wealth. If you pay an average of $2,500 a month in rent for 30 years that’s $900,000 totally wasted that you could have put towards owning a home that would have provided […]
How much does a real estate agent make if he sells 50 million dollars worth of houses per year?
According to Core Logic the average home in the San Francisco Bay Area cost $935,000 in July of 2018. To sell $50,000,000 worth of real estate an agent would have to sell 1 home a week which, I would guess, less than 1% of all agents sell this many houses. In fact, in my experience, […]