What are the steps to becoming a realtor?
Answers: first you need to take all of the relavant coursework to obtain a license in your state, including passing any exams. then you need to find a broker (any friends or acquaintances?), and they will need to sponsor your license (basically, as a real estate agent, you are working on behalf of your broker).
be prepared to stick it out for awhile too (both financially and mentally) - it can be tough to start and go 6 months before closing a sale and getting paid, and most rookies get discouraged in that time - but if you do your work and GO AFTER the business (rather than expecting it to come to you), you will be much more successful.
good luck!~
1. Education (Real Estate Classes, required for licensing)
2. State Test
3. Find a Real Estate Broker to work under, as the state cannot license you without you first being hired by a "broker" who will be responsible for your actions and oversee what you do.
You can find information on classes on line for most states
Check on your states website or thier requirements. But you typically have to attend classes and pass a state exam. Once licensed by the state, you have to put your license with a broker.
That is the quick & simple explanation.
Gift of equity home purchase from Father to Son. option?
Hello.I am seeking clarification of my options within a gift of equity home purchase situation. I realize I entail to discuss these details with my CPA, but I'm looking for some more detailed information from the real-estate point of judgment.
- My father's home is worth $289,000.
- He wanted to "gift" me $174,000
- Is in attendance anyway I can buy the home without losing any equity? Is near a difference if sells me the home for $115,000 or if he sell it to me for $289,000 (and I use the $174,000 gift as a down payment)? I beleive my loan officer told me that nearby is a difference, but either means of access, I'd be borrowing $115,000.
Can anybody please clear up this situation? I heard that one odds would require no money down on my part, where on earth the other would require 5% cash (which is no problem).
Any information is appriciated.
Answers: if he gifts the equity, later you can refinance the home with a loan contained by your name which may gather you on closing costs (not sure) - id suggest this over him 'selling' you the home for 115k.
any way, you probably wont enjoy to put any money down (the 5% cash), because taking a 115k loan out to buy a home thats worth 289k would be well below the standard 80% LTV ratio, and the 174k down costs in the other scenario would clutch care of that as economically.
"If you are going to be the on-site agent for a brand contemporary subdivision ?
"If you are going to be the on-site agent for a brand new subdivision to be precise being built, do you estimate it is better to look for a partner, or try to find an assistant? Why? The company wants the neighborhood man six days a week. M-TH 11-6 Sat 11-6 & Sun 1-5 Summer hours would be 12-7 I am married with a 12 and 18 year hoary and this schedule would show that my only afternoon off would be when my husband is working and kids are contained by school.Answers: I believe contained by order to represent someone else's property you own be licensed. If you could find a licensed agent that would work as your asst I would go that route.
See if the builder will income for an assistant. This person is within on the weekend when it's busy so that you can also meet near clients. They are also there when it's not busy during the week so that you can own 2 days off.
Explain to the builder that if you burn out, next it's not a good entry for anyone.
Our sales agent works 5 days a week on site and the sale assistant works 3 days a week. email me if you have other question about trial home sales.
I lift it you are a new agent...have only soon off during the week is par for the course when you are doing a modern subdivision.