Want A Thriving Business? Focus On REAL ESTATE AGENT!

This article is not concerning the secrets of buying a rental property for no money down and half the price of the market value of the house. I am not Tom Vu or Don Lapre and I am not in jail.

In Canada, the no money down home did use to exist, however, not anymore. Some banks and/or lenders were willing to lend you the 5% down payment so that you need not pay a dime out of your own pockets to purchase a house. However, given the current finances with tighter lending restrictions, there will be no bank or lenders who is able to do that in Canada.

The buying home for half price did use to exist as well. At one point, foreclosures in Canada would allow foreclosed homes to be sold at very cheap prices. The new law, which has been in placed for several years now require the homes be sold at the highest possible price for foreclosed homes if not the lenders could possibly be sued. Hence, sometimes foreclosed homes sell higher because Canadians have the misconception that foreclosed homes are a excellent deal causing it to have a reverse affect. There have been lots of people buying foreclosed homes believing they got much and not performing a thorough check regarding the actual value of the home.

Now, clearing out the quick money maker myths of buying homes, there are still a lot of things you need to be aware of before starting.

If there exist ever an industry with more sneaky sales tactics and money motivated people, it has got to the true Estate industry. As a buyer, you will be dishing out $350 000 and everyone wants a bit. The Real Estate Agents want a piece. The lenders want a bit. The lawyers want a piece and the sellers want piece. No wonder there are so many scams in this industry.

The first thing to be aware of is the AGENT. AN AGENT is suppose to act in your stead to buy or sell the home. Both the buyer of the home and seller of the house will have their own Real Estate Agent called a Buyer’s Real Estate Agent and a Seller’s AGENT.

In Canada, each Real Estate Agent gets an average of 2.5% and sometimes 2% for the commission of selling the house. Some Real Estate Agents provide cash back rewards. Canadian Real Estate Agents gets higher commission than somewhere else. In United States, their REALTORS only get 1% of the commission and their homes are actually much cheaper. Even though Real Estate Agents will be the least educated of the parties mixed up in buying home transaction, they seem to be getting the biggest piece of the pie.

Do not listen to their gimmicks on REALTORS are ethical. (http://www.howrealtorshelp.ca) Where do they get the idea any AGENT off the road is ethical. Their claim is based on these tests that they pass to become a AGENT. Agents passing a test will not meant hey are ethical. It only means they are able to remember enough to pass the test.

One would believe it ought to be the Real Estate Agent’s job to greatly help the buyer ensure the house is of value. estate agents Rightly so, many buyers be determined by the Real Estate Agent to safeguard them and provide them advice and in my opinion, the ethical AGENT should do that. However, the true reality is that Real Estate Agents do not earn money unless if the home is purchased. The reality is that the true Estate Agent’s salary is not truly dependent on providing you advice. The Real Estate Agent’s job is to get the buyer to buy a home through them to allow them to get paid!

As a result of this, what ends up happening, are two types of REALTORS with variations in between. The initial type is the honest agent with the belief “EASILY work hard and treat my buyer right, the customer will come back again to buy more homes from me. The second type is the “I need to get the buyer to buy a house quickly so that I can move on to another buyer (sucker) so that I could maximize my time for profit.” The end result is that you are looking for the first type and you also want to avoid the second type.

We’ll call the initial type, the Bad AGENT. We’ll call the next type, the Good AGENT.

So what kind of characteristics does the Good AGENT have that the Good Real Estate Agent does not have?

1. The initial characteristic is Patience. Bad REALTORS will try to sell you a home quickly to get the money quickly. Do not buy a house without spending a lot of time looking at a number of different homes. Be cautious of tactics such as REALTORS claiming it is the perfect and acting like a salesman rather than offering you information.