Being A Realtor

Pro #1 Achieving Freedom When top agents are asked what they like best about the real estate business, most of them will rank “freedom and independence” as a top benefit, with money often taking second place. The freedom and independence that comes with earning your own earned commissions is priceless! ; Pro #2 Feeling Responsible  As a real estate agent, you will often give advice to clients about their most valuable asset - whether it’s their home, a recreation property, or an investment property. You’ll be drafting contracts for clients, and working on transactions involving large sums of money. Corporate or institutional employees might work for years before they are given that much responsibility, if ever at all.   Related Topics: how much does a realtor make per home how much money does the average realtor make Pro #3 Being Respected When you arrive at a social event, the room won’t go silent because the real estate agent has arrived. However, you will be

The U.S. Bureau of Labor Statistics estimates that real estate agents made an average salary of $53,140 and an hourly wage of $25.55 in 2013. Earners in the 90th percentile made roughly $98,090 a year with an average hourly wage of $47.16, while the lowest 10% of earners made $21,240 a year with a $10.21 hourly wage.  Who is Real Estate Agent? Real estate agents help clients buy or sell residential and commercial properties and typically work under the supervision of licensed brokers.  Related Topic: The Pros and Cons of Becoming a Real Estate Agent how much does the average realtor make Agents stay up-to-date on market fluctuations and mortgage regulations to aid clients in making profitable property transactions. Salaries for Real Estate Agents Salaries for real estate agents vary by state, local area and industry. For example, agents in the Miami, Fla., area earned approximately $14,210 more annually than agents in the Orlando, Fla., area, according to the Bureau

It's clearly a popular business—whether you are a home buyer or seller, you're likely to work with a real estate agent for your transaction. According to the National Association of Realtors' 2013 Profile of Home Buyers and Sellers, 88% of home buyers worked with a real estate professional. Unlike other professionals who bill their clients at hourly rates, real estate professionals are paid at the end of a sales transaction. If a real estate agent works with a buyer or a seller for weeks or months without a resulting transaction, they aren't paid for their time. Real estate agent commission is earned based on the sales price of the home; they will receive that commission only after the transaction goes to settlement. How much do real estate agents make? Commissions are negotiable between listing agents and their clients. Some brokerages offer commission discounts for sellers, but a typical commission is 6% of the sales price. So how much a real estate agent

Real estate is a career with significant rewards and as many challenges. Though it can be lucrative, it requires hard work and sacrifice. If you’re interested in going into real estate, we’ve put together a list of the pros and cons of becoming a real estate agent.  Pro: You have the flexibility to choose your own schedule   A majority of real estate professionals get into the business because they want a flexible schedule, and it’s true, in real estate you are your own boss and can arrange your day so that you’re able to attend your child’s sporting event or be home for the after-school rush. You don’t clock in and clock out every day.  “There have been tremendous shifts in terms of when, where, and how people are working,” Sarah Sutton Fell, the CEO of FlexJobs told U.S. News, “and in the last five years we’ve seen a big increase in flexible work options, both being offered by employers and being sought by professionals.” Real estate is one of those prized careers that

Real estate agents make their money by arranging home sales and taking a cut of the sale price, usually in the range of 5 to 6 percent. This fee is typically paid by the seller at closing and gets deducted from the seller's money and given to his agent. The seller's agent doesn't get to keep all the cash, however. The seller's agent must share the bounty with the buyer's agent. If they didn't, Realtors would essentially work for free when showing houses, and no one wants to work for nothing. The 6 Percent "Tradition" Real estate commission rates aren't fixed , which means you can negotiate with your Realtor for a lower fee. Although a 6 percent commission is common, the average agent commission in 2015 was 5.26 percent. When discussing commission, you may notice that your agent frequently refers to a "traditional commission." This may seem odd, but it's quite normal in real estate circles. It's illegal for agents in an

Pros and Cons of Reverse Mortgage: Pros of Reverse Mortgages Provides flexible disbursement options (i.e. monthly or line of credit) Homeowner stays in the home without making monthly mortgage payments* Eliminate any existing mortgage Heirs are not personally liable if payoff balance exceeds home value Heirs inherit remaining home equity after paying off the reverse mortgage loan Proceeds are not considered income or otherwise, though you must continue to pay required property taxes** Interest rates may be lower than other options Cons of Reverse Mortgages Value of estate inheritance may decrease over time as proceeds are spent and interest accrues on the loan balance Fees are typically higher than with a traditional mortgage, such as the following: Initial Federal Housing Administration (FHA) mortgage insurance premium of 2% of the home value not to exceed $13,593 Ongoing annual FHA mortgage insurance premiums of .5% of the outstanding mortgage balance L

A Home Equity Conversion Mortgage (HECM), also known as a government-insured reverse mortgage loan, is a great tool to help you utilize the equity from your home and convert a portion of it into cash.  Thousands of senior homeowners have taken advantage of this beneficial tool since its inception in 1961, and you may be able to as well. Below are some qualifications and requirements as well as other obligations. Eligibility for reverse mortgages depends on: 1) General requirement (age 62+, is a homeowner & others). 2) Home qualifications (HUD and FHA rules). 3) Financial Qualifications (homeowner income and debt). General Requirements You must be at least 62 years or older Since reverse mortgages were designed to help seniors age in their homes, this loan is only available to individuals in retirement age. You must own your home You must be on title of the home. You must also either own your home outright, or have a low enough remaining mortgage balance for the reverse

How much does a Reverse Mortgage Cost? As with any other loan, the interest on a reverse loan is only part of how much it will cost you. There are also closing costs that you must pay; for the Federal Housing Authority’s (FHA) Home Equity Conversion Mortgage (HECM) product, these fees are mortgage insurance premiums (MIP) , origination fees, third party charges, and servicing fees. Since HECMs dominate the market, we’ll focus our attention here. Insurance Premiums When you are taking out one of these loans, you will need to pay a mortgage insurance premium at closing and an annual MIP for the entire life of the loan. The MIP charge at closing is calculated on the lesser of the appraised value of the home or the HECM loan limit, which is currently $679,650. The rate used to vary, but in late 2017 it became 2% for all borrowers. Though this is not an upfront cost, it is important to note that you will also pay an insurance premium throughout the life of the loan. This charge used to