Which Type Of Real Estate Agent Should You Hire To Represent You?

With today’s real estate market, it is easy to purchase a wonderful property at a fantastic price. There are numerous foreclosed residences now available on the market. These residences are listed at rock bottom prices as the mortgage loan providers simply want to get the amount of revenue due to them.

Using the services of a realtor can assist you locate the best package available on the market.

Continue reading to learn how to retain the services of a realtor that is perfect for you.

Three Types Of Real Estate Agents

In modern day housing world, you will find three types of real estate agents – a buyer’s agent, a dual agent and a seller’s agent. Each one of these types of professionals represents a party in the property purchase.

A seller’s agent:

Functions for the vendor and endeavours to get them the most amount of money achievable. The seller’s agent receives a proportion of the sales price, therefore it is within their best interest to obtain the optimum sales price of the property or home.

The listing agent is always a seller’s agent simply because they have a vested interest in obtaining the optimum sales price; therefore, they always represent the vendor.

A buyer’s agent:

Is employed by the purchaser and endeavours to save them the maximum amount of money when buying a property. Buyer’s agents receive a proportion of the sales selling price; having said that, the buyer also consents to pay the buyer’s agent a portion of the sale’s price.

This contract enables the buyer’s agent to generate a good profit while representing the purchaser. Typically a buyer’s agent charges you between four and six per cent commission rate for representation.

A dual agent:

Represents both the vendor and purchaser equally. This sort of business typically takes place when a prospective home-buyer employs a broker as a buyer’s agent, and then chooses to place an offer on a property or home that the agent has listed. This particular realtor doesn’t represent either client.

The real estate agent doesn’t supply guidance to either client. The broker only works to get the deal sealed. He’ll put in place the appointments for home inspections and discuss with the mortgage company, but will not offer guidance in terms of the sales price.

This particular agency is easily the most risky to both the real estate agent as well as the seller and buyer. The legal waters can be murky in this kind of agency, and ought to be avoided whenever possible.

In the present market, there are plenty of money saving deals to be found. Prior to hiring any real estate professional it is crucial that you are aware of the different types of agency offers available.

This article has discussed every type of realtor accessible to both sellers and buyers.

Utilise the information and facts above prior to seeking that perfect property or home. Then, venture out there and locate your real estate agent. You’re going to be rewarded with a wonderful bargain.

How Any Real Estate Agent Can Generate New Leads & Listings from Foreclosures

The title to this article is a pretty bold statement, but if you’ll allow me a couple of minutes of your time today, I’ll show you how you can take advantage of a brand-new Real Estate niche that most Agents don’t know about. It’s not that they aren’t aware of it; it’s just that they haven’t put two & two together.

This new source of Real Estate Leads could mean another 100 – 600 new, very motivated (Seller) Leads that are desperate for your professional help. And that’s only for a market of 100,000 homes. You’re market could have even more.

Why hasn’t this opportunity been available before?

Well, before now all the pieces were not readily available. Today, the technology is in place, the turnkey business-in-a-box-training-systems are available, and the market for this business is very ripe & growing.

Foreclosures will be the next big thing in Real Estate Leads

We are often asked by our Coaches Corner{tm} Newsletter Subscribers (350,000+): “What’s the next big thing going to be for Real Estate Agents?”

Well, if you asked me that question specific to Real Estate Lead Generation, I’d have to say Foreclosures & PreForeclosures are going to be the next big thing for New Real Estate Lead Generation.

You’ve probably already heard that Real Estate Foreclosures, as of April 2007 U.S. Foreclosure Market Report (published by RealtyTrac® – the #1 online authority for Foreclosure data), are up by 62% nationwide from April 2006. Some states are up by as much as 3,325% (New Hampshire).

Real Estate Foreclosures Rates continue to grow

Recently USA Today printed an article about the fact that 75% of the new home mortgages in California are No-Doc-Loans (some industry experts call them liar-loans). These No-Doc-Loans allow the homeowner to use stated income and often allow them to borrow more money at higher debt-to-income ratios than they could traditionally. The no-doc loans have become very prevalent in the last couple of years and are now widely used nationwide.

In my opinion, the majority of these liar-loans are Real Estate Foreclosures in embryo. It’s likely just a matter of time before the homeowners get into trouble and fall into Foreclosure.

Over a Million Real Estate Foreclosures Each Year

According to RealtyTrac®, with whom we’ve established an exclusive partnership, the number of Foreclosures will likely exceed 1.2 million this year if we continue at this pace. To read the complete May 15th, 2007 press release for RealtyTrac®’s U.S. Foreclosure Market Report click here.

What this means for the average Real Estate Agent in a market with 100,000 households is that about 127 new properties will enter some state of Foreclosure per month. Some of the not-so-average counties will see 431 new foreclosures per month for those same 100,000 households. So, that means that there will be 14 new Real Estate Foreclosure Listings per day per 100,000 households.

If you had the home seller information in a timely manner and were equipped to deal with this specific type of lead, it could mean 100 – 500 brand new leads every month in a market with 100,000 households.

Most Real Estate Agents don’t know how to handle prospects in Foreclosure and usually see them as junk prospects. So, there’s very little competition for you in this niche if you become a Real Estate Foreclosure Expert.

Couple that with a very highly motivated home seller, and you have a recipe for New Lead Generation Success.

Do you know your State’s Foreclosure Rate? If it’s only the national average, you’ll have 1 Foreclosure for every 783 households like quite a bit of the country? How many households do you have in your market, and what does that equate to in Foreclosures? A whole lot no matter where you live!

The Foreclosure Rates are growing almost everywhere and there are already an enormous amount of potential leads for you where you live, so take action and equip yourself with as much information as you can on Real Estate Foreclosures. The information will help you carve out a brand new niche in Real Estate Foreclosures in your area and help you grow your Real Estate Business.