Prospective real estate investors may have heard, or experienced unusual selling pitches or come-ons, like offering buyers the chance to learn how to become a real-estate investing millionaires, by offering dubious rates, extra perks or add-ons.Be on the lookout for the scamming real estate broker. However, not all real-estate investing seminars, or brokers are bad bets, of course. There are many who will help you learn about the business of investing and can be a worthwhile expert to ask for reference.Recently, the U.S. Federal Trade Commission has issued advisories to consumers for them to be suspicious of claims that money can be earned fast, and investment growing rapidly high in short terms, despite lack of experience, and that making money using the flawed broker’s formula is not truly a sure thing.The number of seminars offered by real estate brokers to would-be property investors has exploded along with the booming real-estate market. These seminars are distinguished from professional or academic courses that focus on specific topics, such as real-estate demographics.It isn’t unusual to see ads for public seminars promising to teach you all about the art of buying real estate, like just in three days. Such seminars often usually free, and are intended to entice you to pay for additional knowledge at future conferences.The real estate agents have a valuable source of potential deals for the real estate investor, in the Multiple Listing Service database. However, be wary that only real estate agents have a monopoly on this information, so keeping tabs on such list may be a necessary part of an investor’s game plan.Properly dealing with real estate agents can be difficult as an investor. Most agents would prefer home buyers with cash to put down, good credit and conventional buying power. Their main interest is getting a commission with a few hassles as possible. Most agents have never done a creative real estate transaction with an investor, so they are not often receptive to unusual offers. Most agents equate a nothing down offer with a buyer who is not serious.Here are a few tips on keeping a keen eye on scamming brokers.Stay clear of the bully, uncooperative broker typesIf you cannot speak softly to a overbearing broker, don’t be afraid to stand up to him. Some brokers are unethical and often refuse to present your offer. In addition, many times the broker will lie and tell you that your offer was rejected when, in fact, it was never presented. If this happens, do not be afraid to go over his head to the listing broker. If the listing broker is uncooperative, deal directly with the sellers themselves, and skip the middlemen.Offer a short closing date to your brokerAnother way to get an agent to take you seriously is to offer a fast closing time. Nothing makes an agent drool more than the thought of getting a commission check in ten days. If the agent has another offer presented to him, he will usually advise his client to take the offer with a larger earnest money and faster close than an offer which is higher in price.Insist on doing your own computationsSometimes you will get the other end of an uncooperative agent, that is, an overzealous broker. Be suspicious of any broker who tells you what a deal you are getting on a property. Should it be a good deal, then why didn’t he buy it? Don’t take the broker’s word as to the value. Ask for printouts or info on comparable sales.Be aware that information contained in the MLS database was entered by the listing broker and may be falsely inputted. If a comparable sale shows the same square footage as the house you are looking at, try visiting the area to see if it truly is accurate. Do your own assessments of property values.Real Estate Press – http://realestatepress.org
Whether you want to buy or sell a home chances are you are mentally wresting with the decision of hiring a real estate broker. There are good points and bad points to consider when making your choice. We are going to spell out a couple of each for you.One disadvantage to hiring a broker is that they do not come cheap! You will pay a pretty penny for their services! You will need to set a higher selling price for the home in order to cover the expenses of a broker. If you are the buyer; you may only be able to afford a lower-priced home because of the fee YOU are expected to pay to her. Is a broker really worth all of this money? Why not just take matters into your own hands and do things yourself?Let us now look at the other side of that coin. Do you have the knowledge to effectively negotiate a real estate deal yourself? Do you know the ins and outs of the real estate world or the current market or the applicable laws and resulting fees? What about all the paperwork involved with your transaction? How will you know if you are filling all the forms out correctly? Who is going to arrange for and be there for the home inspector? These are all the little minute details that real estate brokers routinely take care of. So maybe they are worth the fee you will pay.Some people might think that a broker will not have their best interests at heart. Maybe all they want is to collect their paychecks and move onto the next deal. These things can be viewed as disadvantages for hiring a professional. After all; who will look out for number one in your real estate deal better than you, right?Let us take the logical view of this argument. Who has the knowledge to really look out for your interests in your real estate transaction? Who else will be there to guide you every step of the way? Who will get up in the middle of the night when something is desperately going wrong with a part of your deal to help you fix everything? Who else is going to spend her weekends finishing up your arrangements with your mortgage broker? These are all just a part of the job that an excellent real estate broker will perform without hesitation.Our overall point here is that you must weigh all aspects of a real estate deal; no matter which side of the deal you will be on, and decide on your own. Nobody can determine this decision for you. If you have your own experience in the real estate industry you might be able to handle everything by yourself. But there are many parts to it that you ought to be aware of before you venture into a decision. Remember, this is YOUR money and YOUR investment. Therefore you will want the best person possible to be in charge of the deal. Only you can make the choice on who that person will be.