Hi Joan. Just to reiterate, because sometimes six exact responses are simply not enough.
OP = Owner pays the brokers commission.
NO OP = YOU pay the brokers commission.
What does it all mean when we out it together? You pay first month's rent (maybe even first and last) and a security deposit that is usually equal to a full months rent. Then, you also pay the brokers commission which might be up to 15% of the yearly rent (approximately equal to a month and a half's rent).
Keep in mind we are in the rental season big time and there is little available. Get with a broker, get your paperwork together and get serious. Good luck.... more
Its best to get recommendations from your friends that are agents. I'm with VasTree in Los Angeles. I don't think they are taking agents in New York right now. Good luck!
Marina from www.VasTree.com... more
you may ask other agents in your firm how many they do on average per month ...to me it does not sound too realistic but may be it is just my experience
I get calls from all over the world and they state that they are investors, or large funds, but have never materialized into anything worthwhile, so I dont know if I would classify them as a scam so much as just a waste of time.... more
Yes, I strongly recommend conducting an inspection before signing a contract. I have worked with many clients who have walked away after seeing issues the inspection uncovered. Please do your homework on choosing an inspector as many do not perform thorough inspections. Checking for termites, radon test and ensuring there are no existing underground oil tanks are just a few of the major priorities. I have an excellent inspector in Westchester & Putnam I have been using for years if you are interested.
Michael Oliva
Licensed Real Estate Associate Broker-Rutenberg Realty NYC &
The Realty Exchange-Westchester County NY
moliva@rutenbergrealtyny.com... more
Excellent, excellent advise provided by Jim, Dan and Karia.
What is so 'doubly good' about their guidance is they truly reflect the options one can use based on the internal wiring of the agent, which determines their optimal performance zone. There are no WRONG responses.
If you elect to proceed with direct mail, know the numbers.
Mass mailing has less that 1% response rate. High postal cost, little time invested.
Personalized mailing has a 4% response rate. Smaller mailing, more direct time.
VBM mailing will have between 8 to 12% response rate. Very small, macro mailing, highly leverageable.
The effort invested in making each mailing PERSONAL and relevant will dictate the response rate.
As Karia pointed out, your correspondence needs to shout the answer to "What's in it for me" in unmistakable graphics.
I use all three techniques, call, mail and door knocking. All three are tied to the same VBM. When they answer or open the door, they actually anticipated I would be showing up. My stuff is highly localized. I don't think you can use it but I will send. Send me your email but do not use the Trulia link.
Annette Lawrence
Broker/Associate
ReMax Realtec Group
Palm Harbor, Fl
727. 420. 4041... more
Funny,
"I only want to get it because I plan to buy a few homes in this year and when i sell them....."
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To achieve the greatest benefit from the goal you stated in the first sentence, you certainly don't and in many cases will find it detrimental to hold an active real estate license. One of many reasons is the broker for whom you MUST work can dictate how you structure and manage your business in addition to grabbing a portion of your income. There are a plethora of options that are highly profitable that you should seriously consider. The choice you are about to make will determine whether you are working for profits or tips.
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The real estate market in NY certainly will be different than that found in FL. But, year after year, I meet NYers who hit the big time starting at exactly the same point you find yourself now. Repeatedly they repeat, 'Working for profits is a better plan."
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There is no secret regarding how real estate changes hands. There are more than 20 ways to sell a home, most real estate professionals are able or allowed to do 3. There are over 15 ways to finance a home, most real estate professional are able or allowed only 2.
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Finally, the training new agents receive results in a 95% failure rate within the first two years. Clearly their exists a major problem in the conventional manner in which folks enter the real estate professional. Do you want to spend the next five years realizing most agents spend 85% of their time marketing, while independents, like you may become, spend 85% of their time creating profit. The choice is yours.
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Now, their are GREAT reasons to become a real estate professional. One of those is it allows you to represent people other than yourself, such as other buyers and sellers and receive compensation. That, however, was not in your mission statement.
Best of success to you.
Annette Lawrence
Broker/associate
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041... more
Well-established Boutique Real Estate Firm specializing in all areas of Commercial, Residential and Management is looking for Real Estate Agents in New York City. Firm offers access to top technology, extensive client advertising databases and team members. Experienced or Non-experienced. Will train. GENEROUS COMMISSION SPLITS.... more
Usually yes, this year not so. Due to many concessions over the past few years (free month rent) leases are ending in the later part of the year and as thus, a new feeding frenzy has occurred.... more
As far as earnest money deposits, it's optional in Queens and Long Island. Not many brokers have escrow accounts, thus they opt to not take any earnest money. Usually you give 10% of the purchase price once you sign the contract, or if it's an FHA or VA loan you would give the either 3 1/2% or whatever is required on the VA loan. In respect to home inspections the biggest concerns are Structural, electrical, plumbing, roof and exterior. Those are the biggest concerns when doing a home inspection and that is what they look for in addition there is also a termite inspection required by most lenders. As far as appliances a stove and refrigerator are almost always included in the sale. Speak to your agent, as they have to go by what Is on the MLS sheet which is the basis for what's included in the contract i.e. appliances, draperies, curtains et cetera. As far as time from contract to close for a house it's 45 to 60 days in New York and co-ops are approximately 90 days, as you have to factor in for the board approval
Hope this helps!
Marco Gomez
New York state associate broker
Keller Williams landmark to
Marco.Gomez@Gmail.com
Serving Queens, Brooklyn & Nassau... more
I'm afraid that is not a question I can answer in this forum either. However, I can tell you that the company I am with is great!
When determining this answer, I believe you need to actually interview with different companies and perhaps even different locations within those companies. I believe that there is no set standard and that it is based on an individual basis and how you are performing. Meeting face to face with the broker and discussing the details is the best approach.... more
Jolie, I am your "go to" guy in Westchester for real estate and Apples! :o)
Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
914.406.9023... more
Annette pretty much covered it all. My Sellers dictate "if" I do Open Houses. Find that realistically they(Open Houses) are good to obtain potential Buyers but feel that at that time I do work for the Seller 100%. Becomes a tough balance for me and not my favorite thing to do on a Sunday afternoon.... more
Hi Joe,
I actually went the other way from what Steven (below) did. We used to use OLR, and switched to RealPlus, because it is more cost effective. Steven is right, both systems are years behind the competition outside of Manhattan. That being said if you are looking for cost for what you get my opinion is that RealPlus is better. Again you can see that Steven and I disagree, but that we are both waiting for a better choice to enter the market. I hope this helps.
JOE GREENE
Broker/Owner
WEICHERT,REALTORS - House & Home
609 Kappock Street
Suite 1A
Bronx, NY 10463
(718) 432-5000 (Office)
(718) 432-2091 (Fax)
(917) 974-2600 (Cell)
joegreene@weichert.com... more
Hi Tanya. I would have to agree with Mitchell Hall in the thought to hire a New York broker. Take the referral fee but use a broker in the city. The exposure you'll get will bring plenty of interest and your ability to show may be limited. It makes good sense.... more