June 18, 2006
Real Estate Investing Tips
Real Estate — Keep Your Cash For A Rainy Day
Buying property is expensive under the best conditions. Even if you don't outlay a huge wad of cash initially, you're signing up for a substantial financial commitment. For those intending to occupy the property, at least for a while, there are additional expenses — moving, storage possibly, and often tax consequences.
So the first step after agreeing on a deal is to get favorable financing. Bzzz! Wrong answer. Get favorable financing BEFORE you agree on a price and decide who pays for what. Assuming you intend to finance, and if you aren't you don't need to read this, shop around for lenders.
Banks, mortgage companies, on-line financiers, and others all compete for your business. Make them earn it by looking for the lowest rate you can obtain for your credit rating. Negotiate fees required and the dozens of charges that lenders tack onto the loan — sometimes before even agreeing to fund it. Don't pay the lender a large 'application fee', unless you have seriously bad credit and have no other option.
Repeat the process with everyone else involved in the deal. Title companies often have high fees, but you're not required to use the one an agent or the lender recommend. You're free to use whomever you wish. Watch out for 'rush delivery charges' - often $50 or more to have a package of a dozen papers sent across town — and similar fees. You're not required to give anyone free rein when they're spending your money.
Do the same thing with whomever the lender and title company recommend for insurance. You're not required to use the one they like, but they will usually try to bully you into accepting it because they're busy and it's easier for them. Remember, though, you are paying them. They're looking out for their interests — you have the right to do the same.
When you talk to the lender, ask what options are available with your credit rating. You can often obtain 5% down, and sometimes even no-down, loans — but beware of the high interest rate that sometimes accompanies them.
Other financing options can be found by those willing to wait and to shop around. Some sellers and lenders will allow you to assume an existing loan. It's also possible to negotiate a deal in which the seller agrees to pay a larger percentage of the closing costs. In rare cases, they will pay all the closing costs, but usually by rolling it into your loan.
The last few years have been largely a seller's market, so this has been less common. But the situation is changing. Even in a seller's market, though, not everyone is in a position to be rigid. New employment opportunities, layoffs, unexpected expenses, a death in the family, and a dozen other reasons can give a seller a big incentive to move quickly. That translates to a willingness to negotiate a fast deal for the best price they can get.
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It's your money. Keep as much of it as you can by shopping around and not letting anyone rush you into taking a bad deal.
Posted by RealEstate at 07:41 AM | Comments (0)
June 17, 2006
Real Estate Timing - Buying and Selling
Buying and selling real estate is similar to timing other investments — stocks, bonds, mutual funds. But there are two important differences.
Most investments can be bought or sold within minutes at the market price. Buying or selling real estate takes months. That difference introduces interesting wrinkles in timing when to buy or sell. Like other investments, selling at a high point, with the intention of buying back in at a lower price, is one way to make a profit. Here again, the difference in time required to complete a transaction makes life more interesting.
It's usually easy to sell a stock, wait a day or a month and buy that same stock at a lower price. When that stock continues to rise, there are often others that have declined but can now be predicted to rise again. The real estate market rarely offers those kinds of opportunities.
The other difference is that companies differ but most stocks are alike. Real property is always unique.
Selling requires one to either acquire a new residence, wait for a new opportunity to enter view, or buy back in at a higher price, hoping for yet greater increases. Along the way the costs of getting in and out are substantially higher than a few dollars for a stock trade.
So, what to do?
One clue is provided by the historical fact that many have and continue to make good money in real estate — even though the market has gone through several cycles over the last few decades. That last piece of information gives another clue — think long term.
There are several strategies for improving your timing options. One is to acquire property at bargain prices, either through seeking out foreclosures, or looking at property requiring substantial repair.
If you have patience, it's possible to find foreclosures that sell for anywhere from 25% to 35% under current market for that area. Read local newspapers and websites for Notice of Default listings and upcoming auctions.
It's also possible to find areas where sellers tend to be leaving, but there is some likelihood of a turnaround. The latter is possible — previously depressed neighborhoods in Manhattan, such as the Lower East Side, now sell at a premium. Areas in other major urban centers have experienced similar turnarounds. Again, you will need to research and think long term. Look for political activity of urban renewal efforts.
If you're good with tools or know someone who works inexpensively it's possible to acquire property needing substantial repair. Fixing a leaking roof, and repairing water damage through installing new drywall and painting, can increase the sale price of a home by 10% or more.
One key to making any of these strategies, and many others, feasible is to have as much working capital available as possible. That doesn't necessarily mean having a huge savings account. You need to be liquid and have access to money, not necessarily in your own account. Keep liquid, keep your credit rating high, and establish a good working relationship with a lender in order to have rapid access to financing.
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Opportunities for profit, even in a market that's leveling off from historically high rates of increase, are still around. But only for those who are willing to exercise patience, do tons of research, and have the ability to walk away from any deal when illusions meet reality.
Posted by RealEstate at 05:38 PM | Comments (0)
June 15, 2006
Real Estate — Getting Started
Real Estate — Getting Started: Think First
It's often been claimed that Real Estate investing is one of the easiest ways to make money. In one way, that's true. With a modest financial investment and a fair amount of sweat equity, a property can be bought and sold for a healthy profit and the future still looks pretty good.
But easier is not the same thing as easy.
So, to simplify the process, here are some things to consider when getting started.
Before investing money, invest some time. Think about what financial goals you want to achieve and over what time frame. Be realistic. Easy to say, hard to do — especially when home prices have been rising for several years and still are. But like any market, real estate values may go down, and when they do it's usually a sharp, steep drop.
Once you've decided how much of a time and money commitment you want to make, write it down. Make a one year to five year business plan in as much detail as you can, and then review it after six months and again after two years.
Part of that plan should be an estimate of how much capital you've got to invest, which will differ depending on whether or not you plan to use your primary residence as your first investment. Just as one example, if you have less than $10,000 to start with you are definitely looking at either using your own home or buying a 'fixer-upper' as your first venture.
It's true you can get into a secondary property with no money down and just a couple of thousand in closing costs if you have good credit. But the market would then have to rise quickly, and you would have to sell right away.
That's risky and has serious tax and legal consequences. The alternative would be to take on high monthly payments and maybe additional expenditures on repairs. Again, risky and potentially expensive. You stand a high chance to lose more than your initial investment, because even though you only put in a small amount, you're still legally bound for the entire package.
Unwise move for the newbie.
Another part of that plan should state how much risk you're willing to take. Be especially honest and consider your personality type. Some investors favor capital preservation, others lean toward maximum return in the shortest time. People differ in their tolerance for risk. Be sure you know yours.
You'll need to consider your available time commitment, establish a relationship with a lender, learn about the market, contracts, insurance, legal rights and requirements, tax consequences, and many other aspects of real estate investing.
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If you still want to take the plunge — bravo! You can make a healthy additional income, or even a full time living, in what remains one of the soundest investments available. And, apart from what can be serious money — it's a great adventure!
Posted by RealEstate at 04:19 AM | Comments (0)
June 11, 2006
Before You Invest In Real Estate...
Real Estate — Questions To Ask Before Investing
Real Estate is a complicated business. Every facet is controlled, in most countries, by numerous legal restrictions and requirements and there are many people involved in any deal, some with vested and competing interests. But you can also make a lot of money and, in some ways, a lot easier than in many other businesses.
Before you take the plunge, ask yourself — and try to answer — some of the following questions.
1.How much capital do you have?
2.What's your tolerance for risk?
Capital and risk are inseparable partners. A person with five million in the bank can absorb a risk of five hundred thousand without serious, though maybe painful, consequences. Someone who is putting up their hard earned five thousand, hoping to turn it into fifty, is in a different situation. I'm not suggesting the one with five should stay home and watch television. Taking risks is admirable and exciting. But you should estimate realistically how much actual money you can put into an investment. The mirror half of that is to be honest with yourself and think about how much risk you can live with emotionally. Some people are natural adventurers, others prefer a cautious approach.
3. What are your long-term financial goals?
Some individuals are interested in capital preservation, others want maximum return in the shortest period. Each carries a level of risk, and also an implied time commitment. Each demands a particular level of investment of time and money. If you're looking for a ten percent profit on your investment in a matter of weeks, real estate isn't for you. If you're after high percentage gains, that's possible but risky and usually requires a year or more commitment. During that year, your investment is not liquid apart from the ability to borrow against it. Along with having your funds tied up for other potential uses, property values can change dramatically in a short time frame. The last few years have been steadily up in most areas, but with changes in interest rates, that can (and probably will) change.
4.What kind of person are you?
Real estate investment, unless you just enjoy losing money and enduring stress, requires a tolerance for risk, a commitment of time and effort, and an interest in details — especially legal details. Beyond all that, the more basic requirement is an interest and aptitude for learning. Market study, advertising, contracts, construction, property law, even a fair amount of psychology, all form a part of real estate investing. You don't have to become an expert in these, and other, areas before making a move. But if you don't enjoy learning about these and the host of other subjects that are part of the business — well, come on in because the sharks love fresh meat.
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If you still haven't been scared away — bravo! You stand to make a lot of money in one of the oldest businesses and biggest adventures still around in the modern world.
Posted by RealEstate at 05:29 PM | Comments (0)
June 10, 2006
Slow To Sell Real Estate
Real Estate — When It Doesn't Sell Fast Enough
In a market that has seen double-digit price increases for two years or more, selling a home was easy. Offer the property for sale at or slightly above market value and watch the bids roll in — sometimes within days.
Even in a tightening property market, a seller has options. If the property is also a primary residence and there's no pressing need to move, one can just sit tight and wait for the next upswing. You may have to wait one year or five, but come they always do.
Whether you're waiting three months or three years, there are several viable strategies for upping the odds of getting acceptable offers.
Almost any property can be improved, usually at modest cost — sometimes with sweat equity alone. Get out your tools, or find a low cost contractor and fix those broken roof tiles. Even if the damage doesn't affect the integrity of the roof, the improvement in appearance is worth it.
Replace those worn throw rugs near entrances to give the house a new look. Paint that room that's seen wear or too much smoke tarnishing. Get the carpet professionally cleaned and keep the inside and out looking immaculate. Buyers always pay more when a property owner shows they've maintained it well.
Other low cost, but profit enhancing, items include inexpensive lawn repairs and a few dozen garden plants and flowers. Remember, the outside of the property is always what visitors see first.
Once you've made everything look and function as well as possible within your modest budget, encourage the neighbors to do the same. Most properties are near others. The appearance of a neighborhood — children's toys in the front lawn, tired looking screens, shaggy hedges, etc — reflect on your property too. Whether future homeowner or investor looking to sell to one, others will be interested in the effects on the property you're offering.
Now that everything possible has been done to make the property and it's surroundings optimal, check to ensure the price is reasonable. Market prices change fast, but they also vary considerably within a local area. A 1,500 square foot one-story dwelling is generally going to go for less than a 2,000 square foot two-story.
Prices vary by total square footage of property, year built, and other factors. Look on-line for comparable properties to get an estimate, then speak to a professional to get "the comps" — the estimate by appraisers and others of the actual prices of comparable properties.
Does the property back up onto a noisy thoroughfare? Consider double-paned windows so visitors inside the house hear nothing but the soft music you play while they're looking.
Has the property been on the market for several months, but not sold? Take it off for awhile, then re-check the price before re-listing. Most people don't want something that others have rejected, even if they can't find anything specifically wrong.
Have you spread the word far and wide? Market heavily to the local area, but spread the word on-line and in other cities that you have an attractive and well-maintained property. People re-locate and it's still the case that advertising to outsiders is less effective than to those who can visit with a short drive or train ride. Use new technology to give you an edge.
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Be the one to make that extra effort and you'll get a fair price.
Posted by RealEstate at 05:18 PM | Comments (0)
June 08, 2006
Your First Investment Property
Real Estate — Your First Time
Buying a property for the first time, whether as a home or purely an investment, is exciting and risky — and one because of the other. You read or hear about rapidly rising prices and think 'I gotta get me some of that!' Excellent idea — if you keep in mind, too, that there are risks. Here are some suggestions about how to keep the excitement, profit from the opportunity, and minimize the risks.
Familiarize yourself with the market you're interested in and find out what the average property is going for. It can vary considerably even within a single housing tract. That information is easily gained by talking with local Realtors or looking on the Internet.
Study a little bit about legal restrictions and requirements, about contracts, escrow, titles, insurance, closing procedure, and the roles different individuals play in the process. Each has a cost. Shop around.
Once you're ready to take the plunge the next step is to find a potentially profitable property. The Internet makes that a lot easier these days, but you need to drive around the area, too. Look for 'For Sale By Owner' signs and scour the local newspapers for 'For Rent', abandoned properties, etc. And talk with friends, family, and local Realtors.
Look at properties nearby. Are they maintained in a way that will not depress the selling value of your property? Even if you buy a 'fixer-upper', and turn it into a castle, it can be tough to sell profitably in a deteriorated neighborhood.
Once you've found that diamond in the rough, unless you've won the lottery or invested well in the stock market, you'll need to finance the purchase. Bzzz! Mistake number one. You should have your financing in place BEFORE you find a property.
Talk to mortgage lenders — banks, mortgage lending companies, Internet home loan businesses. Discuss how much you want to invest and answer their questions about income, etc. They'll examine your credit history, so make sure your report is clean of any outstanding negative marks.
Ask them about financing options. Today there are a dozen different ways to fund a real estate investment, with variations in rates, up front funds required, and tax consequences. You're about to put out a chunk of money, but also to take on a substantial liability. Be prepared.
Got that dream deal and ready to buy? Perfect. Negotiate the best price you can, without expecting to get something for nothing. The seller wants to get as much as possible, and you want to pay as little as possible.
Out of that tension can come two satisfied parties, or two individuals who both lost. Be firm, but prepare to compromise. You want the seller to repair that bad water heater prior to closing, the seller wants you to give them an extra two weeks before having to move. Give a little, get a little. The alternative is usually a lot of expensive and life-draining legal action. Strike a mutually beneficial arrangement and you'll save money and stress.
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Enjoy your first time. It's an adventure!
Posted by RealEstate at 12:03 PM | Comments (0)
June 06, 2006
Real Estate Investment Strategies
According to one study 23 percent of all homes sold in 2004 were purchased as investments. Considering the historical returns, and the high percentage increase in prices over the last few years, this shouldn't be surprising. But there are several ways to profit from an investment in property.
Remember that property values have risen in most markets for several years. But with interest rates increasing no one can predict how much higher they'll go nor for how much longer. No gain without risk!
Apart from gains from a tax write off and appreciation, some costs can be offset by renting the property. But, consider the amount of time and cash you have to find tenants, manage the property, and pay for or perform repairs.
Foreclosures are another investment avenue, but also not without risk and often requiring substantial cash outlay. A foreclosure occurs when a property owner is no longer able to make payments on a mortgage, usually over a period of several months. But seldom are foreclosed properties all gain and no pain.
Foreclosed properties tend to be in need of repair — someone about to lose their home isn't usually incented to maintain it in pristine condition. Be prepared to spend time and effort bringing the home back to salable condition, if you have the skills, or laying out cash, time, and effort to find a reliable contractor.
Similar considerations apply to investing in abandoned property, with some possible additional legal hoops to jump through. Foreclosed properties usually have clear title. The lender (a bank, mortgage company, or other financier) reclaims title as a part of the foreclosure process. In the case of abandoned properties, it may not be clear who has title. Factor in the additional time and cost for title searches and possible legal action.
For those who want to take advantage of profit opportunities in real estate, but without actually laying out cash, signing dozens of documents, or worrying about the physical property, there are purely paper investments. As a result of computerization and the explosive expansion of investment options in the 1980s, several types of 'monetization' of real estate came into existence.
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REITs (Real Estate Investment Trusts) are one type. There are others — mortgage backed securities, property bonds, trusts, mutual funds, and stocks oriented specifically toward real estate. Before investing in any of these 'non-property' options, talk to a broker.
Posted by RealEstate at 09:52 PM | Comments (0)
June 05, 2006
Real Estate Investing and Your Portfolio
Since the exponential expansion of products in the 1980s, investments now come in a bewildering variety. Sorting through the technical details and balancing the risks against potential gain of any given mix is a job for professionals. But short of gaining an advanced degree, the educated investor can still improve the odds by following some simple guidelines.
Direct commodity investing is usually safe only for the savvy investor who has time to closely monitor the market. Whether gold, oil, or other hard good, the commodities market forms the most volatile and risky ventures. Options, commodity oriented mutual funds and other indirect investments are less risky, but still far from wise for the average person.
For those who want to include 'paper' in a well-rounded investment scheme, real estate offers several opportunities. REITs (Real Estate Investment Trusts), options, property oriented mutual funds, and other mortgage backed securities are available in a dizzying array.
REITs are entities that invest in real estate related assets, such as shopping centers, office buildings, hotels, and mortgages secured by real estate. REITs fall into one of three categories. Equity REITs, which invest in or own real estate and make money for investors from the rents they collect. Mortgage REITs which lend money to owners and developers or invest in financial instruments secured by mortgages on real estate and Hybrid REITs which are a combination of the two. To qualify, a company has to pay 90% of its taxable income to shareholders every year and invest at least 75% of its assets in real estate and generate 75% or more of its gross income from investments in or mortgages on real property.
Options are an alternative form of offer. A potential buyer offers a sum, 'an option consideration', in order to effectively take a property off the market for a period of time. Option offers generally run anywhere from a few hundred to a few thousand dollars, but higher or lower amounts are possible. Some options bind one party only, some are called 'bilateral', requiring each to adhere to contractually specified conditions. Conditions involve contingencies around inspections, financing, and always have a time limit.
Every deal is a little different and, of course, if the option isn't exercised by the specified time limit, the optionee — the potential buyer — forfeits the money. Risky, but potentially rewarding, since you've effectively eliminated alternative bidders. One advantage to the optioner is the time to find a buyer for the property itself, then selling the option. This eliminates the need to pay for transactions costs, keeps debt low, etc. Do your homework, first.
To fill out the other part of your portfolio, nothing beats the 'real' in real estate. Historically, buying and selling real property, or even long-term owning, has proven one of the most profitable, least risky investments available. Observe carefully the words 'least risky'. That doesn't mean 'zero risk' — there's no such thing in investing. Prices can always go up or down, relative to other goods and investment channels.
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Be willing to get educated about the market and the law. Make purchases while minimizing costs like agent fees, repairs, interest rates, etc. Have sufficient cash and other liquid assets to be able to hold until the time to sell is right. Follow these guidelines and you'll never have any reason to regret making real estate investing a major portion of your portfolio.
Posted by RealEstate at 01:50 AM | Comments (0)
June 01, 2006
Real Estate — Finding and Evaluating Property
Today, investing in Real Estate is easier and more profitable than ever. But even in a healthy market, with new tools to find and evaluate potentially profitable properties, you can lose a lot of money in a short time. To maximize the odds of winning, consider these tips...
Visit Realtor or estate agent businesses. If you can afford it, you can obtain an MLS, a multiple listing service, and get the same information they get. In some locations, a license is required, even if you have the cash.
Even if you use the web to find a great value, be prepared to do some 'leg work'. The only way to judge properly is to visit the property and the surrounding area. Is the neighborhood maintained in a way that won't depress the selling price? While you're driving around, look for FSBO signs, For Rent signs, and talk to some of the neighbors.
The person next door, might know something about that yard that turns into a swamp after a few days of rain. Be prepared to make more than one visit, in different kinds of weather and at different times of day, if possible. Property, land and houses, look and act different in the cool of the night than they do in the heat of the day.
And the best way to check for a leaky roof is to go when it's raining — exactly the weather you don't enjoy evaluating property in. Neither will your competitor for that property. Going that one step further puts you ahead in the race. Information is power.
After the informal inspection, you can strike a contingent deal. 'Contingent', here, means dependent on a satisfactory professional inspection. Find someone experienced and reliable, even if you have to pay a little more. The price will be repaid many times over, especially if you use them regularly in the future.
Learn the craft yourself if you have time and interest, but at minimum learn at least enough to keep the inspector honest. Most are, anyway.
Review the report carefully. It's not required that everything is 100%, but every major and minor flaw should be recorded. Leaky plumbing or roofs, stained carpets, damaged walls or floors, inoperative air conditioning or heating systems, etc. Look especially for any standing water in basements, near foundations, etc.
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Everything is negotiable, so there's no rule about who pays for repairs, if anybody. But information is power. Still, be realistic. Very few properties, even newly constructed ones, are perfect. If they are they're expensive enough to eliminate your profit, unless you plan to keep the investment for an extended period.
Happy hunting!
Posted by RealEstate at 11:31 AM | Comments (0)
May 30, 2006
Real Estate Investing : Urban Or Rural?
As population shifts occur throughout the world many are finding it possible and desirable to move from urban areas to rural, mountain, and even island locales. In that fact lies a new opportunity for investment.
But before rushing off to plunk down a few thousand or a few million to cash in on the trend, consider some of the differences entailed in non-urban investments.
Rural, mountain and island areas have much more concern for and pay more attention to environmental issues. Even though in many areas or countries regulations are more relaxed, the local citizens tend to take more personal responsibility for ensuring clean water, adherence to fishing and hunting regulations, proper recreational vehicle use, etc. So, when it comes time to sell a property, potential buyers are going to be looking more closely in some cases.
In some areas population is growing due to influx of retirees, increasing use of the Internet to run home based businesses and other factors. In others, populations are declining. Research is essential to try to predict whether that great deal today will be profitable in three to five years.
Also, as non-urban demographics fluctuate it can require greater advertising over a wider area and take longer to build a pool of qualified buyers. Smaller populations means fewer buyers locally, but you can compensate by using the Internet to advertise to a larger area and attract those that are looking to relocate or purchase a second residence.
It can also take longer to find desirable properties to buy at potentially profitable prices. In areas where property values are rising rapidly, high demand snaps up good properties quickly. That leaves only those that are more difficult to evaluate as investments.
And non-urban properties are inherently more difficult to evaluate, since they're often unique. Most tract homes and small commercial properties are very similar across the U.S. and other developed countries. Developers keep costs low by reusing the same plan and building on similar, small plots. But farms, ranches, mountain homes, lake homes, island property, etc are all different not only from one region to the next, but within the same locale. A villa in the south of France is very different from a vineyard only a few kilometers away. A large mountain cabin on a lake is very unlike a horse property a mile down the road.
Comps for such properties can only be guessed at and lenders know this, making financing more difficult. Most non-urban financiers have learned to take such factors into account, but they often require more solid credit and larger down payments as a result.
And if you plan to buy, fix-up and sell you need to take into account the potentially greater difficulty of finding qualified, reliable contractors and labor. Labor prices in such markets may surprise you — it's not the case that lower average wages in such areas translates to cheaper help. Such specialized skills often command a greater price and involve longer time frames for getting work completed.
Just to make things more complicated, there are different regulations for rural areas, and they vary of course from country to country. Tax issues need to be factored in along with exchange rates and other Government considerations.
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But despite all the potential hurdles, property values continue to rise as a consequence of urban flight — going on now for decades — along with increasing technology enabling new forms of business and employment in non-urban areas. Now's a good time to start looking.
Posted by RealEstate at 05:57 PM | Comments (0)
May 26, 2006
Real Estate Career?
Real Estate — Tough Career Choice
Set your own hours, spend a lot of time outdoors, make lots of money. Sound good? With a career in Real Estate it is possible to have those things. But free lunches are hard to come by and this is no exception. Being a Real Estate Broker or Agent is a tough career choice.
Part businessperson, part psychologist, part friend and always far too busy, an agent participates in every phase of a transaction. He or she needs to know the local and larger market, have at hand an encyclopedic knowledge of related law and oversee dozens of details on several simultaneous deals. And all this while sometimes working from early morning until late at night, any day of the week.
Sales, of course, is central to any successful agent's career. The ability to initiate, negotiate and close a deal that's acceptable and fair to all parties is a skill with many facets. Enthusiasm and the desire and ability to work with people is a paramount.
But a sale starts before a property is listed and doesn't end when the agreement is reached. Before properties are listed they're discovered, appraised and compared. When agreement is reached, a new phase begins involving escrow accounts, title companies, insurance requirements, inspections and a host of other complex undertakings. In between, properties have to be prepared for sale and advertised and potential clients sought and brought for showings. And you thought brain surgery was complicated!
Since real estate transactions usually involve large sums, individuals involved can and often do get very upset when things don't go exactly as planned. And things rarely go exactly as planned when so many things have to happen just right, many of which are interdependent. Keeping everyone satisfied, or mollifying them when they can't be, and moving the process forward requires a very special set of skills.
There are also definite slow sales periods, sometimes a particular month, sometimes longer, where there may be lots of activity and a hundred things to do but few sales to show for the effort. This is especially true given the continuing amount of fierce competition from the large number of agents in the same geographical area. In 2004 in the U.S., brokers and agents numbered about 460,000, many of whom worked only part-time.
And all for a commission of a few percent. Although the potential for a high income is definitely present, particularly in the healthy market of the last few years, many agents make much less than many think. In the U.S. the middle 50 percent earned between $23,500 and $58,110 per year.
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But on the upside, and there assuredly is one, there are those attractive features mentioned at the outset. For the entrepreneurial type, the freedom to set one's hours, to take risks and reap rewards consequent with one's own efforts and the varied locations and kinds of activity can be extremely gratifying. And sometimes the money isn't bad, either.
Posted by RealEstate at 12:20 AM | Comments (0)
