How do you find the right home in the right location?

Population 1,321,045	Median Age 30.7 yrs	Household Size: 2.79
Avg Home Value: $112,600	July High: 103.5°F	January Low: 41.3°F

 

Realty

Realty executives operate on 100 percent commission. This means that the realty executive will be anxious to please his clients for two reasons – to make commission and pay the bills, but better yet, happy clients will provide referrals, leading to more commissions.

What is a realty executive?

The concept of the realty executive position is based around a 100 percent commission office. Sales associates receive 100 percent of their commissions. Associates share equally in office expenses. The office is coordinated by a full time real estate broker, whose salary was paid by the sales associates. A realty executive is a real estate agent and has his or her state real estate license, but not all agents are realty executives.

The realty executive and education

A certain amount of classroom hours are necessary for real estate agents to receive their licenses. An esthetician is required to have 600 hours of training to become licensed in the state of California, which is 500 hours more than a real estate agent’s required certification hours. Most real estate agents take a pre-licensing course which teaches everything from how to interact with customers to the legal aspects of selling real estate. Real estate agents – and therefore realty executives also – are required to take continuing education classes until they retire.

How to choose among realty executives

The local housing market is booming, and there are an estimated 2.5 million licensed real estate agents in the nation. However, choosing among agents and realty executives can be time-consuming and confusing. Do research before seeking out a realty executive, so you can meet them on an even playing field and not be overwhelmed by the legal jargon and intricate process. The knowledge you’ll need includes the neighborhood type you want, the size and makeup of the house you need, financing, legal rights, and how to evaluate home prices.

• Don’t hire an agent you meet at an open house, find in the Yellow Pages, or discover on the Internet without thoroughly checking his or her credentials, experience and practice. • It’s a better idea to get recommendations from friends, family members, co-workers, and others you trust who have recently used that agent to buy or sell a home and had a satisfactory experience. • Once you’ve selected several agents you’re interested in, sit down with each one for an interview, get a resume or portfolio, and explain your needs and what you expect. Ask the agent to explain how he or she gets the job done. Ask how often the agent will report to you on sales and buying leads. Once a week is considered minimum in a stable market. • As you ask questions and discuss your needs, consider how the agent listens to your concerns and wishes. You should feel that the agent wants to make you happy more than he wants to collect a commission or meet a quota. • Ask to talk to past clients, both buyers and sellers, as references to see how happy they were with the transaction. • Ask about listings that have gone unsold. Ask why, but don’t blame the agent for homes that were overpriced and sellers who refused to reduce the price. • Once you select an agent, don’t double dip by also signing a second agent. Loyalty and time commitment is a two-way street. If your agent doesn’t have your full attention, this may be reciprocated.

A REALTOR® is a real estate professional who is a member of the National Association of REALTORS®