Independent Contractor Status
The vast majority of independent real estate agents are statutory independent contractors. This is a statutory status rather than common-law. The right of control and the 20 tests of the Internal Revenue Service to determine if one is an employee or independent contractor do not apply.
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Financial & Marketing Mgmt
Real estate property management includes the responsibility off from marketing and financial functions. A comprehensive budget, marketing plan, and efficient implementation of them are a must. More information on the financial and marketing components of property management.
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Abstract of Title
An abstract of title in real estate is a written history of all the recorded documents and proceedings relating to a specific property.
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Investor Mortgage Loan - Fixed
The 30 year fixed rate investor mortgage loan is generally considered to be the standard offering, and for many years this was the only type of mortgage available for investors. The investor secures a loan at a fixed rate which remains unchanged over the life of the loan. The loan is fully amortizing, meaning that at the end of the term the loan will be completely paid off.
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The Funnel Approach to Income
For the spreadsheet to determine your average per-transaction commission income, you enter the average transaction percentage, your split percentage and the average sale dollar amount for a transaction.
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Land Use and Zoning Codes
Communities need control of how land is used, and the type and use of structures constructed in their area. This is done with zoning codes and zoning permits. The purposes for which land can be used, as well as the type and look of structures are controlled this way.
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Investor Mortgage Loans
The type of investor mortgage loan that you select as a real estate investor is a key factor in determining your level of risk and the cashflow that your investment will generate. Here are some things that you should consider. Options include fixed rate, arm adjustable rate, zero down, balloon, exotic and low documentation loans.
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Real Estate Investing Analysis
Rate of return is a measure of profitability; it measures the cash that a project will generate vs. the cash that you have to put into the project.
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Loan to Value (LTV) Ratio
The amount of the outstanding mortgage divided by the property's value is the LTV or loan to value ratio. The value is normally either the appraised value or the selling price, whichever is less. This is used in regular owner occupied mortages as well as properties purchased as real estate investments.
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Real Estate Career For You?
Benefits and pitfalls of a career as a real estate agent include things related to income, liability, control of your business and your personal skill set.
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Bundle of Legal Rights
The bundle of rights that the owner of real property has are those legal rights of ownership including, enjoyment, exclusion, disposition, possession and control.
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Fiduciary Duties - Real Estate
Real estate agency law says that a real estate agent who takes on the capacity of "agent" for her client then takes on the duties developed over many years in common law. These include Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable Care.
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Townhouse
A townhouse is one of a row of homes sharing common walls. Differing from condominiums, townhouse ownership does include individual ownership of the land.
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Gross Commercial Lease
The commercial gross lease is sometimes also called a full service lease. The landlord generally agrees to pay all expenses in this type of lease, including taxes, insurance and maintenance.
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Outlook Rule for Email to SMS
Create the rule to tell Outlook which messages you want to have automatically sent to your cell phone as sms text messages. This could be several rules, possibly for clients or with certain words in the subject or body of the email.
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Meet Experienced Agents
So you've got your license and you're settling into your new office space. You need to make sure that you meet the experienced agents and listen more than you talk. Whether they're bragging or complaining, things that might help you slip out in conversations.
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Compensation in Real Estate
When a brokerage is a franchise affiliate, they frequently must pay a percentage of each commission to the franchise headquarters. This comes off the commission before any other splits.
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Modified Net Lease
The modified net lease is so-named because it is a modified version of the triple net lease. Rather than paying all expenses, the tenant may pay taxes and insurance but share maintenance expenses with the landlord.
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Real Estate Flood Cert
In most real estate deals involving a lender, the lender has their own source for getting a flood certification on a property before making the loan. A third party provider produces a report certifying the flood zone status of the property based on the most current FEMA flood maps. If your client is doing a cash deal, you might want to get them to do their own flood cert, or you can get it for them inexpensively.
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USDA Rural Home Loans
If you practice real estate in a rural area, take a look at the USDA program that can get your buyer into a home with no down payment, and sometimes even no money out of pocket.
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Commercial Real Estate Start
A common question is whether a person new to real estate should start out as a commercial real estate agent, or work into it from residential or another area of real estate. The decision requires an assessment of finances and abilities. A different skill set is required, and the first commission can be a long way in the future.
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Cap Rate Calcs for Clients
Capitalization rate is a common method used in the process of arriving at the value of an income property, such as rental units, commercial rental space, etc. Learn the calculations you'll need as a real estate agent to work with your investor clients.
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Converting Expired Listings
Many an agent has built their new career on contacting expired listings and impressing them with their ability to do better than the last real estate agent or broker. The consultive approach, with straight-forward information and a formula to help you introduce hard facts about property condition and pricing is presented in this hard-hitting flyer.
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C.L.U.E. Report in Real Estate
C.L.U.E. (Comprehensive Loss Underwriting Exchange) Reports give the insurance claim and loss history for a residential property. Insurers regularly report property losses to a company that compiles the C.L.U.E. Report to a homeowner. Only the homeowner or a prospective insurer can order it.
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Staging Homes for Sale
Home staging is the process of preparing a home to show in its very best light. This is beyond cleaning. Clutter and personal items are removed, furniture is re-positioned, and items might even be added from rental sources. Learn the basics of staging homes here.
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