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FAQ

Where would you go to college if you were going to be a Real Estate Agent?!

Hogan okorder /...

I want to learn to art of real estate investing with no money down.

Sorry, we're real estate investors but never got into the no money down market. We've bought properties for a few thousand dollars down. We've also bought properties and rebuilt or refurbished. We've also bought properties without credit checks. Some properties can end up making you a nice chunk of change, even if you invest money in them.

Is is best to have some sort of college degree when getting into real estate (especially when going for a broker's license)??

I agree with the first poster, other then I think 25K is way high. The national average is less then 10K. The most important thing in Real Estate is sales. I use to teach a training class and we used an example. I take the top mortgage, real estate agent, car sales person and air conditioner sales. We switch their jobs. Doesnt matter. Put any in any position they will still be at the top. Nobody will check your degree. I started my first mortgage company when I was 22. At the time I was 23 I had 65 employees. A degree didnt mean a damn thing. I wish the best for you and your future, but in sales nobody checks your degree, they check what you can put on the board. To give you an example when I hired people to do mortgages for a top bank or sell real estate. I didnt go to colleges. I went to those idiots that sell perfume in a parking lot. Those people can sell. If they are willing to do that to make a buck, I can teach them how to do real estate or mortgages. Teaching sales is another thing. Good luck and email me if you have any questions.

can you withdrawl a real estate contract prior to closing in North Carolina without penalty?

Hi. Are you working with a Realtor? If you are, then you should let your Realtor know that you need to withdraw. Have you signed off on the home inspection yet? If you haven't, then you have your out without penalty. (Of course, you need to find something wrong!) If you have signed off on the home inspection, have you gone thru the appraisal from the bank yet? In some cases, if a home appraises for less than purchase price, and even with a 20 percent down payment, banks will not finance an over-priced home. Truly, your best bet is to let your Realtor know that you need to withdraw and see if your Realtor can help. If not, pay an attorney who specializes in real estate law, his/her hourly rate, and have the attorney go over the contract and advise you as to how to proceed. Good Luck!

My pal Sally is thinking of buying a home. There is a home she likes but she does not know if she can afford the house. Today she is meeting with a real estate broker where she will discuss financing and lending for loans for the house she wants to buy. I do no think she should take their word alone that she should also talk to to a lender as well and that it should be an independent lender not one that they suggest. The Broker claims that she has over 30 years of knowledge in helping people with loans and lending issues. My point to my friend was that just because she claims to have 30 years of knowledge does not me she actually knows what she is talking about when it come to leanding and loans issues. Also the broker she is meeting with and the house she likes are two diffrent comapanies .Am I being worried for nothing ?

yes you are worried about nothing. This realtor is trying to help. If she is honest then let her recommend a loan broker. 30 years of experience is better than your friend picking name out of yellow pages.

Im homeschooled and really want to be a real estate agent but it says that one of the requirements is to have a high school diploma. Would I have to go to college to get it or would it be different because Im homeschooled?

If your homeschool isn't accredited and isn't issuing you a diploma, you are wasting your time. You need to get involved in a different program, or maybe a cyberschool that will issue a diploma, or your highschool years are wasted, and you would then need to get your GED before starting college or to get into the real estate world.

steps on how to become a real estate agent as of now im in high school, about to graduateall info would help thanks

To become a successful Real Estate agent, you need not just focus on completing your studies cleaning tests. If you don’t plan well beforehand, you will fail miserably in the game of real estate. When beginning with the domain of real estate, you need to have a backup plan. Do a part-time job or save some amount of money as you might have to work without any commission for some time. You should be able to pay your bills, even if it requires you to work part-time as an agent. It might not have been your plan to work part-time, but you still should do so if you want to be successful Real Estate agent in the future. You might not have to go through all this, if your relative or family member is willing to buy property then you can survive for a long time without having to worry about income.

I bought a textbook recommended by intro survey real estate course, but it was much more than I thought, and I ended up returning it. I am not planning on becoming real estate agent, but I don't know basic terms such as mortgage, foreclosure, etc. I have absolutely no idea about home buying/selling process.

Take a class at your local Community College.