Buying House in USA..Should write Realtor Exam?

prasoum · Post by **prasoum** » Thu Mar 08, 2007 8:47 pm

Hi,
I have heard that to save money desi people take the realtor exam. Is it a good strategy...What you guys say. I am thinking of buying sometime and just started the process of learining about RE.
Any other suggestion will be appreciated...
Thanks

realentity · Post by **realentity** » Thu Mar 08, 2007 9:02 pm

The real estate market continues to sink in the US. Its better to stick to your current profession.

http://money.cnn.com/2007/02/15/real_estate/home_prices/index.htm?postversion=2007021518

prasoum · Post by **prasoum** » Thu Mar 08, 2007 11:25 pm

No plan of changing profession men! It is just for saving money i.e. instead of using a realtor why not do it myself and save cost...

FreeSpirit · Post by **FreeSpirit** » Thu Mar 08, 2007 11:34 pm

prasoum;11298Hi,
I have heard that to save money desi people take the realtor exam. Is it a good strategy...What you guys say. I am thinking of buying sometime and just started the process of learining about RE.
Any other suggestion will be appreciated...
Thanks[/quote]

This is a buyer's market. so you can look for properties yourself. Check MLS listings on realtor.com and also check Buy Owner type of listings.
Also when you made your selection, have the home inspection done.

LoveIndia · Post by **LoveIndia** » Thu Mar 08, 2007 11:39 pm

#1 - I am suggesting you to read an excellent book to know the basics of real estate by clicking:

http://www.amazon.com/How-Find-Home-Mortgage-Internet/dp/0471380725/ref=sr_1_1/104-1378147-4559931?ie=UTF8&s=books&qid=1173377314&sr=8-1

I think you might get in local public library.

DosaiLvr · Post by **DosaiLvr** » Thu Mar 08, 2007 11:52 pm

In CA (all US?) the buyer does not incur any (direct) expense by retaining a realtor.

If you are buying, you could retain a flat-fee agent (~7k in CA) to represent you and have the seller give you a corresponding discount from the otherwise 3% they would owe your agent.

Some buyers retain the seller's agent to represent them as well and work w/ the agent and seller to reduce the final price.

prasoum · Post by **prasoum** » Sat Mar 10, 2007 4:11 am

:emwink: Certainly it looks like I asked a wrong question...I am a newbie in this(RE)..Thanks LoveIndia...I'll get that book...

Thank you all !!:emteeth:

doesntMatter · Post by **doesntMatter** » Sun Mar 11, 2007 1:05 pm

Hiring the sellers agent may not be the safest thing to do. I have heard of one case where the house had some defects in the foundation and this turned up after the transaction. Now if the sellers agent was also the buyers agent, it is not in the agent's interest to bring this up if the seller is paying higher comission or is the sellers friend and you the buyer is trying to squeeze every saving out of the the transaction right ?
Again, I am no RE expert but sharing some heresay. Confirm with your sources if such things can happen or not.

Good luck

DoctorJ · Post by **DoctorJ** » Sun Mar 11, 2007 8:23 pm

prasoum;11617
:emwink: Certainly it looks like I asked a wrong question...I am a newbie in this(RE)..Thanks LoveIndia...I'll get that book...

Thank you all !!:emteeth:
[/quote]

Guys,

I don't think there is anything wrong with this thought process...is it? I've heard of at least a couple of instances when people known to my friends and colleagues have done something along these lines.

Basically, the second hand (hear-say) information that I have is...the unemployed wives used their free time to prepare and clear the Realtor Test to get a license. Then, they used the same to act as their own agent to make 10-15 grand :eek: (savings in other words) in the deal after investing a few days for the license. I'm sure we all understand the risk associated with such line of thinking.

Experts please share your thoughts...on this.

Thanks!

============================================
Innovation is thinking out of box. -DJ :cool:

Mel · Post by **Mel** » Mon Mar 12, 2007 8:38 pm

DoctorJ;11836Guys,

I don't think there is anything wrong with this thought process...is it? I've heard of at least a couple of instances when people known to my friends and colleagues have done something along these lines.

Basically, the second hand (hear-say) information that I have is...the unemployed wives used their free time to prepare and clear the Realtor Test to get a license. Then, they used the same to act as their own agent to make 10-15 grand :eek: (savings in other words) in the deal after investing a few days for the license. I'm sure we all understand the risk associated with such line of thinking.

Experts please share your thoughts...on this.

Thanks!

============================================
Innovation is thinking out of box. -DJ :cool:[/quote]

Can you detail out how this some one's wife saved 10-15 grand? Are there any ethical/legal implications about being a realtor on your own property?