Types Of Specialized Properties

Here is an overview of some specialized areas of real estate that may have an attraction for you, while you are still active in a general brokerage. In a brisk, fast-moving real estate market, many professional home-builders construct what they call spec (speculation) homes. This simply means that they build the homes before they have a buyer and gamble that they will sell before costs associated with construction and financing eat away the potential profit. The ultimate example of this can be...

Find A Niche And Fill It

There have always been great opportunities for real estate professionals in identifying and working in specific niches. You have agents who specialize in everything from marketing bed-and-breakfasts to selling large rural properties. There are two niche markets that deserve special attention. I mentioned working with retirees briefly in Chapter 8, but the topic deserves elaboration. Americans are living longer, and living more vigorously. Retirement has taken on an entirely different meaning...

Finding The Sellers

If, as they say, old salespeople never die, they just become listless, then here are some suggested sources of listings to keep you alive and perky. In the discussion that follows, I am assuming a traditional relationship between the licensee (you) and seller in which the owner who lists a property is the client, pays the commission, and is owed a fiduciary responsibility. Former Clients of Agents No Longer in the Office. All offices have some turnover of agents, and not every broker does what...

Real Estate Marketing

How to Find, Buy, Manage, and Sell a Manufactured Home Community. Indianapolis, IN PMN Publishing, 1998. Allen is the guru of manufactured homes. This is a great basic reference. Check out www.mfd-housing.com gfa. Brown, Ray, and Eric Tyson. Homebuying for Dummies Third Edition. Hoboken, NJ Wiley, 2006. All of the Dummies books on real estate coauthored by Brown are exceptional. Cook, Frank. 21 Things I Wish My Broker Had Told Me Practical Advice for New Real Estate...

Real Estate Agency

Common law of agency including fiduciary requirements. 1. The position of trust assumed by the principal broker as an agent for the client is described most accurately as a I. client's funds are mixed with the agent's personal account. II. agent's funds are mixed with the clients' trust account funds. A. I only B. II only C. Both I & II D. Neither I nor II 3. Which of the following would be considered dual agency I. Two principal brokers who are cooperating with each other to sell the same...

Real Estate Practice

Listing agreements sales agreements offers to purchase and counter offers federal fair housing and Americans with Disabilities Act. 1. A listing agreement is essentially 2. To create a valid listing for the purpose of selling real estate, a principal broker must have A. two witnesses to the contract. C. a general power of attorney. D. a signed deed by the sellers. 3. When a broker terminates his association with his principal broker, all of the current listings written by the broker A. may be...

Real Estate Finance

Government lending policies conventional financing government lending laws Truth-in-Lending Equal Credit Opportunity Act Real Estate Settlement procedures Act competitive market analyses mathematical calculations. 1. In a so called tight money market, one would expect to find A. potential borrowers delaying projects, expecting interest rates to fall. B. lower interest rates than in an easy money market. C. marginal borrowers forced out of the credit market. 2. If the Federal Reserve Bank feels...