Real Estate

How do realty companies make money?

admin — Sat, 19 May 2012 11:20:41 +0000

I was watching this show shark tank recently and one of the ladies made millions and millions of dollars after selling her realty company, how do they make money, renting properties?

There’s different realty business models. Here’s a few:

- Charge a flat fee per transaction (instead of a % of commission) so you might attract realtors that do many transactions a year who are interested in just paying a flat fee instead of giving away a chunk of each commission.

- Charge low to no fees and charge a certain percentage of the commission. One company I used to work for charged 25% of each deal.

- Charge a high(er) monthly brokerage fee to absorb the costs of doing business (hiring staff, having the best and newest technology to keep your realtors happy)

- Charge for private offices within the brokerage

Where is the best oceanfront beach houses for families?

admin — Thu, 17 May 2012 09:29:41 +0000

My family (at most 15 people) will be going to Myrtle Beach the first week of September. We want a beach house walking distance from the ocean (we have several members that can’t walk long distances) and at most $2000 a week. I’ve looked at all the oceanfront homes on Elliott Realty and a couple other places but I can’t seem to find one that fits our needs.
I want something bright and open and not in a party area. It would be great if there was a pool. Thank you!

Two thoughts –

1) consider renting several adjacent condos on the beach. You could get 1 or 2 condos that could sleep 12-15 people depending upon how many kids there are. Condos generally have pools, are on the beach, and are pretty quiet.

2) check out vacation rentals by owner (see link below). We have used it in other locations and found very good deals. Most owners are negotiable on their listed price. If you have a limit, make an offer and they may accept it. I did a quick search in North Myrtle Beach (where we often stay) and found many that sleep 12-15. One 4 bedroom condo says it sleeps 13-15 and rents for:

august 1st to sept 30th…$1495 to $2395

Since there have been a record number of Bank Repos on Homes, Cars and Suspender Tights under Arm Chair Obama?

admin — Mon, 14 May 2012 05:36:23 +0000

Will Chairman Obama of Arm Chair Realty, be remembered as the REPO MAN President when he leaves office in January. Likely so…….Santorum 2012

She doesnt make any sense in any of her/ his questions or the comment she or he puts on other questions.

Has anyone ever used Home Hunters Realty before to find an apartment?

admin — Tue, 01 May 2012 15:56:22 +0000

I’m trying to move back to NJ in the next month and I spend a lot of time searching for rentals on craigslist. Most of the listings are done through home hunter realtors. Are they legit? They charge a fee to help you find a place. Also, are there Ny sites other than craigslist to search on? Any help would be great, thanks.

Check the stores for apartment finder magazines. They have great sites.

Sales at Sullivan Realty totaled 10 homes for the month. They were as follows:?

admin — Sat, 25 Feb 2012 15:14:30 +0000

Sales at Sullivan Realty totaled 10 homes for the month. They were as follows:
$182,900
$189,000
$160,000
$210,000
$175,000
$158,000
$99,000
$126,000
$185,000
$109,000
Calculate the mean and medium.
I came up with $159,390 for the mean, not sure if that’s right. Not sure what the median is.

Mean is average. So you add up all the numbers and divide by the number of sales:
1593900 in sales, 10 sales, = $159,390 . You are correct.

The MEDIAN is the "middle". (The line in the middle of the road is often called the median as well).

Line up the numbers from smallest to largest, and the one in the "middle" is the median.

1. 99000
2. 109000
3. 126000
4. 158000
5. 160000 -> middle number
6. 175000 -> middle number
7. 182900
8. 185000
9. 189000
10. 210000

When you have an even number of entries,t ake the average of the 2 middle.
160000+175000 = 335,000 / 2 = $167500

Good luck!

How can a logical reality exist within a seemingly illogical construct?

admin — Fri, 03 Feb 2012 02:54:53 +0000

Ultimately no one knows what life is. However, even though this is the case everything here follows certain natural laws enabling organisms to make seemingly ‘intelligent’ decisions to help it survive. Is life a paradox? An apparent known reality within the unknown?

There is logic always. You just need to understand, that the logic may appear in way smaller form, than you thought.

Example.

My car is new—>The car can’t break
My car is new and it broke—>Illogical

Ant that’s where one goes wrong. In factory a small part of metal went wrong (lets act as a mechanic and say there was one small bubble in cast of one connection rod) in producing phase and it caused minor damage, which caused more damage until the car engine spat broken pieces of metal everywhere. That al is logical, when you notice the scale even thou it seems not logical, if you look it from distance.

Biggest problem in logic is that earthling believes it is the top of spieces and the world exists because of it. But the human brain is very small part on long chain of coincedences called life. And that poor thing of an thinking machine mixes the logic to something, how the owner of said brain wants to belive things are.

There is just one thing free of logic. Thats a produce of human brain. Thinking may give illogical results. Still this doesn’t change the fact that there is logic in everything.

Are reality television shows good or bad for black people?

admin — Sun, 22 Jan 2012 02:44:57 +0000

There was a time when some black leaders complained about the lack of positive blacks on TV. It seems with all of these reality shows, there are more black people acting and being themselves than ever before for all of America to see. But like all people on reality shows, these folks (especially the women) seem to be very vain, superficial, and neurotic. Does the good outweigh the bad?

Reality TV is bad for everyone, who needs to be put down by a group of strangers in front of millions of people?

SBI realty home loan?

admin — Tue, 17 Jan 2012 02:46:21 +0000

Hi I have availed SBI realty home loan last year for purchase of plot on a condition that I must start the construction in 2 years. Last year I have estimated the construction cost. It was low when compared to the current rate. I think I could not afford that much for construction now. What actions can the bank take against me in case if I am not starting within the stipulated time of 2 years?
I have availed loan from SBI (india).

Your loan was conditional based upon you starting construction. If you fail to meet that requirement then they could withdraw the loan. The requirement is that you must start construction, not complete it. If you only begin your project you would have met the requirement of the loan agreement. Starting could only mean that you pour the foundation.

What’s Mixed Use MDL-94?

admin — Tue, 10 Jan 2012 07:07:14 +0000

I’m interested in a property and it is zoned for "Mixed Use MDL-94". I don’t know what MDL-94 stands for and it doesn’t elaborate in any legend, I did a quick google search to see if anybody defined it but I just had more appraisal listings with "MDL-94".

I’m not really in the realty business so I don’t know if it’s an abbreviation, an acronym, or anything.
Any help from realty-lingo savvy people would be appreciated.

am going to guess since i have never heard of this but have an exc RE background

it represents two things;

modular building design 94
and

mixed use–meaning it allows different uses, house and business in the same building
and next to other commercial buildings

hope that helps

happy new year

Do realty companies like Century 21 offer health insurance and 401k plans?

admin — Tue, 03 Jan 2012 04:52:46 +0000

With matching contributions?

Or are realtors mostly left out on their own to fend for themselves?
Just curious.
Oops – for their employees (workers).

The realtors are not employees. Everyone is self employed, even realtors are answering the phone, they get leads from the phone, not pay.

The office may belong to a HMO, but the realtor will have to pay 100% of the costs, which is going to be roughly $1,000 a month for 1 person, $1,500 a month for a family