A BUYER
decides the price of a house.
Who is primarily responsible for determining market value of home?
Key Insight: Generally there are three main parties that may determine the market value of a home–
the listing agent
, a neutral agent (or your agent), or an appraiser.
Who ultimately determines how much commission that the listing agent will be paid?
Here’s the short answer: In California and Texas, as in most states across the country,
the seller
is typically responsible for both the selling agent’s and listing agent’s commissions.
Which of the following parties ultimately determines the listing price quizlet?
Which ultimately decides the listing price of the property? The answer is
seller
. The broker may help the seller determine the price by performing a comparative, or competitive, market analysis (CMA).
What role refers to the responsibility you have to act as an agent or champion for your client?
A similar, recently sold property in the neighborhood. What role refers to the responsibility you have to act as an agent, or champion, for your client? …
The seller or buyer of real property who benefits from a fiduciary relationship with a real estate agent or
broker.
Who is responsible for determining market value?
Your buyer specialist
can determine this value and help you use it to formulate a smart offer. Most inexperienced buyers learn the hard way that merely offering less than the asking price (to see what the seller will do) is no way to buy a home.
Who sets the market value?
Market value is determined by the valuations or
multiples accorded by investors to companies
, such as price-to-sales, price-to-earnings, enterprise value-to-EBITDA, and so on. The higher the valuations, the greater the market value.
What is Remax commission?
Alberta Flag. In Alberta, the typical combined real estate commission or fees of both the buyer and seller agents is
7% for the first $100K of home’s price and 3% of the remaining balance above $100K
. It is usually split 50/50 between the buyer’s and seller’s agents.
Do buyers ever pay realtor fees?
Realtor fees — also known as commission — are part of almost every real estate transaction. However,
buyers don’t typically pay them
. Instead, realtor fees are usually wrapped up in the seller’s closing costs. … They’ll also usually have closing costs they have to cover.
Do buyers pay broker fees?
Buyers essentially foot the bill for these fees when it comes time to close. According to agent Elizabeth Weintraub, “It can be argued, quite rightfully so, that
the buyer always pays the commission
. Why? Because it’s typically part of the sales price.
Which listing contracts do most brokers prefer?
An exclusive right to sell listing
is the most widely-used listing agreement. Under this agreement, the broker has the exclusive right to market the property for a specified period of time.
What is the Equator platform?
Equator
®
offers an industry
-leading SaaS residential distressed loan and REO management platform
.
What does CMA stand for relative to real estate?
What Is A
Comparative Market Analysis
(CMA) In Real Estate? A comparative market analysis is a tool that real estate agents use to estimate the value of a specific property by evaluating similar ones that have recently sold in the same area.
Why is dual agency problematic?
At best, they say, dual agents can’t fulfill their fiduciary obligations to both parties. They can’t advance the best interests of both buyer and seller because those interests always diverge. At worst,
dual agency creates a harmful conflict of interest
.
Which of the following listing contracts offers the most protection to the broker?
Exclusive Right to Sell Agreement
This includes any buyers brought in by the seller or another broker with or without the services of an agent. The Exclusive Right to Sell Agreement is the most commonly used listing contract and the one that offers the most protection to the broker.
Which type of agent is not sponsored by or associated with the principal’s broker?
As defined in the Texas Real Estate License Act, what is
a sub-agent
? A license holder who represents a principal through cooperation with the principal’s broker and who is not sponsored by or associated with the principal’s broker.
Who represents the title company and facilitates the final transaction?
Closing agent
The closing agent (sometimes called an escrow officer)
represents the title company and facilitates the final transaction. That means making sure both parties’ closing documents are in order, reviewing the title work, and conducting the actual closing.
Does Keller Williams have desk fees?
Desk fees at Keller Williams
Realty are Optional
. … Only a small percentage of agents actually rent a desk inside the office market center, and when they do, they are charged the exact cost that the office bears for the square footage that the agent occupies.
What is Keller Williams commission?
Every agent is
on a 70/30 split
. That’s 70% to the agent and 30% to the broker. Since KW is a franchise, there is a franchise fee (6% on each transaction up to $3,000) which is included in this calculation. … With that said, the Keller Williams commission split is very competitive compared to other real estate firms.
How much does a realtor make in Alberta?
In Alberta, Real estate agents and salespersons earn an average of $30.35/hour or
$61,168.00/year
.
Who pays closing costs buyer or seller?
Closing costs are paid according to the terms of the purchase contract made between the buyer and seller.
Usually the buyer pays for most of
the closing costs, but there are instances when the seller may have to pay some fees at closing too.
How can I avoid buying realtor fees?
- Go for half. The typical commission is 6 percent, which is split by the agent for the buyer and the agent for a seller—3 percent each. …
- Shop around. …
- Ask what you’re getting for your money. …
- Hold out for a higher selling price. …
- Find alternatives.
What does BPO stand for in real estate?
A
broker price opinion
, commonly known as a BPO, is a real estate professional’s opinion of a property’s value. BPOs are most often used when setting the list price of a property, similar to a comparative market analysis, and in the case of a foreclosure or short sale.
What document you will use to demonstrate market price?
A property sales data report
will give you an estimate of the current market value of a property based on past sales and sales of similar properties. A current price estimate can help you set a realistic selling price or decide whether a property you want to buy is within your budget.
How much is a bedroom worth in a CMA?
Since Comp 2 sold for $220,000 and Comp 1 sold for $200,000, I will estimate that 1 bedroom is worth
around $20,000
in a property that is identical in other ways.
What are the 4 types of real estate?
- Residential. The residential real estate market in the U.S. is just plain huge. …
- Commercial. The commercial real estate (CRE) market is best known for world-class shopping centers in California, trophy office properties in Manhattan, and oversized investor personalities. …
- Industrial. …
- Land.
Who owns the equator?
Equator was acquired by
Altisource
for $70M on Aug 21, 2013 . Looking for the Right Companies and Prospects?
Why is it hotter at the equator?
Because
the sun’s rays hit the earth’s surface at
a higher angle at the equator.
How far is Florida from the equator?
Where is Florida in relation to the equator? Florida is
1,911.46 mi (3,076.19 km)
north of the equator, so it is located in the northern hemisphere.
Why is net listing illegal?
Net listings are banned for most real estate agents
Because members of the NAR account for more than 1.4 million of an estimated more than 2 million agents in the U.S.
, roughly 70% of real estate agents are effectively banned from using net listings.
What are the three most common types of listings?
What are three most common types of listing?
Open listing, exclusive right to sell listing, and exclusive agency listing thing
.
Can estate agents tell you other people’s offers?
Estate Agents can’t legally tell you how much the other offers were
for, but they will usually indicate if they were close to the asking price, which can help to inform your own decision.”
Should I avoid dual agency?
To protect your finances and ensure you are selling or buying at the best possible
price
, it is probably best to avoid dual agency. Buyers or sellers may be inclined to work with a dual agent because they want to obtain confidential information about the person buying or selling the home.
Do you believe it is ethical to act as a dual agent?
Is dual agency ethical?
Dual agency is illegal in every fiduciary profession other than real estate
(state laws allowing) because of the risks it creates. Therefore many folks outside and within the real estate industry view it as unethical.
