October 22, 2006

Interesting Real Estate Statistics...

Earlier this week I wrote a three piece blog article on real estate commissions explaining how the industry works, how agents are employed, and how commissions are paid out. Although I tried to remain neutral and not interject personal opinions in that article, one of the things about real estate that has always intrigued me is the attitude most new agents bring into the industry (i.e. it’s a get rich quick gig where the work is easy and the payout is ridiculous high). In my opinion, this mirrors the difference between perception and reality in the way the general public views real estate agents as well.

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October 18, 2006

How Agents Get Paid, Part III: Breaking Down Commissions

Over the past two days, I have discussed how real estate agents get paid by showing the relationship the agent has with their employer, how most employers pay their agents and by looking at all of the various options that exist within the real estate industry. If you haven’t read the previous installments of this article, I suggest you start by reading installment #1 here.

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October 17, 2006

How Agents Get Paid, Part II: Understanding Your Options

Yesterday I started a discussion on how real estate agents get paid by discussing the relationship the agent has with their employer and how most employers pay their agents. Today I would like to continue that discussion by explaining all of the various options that exist within the real estate industry because my experience is that most new agents are unaware of all the options they have available to them. If you haven’t read the first installment of this article, I suggest you start by reading it here.

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October 16, 2006

How Do Agents Get Paid?

Recently I had a new real estate agent ask some very simple questions about how agents are compensated. Although it may seem surprising that someone who has taken the time and expense to get licensed hadn’t done the investigation into how they would get paid once they had their license, my experience has been that it’s actually quite common. With this in mind I thought I would take the next few days to write a three part blog on how the real estate industry works, what your options are as an agent, and how agents get paid.

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September 08, 2006

Crimes Against Real Estate Agents

If you’re not from St. Louis (or haven’t read the news lately) there were two real estate agents robbed at open houses in the St Louis area last week. One had their car stolen; the other was kidnapped at gun point where he was forced to take money out of an ATM. A suspect was apprehended yesterday. Now, it’s easy to shrug that off and say, “It was a one time occurrence,” or, “It was in a different town; I’m safe where I’m at.” However before you do, I would encourage you to read the rest of this article.

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July 04, 2006

Holding Your Own Brokers License...

I moderate a local real estate investors discussion forum at the Invest in St Louis Website. Last week there was a new agent who posed the following question on the forum:

“I am brand new to this industry. I am going to be rehabbing homes and doing a little bit of property management. I am really confused about whether or not to become a licensed broker. I have passed my real estate sales person state test, but I will be owning my own property when I go to sell it. Any advice - pro-broker license or against broker license?”

Here are some excerpts from my answer in case you are pondering the same question. Please note that items relating to licensing laws are specific to Missouri and may be different in your state.

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July 02, 2006

Real Estate Blogging... WHY?

Welcome to my new blog! This posting is a continuation of my last posting where I’m going to discuss the value of blogging for real estate agents.

Now I know what you’re thinking- “This is the second post on this blog; how can a guy whose written two blog posts give “expert” advice on blogging!?!” Well, for the record, this isn’t my first blog. My first blog posting came a few days after Christmas in 2004.

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