Re: HOUSES 4 SALE, by MH

As a former broker I can tell you the scoop.

6 percent commission and 3 of that goes to the selling agent.

Signs cost from around 50 dollars each
Advertising can cost from 250 dollars to 1250 dollars. Depending how long it takes to sell.
Yearly dues cost around 1000 to the board
You must have a newer car and you pay all the gas to show every tom, dick and harry who wants to see a house.
YOu work around 7 days a week and as much as 12 hours a day and the way I figure it is that the basic real estate agent makes around 25 cents an hour so no they are not getting rich. Some of the elite make the big bucks but very few.

I made around 100,k a year but I had to pay around 5k a month just to break even so go figure.

I specialized in short pays in California and I was the best and was working with the Governor's office. I am surprised more people are not going that route. You hire a realtor to negotiate with the bank and you sell the house for market value and the bank takes the loss. Of course the person has to show he is unable to pay the current mortgage and it shows as a negative on your credit report but it sure is better than a forclosure and most home owners were getting friends to buy the home and rent from them. I sold homes that were 850k at a bargain price of 405K so it is a all round good thing. There are alot of scams out there so you have to be careful.
Look for an agent who specializes in this home short sale and look for references. Most agents don't like this way because they have to cut their commission also, sometimes I only got 4 percent but I gained alot of friends and referrals so it always paid off.

My clients thought of me as their friend and that was something I cherished. I was the only covered Muslim in all of southern california so you can see the battle I had and I was the number one independent office, GO FIGURE!!!