0
Can a real estate agent who is selling a property be the owner of the property?
Wiki User
∙ 13y ago
Yes in many cases they are the owner of the property which they are selling.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is a Real State Agent?
Real estate agent - A person who is authorized and experienced in the buying and selling of real estate property. Real estate agent is provide all details about real estate property value, demands, all guidline and rules of all type of proeprty.
What do you call A person who sells their house?
An estate agent is the person usually employed to sell a person's property. Usually with the aid of a solicitor employed by the seller/owner of the property.
If a common law partner buys out the other then sells who is responsible for the real estate fees on selling?
The current owner of the property.
When would it be important to disclose that you are not someone's real estate agent?
When the stand with the buyer side and the owner of that property come with you for sale that property at that time it is very important for you to disclose that you are not someone's real estate agent. But if you disclose that thing at that time then it will build the trust on your relation.
Does the owner of a building company need a real estate licence to sell?
In most states a real estate license is needed in order to sell property owned by someone else. A real estate agent sells someone else's property for a commission, as a service provided to the seller. Anyone can sell her/his own property without using an agent. So the owner of a building company presumably owns the property he builds, and can therefore sell it without a license.
What is an estate sale of real estate?
An estate in this sense refers to the real estate owned by a decedent at the time of their death. The purpose of an estate sale is to sell the property of a decedent so the proceeds can be distributed to the heirs. After an owner of real estate has died, their estate must be probated so the real estate can be sold. The sale must be handled by an estate representative duly appointed by the probate court and that representative must have the proper authority to sell the property. An estate sale of real estate would be a sale of the real property owned by the decedent.
Do you need real estate license to buy and sell notes?
If the house will be yours then you can buy the house without a license. If the house belongs to you then you can sell it without a license. However, I highly recommend that you use a real estate agent when buying and selling real estate. When buying real estate, title searches need to be performed to determine who is the rightful owner and what debt and taxes are levied against the property. When selling real estate, the buyer's credit and financial ability has to be determined before selling the property to the buyer. If these things are not done properly you could end up getting ripped off big time.
Do real estate agents get paid for a cash sale?
The direct answer to this direct question could be either yes or no. How the buyer comes up with the money to purchase a property has no relation to whether a commission is paid or not. The deciding factor in which real esate agents get paid or not is the agreement between the property owner and that agent. If the answer to the question is 'Yes', then there was an agreement that stated a commission would be paid by the owner to the real estate agent - regardless of the buyer's financing decisions. If the answer to the question is 'No' then there was no contractual agreement between the owner and the real estate agent.
Who pays the property taxes on life estate?
The owner of the life estate.
How much money does a real estate agent get from a commission?
The commission may vary from state to state, but the standard amount is six percent. But the commission may be divided three ways, depending on who listed, showed, and sold the property, and who owns the real estate agency. The commission is paid by the seller of the property, not the buyer.A real estate broker is a real estate agent who has additional licensure and is usually the owner of the real estate agency. The broker employs real estate agents (sellers) to list, show, and sell property for the agency, but they work on commission, not salary. When a person decides to sell their property through a real estate agent, they will contact a real estate agency to list the property. The agent who lists the property is the listing agent, but other real estate agents, including the broker, can show and sell the property to prospective buyers, too.The agent who shows the property to the one who purchases it (the agent who 'closes the deal') is the selling agent.This can even be a real estate agent who works for another agency (broker), since it's rather common for one agency to list a property and another one to show and sell it.So, say John Brown wants to sell his house and contacts ABC Real Estate Agency. He speaks to the agent who was listed on the 'For Sale' sign and, after the agent meets the seller and examines the property, they decide on a price for the house, fill out all the paperwork, and it's now on the market. That agent is the listing agent.Then Simon Smith drives by the house, sees it, likes it, and wants to look at it. So he calls the agency who has it listed (ABC Real Estate Agency). But the listing agent isn't available, so another agent shows Simon Smith the house. Simon Smith loves the house, agrees on the price, and buys it. The second agent is the selling agent. In this case, the total commission of 6% on $250,000 is $15,000, and will be divided three ways. The broker will get 2% of the commission, which is $5,000. The listing agent will also get $5,000 at 2%, and the selling agent will get $5,000 at 2%, as well.But if the listing agent had been the one to also show and sell it, they would have received $10,000 commission, and the broker would have received $5,000. And if the broker had listed, shown and sold the house, he would have received the entire 6% commission of $15,000.
Do you have to live in house now to receive life estate?
No. An owner of property can grant a life estate at any time to any person of their choosing.No. An owner of property can grant a life estate at any time to any person of their choosing.No. An owner of property can grant a life estate at any time to any person of their choosing.No. An owner of property can grant a life estate at any time to any person of their choosing.
How much real estate commission do new home sales agents earn?
A real estate agent can earn usually from five to ten percent of a commission based on how much the property was sold for. they could earn more or less depending on how much the property is worth and what percentage the owner is willing to pay for the agent to sell his property.
