Agents | Real Estate Blog

June 20, 2010

Real Estate Agents Do Something Before Its Too Late!

Filed under: Uncategorized — Tags: Agents, Before, Estate, Late, Real, Something — admin @ 1:30 pm

The advent of the global slowdown and credit squeeze is bringing on the pains in the real estate industry. It’s now time for some thinking out of the box and for determined real estate agents to be more creative in the way they run their business

I work with hundreds of real estate agents from about 40 countries worldwide and if there is one thing for sure the slow down is taking out established real estate agents companies. The good news is that many are surviving and some or even doing more business than ever. So what is the difference between one real estate businesses crashing to one that survives? This answer to me is the difference between being flexible in an approach to selling and at the same time having good business housekeeping

Lets deal with business house keeping, its a fact that for most agents regular income is reducing, this means nothing can remain the same so its time to act. It is clear that no matter the type of business you run you are you will need to reduce overheads this statement sounds simple enough but some real estate agents cannot do this owing to long term commitments. These are things like the rent for a building or office, imagine being tied in to a 24 months contract and you will see where I am coming from. Staffing costs are the major part off most businesses expenditure and this is the same for real estate agents. The hard fact is you will need to examine plans to reduce staffing costs.

The thinking out of the box I mentioned now revolves around bringing new business and developing multiple streams of income. Real estate agents need to widen their audience and attract potential buyers from out of town. I knew of one real estate agent who sold luxury homes. He found buyers in Europe and beyond by promoting his high end real estate online. I am in contact with a Florida agent who now sells Florida properties via on online auction. I have other agents who have dumped the usual inventory to find more attractive property, deals with low finance options our other attractive incentives. Some agents deal purely in bank owned property or homes that will attract people in a credit crunch

No matter which country you run your business selling to international buyers is a prospect that you should consider. Selling property to overseas property buyers is not as straightforward as selling to local property buyers. Overseas buyers are in a state of disorientation and may feel vulnerable to malpractice. This results in overseas buyers being seemingly over cautious and on some occasions suspicious of the property agent. The real estate agent’s job is to reassure and inform and never over sell. I have seen numerous examples of American real estate agents selling to British buyers who simply turn the buyer off with their style. Generally the British for example do not want to hear over exaggerated sales talk or feel pressure. It may work initially and real estate agents can end up taking a deposit. What you will find later is a withdrawal from sale later along the way.

Overseas buyers warm to real estate agents that do not create additional pressure. Buyers are already under a lot of pressure real estate agents should not be adding to this. Many are apprehensive of being ripped off. They want to know that you are legitimate and for you to prove it. The golden rule is to inform inform and inform again. Information will help sell your properties to overseas buyers. Never over sell or create a climate of pressure, after all the buyer is already under stress. Be ready with information know about visa applications , importation costs, taxation, mortgage process, building insurance, local taxes, local crime trends, schools, leisure facilities and the buying process in your country are to name but a few.

In summary it seems that selling to overseas buyers is one element on the road to surviving a global slow down in the real estate industry

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June 7, 2010

For Agents And Brokers: Simple Guide To Selling Your Commercial Real Estate

Filed under: Uncategorized — Tags: Agents, Brokers, Commercial, Estate, Guide, Real, Selling, Simple — admin @ 8:28 pm

If you are just starting out as a real estate agent, it can be difficult to get started selling commercial real estate. However, commercial real estate is the big money maker in the real estate business. Since commercial real estate has become quite popular since it is such a money maker, it can be difficult and expensive to get started in this type of real estate. There are, however, a variety of ways that you can get started and start getting more commercial real estate deals if you are willing to do a little work.

Online Free Ads
One great way that you can get started in selling commercial real estate as an agent is to use inexpensive methods of advertisement. One great way to get the word out there about the property you are trying to sell is to use free online ads. There are a variety of different websites that are available for you to post classified ads on that list a property, or even multiple properties for sale, and the great thing is, you will not have to pay a penny. Not only is this a cheap way of exposure, but it is also a quick way to get your property noticed. Many times, your ad will be seen quicker when you put it on the web and by many more people. Local newspapers take more time and money to get you the exposure and only reach a local group of people, while advertising with free online ads can get your world wide exposure and help you sell the commercial property.

Free Real Estate Publications
Another way that newer real estate agents can get their commercial properties noticed is to advertise them in free local real estate publications. Whether it is a publication specifically for real estate or a publication that only includes real estate, this is a great way to advertise your property for free. This is an excellent way to gain local exposure, not only for the commercial property you are trying to sell, but also for you as an agent. Make sure that you continue to run ads for your property in these types of publications. Even though at first you may not see results, remember that many times it takes awhile for commercial real estate to sell, but perseverance can lead to a large pay off when you finally sell the property.

Quality Signs
If you are trying to sell a commercial property, especially one that is near a well traveled road, you may want to invest in a quality sign to advertise the commercial property. A small unprofessional sign may not attract any attention at all, but a larger sign that is well crafted and attractive can get the attention of many people who are driving by. You never know who may drive by the property and see your sign. While it will take a bit of money to get a great sign, it will be worth the money that you spend to get your property noticed. One never knows when a local business will need a new site, or someone with money to invest will be looking for an opportunity, and your sign will make sure that they will see your property when they drive by, which may lead to a sale.

Establish Business Connections
As a new real estate agent, one of the best things that you can do is to start establishing business connections with a variety of different people. Speak with other real estate agents that are successful in selling commercial real estate and learn from their mistakes and their successes. Also try to get involved with local business people and know the market that you are trying to sell in. Often, if you can get the word out that you have a great piece of commercial property, it may spread to the right business people that will want to check it out. A great deal of being successful in the commercial real estate market has to do with the connections that you have, so work on making various business connections.

Find Your Own Leads
Even if you are working in a broker’s office, you should not expect the leads to be coming your way within the office. More than likely any leads within the office will be given to someone with more experience in commercial real estate until you have proven yourself to excel in this field. You will have to take the initiative to get the job done, and it is possible with a great deal of hard work. Check out the Chamber of Commerce in your area and find out who the business people are. You may also want to attend local zoning meetings where you will meet prospective investors who are looking for great properties. Even hitting up your local golf courses can help you make friends with local business people who may be prospective clients.

While it may be difficult to get started as an agent in commercial real estate, it is definitely possible if you are willing to work hard. Using the internet to advertise as well as free local publications can get the word out quickly and inexpensively so you will save money and get a broader base of exposure for what you are selling. Signs will also provide great exposure and show that you are serious about the commercial real estate business. Also important is making the right contacts and finding your own leads so you can excel in this business and prove to be a great commercial real estate agent. There is a great deal of money to be made in the commercial real estate industry, and hard work, dedication, and patience on your part can help you become successful.

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June 5, 2010

Roles Real Estate Agents Play in Bank Foreclosure Real Estate

Filed under: Uncategorized — Tags: Agents, Bank, Estate, Foreclosure, Play, Real, Roles — admin @ 11:29 pm

When it comes to real estate properties for investment, nothing else can offer much return potential as bank foreclosure real estate. These potential are not only for buyers but also for individuals considering a career as real estate agents. To become an agent, you will need to pass a real estate licensing exam before you began selling any property, even bank foreclosure real estate properties.

Bank foreclosure real estate features properties re-possessed by the banks from owners due to default in mortgage payment. Before a real estate property is considered to be foreclosed, it passes a legal foreclosure proceeding. The moment a single payment is missed, the bank will try to contact the owner to know the reason for such delays. If the owner did not communicate effectively with the bank, then the bank has no choice but to file for a “Notice of Default”. Depending on the state, the owner will have an average of 30 days to cure mortgage default.

The re-instatement period is also known as the pre-foreclosure stage. Since foreclosure proceeding has not been completed, the property is still in possession of the owner. The owner, in this situation, could choose to sell the property. A pre-foreclosure sale is usually a direct transaction between the owner and the buyer. In cases where the property was listed, a real estate agent will be the one dealing with the buyer in behalf of the owner.

Once the foreclosure proceeding is completed with the owner not being able to cure default during the pre-foreclosure stage, the bank will have to file a “Notice of Foreclosure”. A foreclosure sale is usually set a week after the notice has been filed. In a foreclosure sale, you will see interested buyers: banks to whom mortgage is owed, private investors and of course real estate brokers and agents. All of these people are there to bid for bank foreclosure real estate. The highest bidder naturally wins the auction.

Some bank foreclosure real estate property survives a foreclosure auction and becomes the possession of the bank that holds the lien. These bank foreclosure real estate properties are no called real estate owned or REO. When the bank’s inventory of REOs or bank foreclosure real estate properties become too big, it will decide to enter into foreclosure listings contract with reputable real estate brokers. These brokers will assign real estate agents to handle these bank foreclosure real estate properties.

From this stage onwards, real estate agents will play a major role until the bank foreclosure real estate property is sold and commission is collected. If you noticed, in all stages of foreclosure, real estate agents are presented with an opportunity to earn. So do not be surprised that more and more people are deciding to shift careers and become real estate agents.

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May 22, 2010

Real Estate Agents Is Inevitable For The Best Deal!

Filed under: Uncategorized — Tags: Agents, Best, Deal, Estate, Inevitable, Real — admin @ 2:24 pm

There are some people, who feel that a real estate transaction can be carried out without the assistance of a real estate agent. Once I was also thinking like the way you are thinking now. With just one transaction, I have changed my feeling or attitude and I fully convinced that for the best deal, the service of real estate agent is inevitable.

Of course you can get deals without the support of real estate agents, but not the best deal! I am sure you will also change the mindset in a short time.

If you are thinking that you have to pay commission to a real estate agent when you buy a property through him, I can tell you that you may be wrong. It is only the seller who pays the real estate agent. As a buyer, the service of a real estate agent will not add up in your expenses. Avoiding the real estate agent simply means that you are adding up the profit of the seller. Policies of commission may vary from state (or country) to state (country) as well.

When you deal with a real estate agent you should better make sure that he is not charging you any commission from you as a buyer. You can have a dialogue or interview with the agent so that you will be clear about his terms and conditions. And also this will help you to get a primary assessment about the capabilities of the real estate agent as well.

Many real estate agents are out there who work with sellers as well as buyers. There are many real estate agents who work with either with sellers or buyers only.

If you are a potential buyer looking for real estate properties, make sure that the real estate agents you prefer have good experience in working with buyers. Good real estate agents will be there with you until the deal is closed. They will support you during the time of transactions, documentations and approvals.

You can interview the real estate agent to find out whether he is familiar with the programs like down payment assistance. If he is not well versed with such programs, you should not hire him. The agents who do not have familiarity in these types of transactions will not be having much experience as well. So you will not able to get your investment through them.

First step in selecting the best real estate agent should start by making a short list of agents to be interviewed. You can get information about the agents from friends and family members or from lenders. Generally lenders may suggest some agents and mostly they will be agents working with buyers. The recommendation of the lender will be a good choice as they know each other and must have worked earlier together.

The agents who work with the buyers only will be the best option for you, if you are a buyer. Similarly those who work with only sellers will b the best choice for you as a seller. You should discuss with the real estate agents about his fees in the first interview you have with him. This will assure you a transparent deal.

You can ask for a sample contract to see the terms and conditions. You have to make sure the agent will work in favor of you, not for the other party. You should spend much time and efforts to locate a perfect real estate agent; you should not rush in deciding the agent. Make sure that you get an agent who is not a man after money only; he should have a genuine interest in supporting you in the deals.

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May 16, 2010

Sandpoint Idaho Real Estate Agents – the Good & the Bad

Filed under: Uncategorized — Tags: Agents, Estate, Good, Idaho, Real, Sandpoint — admin @ 6:26 pm

Short ones, tall ones, fat ones, skinny ones, good ones, bad ones, sad ones, happy ones. The list could go on and on forever, and starts to sound like a Dr. Seuss story. Like in any profession, you will find a wide variety of people who fit into the Sandpoint Idaho real estate agents category. They are professionals who are there to serve clients buy and sell real estate, and there are a lot of them.

Sandpoint Idaho is a happy place. Good schools, modern shopping, beautiful scenery and lots of recreational opportunities. Some quick research reveals that there are hundreds of Sandpoint Idaho real estate agents. Since North Idaho is such a great place to live it makes sense that there would be plenty of professionals to help people come and go. Some agents focus on transactions in raw land, others on homes, others on commercial. Any prospective buyer or seller can find an agent to help them with what they need. If you are more comfortable dealing with a nationally franchised real estate company you can easily find that. If you’d rather work with a smaller, more private agency, you can do that as well. No matter what your preference, Sandpoint, Idaho real estate agents are going to be able to help make your real estate goals and dreams come true.

Here is a list of some of the agencies in or near Sandpoint, just to name a few:

Century 21 RiverStone Real Estate

Maiden Rock Real Estate

Dover Bay Real Estate

CM Brewster & Co Real Estate

Windermere Real Estate/Idaho First Realty, Inc

Remax All Season Real Estate

Four Seasons Real Estate

Lake Country Real Estate

Dover ID Real Estate

Evergreen-Realty

Now let’s face it, some people make good agents and others don’t. I have experienced both good and bad Sandpoint Idaho real estate agents. Years ago, when I was renting a house that was on the market, I had a situation that bugs me to this day. The real estate agent came to the house when we weren’t home to show it to a prospective buyer. For whatever reason he didn’t have a way in to the main house, but knew that there was a key in the garage / shop. He had his little boy with him so he got creative. An open window in the shop area allowed him to lower his kid into the room, and unfortunately down on to a balsa wood RC airplane that I had been building. The kid stepped on the wing and broke a piece off. They got what they needed and left, leaving me a little note that said, “No key, got one from shop, sorry about plane. ” I called him about it and he told me that’s what happens sometimes. That’s it! No apology, no offer to remunerate me. I lost some respect that day for that agent.

But, I realize that not all Sandpoint, Idaho real estate agents are that way by any means. In fact, one of the best business experiences I’ve ever had came from working with an agent that was a real pro. She constantly kept us informed, did everything possible to ease our concerns and stresses along the way through negotiations, and in the end even gave us some wonderful house warming gifts.

If I were buying or selling real estate in the Sandpoint area, and needed an agent today, I would do some careful research first. I would consider the Sandpoint Idaho real estate agents, their reputations, how satisfied previous clients are, and then pick one that I trusted and thought would be energetic in working to assist me in my goals.

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May 11, 2010

All About Real Estate Agents

Filed under: Uncategorized — Tags: About, Agents, Estate, Real — admin @ 8:31 am

Real Estate Agents. . . . .

Who Are They. . .

Real estate agents are professionals instrumental in connecting the buyer with the seller.

Additionally, many real estate agents manage rentals wherein they introduce tenants to landlords and oversee the maintenance of the property on behalf of the landlords.

In most areas real estate agents are required to be highly educated, licensed and are regulated by a governing body.

Some real estate agents are also Realtors.

To use the title Realtor, a real estate agent must be a member of the National Association of Realtors which in addition to a number of other requirements, requires Realtors to adhere to a strict code of ethics and offers Realtors additional educational and designation opportunities.

Though not required by rule or law, it might be a wise decision to seek the services of a Realtor.

What Do They Do. . . .

Real estate agents bring together two or more interested parties, perform those steps necessary to successfully conclude a transaction and charge a commission for their services.

For sales transactions, they charge commission to the seller while for rentals, commission is typically charged the landlord.

Real estate agents generally calculate their fee as a percentage of the selling price (in the case of a sale) and as part of the rent for rental units.

How Do They Do It. . .

People who want to sell or rent their property leave details of their property with the real estate agent.

Along with all property details the real estate agent will typically have keys to the house to facilitate showings.

The other interested party (i. e. the buyer/tenant), gets access to this information and to the property by contacting the real estate agent.

That’s how the real estate agent becomes a hub of information.

Contrary to some common misconceptions, real estate agents typically represent the seller or the buyer but rarely both.

Why Should I Use One. . .

First and foremost, to protect yourself. Real estate transactions are highly regulated, highly paper (document) intensive transactions.

The real estate agent possesses an in depth knowledge of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction to the satisfaction of the buyer, the seller and the law.

Because real estate agents are most familiar with local real estate market conditions, it is wise and makes sense to seek the advice of one to get an idea of the current trends and pricing for properties within that market.

A good real estate agent will know the prices (or price range) of various properties of different types and at various locations within the region.

Because of the real estate agent’s knowledge and expertise, property sellers often get a few thousand dollars more for their property.

Many home seekers, including seasoned real estate investors use the services of real estate agents to locate the best real estate bargains in the easiest and quickest manner.

Furthermore, the best agents analyze the wants and needs of a home buyer/tenant and provide valuable input as to the kinds of properties available to them within their budget. Therefore, a good real estate agent will not just present a list of available properties to the buyer/tenant but will actually discuss their needs and make suggestions.

The good real estate agent, working in this manner benefits in at least two ways. . .

First and most obviously, when the real estate agent is able to successfully complete the transaction the commission is earned and the real estate agent is paid. . .

and secondly, if they make the customer/client happy they earn a good reputation and often receive referrals (hence more business).

Worth Noting. . .

It is worth noting that there is a myth floating around that real estate agents only work on behalf of the seller, buyer beware.

This is not written in stone nor is it always the case. Real estate agents are, in most regions, highly regulated.

With few exceptions, real estate agents work either for the seller (as is the case with many listing agents) or for the buyer (as is the case for a buyer’s agent).

Additionally, some areas allow for dual agency where an agent can work for both the seller and the buyer or as a transaction broker where the agent represents the transaction itself and neither the seller nor buyer individually.

However, in the case of dual agency/transaction brokerage, note that rule, regulation (law) and ethics do not permit the agent to act in favor of either party while in detriment to the other.

If you are unsure of the relationship between you and your real estate agent, do not hesitate to ask.

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May 3, 2010

Top Real Estate Agents

Filed under: Uncategorized — Tags: Agents, Estate, Real — admin @ 8:53 pm

The Real Estate sector has grown immensely over the past few years. With the revenues ranging from twelve million dollars it stands at an estimated growth rate of thirty percent. Further to elaborate the Real Estate sector stands at the second position in the Indian Economy today. With such huge figures and promising sector the Real Estate sector today invites and attracts many of the professionals who either hold expertise in the Real Estate sector or the young professional who would seek an opportunity to grow in the Real Estate sector. Like every other sector the Real estate sector today attracts many professionals as it promises high growth rate and prominent figures. Hence we find various key players in the Real Estate market today. To recall some of the key players are Real Estate Agents, Real Estate Brokers, property Brokers, Real Estate Consultants, Property Agents, Property Consultants, Real estate Retail, Property Retails, Property Experts, Real Estate Experts and among all those professionals that specialize in the property sector and help in the growth and strengthening of the Real Estate sector. Among all, the one key player that plays the most important role and also maintains the regular updates in the field of Real Estate sector are the Real Estate Agents.

Finding these agents today at every nook and corner of the road to satisfy the increasing demand of the property in the market, these Real Estate Agents are an essential part of the Real Estate sector. The key role as discussed in the previous paragraph of these Real Estate agents are to help the clients in any investments that are planned or are made in the property sector. It is ole their responsibility while they accept the client that they ensure the smooth and easy transaction of property either while purchasing or while selling of the property in the due course of time. Being a part of the Real Estate sector the Real Estate agents are like the basic units of the Real Estate sector like the cell to the living identity. The Real Estate industry offers many services to the clients and so does these Real Estate Agents. The Real Estate agent may tie up with various aligned industries like Architecture, Manufacturers, Builders, Interior Designer and other who can help the property to be customized in order to create a demand and also increase the churn of the property. They would serve from the sale purchase to the agreements and also customization of the property for the client. To conclude one can say that the Real Estate Agents are a bless to not only the Real Estate Sector but also to the clients, with their expertise they help both to gain profits with the self motive to run their lives and earn break and butter. To keep in mind, as suggested always it is an important part for the client to gain certain expertise from the news, articles and various other sources available to them in order to make the transaction error free and smooth in the course of time.

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May 1, 2010

marketing for real estate agents

Filed under: Uncategorized — Tags: Agents, Estate, marketing, Real — admin @ 8:48 am

Marketing For Real Estate Agents: 6 Easy Steps To Do Competent Marketing For Real Estate Agents

A lot of professionals consider that marketing for real estate agents is just about looking for clients, advertising, sites, brochures or newsletters.

There are lots of “marketing” activities that result simply inefficient, time wasting and really demoralizing. Competent marketing for real estate agents is an ongoing activity defined by a number of steps.

It is necessary that you see what true marketing for real estate agents is about; you will be amazed to witness how in 6 simple steps you create a winning strategy for your agency, one that will enhance your commercial image and propel your success.

1. Establish Aims
Effective marketing for real estate agents is achieved by recognizing where you are and where you wish your agency to go. Detailed objectives present what you desire and how to get it. These should be founded on what you visualize yourself doing, possessing and being. Question yourself regarding what you want in terms of job, lifestyle and income.

Your goals have to be SMART: Specific, Measurable, Achievable, Realistic and Timely.

2. Specify Your Main Clients
You have to define, plan and target a specific group of individuals showing similar characteristics. You have to exhaustively know who your possible buyers are in order to understand why they would accept your service.

True marketing for real estate agents is about holding sincere conversations with buyers about who you are and what you offer and building mutual faith and deference. To achieve this, you have to know every detail about the individuals behind a potential sale. Just then, you are able to deliver the accurate offering to possible buyers.

3. Create a Selling Message
You have to distinguish yourself from the competitors within your arena by means of pluses, abilities and life experiences that are meaningful for your customers.

4. Train your customers
Good marketing for real estate agents lets you see that it is an ongoing training process. You have to deserve the buyer’s confidence and educate him on the facts in order to make him lastly acquire a property from you. Buyers first realize they can buy a property, then, they proceed to get facts, next they asses the different options they possess and lastly, they take action. You must recognize in which phase your buyer is in order to either begin from zero, clarify wrong ideas and get over objections or go for the sale.

5. Establish a Recommendation Scheme
Recommendations are essential in marketing for real estate agents, because these are the simplest way to get steady buyers. Tell your buyers that you expect recommendations and what sort you want. The more you remain fresh in your buyers’ minds, the more chances you possess of them talking to others about you.

6. Define a Monthly Selling Plan
Based on the five preceding points, enforce genuine marketing for real estate agents with a detailed plan.

Write your monthly objective in terms of potential clients, income or any other meaningful condition. Establish a weekly action program with events you will go to, individuals you will contact, meet or send information to, call on former buyers and writing articles.

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April 7, 2010

Myths About Real Estate Agents

Filed under: Uncategorized — Tags: About, Agents, Estate, Myths, Real — admin @ 3:56 pm

There are some myths about real estate agents, many of which are not so flattering. But when it comes down to it, real estate agents are not too out there, and there is a logical explanation to each misconception. Let’s straighten out a couple myths and facts.

Myth #1: They have big hair.

Fact: Though occasionally real estate agents do have big hair, most are regular people who get up in the morning just like you do, and go to work just like you do. Many real estate agents, in fact, are going bald due to stress related hair loss. Same with the fancy dagger-shaped manicures; in actuality, many real estate agents have bitten their nails down to nubs.

Myth #2: Real Estate Agents drive luxury cars while talking on their cell phones.

Fact: Itâ??s true that real estate agents are often trying to do too many things at once, but they like to be careful about it. And though real estate agents would like to make a good impression on you, more often than not they drive Hondas and Toyotas and hope that their hard work will sell you, not their Lexus.

Myth #3: Real Estate Agents know your area.

Fact: Just like normal people, real estate agents canâ??t know everything. Though they do spend a lot of time driving around town, they canâ??t be in all places at once, and they themselves probably have preferences for one neighborhood versus another. Make it clear to your realtor what kind of area you want to live in, and they can help you look within that section of town.

Myth #4: Real Estate Agents live outside of time.

Fact: Real estate agents have lives too, and those lives happen to take place in the same physical realm as yours does. While it might seem like they spend a strangely disproportionate chunk of time speaking with you, they are actually trying to be as time-conscious as possible, so that you can move more quickly into your home and they can move more quickly to helping their next client.

Myth #5: Real Estate Agents just want your money.

Fact: What real estate agents actually want is an easy life. They want to help you find a home you love, and they want to make their (often small) bit of commission off of it (and thatâ??s off the sale, not out of your pocket). They do not want your soul or your firstborn, just some patience, consideration, and a positive home-buying experience for all.

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