how much does a real estate agent earn

How Much Does a Real Estate Agent Earn?

Surely the curiosity arises in you to know if a real estate agent really wins well, if the sector is profitable and if it allows you to work in your time.

The profession of real estate agent, like any other, requires discipline, effort, dedication; monitoring and that you devote the indispensable time to see results. It should be noted that the real estate sector is quite profitable, but as a real estate agent to be a profited professional you must dedicate a large part of your time to carry out a customer tracking strategy, sales process, requirements analysis process, monitoring of calls, customer visits, negotiation processes and a closing sale.

It is very common to hear about rotation and the fear of many people entering this sector because there is no fixed salary, but the main mistake is the lack of customer follow-up and obtaining an exclusive in the process of Management of the purchase or sale of a property.

Without a doubt, the real estate sector is a great opportunity for you to work independently and earn extra income by charging a commission to your client once the management process of which you offer your services is finished. But for this you must consider the variables that exist around it, selling or buying a client’s property can be practically as fast or as slow as you want. The common denominator of hours invested for the purchase or sale of a home is 85 hours, this amount of time you can go in just 2 weeks, 2 months or up to 2 years, everything will depend on your efficiency as a professional.

And then how much does a real estate agent earn?

How much do real estate agents make? – According to the average scale in the United States, a real estate agent earns $104 thousand dollars a year, taking into account that the average cost of a home is $300 thousand dollars and that the commission is about 2.5% for each part of the transaction. In this case, a real estate agent in that country sells 12 properties on average per year, that is, one per month.

In Latin America the economy and reality is different and does not apply equally. In Mexico, selling 12 properties per year, estimating that its average value is 1 million 200 thousand pesos, results in an estimated commission of $32,000.00 per operation, if at the same time you collect and sell the property exclusively, you will take around $60,000.00 per month, before taxes and expenses. Now if we divide that $32,000.00 into 40 hours of work, that is 160 per month, it results in $200.00 per hour of work.

Remember that in the real estate sector and in any professional sector, time is money and the secret of making this profession something profitable, is to allocate the time and indispensable follow-up to each operation, adding to an excellent sales strategy and extensive experience in customer treatment; the above will make you one of the best real estate agents.

Selling Your Home in Chicago

6 Keys to Selling Your Home in Chicago Quickly and Effectively

Selling a property in Chicago in Chicago is not a simple task, you must keep in mind several factors that affect the sale is fast, safe, effective and in the shortest possible time.

1. The Price is Important!

One of the key points to sell a property in Chicago is the price, remember that the fairer and closer its value is, the greater your chances of negotiating it. It is recommended that you do an analysis of the sector and the behavior of the value of the price of the square meter.

2. Seek Professional Help

When buying, selling or leasing a property in Chicago it is necessary to have an expert helping hand in real estate issues to achieve a successful business.

An agent will be the person who carries out the transaction of the house, but it will also guide you in all legal, tax and paperwork matters. If you are selling or leasing, this will be the person in charge of marketing and advertising the property in Chicago. In addition, it will offer you a broad portfolio of professional services.

3. Make It More Attractive

There is no doubt that ‘everything enters through the eyes’, therefore, having a property in Chicago that is well arranged, clean, without structural damage, freshly painted and with modern finishes, will take all the looks of potential customers.

4. The Legal Part Up To Date

 A very important issue to do as a seller is to have all the documentation up to date , this includes: the certificate of freedom of the property in Chicago, the deeds of the property in Chicago, that the property in Chicago has all public services and that these are up to date in your payment , that the house if it is located in a residential complex does not have debts in the administration and that the taxes (property in Chicago and valuation) are canceled to date.

Resorting to a real estate is a good option; they will advise you in the legal part, they will help you with issues such as: contracts, clauses, register the sale and that you do not have future problems when selling your property in Chicago.

5. Be Patient When Displaying The Property in Chicago

 It is clear that to sell a property in Chicago requires effort, one of them is to dedicate time to receive calls and schedule visits to the house, even a weekend, remember that buyers can appear at any time and be available can help you Close a fast business.

6. Internet, An Excellent Alternative

 The ease, comfort and speed offered by real estate portals have generated an interesting market of potential buyers for your property in Chicago. Therefore, keep in mind the advice gives you if you are thinking of selling a property in Chicago:

 • Information quality: The Internet is a means that will allow you to present the greatest detail and, in particular, tell the interested parties all the reasons why the property in Chicago that you publish is special.

This includes the price: rely on an expert in the sector to define the price or conduct a market survey. This will allow you to define a competitive price and especially a realistic price on your property in Chicago and the market situation in which it is located.

• Quality in the photographs: it seeks to make the decoration of the spaces as personal as possible, avoid spaces full of furniture or tables with many objects on them. Take photos of all the spaces of the house and publish them in a logical order of travel.

 • Customer service:  you must be aware of the calls and contacts you will receive from people interested in the property in Chicago; the speed of response is the key and expected by the users who will contact you by this means. A reasonable average wait for response is 4 hours in this medium.

If you have a property in Chicago and are thinking of selling it, gives you the best advice on Chicago Zoning Certification, Chicago Water Certification, Chicago Water Lien Release and Chicago Exempt Deed Recording.

What to do with Housing in Case of Divorce or Separation

In a separation or divorce procedure, one of the issues that costs the most to regulate and that causes the most problems is housing. When the use and payment of the property has been shared during the marriage, it is necessary to correctly and legally regulate what will happen to the family home. It doesn’t matter if we are talking about a friendly divorce, or if it comes with litigation. The most important decision is to determine if one of the parties stays with the house or if it is sold. Whatever the outcome of the negotiation, everything has to be embodied in a regulatory agreement to avoid future problems. Here are some tips on what to do with housing in case of divorce or separation.

It is decided to sell the house

When the former spouses reach an agreement to sell the homes, it must be taken into account that each one will have to declare the sale in the IRPF. The real estate operation can provide an economic gain, which is stipulated by calculating the difference between the value at which the house is sold and the value at which it was purchased, according to the year in which the property was acquired.

Both parties will pay taxes based on the proportion in which they are owners. Earnings of up to 6,000 USD are taxed by 19%, and the percentage rises to 21% between 6,000 and up to 50,000 USD, and 23% from 50,000 USD.

If, on the contrary, the sale of the property throws losses, they must also be declared as compensation can be obtained in the same income statement.

If the former spouses want to reinvest the money from the sale in buying a new habitual residence, they can also deduct the taxation on the part of the profit that is destined to the new purchase. And some of the parties are over 65 years old, neither will they have to pay taxes for the profit they get when selling the house, nor are they obliged to reinvest the money in the purchase of a new home.

The house is for sale but there are no buyers

The process of buying and selling a property can be long and complicated; much more if several parties in conflict are involved. It is quite common for the house in case of divorce to take time to sell, and in the meantime we must continue to take care of everything. The co-owners are obliged to continue paying the expenses generated by the home and include it in the personal income tax, based on the percentage of participation they have in the house.

If, after the separation, neither party follows housing, they will have to impute real estate income. In case one of them does reside in the house, only the former spouse who no longer lives there will have to do so.

Mortgage payment

If the house is gain, the mortgage payment is the responsibility of both parties equally, at 50%. The quotas will continue facing the same as when the couple resided in the property, until the company of liquidators is liquidated.

The house is put on rent

One of the options that customers are demanding the most for their home in case of divorce or separation in the rental of the marriage home. It is a very good investment, since the lease offers a high return and allows covering the expenses while the ex-couple decides what to do with the property. When the house is rented, both parties can enjoy a 60% reduction on the net rental yield. Of course, for this you must declare the lease in the declaration of income as a return on real estate capital.

Whatever the decision made by the former couple with the house in case of divorce, if selling or renting, the most advisable thing is to go to an experienced real estate consultant, to carry out the process with legal guarantees and total tranquility. In addition, the real estate agency can handle the sale or lease of the home. We offer you a comprehensive advisory service so that the management of the couple’s assets does not involve any extra problems. Contact us and tell us your case.

Find more details here:

We Buy Jersey Shore Houses LLC

What to Do With Your Inherited House

It is common for many people to receive property as inheritance. However, it must be borne in mind that once the family member dies, the property is not immediately transferred to the heirs, but it is necessary to carry out a series of preliminary procedures before the figure of a notary. Here the question arises, how to sell an inherited house?

The procedures can be somewhat cumbersome, which is why many heirs choose to reject the legacy. But, if in your case you decided to accept it and take charge, it is crucial that you know about the existence of some payments that must be made such as inheritance tax or municipal capital gain, this as a way to avoid future economic and legal scares. If what you have in mind is to sell an inherited house, we give you some tips so that nothing is overlooked.

Requirements to sell an inherited house

Taking charge of an inherited home has its tricks, but do not worry that next we will give you some lights to understand all the aspects that come into play in this scenario.

Before thinking about selling an inherited house, it is necessary that you are its legal owner in the eyes of the Property Registry, a procedure that can be done depending on the nature of the inheritance, for example, it could be a inheritance with a will, an agreement in the distribution of assets between the number of heirs or some legal procedure when there is a disagreement between the beneficiaries. Regardless of the case, you must present the death certificate and the last will certificate of the deceased, to know if there is a will and where you can locate it.

Taxes before selling a house in inheritance

It is time to cancel some taxes. First, there is the Inheritance Tax whose value may vary depending on the autonomous community. In this sense, each heir has the responsibility to pay his in a recommended period of six months, if he cannot do so at that time, it may be extended, provided that a previous request is made.

Secondly, there is the payment of the Capital Gains Tax or Tax on the Increase in the Value of Urban Nature Land, which is paid on the increase in the cadastral value of the land. The calculation of this increase is made by comparing how much the price has increased from the first purchase to the moment in which the transmission is carried out by inheritance.

In the same way it is important that the inherited house be reflected in the declaration of income as imputed income, in case you plan to keep the property owned. In the event that you have decided to sell it, in your personal income tax, you must only declare the profit you have obtained in the sale. In this way, you are not obliged to declare anything regarding inheritance, since this transfer does not pay in the IRPF, but does so in the Inheritance Tax.

With regard to taxes you must be very attentive, since there are decisive details that sometimes are often ignored or go under the table. Taxes on the sale of an inherited home must be paid in the territory where the deceased had the habitual residence, regardless of the location of the property. This is an important aspect because depending on the autonomous community where they are settled, taxes can be up to a thousand times higher in one place than in another.

Anyway, you must be clear that before making the payment of any of these taxes, it is necessary to make an appraisal of the house. This step can be activated before the Ministry of Economy and Finance of the corresponding autonomous community so that this administration is responsible for deciding the value of the property left in inheritance by the deceased.

After this you must contact an appointment with the notary to, when the time comes, be able to sign the deed of adjudication of the inheritance. At this point it is very important that you have at hand the deeds of the house so that you can be credited as the new owner of the same, then you can make the change of ownership of the property.

If you want the statement to be more favorable we recommend you follow some legal “tricks”. For example, the sale price can be subtracted from all the expenses derived from the operation that you can justify before the Treasury. To the acquisition price you can add all the expenses derived from the operation that you can justify, for example, the taxes that you have had to cancel.

We recommend you read our post about expenses when selling a house. Also, tell you that if you are looking to sell your home in the fastest and easiest way, even with an inheritance, here is a solution. We are not a real estate agency, we work differently and we explain how the process to sell your house with us works.

Is there a stipulated time to sell an inherited house?

From the legal point of view there is no time limit to be able to sell an inherited house, since once you become the owner you will have the right to sell it when you require it, however, there is something that does influence and is the profitability that you can get to the property during the time between the inheritance and the sale of the home.

There are ways to avoid tax surcharges, for example, by canceling the taxes of the sale of the inherited house within a maximum period of six months after the death of the original owner.

Also, from the perspective of the municipal capital gain, it happens that, when selling an inherited house a year after registering the home in the name of the heir, the payment of this tax will have to be made again.

For this reason, many experts in the real estate area recommend that, if the goal is to sell the inherited property, the operation is carried out within a year after the award and registration of the same, this as an alternative to avoid assuming a payment additional not within the personal budget.

Keep in mind that the faster you take care of fixing each of the procedures to sell your house, you will have a green light to sell it. Don’t let the process, which we understand is usually overwhelming in some cases; prevent you from selling an inherited house. If what you want is to sell it as soon as possible and without going through this process, call or write us without obligation. We offer you a serious and fast offer.

Find more here: We Buy Jersey Shore Houses LLC

Prestige Finsbury Park Floor Plans

Finsbury – Starting the Search for the House of Your Dreams? Here are 5 Tips!

In the current real estate market, the low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time buyer if you’re not prepared. In a article titled “How to Find Your Dream Home — Without Losing Your Mind” ) The author highlights the steps that first-time homebuyers can take to help follow their enthusiasm throughout the process.

1. Get a preapproval for a mortgage before starting your search

One way to show that you are serious about buying your dream home is to obtain a prequalification or preapproval for a mortgage before starting your search. Even if you are not in a market that is so competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

This step will also help you refine your search based on your budget and will not leave you disappointed if the house you see, and likes, ends up being out of your budget!

2. Know the difference between what ‘essential’ and what ‘you would like to have’

Do you really need that farm-style sink in the kitchen to be happy with your home choice? Would a garage for two cars be a convenience or a necessity? Can ‘the cave for man’ of your dreams be a renewal project for the future instead of being decisive at this time?

Before you begin your search, list all the characteristics of the house you would like and rate them as “indispensable you have ‘,’ must have ‘, or ‘ absolute wish list ‘ . This will help you stay focused on what is most important.

3. Research and choose a neighborhood where you want to live

Each neighborhood has its own charm. Before committing to a house based exclusively on the house, the article suggests experiencing the area. Make sure the area meets your needs for “services, transportation, school district, etc. And then spend a weekend exploring before committing. ”

4. Choose a style of the house that you like and keep it

Evaluate your family’s needs and establish a home style that best meets those needs. Just because you have reduced your search to a zip code, it does not mean that you need to visit all homes for sale in that zip code.

For example, the article says, “ If you have several younger children and do not want your bedroom on a different level, stay away from Cape Cod houses, which typically has two or more bedrooms on the upper level and the master bedroom. On the first floor. “

5. Document your home visits

Once you start visiting the houses, the characteristics of each home will begin to blur together. The article suggests keeping the camera at hand and documenting what you like and what you don’t like from home ownership you visit.

Taking notes on the sheet of the house for sale when touring the property will also help you remember what the photos mean, or what you were feeling while touring the house.

In conclusion,

In a competitive, high-speed environment, any advantage you can give yourself will help you on your way to buying your dream home.

For more details please visit: Prestige Finsbury Park Floor Plans