Real Estate Listings

Expired Real Estate Listings have been the near exclusive domain of real estate agents for as long as I can remember. Top producing agents know that expireds don't require a lot of effort to get, yet yield a high return on their time and money invested in marketing them. And all you have to do to find them is log into your MLS system, enter the dates that you're interested in and presto - there they are.

But the days of exclusivity may be drawing to a close, as buyers and investors are competing for those same expireds. They too are starting to realize that expireds offer special opportunities for them as well, but instead of listings they get to bid on properties that are all of a sudden off the market and may be reduced by at least the cost of the real estate listing fee, which is no longer in effect because it expired, too.

But buyers and sellers are at a distinct disadvantage when it comes to expired listings- they don't have easy access to the MLS system. They can't just log into the MLS system - they don't have access to it.

Instead, they have to be a little more innovative. Some sign Buyer Broker Agreements, whereby they hire and pay agents to help them buy real estate. And since the agents will get paid by the buyer they can then expand the properties shown to their prospective buyers to include expired real estate listings, fsbos and even properties that are actively listed in MLS systems.

Suddenly, buying options for buyers and investors expand threefold. Agents are now free to show them almost any property on the market and the Buyer Broker contract ensures that they'll get paid.

The concept is a little unorthodox, and is not utilized by many, but those that do know about it are finding that there are more buying options than they would otherwise have.

My first Buyer Broker experience was as an agent and it was a wonderful experience. At the time I was struggling to pay gas to usher clients around town to look at houses, only to have them walk away without buying anything, or go on to another agent and buy something.

And what was so good about it is that I got a pretty sizeable non-refundable retainer fee, so if they had walked away I would have felt adequately compensated for the time spent with them. But I didn't have to worry about that because they ended up buying a home and I got a full fee for my services.

So, listen up buyers and investors. If you're looking for a great deal you might want to seriously retaining an agent to search expired real estate listings for you, which can in some instances be as good as buying foreclosures. Sellers are pretty motivated to get their properties sold and are likely to be very happy to work with your agent to negotiate a sale.

And for you agents out there, a Buyer Broker contract to find expireds can open up a new channel of possibilities. So, what are you waiting on?

Real Estate Brokers and Real Estate Agents

Real estate brokers and real estate agents are two different things. An agent provides their services, independently, to a broker for a fee. A real estate broker sells property owned by others, and may offer management services. Most real estate brokers deal in residential property, but some deal with industrial, commercial and agricultural. The real estate brokers who deal in the latter are often times employed by specialized firms or larger corporations. A real estate broker encompasses many area of property purchasing and has to be extremely knowledgeable. It is the responsibility of a real estate broker to be proficient in the laws governing real estate purchasing in the market they are working in, as well as, financing options. Additionally, a real estate broker handles title searches for properties, and general marketing.

Both real restate brokers and agents have similar job duties. They both obtain listings of properties and do research about the current market to determine the market price for a property and decide what the property needs to be listed at, if they are working for a seller, or if a property has a favorable listing price, if they are working for a buyer. In the case of rental property, both real estate brokers and agents have to be familiar with the region's functionality. A property's accessibility to transportation, they utilities available, and the job market all tie into whether a rental property will be more favorable to a buyer, or seller. The major differences between a real estate broker and an agent is license requirements and client interaction.

In the way of licensing, a real estate broker is required to have obtained a high school diploma, be at least 18 years of age, and pass a written examination. The thoroughly comprehensive test covers basic real estate laws and transactions. Additionally, a real estate broker is required to have 60-90 hours of in-field training as well as a length of time actually selling real estate. This time varies between 1 and 3 years. However, sometimes states will waive the experience length needed if an applicant has obtained a Bachelor's degree in real estate, as well as completed the other licensing requirements.

As for client interaction, it is generally an agent, not a real estate broker, which handles meetings with buyers and sellers. An agent will assess a client's needs, their budget (or desired property listing) and handle filling out contracts. It is also the job of an agent, to present potential properties (or buyers) to the client. An agent also handles negotiations between two parties. So a real estate agent is more the face of a real estate transaction, while a real estate broker is the wheels and gauges.

While the current real estate market is welcoming to real estate brokers, and agents alike, the job outlook for these positions is unstable. Since both jobs depends upon the economy of the nation, and the production of the population, it can be a risky career choice for some.