Why Do We Need a Real Estate Broker Anyway & The 3 Golden Rules for Successful Investing  - Post 5+6
Channel: Nadlan - Real Estate Investors - השקעות נדלן ארהב
Date: 20/08/2021

Why Do We Need a Real Estate Broker Anyway & The 3 Golden Rules for Successful Investing  - Rinat Reuveni Lerner - Entrepreneur of the Week - Post 5+6

#EntrepreneuroftheWeek #RealEstate #Flips #BuyAndHold #BRRRR #Mortgage #Investors #RiskManagement #NewConstruction #Ausin #Texas

What to do, we have to admit, in our eyes, the Israelis, a realtor is the one who makes you happy for exclusivity, shows the house, takes a commission and disappears - it may be that many realtors honestly earned the degree, but as in many professions, there are the very good and there are those, " You make a bad name for the profession. ”
Many Israeli customers and investors are shocked when I describe to them the process of buying a property in Texas (I emphasize 'Texas' and not the United States because the US brokerage license is per state), it is so much simpler than in Israel, and also safer and faster - and for the whole business This one here wins… you guessed it… the realtor! (Sound of trumpets).
There is a big difference between the "job definition" of an Israeli and an American broker.
The broker here has a great responsibility towards his client, the accompaniment is throughout the process. He is responsible for locating and finding the property, visiting the property, filming a video or live video, issuing Comps (rental prices and sales in the area), drafting the contract (in Texas you do not need an attorney to buy a real estate property), signing, bidding, Negotiations with the other broker, improving the offer if necessary, coordinating and managing the inspection (home inspection), negotiating with the sellers on the findings, help financing the project with the lenders, types of mortgages, help with the title company… On each of these issues you can write an entire post .
And if all goes well (no onion) - managing the closing where money is transferred and the property is registered in the title in the name of the buyers.
Only (!) At this point the broker actually receives his commission from the seller - that is, the investor (buyer) does not pay his broker anything. Nothing.
There are very rare cases where the seller is not willing to pay a commission to the agent and it will usually be known very early in the transaction stages - then, there will be cases where the broker will ask his commission from the buyer (it has not happened to me, tap, tap ..) but again, all parties knew it In advance and there is full transparency as to who pays to whom and how much.

All of the above are different in commercial (commercial) transactions - a different type of specialization… for another post…
The role of the realtor is to find you a property that suits you, your needs, your goals, no matter how much effort it will require. A good broker will also tell you what not to buy and what to stay away from - and I have already seen deals that exploded two days before closing because there was no proper disclosure or "new details" were discovered.
Every broker must be connected to a real estate broker, the broker is in fact the body that takes responsibility for the broker's activities, insures him and also shares a commission with him. It is very important to ask the broker who his broker is and whether there is a serious company behind it because when things get complicated (and veteran forum readers know this well) you want a strong body with experience on your side and not someone who will disappear.

Continue reading on our site:
Post 5:
https://en.forumnadlanusa.com/2021/08/so-why-do-i-even-need-a-mediator-rinat-reuveni-lerner/

Post 6:
https://en.forumnadlanusa.com/2021/08/my-three-golden-rules-and-where-should-one-invest-who-wants-a-better-future-rinat-reuveni-lerner/

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