Real Estate

So far in USA , only real estate agents, which are members of NAR (National Association of Realtors)  have got  the right of naming themselves Realtors. Of course many other licensed practicants  in real estate business may introduce  themselves as Realtors, but the truth is, they are only using this term to impress the public’s opinion about their whole activity as real estate agents, and they hope gathering  as many clients as possible, so that the entire real estate business should keep going on. In this case they are kind of “fake Realtors”, because this title, of realtor is very hard to be obtained.

Realtors, belonging to NAR , are diplomatically obliged to use and respect an entire  list of  rules regarding ethics. Before any real estate agent becomes a realtor, that is a member of NAR, he has to sign a legal document in which he promises that during any real estate transaction, he will remain honest and loyal, not only to his clients, but to his colleagues as well.

Any realtor, during the negotiations process, has the right to represent either the buyer’s or seller’s interests for  a real estate  property. As the ethics code demands it, he  has  to protect his client’s interests at any time but he also has to act legally and pay respect to the other side as well. These objectives  can be accomplished  using a diplomatic and professional real estate negotiation process, without exaggeration or false statements of  true facts. All closed real estate negotiations must be transparent ,as Realtors ethics code demands it.

Realtors knowledge in real estate business is pure gold, because they know precisely how the entire process works, what real estate auctions are interested in promoting, how to deal with legal formalities in a real estate transaction, and what is best for their client. Realtors also have the ability to evaluate a real estate property value, and they always monitor the real estate market place and know exactly, when the perfect moment for selling or buying a property arrives.

Finding a realtor is not a complicated objective anymore, because of the Internet’s great expansion. Specialized real estate websites, generally have real estate properties listings, and also list with Realtors in a certain area.

NAR(National Association of Realtors )  is one of  the largest and powerful organizations existing in North America, among others, being specialized in real estate business domain. Its evolution is remarkable, as in 2006, there were approximately 1 million members inside the organization,  and today their number is still climbing, fact  which only indicates a positive evolution of this society. It seems that people need Realtors now more than ever, in order to close a perfect real estate transaction, weather is it a commercial real estate transaction, industrial real estate transaction or even a simple building transaction.

Their society contains,  as others, many specialized members ,ranging from real estate agents, brokers, economists, managers, counselors , architects etc. Moreover, you need to understand that NAR governs the other lets say “small” real estate agents, monitors the well development of any real estate business in their jurisdiction, and makes sure that not only Realtors, but real estate agents ,buyers and sellers as well , respect the ethics code. Most of the times, even experienced real estate agents, sometimes ask advice from a realtor, concerning pricing matters, or even ask opinions about a certain real estate property. Sometimes they also need a realtor to anticipate the evolution of the real estate market place, or evaluate a certain real estate property’s value.

As far as taxes are concerned, it is well known that as a real estate agent, a realtor has his fee in a real estate successful transaction, but not only, because his job, as a real estate agent is to gather information about the client’s building, evaluate the property, even participate to real estate auctions to see the new clients desires in real estates, to get a clue where the real estate investment is heading to, and finally make a plan of selling or buying what his clients want. And all these jobs must also be paid, so all in all, a realtor’s fee is not accessible for everybody.

Rob Norquist, a real estate agent admits that Newport Beach is as active as it used to be, with some good record sales. He also agrees with the fact that a real estate property, should never be considered deprecated, and as a seller, you should never give up and use the low end price. It is true that , during a certain period of time, depending on the real estate market , client’s desire, real estate auctions, there may be moments when a real estate property’s price drops, but not forever.
Other cities such as, Huntington Beach , Costa Mesa, Irvine or Mission Viejo — are considered among other 25 cities as being the ones with the best real estate property values, with average values of $680,000 and more. The national average real estate property value in 2007 was $194,300.
However, some real estate property values are based on subjective answers from residents living in a certain home, or real estate building, so the given numbers , and real estate evaluation may be hanging on a wishful thinking instead of  a real appreciation . This is where real estate auctions come in picture, to inform potential clients about the real estate property, and the investment possibilities, giving them a clear image of the real estate’s worth.
Even though some real estate buildings such as Orange County real estate properties , dropped their values in 2007, but they recovered extremely well after. So this is another reason why as a seller, or real estate agent, you should never fear if you observe a temporally value drop,b ecause it is normal from time to time.
For instance, about 81% owners, sellers, real estate agents, trusted in 2007 that their estate property values were over $1 million, against  75% in 2006. So things are for the best and it would appear that most of real estate agents have finally understood what this real estate business is really about. It takes a lot of patience and  ability to maintain your real estate property value among top ones on real estate market.
But Norquist, a very experienced real estate agent , trusts that many Newport Beach arguments are near  the mark, sustaining that this city has survived the “housing slump” better than other locations.However, the unexpected surprise attacked more on sales, which he admits that they are on a falling edge right now ,but there is still hope for better times.
Newport Beach is very well known for its  highest-valued real estate properties  in the U.S., being a perfect place for  real estate business. It’s location and proximity to the water, and the beach front view increase it’s real estate value considerably.Real estate auctions in this area are very interesting and those who are interested in real estate business domain should never miss such auctions. You can learn a lot on such events.
Experienced real estate agents or even friends  will surely advise you that as a buyer you are very likely to come across many real estate properties in foreclosure having perhaps no equity, being over priced . In such moments, lenders sometimes choose  to accept a smaller amount than the initial. So you get in the negotiations process. As a hint,when you realize the over pricing phenomenon,you have to understand that this happens when the real estate agent , or seller is aware of the real estate property’s value, and he tries his luck in a raising price. So watch out! The negotiation can become a difficult process especially when reasonable terms are not agreed by both sides:real estate agent, or owner and the buyer. Negotiations can occur privately or in public, where real estate auctions come in the picture.Of course, a real estate auction is safer and more trustful than a private one. Private negotiations occur especially when the real estate agent is a close friend or relative to buyer’s, and because of the friendly environment some details regarding even the real estate transaction may be skipped.So in situations like this be careful.Even as a friend, for a real estate agent ,money comes first,and friendship after. Of course, during a real estate property negotiation, there can be all sort of problems,such as mortgage value,real estate market,all sort of official formalities, conflict of interests in a particular area etc. Moreover, time a very important issue when real estate auctions are involved. As a general rule,and as an advise for a potential buyer, the real estate auction, or negotiation process should not be extended on a long period of time, because, as I said before,in time,real estate properties drop their values,and the client’s interest together with it.In this case ,not only does the buyer loose, but the real estate agency as well. Why?Because if a real estate property’s value drops, the price must drop as well, if you ever want to sell it again. In this case the under priced phenomenon appears. This is why short sales are preferred. Many Realtors,and clients started using this strategy, because they faced the problem regarding their real estate property’s value.So they decided the selling process should not take too long.
Another important issue refers to the well known “acceleration clause” , which is an official word met in any mortgage document, meaning that the lender , after the real estate property is sold, can demand the payment of the remaining balance for the loan.Realtors can provide more information about this contractual right. If this clause is good or bad for a real estate transaction, it is hard to say, because it has its advantages and disadvantages.Buying a real estate property which has already a mortgage loan represents a pretty raised risk.Why?Because first of all,if the mortgage loan was contracted for many years,depending on the interest’s rate, and marketplace evolution, you may come to pay the house’s price 3 times more .However, if you have experience in monitoring the market place,and find a right moment when every interest’s value drops, and real estate properties value fall, then you could go for it. It’s kind of a gambling in this real estate business, and Realtors, or individual real estate agents know it best.
Realtors and real estate agents are here on the real estate market, to help clients and real estate property owners to understand how they can value their houses, what should they look for when trying to sell or buy a house, how to negotiate, and how to win a real estate transaction.Some may say that buying or selling a real estate property is easy,but the fact is that pricing a house is a very difficult process.Many real estate agents, brokers, have suffered many defeats before their first good business, so do not expect their job to be an easy one.
Unfortunately, a concerning price and sales gains of these past years have determined in many cases  quitting the real estate business. Many real estate agents who have seen the future preferred to do something else than real estate business. The credit market is also in a critical position, as many Realtors have observed. Mortgage values are also a result of real estate market position right now. Real estate investors have diminished their participation number  to real estate auctions, as a sign they have seen it too.
However, as we all know how media does it, as a real estate owner, real estate agent , or broker, you have to understand that reporters have latched onto these issues, focusing only on its negative effects, and  they have succeeded in putting fear in anyone who is interested in real estate business.

Nowadays, people involved in real estate business, especially, real estate age