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Easing Your Way Into Homeownership: How Your Real Estate Agent Can Help You Qualify For A Low Down Payment Mortgage By: W. Troy Swezey: For many renters, the first step in buying a home is becoming educated about the process. If you’re like many people ... in order to be considered. With some programs, for example, you must attend an educational seminar before you can be c... Joint Ventures In Real Estate Development; So How Do They Work? By: Colm Dillon: There are many reasons why you would consider joining with another person to undertake a development project in Joint... profit, your share will be $100,000 less. Got It?Now let's say that part of your skills contribution to the JV includes... The Quantity Surveyor & Real Estate Development By: Colm Dillon: Those of you who are new to the real estate development business, need to understand what each Design professional con... quantity surveyor/contract administrator will have prepared claims for progress payments and additional work.When const... Profitable Real Estate Investing Blueprint By: Lothar: Just like most things real estate investing can be broken down into easy to learn step. Step One - Learn the basics: ... deeds, options, leases and rental agreements. Many of those documents have been recorded in your county and you can see... Real Estate By: Chris Anderson: YEEHAW!!!!!! The south will rise again!! Can't you just imagine the Dukes of Hazard boys sitting on the hood of thei... want real estate investing to be a major factor in your financial future, learn what the boomers want and then buy in f... How to Become a Real Estate Agent Andre McFayden, Ph.D.The process of becoming a real estate agent is fairly simple, although it does vary a lot from state to state. Here are the fundamentals of becoming a real estate agent. a) License Requirements Each state has different licensing laws, so you will need to look at your local requirements. However, in general you will have to: -Meet an age requirement -Pass a background check -Complete approved real estate courses from a state-approved school -Pass a state exam -Complete an application form -Submit various fees Agents just getting their license work for a real estate broker. If you decide at some point to work for yourself, you will need to earn a broker license. Most new agents sign on with one of the large company brokerages. Most successful agents, even if not self-employed, treat the real estate profession as their own business, instead of just a job. This attitude will go a long way to ensuring your success. b) What is a REALTOR®? Many people are confused about the difference between a real estate agent and a REALTOR®. A real estate agent becomes a REALTOR® when he or she pays an annual fee to the National Association of REALTORS® and subscribes to its Code of Ethics. The agent joins through the local (city) board or association. Membership in the REALTORS® is optional, but help enhance your career. c) How much can a real estate agent earn? Real estate agents more often than not are paid on commission. This commission is a percent of the selling price of the property. The seller will generally pay 4-6% of the sales price as the fee for having an agent handle the complex job of selling their property. The funds will often be split equally between the seller's broker and broker who finds the buyer. As an example, if the fee for a $300,000 property is 6%, the buyer's broker will be paid 3% or $9000 and the seller's broker will also be paid 3% or $9000. The agent is paid by his or her broker, using their agreed-upon commission split. This is often 50-50 for new agents, so in that case the agent in our example would be paid $4500. So to answer the question, the amount that a real estate agent can earn is only limited by the number of transactions that he or she can close. Visit Real-Estate-Career-Info.com for requirements for obtaining a real estate license in your state. This article may be reprinted if proper credit is given and all links left intact. Copyright©2005 Real-Estate-Career-Info.com About the Author Andre McFayden, Ph.D., is a Real Estate Broker and contributor to Real-Estate-Career-Info.com. 
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