Welcome to my “Working in commercial real estate.”
The original title: how the real estate agency in the United States? More like lawyers and agents.https://www.blogger.com
The country's largest real estate agency chain suspected of the illegal home chain, which is a lot of people talk about the hot topic after dinner. Prior to this, in addition to the real estate industry for the chain mode question, everything is too peaceful until February 23, the Shanghai Consumer Protection Association's press conference exposed two cases of complaints, causing a great uproar.
In contrast, the US real estate agency has developed over the years, forming a complete set of mature, formal industry system. Being a real estate agent in the United States is not an easy task.
US real estate agency
Real estate agents in the United States is a more decent position. Data show that 90% of realtors have college degrees, and 45% have a bachelor's degree, 20% more personal assistant. The real estate market in the more prosperous years, the real estate broker income is also considerable. With years of experience and accumulation of experience, the incomes of real estate agents in the United States have also gone up. The annual salary of practitioners who have been employed for many years is even higher than that of doctors and university teachers.
Intermediaries are more like lawyers and agents
Real estate is one of the most important industries in the U.S. economy. Almost 20% of U.S. GDP is said to have been created by real estate and related industries because Americans like to relocate and prefer to change houses continuously. As a result, demand for housing is quite large, prompting the prevalence of real estate transactions.
In the United States, in general, an agency is commissioned if you want to sell your home.
After signing the commission agreement, an employee of the agency becomes your sole agent - realtor, who (she) will print this house very beautiful presentation of coated paper, which includes a variety of housing information : Address, Advantages, Area, Room Plan, Price, Local Tax, Management Fee, etc., along with your own contact details and photos.
Similarly, the buyer also need to find a real estate agent, usually to help you collect a variety of sources, to help you make an appointment to showings. Whether it is a new home or second-hand housing, the buyer and the seller are basically not directly meet by both brokers to play with each other. It can be said that 85% of real estate transactions in the United States are done through broker company services. According to conservative estimates, about 1 million people in the United States are engaged in real estate.
The buyers and sellers in China are more like intermediaries than merchants and customers, while the US clients and brokers are trusts, a bit like lawyers and their agents. Winning a buyout deal for one's own attorney is the ultimate goal of each broker because only being successful in a trading deal can bring you a good career and reputation.
A friend of mine wanted to buy a house in New York. The first time he failed to show his house, the real estate agent did not show any displeasure. During his trip back home, he did not receive extra calls to bombard the country. Instead, he managed to provide services to brokers when he felt he was in need. This made his U.S. homeownership process much more enjoyable.
Benefit from housing resource sharing system
In the 1950s, real estate brokerages in the United States were generally smaller in size, with only about four or five brokers in general, most of whom were couple stores. In order to make the scale, some companies to expand their business, the establishment of a number of branches, shop staff generally increased to 7-8 people, mutual cooperation between the beginning, sharing houses. Due to the need for such cooperation, various simple industry codes were laid down among various companies, at which time a so-called housing resource sharing system gradually emerged.
The development of the U.S. real estate market is largely due to this system.
The establishment of housing resource sharing system, first of all, increased the brokerage commission ratio. Commissions in the early years generally about 2%, because at that time brokerage firms provide fewer services, housing is relatively small. After the advent of shared systems, housing has been gradually increasing, and commission rates have also been steadily increasing, now reaching 6%.
However, in the United States, if the commercial monopoly situation is not good, the government will not give up. After the improvement of housing resource sharing system, 90% of the housing stock in the entire United States was concentrated in the hands of real estate agents to form a monopoly. In order to avoid being suppressed by the government, the national intermediary companies have reached a tacit agreement to set a fixed commission rate, that is, industry self-regulation - no matter where the real estate broker charges relatively stable commissions of about 6% or 7% Do not construct a vicious monopoly.
However, the 6% commission standard will be adjusted based on the type of property sold, with a slight difference between the states. Normally, commission rates for single-family detached houses range from 3% to 8%; commissions for large commercial real estate are lower at 3% -6%; and untapped land is as much as 6% -10%. Normally, after the broker completes the business, the real estate agent charges commissions, and brokers receive 50% -90% of the commissions. The specific proportion is determined by mutual agreement.
It should be noted that New York, housing transactions, agency fees from the seller, and both buyers and sellers can be divided into together, and their licensed companies have to take away half of them. Take the case of a set of $ 1 million apartment for sale, for example, it may be that an intermediary person has an actual amount of about $ 10,000.
A manual "buy guide"
After the establishment of housing resource sharing system, to buy a house, selling people saved a lot of trouble: because the commission was fixed, the rest of the floor to see the price itself is not appropriate, the quality of service is not satisfied with the satisfaction. In the premise of sharing houses, advertising is also sharing the sale of buildings. Every month, real estate agents categorize the buildings on hand and publish an approximately 260-page color pamphlet called "Guide for Buyers" on the supermarket exit and so on. This is the easiest way, the price is clear at a glance, we all know that the commission is 6%, so it is easy to calculate the number of loans, how much down payment.
United States showings process is also very standardized, all states, all regions have a housing resource sharing system, brokers only pay a membership fee, can be used.
When the realtor gets the house sale contract, he must enter the detailed house information into the system within three days, then place the door key in an electronic key box and hang it outside. When the buyer's broker takes the guest to view the room, according to the specific requirements of each house on the shared system, the electronic key with a designated password can be used to open the key box to remove the key. And the moment you open the key box, the seller broker will receive an e-mail to find out who looked at the room at that time. Since most of the market is second-hand housing, even if the seller is still living in the house, take the key must also make an appointment in advance, must not easily open the door.
It is worth mentioning that the first thing that the U.S. intermediary took you to see is to take you to a real estate lawyer. In the New York area, where the signing of real estate sales contracts, the transfer procedures must go through a lawyer. Both the buyer and the seller handle all the formalities by a lawyer. If the buyer needs a loan, the loan bank also sends a lawyer to participate in the transfer procedure. Allegedly, except in New York, most other states do not require lawyers to handle.
Want to be an intermediary to be investigated by the FBI
Real estate agents in the United States generally divided into brokers, sales staff, and partner brokers three categories. Brokers refer to individuals, companies, firms and the like engaged in the sale, transfer, mortgage, leasing and other services of real estate for others for the purpose of collecting service fees. The salesperson is the individual who assists the broker to serve the broker in the name of the broker. Sales staff can not practice alone, can only work with the agent. A partner broker is a broker qualified as a broker but who does not work alone and instead chooses to work as a sales clerk in the name of another broker.
In the United States, real estate brokers practitioners to implement the examination licensing system, which is the United States a most important real estate examination system, all engaged in real estate brokerage activities, brokers or legal persons have to obtain a real estate license before they can engage in business activities, the license is called "Licensed real estate agent." No license to operate is illegal, the consequences are serious.
In Texas, for example, real estate agents before the job, real estate agents to learn to complete 6 disciplines, 180 hours of classroom learning. These include Modern Real Estate, Texas Real Estate Law, Agency Law, Contract Law, Real Estate Finance, and the relevant statute issued by the contract. After the completion of the school curriculum, after 4 hours of national and regional examination pass the background investigation by the FBI, the signing of the broker company has issued a license. After more than four years of practical work before they can get broker qualification. To ensure professionalism and service quality, real estate brokers must take exams to receive further education each year, and renew their licenses every two years.
Brokers work decently
My colleague Lily wants to buy a house. The commissioned agency is a Chinese who settled in the United States after studying abroad. He was 30 when he was a graduate student at the University of Pennsylvania and was a trader at a well-known global investment bank after graduation.
In China, housing agencies do not have such a high degree of education. Asked why he was not a trader to be a real estate agent, he replied that since brokers are freer than their predecessors, income is not bad.
The other reason why the top student has changed jobs is that more and more Chinese now come to the United States to buy a home. Compared to foreigners, they are more willing to find a Chinese agency, we have the same language, similar culture, easy to communicate. Now he can make 2-3 single business every month, which, in fact, is higher than that of traders.
Real estate agents in the United States is a more decent position. Data show that 90% of realtors have college degrees, and 45% have a bachelor's degree, 20% more personal assistant. The real estate market in the more prosperous years, the real estate broker income is also considerable. With years of experience and accumulation of experience, the incomes of real estate agents in the United States have also gone up. The annual salary of practitioners who have been employed for many years is even higher than that of doctors and university teachers.
The country's largest real estate agency chain suspected of the illegal home chain, which is a lot of people talk about the hot topic after dinner. Prior to this, in addition to the real estate industry for the chain mode question, everything is too peaceful until February 23, the Shanghai Consumer Protection Association's press conference exposed two cases of complaints, causing a great uproar.
In contrast, the US real estate agency has developed over the years, forming a complete set of mature, formal industry system. Being a real estate agent in the United States is not an easy task.
US real estate agency
Real estate agents in the United States is a more decent position. Data show that 90% of realtors have college degrees, and 45% have a bachelor's degree, 20% more personal assistant. The real estate market in the more prosperous years, the real estate broker income is also considerable. With years of experience and accumulation of experience, the incomes of real estate agents in the United States have also gone up. The annual salary of practitioners who have been employed for many years is even higher than that of doctors and university teachers.
Intermediaries are more like lawyers and agents
Real estate is one of the most important industries in the U.S. economy. Almost 20% of U.S. GDP is said to have been created by real estate and related industries because Americans like to relocate and prefer to change houses continuously. As a result, demand for housing is quite large, prompting the prevalence of real estate transactions.
In the United States, in general, an agency is commissioned if you want to sell your home.
After signing the commission agreement, an employee of the agency becomes your sole agent - realtor, who (she) will print this house very beautiful presentation of coated paper, which includes a variety of housing information : Address, Advantages, Area, Room Plan, Price, Local Tax, Management Fee, etc., along with your own contact details and photos.
Similarly, the buyer also need to find a real estate agent, usually to help you collect a variety of sources, to help you make an appointment to showings. Whether it is a new home or second-hand housing, the buyer and the seller are basically not directly meet by both brokers to play with each other. It can be said that 85% of real estate transactions in the United States are done through broker company services. According to conservative estimates, about 1 million people in the United States are engaged in real estate.
The buyers and sellers in China are more like intermediaries than merchants and customers, while the US clients and brokers are trusts, a bit like lawyers and their agents. Winning a buyout deal for one's own attorney is the ultimate goal of each broker because only being successful in a trading deal can bring you a good career and reputation.
A friend of mine wanted to buy a house in New York. The first time he failed to show his house, the real estate agent did not show any displeasure. During his trip back home, he did not receive extra calls to bombard the country. Instead, he managed to provide services to brokers when he felt he was in need. This made his U.S. homeownership process much more enjoyable.
Benefit from housing resource sharing system
In the 1950s, real estate brokerages in the United States were generally smaller in size, with only about four or five brokers in general, most of whom were couple stores. In order to make the scale, some companies to expand their business, the establishment of a number of branches, shop staff generally increased to 7-8 people, mutual cooperation between the beginning, sharing houses. Due to the need for such cooperation, various simple industry codes were laid down among various companies, at which time a so-called housing resource sharing system gradually emerged.
The development of the U.S. real estate market is largely due to this system.
The establishment of housing resource sharing system, first of all, increased the brokerage commission ratio. Commissions in the early years generally about 2%, because at that time brokerage firms provide fewer services, housing is relatively small. After the advent of shared systems, housing has been gradually increasing, and commission rates have also been steadily increasing, now reaching 6%.
However, in the United States, if the commercial monopoly situation is not good, the government will not give up. After the improvement of housing resource sharing system, 90% of the housing stock in the entire United States was concentrated in the hands of real estate agents to form a monopoly. In order to avoid being suppressed by the government, the national intermediary companies have reached a tacit agreement to set a fixed commission rate, that is, industry self-regulation - no matter where the real estate broker charges relatively stable commissions of about 6% or 7% Do not construct a vicious monopoly.
However, the 6% commission standard will be adjusted based on the type of property sold, with a slight difference between the states. Normally, commission rates for single-family detached houses range from 3% to 8%; commissions for large commercial real estate are lower at 3% -6%; and untapped land is as much as 6% -10%. Normally, after the broker completes the business, the real estate agent charges commissions, and brokers receive 50% -90% of the commissions. The specific proportion is determined by mutual agreement.
It should be noted that New York, housing transactions, agency fees from the seller, and both buyers and sellers can be divided into together, and their licensed companies have to take away half of them. Take the case of a set of $ 1 million apartment for sale, for example, it may be that an intermediary person has an actual amount of about $ 10,000.
A manual "buy guide"
After the establishment of housing resource sharing system, to buy a house, selling people saved a lot of trouble: because the commission was fixed, the rest of the floor to see the price itself is not appropriate, the quality of service is not satisfied with the satisfaction. In the premise of sharing houses, advertising is also sharing the sale of buildings. Every month, real estate agents categorize the buildings on hand and publish an approximately 260-page color pamphlet called "Guide for Buyers" on the supermarket exit and so on. This is the easiest way, the price is clear at a glance, we all know that the commission is 6%, so it is easy to calculate the number of loans, how much down payment.
United States showings process is also very standardized, all states, all regions have a housing resource sharing system, brokers only pay a membership fee, can be used.
When the realtor gets the house sale contract, he must enter the detailed house information into the system within three days, then place the door key in an electronic key box and hang it outside. When the buyer's broker takes the guest to view the room, according to the specific requirements of each house on the shared system, the electronic key with a designated password can be used to open the key box to remove the key. And the moment you open the key box, the seller broker will receive an e-mail to find out who looked at the room at that time. Since most of the market is second-hand housing, even if the seller is still living in the house, take the key must also make an appointment in advance, must not easily open the door.
It is worth mentioning that the first thing that the U.S. intermediary took you to see is to take you to a real estate lawyer. In the New York area, where the signing of real estate sales contracts, the transfer procedures must go through a lawyer. Both the buyer and the seller handle all the formalities by a lawyer. If the buyer needs a loan, the loan bank also sends a lawyer to participate in the transfer procedure. Allegedly, except in New York, most other states do not require lawyers to handle.
Want to be an intermediary to be investigated by the FBI
Real estate agents in the United States generally divided into brokers, sales staff, and partner brokers three categories. Brokers refer to individuals, companies, firms and the like engaged in the sale, transfer, mortgage, leasing and other services of real estate for others for the purpose of collecting service fees. The salesperson is the individual who assists the broker to serve the broker in the name of the broker. Sales staff can not practice alone, can only work with the agent. A partner broker is a broker qualified as a broker but who does not work alone and instead chooses to work as a sales clerk in the name of another broker.
In the United States, real estate brokers practitioners to implement the examination licensing system, which is the United States a most important real estate examination system, all engaged in real estate brokerage activities, brokers or legal persons have to obtain a real estate license before they can engage in business activities, the license is called "Licensed real estate agent." No license to operate is illegal, the consequences are serious.
In Texas, for example, real estate agents before the job, real estate agents to learn to complete 6 disciplines, 180 hours of classroom learning. These include Modern Real Estate, Texas Real Estate Law, Agency Law, Contract Law, Real Estate Finance, and the relevant statute issued by the contract. After the completion of the school curriculum, after 4 hours of national and regional examination pass the background investigation by the FBI, the signing of the broker company has issued a license. After more than four years of practical work before they can get broker qualification. To ensure professionalism and service quality, real estate brokers must take exams to receive further education each year, and renew their licenses every two years.
Brokers work decently
My colleague Lily wants to buy a house. The commissioned agency is a Chinese who settled in the United States after studying abroad. He was 30 when he was a graduate student at the University of Pennsylvania and was a trader at a well-known global investment bank after graduation.
In China, housing agencies do not have such a high degree of education. Asked why he was not a trader to be a real estate agent, he replied that since brokers are freer than their predecessors, income is not bad.
The other reason why the top student has changed jobs is that more and more Chinese now come to the United States to buy a home. Compared to foreigners, they are more willing to find a Chinese agency, we have the same language, similar culture, easy to communicate. Now he can make 2-3 single business every month, which, in fact, is higher than that of traders.
Real estate agents in the United States is a more decent position. Data show that 90% of realtors have college degrees, and 45% have a bachelor's degree, 20% more personal assistant. The real estate market in the more prosperous years, the real estate broker income is also considerable. With years of experience and accumulation of experience, the incomes of real estate agents in the United States have also gone up. The annual salary of practitioners who have been employed for many years is even higher than that of doctors and university teachers.
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