How do real estate companies make money?
Eee gads! Huge number of really poor answers here. Kemperk comes closest, though his example might be a bit difficult to follow. Real estate brokerages don't buy and sell property. And there isn't a per-use fee for the MLS--certainly not $1,000. And so on. Let's start from the beginning. Each real estate agent has an arrangement with his/her brokerage. The two extremes are: (1) The agent owes 50% of his/her commission to the company on each sale, and (2) The agent keeps 100% of the commission, but pay either a monthly fee or a per-transaction fee to the brokerage. And there are different arrangements inbetween. Let's take the sale of a single property. And, while commissions are negotiable, let's assume hypothetically that the listing agent (the one representing the seller) charges 6%. The house sells for $100,000. So the seller pays the listing agent $6,000. Usually, that fee is split 50/50 with the buyer's agent--the agent representing the buyer. So $3,000 goes to the buyer's agent and $3,000 is kept by the listing agent. If the listing agent has a 50/50 agreement with his/her brokerage, the listing agent keeps $1,500, while $1,500 goes to the brokerage. Some will go to the managing broker (the boss), and the rest to the company. That pays for the facility, the maintenance, corporate advertising, training, etc. And what's left is the profit. If the listing agent pays a monthly desk fee, he/she may keep the entire $1,500. But every month, he/she has to pay something--$300, $500, $750--to the company. Again, that pays for the facility, the maintenance, corporate advertising, etc. And what's left is the profit. The same thing happens on the buyer agent's side. The buyer agent gets half the commission. Then he/she either pays a percentage to that company, or is paying a monthly desk fee. Regarding the MLS: Each individual agent pays a subscription fee to access the MLS data. It often runs $700-$1,200 a year. Finally, because real estate companies rely on their agents' commissions, a drop in sales means less revenue for companies. And many of them went out of business or closed multiple locations during the recent real estate bust. That's really the way it works. Hope that helps.
How much do real estate agents make?
Real estate agents get paid commissions after a real estate transaction is made based on the sale price of a property. The commissions are negotiable and range anywhere from 1% up to 10% of the property price; the percentages vary especially based on the experience of the agent. Here we will use a 5% commission rate example.For a $250,000 property, the 5% commission will be $12,500. But that does not mean that the agent walks away with $12,500. Real estate commissions are paid to the real estate broker, who then splits the commission with the agents involved in the transaction. The most common arrangement of payment between a broker and an agent is the traditional 50/50 commission split. Thus, for our example, each will receive $6,250 at the closing of the transaction.How Much Do Real Estate Agents Make?According to the National Association of Realtors, a full-time real estate agent makes a median annual income of $55,000 - $100,000. While this seems like a very good amount of money to make, you need to keep in mind that this is just an average and that there are successful agents who make much higher profits, while other agents make much less.However, as a real estate agent, you should not expect a fixed salary. There are other factors that have an impact on the answer of how much do real estate agents make:1. Some real estate agents, depending on their goals or simply on the transaction process, only work part-time. Others choose to work full time, which naturally increases their overall pay.2. Experience is another factor that determines how much do real estate agents make.3. Location plays a role with everything in the real estate business, including how much do real estate agents make. Location affects commission rates; some areas have higher or lower commission rates depending on the price range for homes in the local market.4. The rate of your sales: or in other words, how many homes do they sell in a year. This obviously depends on many factors such as the strength of the housing market. However, a more important question is “What type of homes are they selling?” A real estate agent who sells cheap homes for a low commission might sell 20 homes a year, but he/she won’t be making as much as an agent selling four or five luxury homes.Hope this was useful! Check out Mashvisor’s blog section for more answers to any question related to real estate.
What are the additional charges by nestaway?
Whatever additional expense comes to ur mind other than just the rent is additional and u got to pay from ur pocket sharing among the flatmates.Nestaway doesn't charge u anything other rent. But if u end up raising a ticket for any concern then u r gone beat lol..!They promise you free service visit every month. Which means that any issue in ur flat electrical/plumbing/cleaning and u raise a ticket then u don't have to pay the Labour charges (upto 500) and if the Labour charge goes beyond that then you have to pay it.Other than the Labour charge you will have to pay for the consumables used like wire/new pipe/phenoyl etc to resolve you ticket.But here is the catch even though they promise free service visit Nestaway makes sure to charge for the consumables like this in the backendAmount to be Paid = Consumables Cost (actual consumables cost + service charges + some extra profit)U won't see this breakup in ur dashboard lol.. I realized this after a plumbing ticket of mine was resolved and the guy who came his assistant was innocent enough to reveal the actual price of the consumables to me.Piece of advice if u choose to stay with these ppl is never raise a ticket unless u wanna get looted.And move into a house which is in mint condition. Otherwise u gonna have tough time staying..!Wouldn't be much of a problem if u r a person who can adjust with anything and doesn't expect value for money paid as rent inclusive of maintenance.
How do I buy an off plan property in Dubai?
For primary market [first-hand] purchases:You can directly buy from the developer.Make sure the developer, project and project’s Escrow account are all registered in the Dubai Land Department’s Real Estate Regulatory Arm (RERA).You will proceed to pay according to the payment plan outlined in the contract, every off-plan project has its own payment plan ( a rule of thumb - the lower the down payment, and the more the payments are shifted close to project completion the better, and the lower the risk on your side)Make sure the developer registers your property with the Dubai Land Department through the Oqood registration - registration will cost around 4% of the total purchase price.For secondary market purchases:You can buy off-plan units on the secondary market from another owner. Make sure the seller has registered the property with the Dubai Land Department and can provide you with a copy of the registration. After signing an agreement of sale between you and the seller, you should both go to the developer and apply for a No Objection Certificate (NOC). Once the NOC is issued by the developer, the transfer of ownership takes place in a Dubai Land Department trustee office and this is when you pay the seller. The total fees will include a 2% commission fee (in case you went through a sale’s agent/broker), the NOC fee [around 5,000 AED max] ,and a transfer appointment fee [4,000 AED]In case you are interested in secondary market off-plan purchases, I highly suggest you make use of buyer-focused real estate platforms like www.monopolykings.com to get all the insights you need to make a safe investment.Wherever you end up choosing to invest, you will still need to properly assess your investment. I suggest you check out relevant investing tips at blog.monopolykings.com to know more.In case you have any investment inquiries, feel free to email me at marwan@monopolykings.com
What should I do to get cellular companies to install a mobile tower on my plot of land in India?
The straight answer to your question is :1. DO NOT APPROACH ANYBODY FOR MOBILE TOWER INSTALLATION , YOU MAY BE DEFRAUDED. If you are in contact with someone please verify the credentials of the company or get in touch the nearest Telecom Enforcement, Resource and Monitoring Cell (TERM) of DOT.2. Only Access Service Licensee who are granted license under section -4 of Indian Telegraph Act and the companies who are granted Infrastructure Provider-1Registration by the Department of Telecommunications are automatized to own a mobile tower.3. The list of such companies is available at Department of Telecommunication , Ministry of Communication Technology Government of India Websitewww.dot.gov.in, Access and Carrier Service License retrieved fromwww.dot.gov.in/sites/default/files/u75/2015_12_16%20IP1%20CS-III.pdf,www.dot.gov.in/sites/default/files/LIST%20OF%20LICENSEES%20as%20on%2015012014_0.pdf4. Genrally telecom companies (Access Service Provider)after doing a thorough RF Analysis of the area vis-a-vis Business Requirement, identifies the location( latitude and Longitude) for setting up the mobiel tower. They either identifies the exact location and acquire it at own or do it through IP1 provider. The sites are selected after doing a comprehensive safety assessment of the property.5. If your home / property is suitable for coverage and from RF point of view , these company will approach you. Soem of the IP-1 companies on their website have given facility where you can post your property details.But POINT TO REMEMBER is :None of Access Service Provider or Infrastructure Provider company or its employee seeks any money from you. The BTS sites are installed Free of Cost. You need not pay any money in the form of registration , any tax etc. The Mass marketing Fraud in garb of Mobile Towers is going on in Country. Recently I have done a research on same subject. If interested and want to be aware of such frauds , you can see it at :Mass Marketing Frauds in the garb of Mobile Towers in India: Evolving a Framework to handle it