All Forum Posts by: Vladimir K.

 Hi Sonia, in my area, there is an option (only for Agents) where you can select Agent Interest as YES.  You may have luck with text search "Agent Owned" too.

This is where your Brokerage agreement comes in.  Unless you are a Managing Broker (not sure what the title is in your state) having your own office and conducting RE sales in your name or your company's name, all of your licensed activities are done through your Managing Broker's name/company.

Note, the commission check is written in the name of the Managing Broker, not your name.   I guess you could ask for a commission reduction, but that agreement would have to be signed by your broker (based on my understanding, not giving any legal advice).

Some Managing Brokers have policies prohibiting For Sale by Owner sales.  Others don't care.  Your questions really need to be answered by your Broker.

This is just one reason why it's important to interview your Managing Brokers when you are a new agent to determine what their policies are.

It really depends on a builder.  I would test and re-test the plumbing before you close.  I don't mean to scare you but I know of a case where a builder "forgot" to hook up a sewer line.  The pipe was busted, so there was drainage out of the house but too much water too soon (such as washer discharge while taking a shower, as an example) caused water to back up and pour out of toilets.  In that particular case, a builder ended up performing everything per the contract and the buyer was ultimately satisfied.  The trick is that builders often have their client sign 'non-disclosure' before performing the work, so these things are seldom talked about.

It really wasn't the builder's fault, per se.  They typically sub-contract all work so the sewer contractor was in the wrong.

Also, on that house, a radon gas fan was installed backwards, so the air was pumped into the house rather than out of the house, which resulted in excessive humidity throughout the house until the fan was re-installed.

Unfortunately, bad things do happen and it's important to be prepared.  Does your builder have a good reputation?  If not, perhaps they will be willing to create an escrow account to cover any issues after closing?  No legal advice.

Hi Kyle, there is a website called whywesuffer.com.  I am not sure if everything the author writes there is true, but I find that many things about our reasons for suffering are true.  Basically, there is a part of us that wants to suffer, as contradictory as it sounds.  That's why we tend to look for reasons to feel bad.  For example, I have a fear of flying.  I used to fear a plane crash, but, after a few years flying, I now fear a medical emergency happening while I'm on a plane.  As you can see, I want to feel scared and am just finding reasons to feel scared.

In the end, you may find that, after giving up on business, you may feel the same guilt, but now for different reasons (i.e. you are not volunteering enough, don't give enough to charity, etc...)  Reasons which have little to do with what you are actually doing, but more to do with how you feel inside.  

I may be wrong, but these are my observations based on my own experiences.

 Along those lines, I saw a sign in the mens' room, that said: "Unless you are a swimmer or a basketball player, wipe the seat".  

In all seriousness, I too enjoy the topic of deep emotion.  I like John Bradshaw's series on shame that you can find on youtube.  Very good stuff.  Also, TEDx has some good talks on depression.

I used to think it's fear, and fear has some part in it.  But then why don't we workout as we should? 

I think the biggest enemy of success is complacency, or being OK with where you are.  Successful people are separated from the rest by their drive to succeed at all costs.  Successful people do whatever it takes to obtain their goals.   The rest (of us) accept our situation and keep on dreaming (as we reach for the TV remote).

http://petriestocking.com/blog/2012/05/10/what-can...

I found this when googling your question.  Still check with an attorney

Congrats on your first deal, Ana!

Good job going out and getting things done.   If you don't mind, I have a question for you and other Chicago wholesalers.  Do shootings affect the resale?  I googled "47th and Ashland" in Chicago and found a link to July 7th incident

http://www.dnainfo.com/chicago/20130707/back-of-yards/at-least-one-shot-at-47th-ashland

This happened after the deal closed, but if this happened before the closing, is there a chance that the buyer would back out?    It would probably scare me, especially since this one happened during the day.  

Hi Nat Chan,

It looks like you left the name of the person who sent you an e-mail in your OP.  I would recommend removing the name as I would not be too happy if my private e-mail was posted to everyone to read :-)

 Of course, if you have persmission from that person to post their e-mail and name, than it's a different issue.

Your fees will depend on the broker that you will be affiliated with.

For example, some brokers let you keep 100% of earned comission, minus a fee per deal. Other brokers may have a split, where you get to keep 60-90% and the brokerage keeps the rest. Typically you also pay for the Association (National and State) fees, MLS fees, sign fees, lockbox fees, etc.. All of the fees alone add to about $1000-$1200/year for me.

It's important to emphasize that when you are joining a brokerage, you are interviewing them, and not the other way around. Ask them about the deals you are planning on doing and whether they have any issues. For example, some brokers may not want you (their agent) from selling on a land contract, or from selling by owner, but may require that you sell through the broker.