Ronald S. Cook,
Licensed Real Estate Broker
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Suffolk: 631-265-0102 Nassau: 516-559-7219
___________ | Residential Real Estate Mistake: Selecting the wrong real estate "professional" Many real estate sales agents are anxious to list your home. After they get the listing, they move on in search of more listings. This is because when they get an exclusive, they are guaranteed a commission. The can then simply wait for other agents to bring them a buyer. Many agents send associates to handle open houses - if even conducted. Sales agents only require 45 hours of training in a generic "pass the exam" class. All New York real estate sales agents work underneath a real estate brokers. It is the broker, not the agent, that typically has 3+ years of experience and manages the office. Contact us to learn how our services are second to none Residential Real Estate Mistake: Pricing incorrectly and needlessly delaying the sale Many agents encourage sellers to price a home too high for a given market. The agent is commission driven, so they make more money on a higher sale. The seller receives less genuine buyer inquiries. The carrying cost of a delayed sale and closing can be significant. Always calculate what your carrying cost will become without a timely sale. A delay of just 2 months can cost you more than a $5,000 price drop of your home. You need to know the actual sale price of homes, not just the listed price of unsold homes. Contact us to see the prices of homes that have already been SOLD in your area Residential Real Estate Mistake: Renting when you should own Millions of individuals continue to pay rent when they can own their own home. Poor credit can be repaired, and modern lenders are aggressive. The purchase of a multi-family home can off-set the cost of ownership. After considering the tenant income, and your tax benefits, the net cost could be LESS than renting. Contact us to view our spreadsheet analysis of all the related figures. Commercial Real Estate Mistake: Leasing when you should own Millions of businesses continue to make lease payments when they can own their own building, Lenders aggressively allow business owners leverage into buildings since the security is in the building. Consider leasing some space to other tenants to off-set the cost of ownership. After considering the lease income, and your tax benefits, the net cost could be LESS than leasing. Contact us to view our spreadsheet analysis of all the related figures. Contact us for information on buildings in your area.
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Copyright © Ronald S. Cook, Licensed Real Estate Broker, New YorkDisclaimer: The content of this web site shall not be deemed to be legal advice.*Under N.Y. law, a licensed attorney cannot simultaneously perform legal services and real estate broker services within the same transaction for the same client. This means that if you do business with a real estate broker, you must not ask for (nor can you expect to receive) legal advice from that broker (who also holds a law license) pertaining to the transaction. The reason for this rule is to avoid any potential conflict of interest. |
