All Forum Posts by: Chris Ayars

First, check to make sure that is a legal bedroom size. Second, if you have septic versus sewer, you need to see what the septic tank is rated for. Septic tanks are rated for the number of bedrooms in a house not the number of bathrooms and kitchens.

As a real estate agent, I think the indoor laundry room would sell better than the laundry hookups in the garage and a really small extra room in the house.

Thank you, Nadeem. Currently I plan to keep it fairly close to home in Virginia. I think that would be the best starting point. I live near an army base where there is a high turnover due to it being a training post for all branches of the military. I could do flips, long term rentals and short term rentals. There are also many other military bases within a couple of hours of me.

On the other hand, I have family in other states. Short term rentals might not be a bad idea where they live. Are you aware of any other benefits from doing out-of-state business?

As a real estate agent, I believe that the best time to list a property for sale is after the project is complete. That way you can get quality pictures and the property is "move-in ready."

Regarding compensation that some mentioned, it is always negotiable for both buyer and seller sides. If you are selling, your listing agent should discuss with you how he/she gets compensated and the two of you agree on the price. After that, you can discuss whether or not you will offer an incentive to the buyer. Once the listing agreement is signed, it is a legal document. Any changes would require another legal document. 

A buyer's agent should have a buyer's agreement with the buyer that also lays out the compensation he/she will get from the buyer. The buyer is always responsible for that payment, but is relieved when the seller provides the incentive that will pay that fee for them. This could also help a buyer be able to afford the property. Also, one must be aware that some loans do not allow the buyer to pay their agent a commission and no one likes to work for free.

Historically, REALTORS® are able to sell a property for a higher price than FSBOs. This enables the seller to obtain the price they want while still paying the real estate brokers involved. Don't think for a moment that a seller is required to pay the buyer side fees. However, providing a selling incentive to the buyer side could provide the seller with a greater advantage in selling a property.

Hello, I am new to BP because I keep hearing that this is the place to go for those who want to invest in real estate. I am a real estate agent who is interested in building my own investment portfolio.

I love to help people, and serving is ingrained into my personality. Perhaps I can even share knowledge about how REALTORS® function in the world of buying and selling real estate.