Real Estate Investing: FTC Educating Homebuyers
Real estate investing gets a prod from the Federal Trade Commission. The FTC has issued an educational pamphlet for homebuyers. Part of the details follow:
Finding a broker whom you’re comfortable with may take a little time. Ask friends, co-workers, and neighbors who have sold houses in the recent past for recommendations. You also can see who’s selling property in your area by checking lawn signs and ads.
Interview several real estate brokers/agents to learn about their experience, track record, style, and market knowledge. Expect a broker to be professional: to return phone calls, to be organized, and to communicate clearly.
Here are some questions to ask to help you find the best real estate broker for you:
* How many homes did you sell in the past year?
* What is your commission?
* What share of the total commission should I offer to another broker who finds the buyer?
* How will you market my home?
* Will you help the buyer get financing?
* Can you provide a list of references?
Check ftc.gov/bc/realestate/resources/glossary.htm for a glossary of current
real estate terms.
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