The Real Estate Market What is a REALTOR? – It is a great honor to write an article to Orlando Green & Yellow about one of the most discussed topics today: Florida real estate market, coveted by all international investors.
We are experiencing a great time to do real estate businesses, whether you want to buy a property to live or just a vacation home to invest. Historically, house prices have never been so low even lower than construction costs. the new projects here cost much less than real estate in Brazil. We are living a unique moment.
However, what often holds an investor from buying a property in Florida is not understanding how the entire process works.
We, realtors, are ready to answer all kinds of questions, guide the investors and provide all the information you need to make an organized and peaceful purchase, without taking any risks. Before taking any actions, the buyers should seek professional help, and these are the main steps to be taken:
Identify the property that better suits each costumer (whether for investment, leisure, housing, trade, manufacturing or land).
Get information on financing, pre-approved credit and all required documents.
Technical inspection of the property, made by a specialist.
Have a title company gather all documentation of the property supervised by the Realtor.
Ensure the client gets the appropriate insurance.
Identify the best way to transfer money
Prepare closing (delivery of the keys), make the final inspection of the property, check the documents and prepare the final deed.
Hire a company to manage your property, take care of maintenance, pay the bills, rents etc.
But what does the government require of a professional who wants to become a realtor? and from the standpoint of the investor, what are the benefits?
The first step for a professional to get his license is to attend a training course that lasts more than 60 hours. Each applicant is evaluated through a test taken at the educational institution of their choice and each application must be approved by the state Government. Then the FBI tracks the person. Once the application is approved, the candidate is ready to take the test. Only after being approved the person can get his license, issued by the department of professional regulation of their state, to work as a real estate agent.
Now, the licensee may work as a real estate agent, but his license must be under the supervision of a broker, i.e., they cannot yet have their own real estate agency. Compulsory education never stops. We must comply with a schedule of refresher courses. Failure to comply with any of these stages or deadlines will cause the agent to lose his license. But only the courses and tests do not make a good realtor. Just practice and day after day experience can make an experienced professional; able to face the changes and innovations of the market in a responsible, professional and ethical way.
The real estate agent in the us is regulated, supervised and must comply with very specific laws.
Another side of our activity that surprises the Brazilians is the computerization of our industry. We have amazing tools at our disposal, like the MLS (Multiple listing system), a unified and complete database, containing every single property that is available for sale or rent. The agents pay for this service and have complete access to the status of the property – if they are still on sale or have already been sold, for how long, a complete description of the property, photographs, location maps and much more. All this linked with a form system that draws up contracts, addendums, listings and costumer communication. In short, an awesome tool! My fellow real estate agents from brazil are amazed at such technology.
But what is the difference between a licensed real estate agent and a realtor? the realtor is a real estate agent that is a member of an association, the national association of realtors, which follows high standards of service, provides constant training and has political representations in various levels of the government.
A real estate agent is not required to be part of this association, but in this case he will not have the title of realtor and will be just a licensed real estate agent.
As an expert, i suggest that everyone who wishes to invest in Florida seek professional assistance of an associated agent.
Rosana R. Almeida