Like many other professions, the activity of a realtor is licensed. To obtain a Miami real estate agent license, you must be over 18 years of age. You also need to have US citizenship or a residence permit, speak English, complete 75 hours of special classes, and pass an exam at the Department of State.
You also need to have US citizenship or a residence permit, speak English, complete 75 hours of special real estate pre-license classes, and pass an exam at the Department of State.
After the exam is passed, an agent has to find an employer — a broker in a real estate agency. This broker submits a special application to the Department of State that is ready to work with this particular agent. After that, realtors in Miami receive a license.
Realtors work for a commission — a percentage of the sale of a house. The average American home costs $120,000. The commission is approximately 4-6%. The owner pays for it. The commission is divided in half between the seller’s agent and the buyer’s agent.
If the realtors sold the house for $120,000 and took 6% from the deal, the commission would be $7,200. Each will earn $3,600. Brokers will take part of the money: they will take 50% from a beginner and 10-20% — from an experienced agent. The commission is paid specifically to the real estate company, not to the agent, who personally doesn’t have the right to accept any monetary compensation from clients.
According to the association’s expert, the postulate “real estate commissions are negotiable” applies everywhere in the USA. The amount of commissions is achieved by agreement of the parties, and their amount is not fixed in legal acts.
Even if the amount of the commission is agreed in advance at a certain percentage, the buyer and seller have every right to negotiate a reduction in the amount at the time of final sales negotiations. The real estate company, in turn, may disagree with this or make concessions to achieve a consensus.
What Are the Realtors in Miami Responsibilities?
It takes about 2 months to obtain a license. Having received a license, a realtor in Miami should always be careful: follow the actions to avoid losing the job forever.
After all, American legislation strictly controls the activities of real estate agents and can punish both with a fine and deprivation of a license. And the license is taken away for various reasons: in case they forgot to pay for it on time, for violations of the code of ethics, the agent knew about the problem but didn’t inform the client about it, and so on.
What services does Miami real estate agent from CardinalMiami provide?
- Analytics and advice on the investment attractiveness of FL. Comprehensive analysis of individual segments of the real estate market, detailed development of a property purchase scheme regarding investment profitability, security, confidentiality, minimization of tax payments based on US tax law, the convenience of living, and the investor’s personal preferences. Selection of the most profitable new construction object for you. Commercial investment in Miami: analysis and valuation of apartment buildings, shops, offices, hotels, land, ready-made businesses.
- Assistance in renting real estate in Miami, short-term and long-term. The best Miami real estate agency CardinalMiami.com can help choose the perfect rental property or help rent out an apartment or villa in Miami, thanks to its connections with leading US rental agencies. In this way, clients’ investments give the maximum return to their owners.
- Assistance in obtaining loans to purchase the real estate, both residential and commercial, building land, a loan for reconstruction or construction, assistance in opening US bank accounts, legal issues, advice on obtaining permanent residence through investment in Florida, and much more.
CardinalMiami real estate agents Miami FL generates income and sustainable growth for its workers, thus ensuring long-term relationships for the benefit of both parties.