Category: Property Management

Commercial Real Estate: The Life of a Broker

by

Tony Seruga, Yolanda Seruga and Yolanda Bishop

A commercial real estate broker provides a service between buyers, sellers, and rental agreements of real estate. Brokers are responsible for managing a team of real estate agents, to assist people in buying, selling, leasing, or renting commercial properties.

Properties handled by commercial brokerages often include office buildings, hotels, apartments, retail, hospitality, shopping centers, and industrial properties. For clients who are building on raw land, brokers can help assist the client in managing the construction process, including inspections, identifying zoning restrictions and building codes, and guidance to ensure that necessary steps are taken to make sure that the building is completed on time, and within budget.When working for a seller or landlord of a commercial property, the broker has a signed agreement with the client and sets out to achieve the best possible price with the best terms for their client. While a broker is working for the seller or landlord they may also assist buyers in finding a commercial property to suit their needs, and budget. But in these cases there is never a pre-written agreement, on the buyer’s behalf.In most states, to become a real estate broker, a license is required. This allows the broker to receive money in return for services rendered. It is illegal for a broker to conduct business without a license, unless they are a practicing attorney who is not required to sit for a broker’s license in order to receive a commission. It is important that those interested in becoming a broker make sure that they look into their respective states guidelines on becoming a commercial real estate broker, as requirements, and regulations can differ significantly between states. In many states, licenses are issued for a certain time frame. After that, the broker is required to complete further education to renew their licenses. These further education requirements are especially important to make sure the broker is kept up to date with real estate law updates, and changes in the industry.How To Become A Real Estate BrokerBrokers usually start out as real estate agents. This is where they gain their industry experience, and then decide to become a licensed commercial real estate broker. In order to get a broker’s license, the real-estate agent must pass a brokers state exam, as well as complete some course work, or training. Usually, after receiving accreditation, the broker will either continue to work for another broker, as an associate broker, or start a business of their own where they will manage a team of real estate agents.Brokers, who have their own brokerage business with real estate agents to manage, must have a very good working knowledge of legal procedures, and requirements. It is their job to educate, and advise both their real estate agents, as well as clients who come to them for advice on commercial selling, rental, or building.What Services A Commercial Broker ProvidesA broker will offer services such as an estimated value of a property, marketing of that property, and assistance to a buyer, or seller with the purchase, lease or sale of a property. Brokers may be called upon to provide for sale by owner (FSBO) document preparation, and paperwork, but in commercial properties this is much less of an occurrence than with privately owned residential properties.A broker will also offer guides to property owners on how to sell, or rent their property, and assist with property management process. A broker will often fill out the paper work needed to sell or rent a property, although they are not given the authority to sign papers on behalf of their clients.CommissionsCommercial Brokers receive a commission from the sale of a property. This is usually an agreed percentage of the sale price or part of the monthly rental income from the landlord. Brokers in the commercial industry must be very competitive, and have a good knowledge of their local area to make a sound income. But with these skills, there are definite monetary rewards offered to brokers. According to statistics the majority of commercial real estate brokers are on an annual income above $42,000 per annum, while some are earning a six figure income.

$600 million worth of property is being managed by Tony Seruga, Yolanda Seruga, Yolanda Bishop and their partners as of May 2006. They specialize in commercial real estate, and are always looking for new projects across the U.S.

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Submitted by: Kruis Barry

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Submitted by: Richard Mills

Question: 1

Which of the following statements about the over-the-counter market is true?

A. Only penny stocks are traded in the over-the-counter market.

B. Trades in the over-the-counter market are conducted via the auction process.

C. Only bonds and other debt instruments are traded in the over-the-counter market.

D. Stocks that are listed on exchange floors are also traded in the over-the-counter market.

Answer: D

Explanation:

Stocks that are listed on exchange floors are also traded in the over-the-counter market. The term third market refers to over-the-counter trading of listed stocks. All types of securities-stocks, bonds, options, warrants, rights-trade over the counter. The over-the-counter market is a negotiated market, not an auction market.

Question: 2

Which of the following is not an auction market?

A. NASDAQ

B. NYSE

C. CHX

D. All of the above are auction markets

Answer: A

Explanation:

NASDAQ is not an auction market. NASDAQ is a computerized system of geographically dispersed securities dealers. As such, it is a negotiated market. The NYSE (New York Stock Exchange) and the CHX (Chicago Stock Exchange) are both auction markets.

Question: 3

The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a:

A. registered trader.

B. specialist.

C. floor broker.

D. commission broker.

Answer: B

Explanation:

The entity that serves as the auctioneer for trades conducted on an organized exchange floor is known as a specialist. The specialist is assigned stocks by the exchange and is a market maker in those stocks. A registered trader is a private individual who buys and sells on his own account only. Floor brokers and commission brokers execute trades for other investors.

Question: 4

Which of the following statements about specialists is false?

A. Specialists are market makers in assigned stocks and, as such, can profit from these investments.

B. Specialists are required to maintain a fair and orderly market in their assigned stocks, meaning that they must buy if there is an excess of sell orders and sell out of their own portfolios if there is an excess of buy orders.

C. Specialists are employees of the exchange on which they oversee trades.

D. In addition to acting as market makers, specialists also act as agents and execute limit orders placed by commission brokers for their clients if the specified price is reached.

Answer: C

Explanation:

The statement that specialists are employees of the exchange on which they oversee trades is false. Specialists are separate firms that are members of the exchange. Specialists are market makers in the stocks that are assigned them by the exchange and can earn profits (or losses) on these investments, just like any other market maker. They are required to maintain a fair and orderly market in their assigned stocks, however, which means they sometimes must trade against the market. They also maintain a central limit order book in their assigned stocks.

Question: 5

NASDAQ market makers provide investors with assurance that:

A. there is a market for the listed security.

B. the investor will be able to buy or sell the security at a price he desires.

C. the investor will be investing in a high quality investment with relatively low risk.

D. NASDAQ market makers provide investors with no assurance whatsoever. It is buyer beware.

Answer: A

Explanation:

NASDAQ market makers provide investors with assurance that there is a market for the listed security by posting bid and ask prices for it. There is no guarantee, however, that the investor will be able to buy or sell the security at the price he desires or that the investment is high quality and low risk.

Question: 6

SuperDOT is:

A. an electronic communication network (ECN).

B. an electronic system whereby trades are executed on NASDAQ.

C. an electronic system used to place orders on the NYSE.

D. both A and C.

Answer: C

Explanation:

SuperDOT is an electronic system used to place market and limit orders on the NYSE whereby the orders are routed directly to the specialist in the assigned stocks. It is not an ECN, which is an electronic network that is designed to allow buyers and sellers to interact directly with each other, thereby bypassing the middlemen.

Question: 7

GoForBroke Investments has registered with the SEC to be a market maker in certain NASDAQ-listed securities. In order to be able to enter bid and ask quotes for the securities in which it is going to make a market, GoForBroke must subscribe to which level of NASDAQ?

A. Level I

B. Level II

C. Level III

D. Level IV

Answer: C

Explanation:

In order to enter bid and ask quotes, GoForBroke must subscribe to NASDAQs Level II I. Level I simply allows the user to view the highest bid and lowest ask price for a security, and Level II allows the user to view all the bid and ask quotes from all the market makers in a security, but only Level III allows the subscriber to enter quotes. There is no Level IV.

Question: 8

Which of the following is not a characteristic of all auction stock exchanges in the U.S.?

A. There is a central marketplace.

B. Stocks that are traded on the exchange must meet certain listing requirements, determined by the exchange.

C. In order to conduct a trade on the exchange, a broker must be a member of the exchange or hold a license to trade on the exchange.

D. If a stock is listed on one of these exchanges, it is not permitted to be listed on any other exchange.

Answer: D

Explanation:

The statement that does not describe a characteristic of all U.S. auction stock exchanges is D. Dual listing is permitted. Stocks listed on one exchange may also be listed on another. In fact, most of the trading on U.S. regional exchanges is in dual-listed stocks. All of the auction exchanges do have a central marketplace, listed stocks must meet listing requirements, and brokers wishing to conduct trades on the exchange must be members of the exchange or hold a license to trade on the exchange.

Question: 9

Which of the following is an example of a primary market transaction?

A. Exco Resources (XCO) sells a new issue of 7.5%, 8-year notes.

B. Ms. Talker calls her broker and places a market order to sell shares of AT&T (T) on the NYSE.

C. Mr. Safe purchases a Treasury bill with two weeks remaining to maturity.

D. Mr. Green places an order to buy shares of Sunvalley Solar, Inc. (SSOL), a stock selling on the OTC Bulletin Board.

Answer: A

Explanation:

Exco Resources new bond issue is a primary market transaction. The primary market refers to the market for new issues. The other three scenarios describe transactions in securities that are already being traded and are secondary market transactions.

Question: 10

NASDAQ is:

A. an acronym for Norways major stock exchange.

B. the government organization that insures accounts at U.S. brokerage firms.

C. a computerized system that links together the U.S. regional exchanges.

D. a computerized quotation system used in the over-the-counter market.

Answer: D

Explanation:

NASDAQ is a computerized quotation system that is used in the over-the-counter market. It allows NASDAQ market makers to enter bid and ask quotes and allows subscribers at lower levels to view the bid and ask quotes available.

Question: 11

All government bonds and the majority of corporate bonds are traded:

A. on the floor of the NYSE.

B. via electronic communication networks (ECNs).

C. on regional exchanges.

D. in the over-the-counter market.

Answer: D

Explanation:

All government bonds and the majority of corporate bonds are traded in the over-the-counter market.

Question: 12

Which of the following types of securities would not be traded in the over-the-counter market?

I. stock options

II. government bonds

III. corporate bonds

IV. corporate stocks

A. I only

B. I and IV only

C. III and IV only

D. All of the choices are traded in the over-the-counter market.

Answer: D

Explanation:

All of the choices listed-and more-are traded in the over-the-counter market: stock options, government bonds, corporate bonds, and corporate stocks. Additionally, securities such as warrants, rights, forward contracts, and foreign currencies also trade in the over-the-counter market.

Question: 13

Which of the following are duties of the specialist on an exchange floor?

I. executing limit orders if/when the limit price specified is reached

II. minimizing any imbalance in supply and demand for the stock(s) that the specialist is assigned

III. determining an opening price for each assigned stock every day

IV. serving as an auctioneer for the shares of the assigned stocks

A. I and II only

B. I, II, and IV only

C. I and IV only

D. I, II, III, and IV

Answer: D

Explanation:

All of the choices listed are duties of the specialist on an exchange floor. The specialist maintains a limit order book and executes those orders if/when the limit price is reached. The specialist is also charged with maintaining a fair and orderly market in the assigned securities, which means trading on his own account to ensure that the supply and demand of the stocks shares match. Additionally, the specialist is responsible for setting the opening price for the assigned stock each day and for serving as the auctioneer for the shares of the stock.

Question: 14

The price at which an investor can sell a security to a market maker in the over-the-counter market is called the:

A. sale price.

B. put price.

C. bid price.

D. ask price.

Answer: C

Explanation:

An investor can sell a security to a market maker in the over -the-counter market at the bid price, which is the price at which the market maker is willing to buy the security.

About the Author: Test Information:Total Questions: 325Test Number: SERIES6Vendor Name: FINRACert Name: FINRA CertificationTest Name: Investment Company and Variable Contracts Products Representative Examination (IR)Official Site:

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Core principles to get best property investment deals

by

Jennifer HillInvesting in the CT real estate market especially if your new can be scary. Clifford Group is a real estate solutions company and we have the experience when it comes to flipping CT houses and buying income producing real estate. As an investor, you need to have reliable sources to help you find great deals. Investing in CT real estate is not for everyone but, it does not have to be scary. If done right it can be very lucrative. These are some tips that we use to help new investors. 1.Think Long Term: Flipping houses will get you quick cash to pay your bills but you need to have a long-term strategy. You need buy and hold investment properties in your portfolio to add long term growth and create a steady cash flow stream. 2.Focus on Relationship: You need to find realtors who are friendly with investors and get on several local wholesaler’s lists. Use local REI clubs to your advantage and network with other members. You will be surprised at the deals that flow through those local REI clubs. 3.Identify your target investment Areas: If you really want to make money on investment properties then you need to identify your target investment Area. New Haven CT is the perfect market if your new to real estate investing. We are active real estate investors in the New Haven area and with Yale and the hospitals close buy there is always a demand for housing. New haven CT also has lots of great starter homes that are great for quick fix and flips. If your serious and looking insanely discounted property for sale in CT, then Clifford Group is your #1 source. It’s the place new and local investors go to find investment properties for sale. You can easily make money with our help. Clifford Group is the best source of Connecticut Investment Properties at 30-50% below market value. When it comes to investment properties in Connecticut you need to consider a number of things. There are few core principles which can help you get the best deal. If you are busy and need some help acquiring your first or 100th CT investment property, here at Clifford Group we have access to some deeply discounted single family and multifamily investment properties in CT. Buying a new home can be stressful for buyers. As a buyer, you need to do your due diligence and have a home inspection done by a local professional. There detailed reports will help you get the best deal on houses for sale in New Haven, CT. Here are few essential things you must do before purchasing a home in the New Haven area:Whether you are looking for investment properties or just a nice cheap home for sale in New Haven, CT but Clifford Group is always here to help. Our list of New Haven area investment properties under $100K is always changing. Join our investors list or give us a call today. We look forward to speaking with you: (203) 513-9672. More details at: http://www.amazingctdeals.com/investment-property-new-haven/

Jennifer Hill is an experienced content writer who has written numerous articles on Homes for sale in new haven CT, Property for sale in CT, Investment Properties in Connecticut and much more.

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Submitted by: Home Renter

There are several fraternities who have lucratively built means through well planned property investments on the other hand those who have already taken a deep plunge must know the significance of managing the property even after leasing the rental property. There are simple, common and sensible ways to protect real estate investments and you will be able to find in key terms that are to be had for it, in this article.

Newbies must learn from the Thriving real estate investors for the reasons that never ignore their properties after getting hold of. Instead, they take steps to maintain and at the same time they even develop the value of their investments by managing the property even after renting.

Being a thriving depositor in rental properties is all a subject matter of attitude. The basic fact should be known very well, investors who are seeking for quick cash with little effort will feel beleaguered when plights build up and this in turn might lead to the pass over and ultimate abandonment of a property.

In distinction, the person who knows that real estate investment is all about dealings and who wants to make that big business prosper acknowledges accountability for keeping the property in the finest form possible under widespread market settings.

More to the point, there are certain significant steps for maintaining a property and that takes into consideration the following factors:

Locating a structure in place for regular preservation and emergency repairs.

Notifying leaseholders how to report urgent situation and non-emergency conditions.

Scheming operating expenses.

Investigating new sources of revenue production.

With the advent in technology, Property management has become an easy job and property management software is an authentic fortunate thing to owners who have many properties to deal with at once. Sustained by the authority and competence of online property management software, properties owners can extra competently handle their properties and perk up their earnings as well.

Formerly if it is chosen correctly, the software can help the property owner of a set of botheration and put together everything much easier to have possession of and deal with rental properties. On the other hand, if the software is web-based, then it will not be really essential to set up anything on your computer. This means you will not have to stay perturbing about trailing your data due to computer harms or hard drive malfunction.

There are several things that have to be done in order to put a stop to a property from becoming badly maintained; the owner must occasionally look over the grounds, the common spots, and the individual units. This will help to cut down some costs as they might relieve in the best possible way; in several cases, the conditions may inexpensively rectified but it is better if you be on the safer side.

If you are planning to get the best Houston house for lease then contact the best Houston property management corporation as they will help you find the best place and they can make it in the best way possible.

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