Tips & Advice
What types of service do real estate agents provide?
Agents provide a wide range of services that can help you make a speedy and profitable real estate transaction. Real estate agents can assist sellers with marketing their homes, and this includes things like coordinating open houses and scheduling photography that presents the home in an appealing manner on real estate websites. Agents can assist both buyers and sellers with all aspects of the negotiation process, with the aim of helping to maximize profits on the transaction. Finally, agents can also support both property managers and tenants with property rental.
How long does it take to become a real estate agent?
It's possible to get the licensing you need to become a real estate agent in just a few weeks. Some states require you to take pre-licensing coursework, and this can range from 45-75 hours or more. If you choose to train for licensing at a real estate school, the educational requirements can usually be met in four to six months. Online real estate schools are also available, and these allow students to proceed at their own pace. At an online school, a motivated student can complete the coursework necessary for licensing in a few short weeks.
What is the difference between a real estate agent and a broker?
There are key differences between a real estate agent and a broker. A broker is typically an owner of a firm or franchise, and these professionals handle such tasks as setting up earnest-money accounts and approving final contracts. Agents are employed by brokers, and they split their commissions with these professionals. Relative to agents, brokers typically have to deal with more exams and a larger course load to obtain licensing.
How can someone become a real estate agent?
To become a real estate agent, you'll need to prepare for and pass a licensing exam. Pre-license education hours may be required, and the exact amount varies from state to state. Once you've passed the exam, the next step is to connect with a real estate broker. Agents act on behalf of a broker, and are not allowed to handle real estate transactions independently. The broker will assist in completing the final paperwork that will allow you to manage real estate transactions in your state. Some states require a broker to sponsor an agent prior to the agent's licensing exam.
What is a real estate agent?
A real estate agent is a professional who represents clients who are purchasing, selling, renting, or leasing property. Real estate agents need to be licensed in order to practice. These individuals usually work solely on commission, so it's necessary for them to close deals if they hope to generate income.
Is it worth it to pay for an accountant?
It is worth it to pay for an accountant if you are looking for tax savings, or if you want very neat and accurate records on file in case of audit, or if your books have become too complex for you to be sure you’re making the best financial decisions. Many small businesses benefit from paying for an accountant, but individuals need them as well for a variety of circumstances, including purchasing multiple vehicles in one year, switching from employee to self-employed status, making a large personal gift to a family member, or moving abroad.
Types of accountants are: financial advisor, tax professional, public accountant, auditor, forensic accountant, and accounting consultant.
What is the difference between a CPA and accountant?
A CPA has completed the state-mandated amount of specialized education and supervised experience in the field to be allowed to sit for the Uniform Certified Public Accountant Examination. Almost all states require a bachelor’s degree in accountancy, but not all do. All states require a minimum 150 hours of formal university education. And to become a CPA, any candidate must pass the Uniform CPA exam.
Professionals with a four-year degree in accounting or a related business concentration can go to work for an accounting firm and be accountants, but without the CPA designation.
Is an accountant needed to file taxes?
No, an accountant is not needed to file taxes. But for business owners, people who are filing 1099 (independent contractor), or anyone with significant complexities, it’s better to have an accountant. Complexities could mean a lot of things, but three common ones are a recent inheritance, an investment portfolio, or ownership of rental properties.
How much does an accountant charge?
An accountant typically charges $110-$250 per hour if they are billing hourly. The more expensive ones work on complex tasks for businesses or high-net-worth transactions. Many accountants take on one-time tasks like tax preparation and set a typical rate for performing the job. Others will agree to monthly retainers with certain deliverables – for example, $150 per month to do the books for a small business.