Receiving Property Buying Recommendations From The Feds
February 16, 2010 by Hanna08
As people in the throws of deciding to buy or sell a house can tell you, the entire process can seem hard. Many who enjoin the services of a professional real estate broker spend lots of eternal nights working to determine who is taking advantage of them the most — the broker or the mortgage company. The Federal Trade Commission guide gives tips to figure it out.
You may want to go to the Buyig your First Home article to read more about how to deal with homes for sale.
The Federal Government makes available a helpful guide that acquaints new purchasers or property sellers with some frequently asked questions concerning homes. entitled “Selling Your Home – Tips for Selecting a Real Estate Professional”. The guide focuses on the proper amount you should expect to pay for a real estate commission, the ins and outs of contracts as well as business models.
While the guide is a bit slim, with only a few pages, it does have lots of helpful tips. In the portion on agent fees, the guide indicates that 6 points is the traditional commission, it is a bargaining point.
The guide goes on to prompt potential customers to attempt to negotiate for a more affordable commission, since the broker covets your business as much as you want their assistance.
You can request the guide by navigating to the FTC Web site at ftc.gov. When you are ready to buy or sell you may want to visit the Property for Sale site to get your best bargain on a new home.
The only way to become a "stock broker" is to:
1. Be hired by a Member firm.
2. Be sponsored for the Series 6 or 7 license (depending on who is hiring you and the limits they want to place on you).
3. Pass the series 6 or 7, and also pass the state securities law exam (mini version of the 7 dealing with rules and regs).
You will also be fingerprinted, have a credit and criminal background check, and periodical checks required by law. You will also be bonded by the firm who employs you (also required).
There is no "waiting period" to become licensed.
You will not be able to take ANY securities license without Member firm sponsorship, except perhaps the Series 65 (Registered Investment Advisor – RIA).
Outside of this, you don't have to be a broker to be a money manager. In fact one cannot hold active broker securities licenses if managing private money such as running a private equity or hedge fund.
Outside of private fund management, one can get a Limited Power of Attorney, or what is also referred to as "Trading Authorization" and make buy and sell decisions for someone else. I would not do this in mass, because you could be deemed as a RIA and be required to meet state licensing and other requirements.
You should have any trading agreement in writing and spell out any compensation.
No. Merely repealing the 16th amendment is all that is needed.
Federal Government in the Crosshairs – OpEd
Get all of your receipts together documenting what you did, get copies of the letters you sent demanding money back, documentation of who you called and who you talked to to get your money back, etc. Get copies of that case to prove he's a crook.
RT Texas Real Estate Commission issued a cease & desist order against a FSBO-discounter, for licencing violation