FAQ - Pacific Realtors

PacificRealtors.net

818-991-5200


PacificRealtors.net PacificRealtors.net
   
   
Q. How long has Pacific Realtors been in business?
   
A. The firm started doing business in 1987, but the broker for the firm, Michael Chulak, has been licensed as a real estate broker since 1971.
Q. Is it possible for me to earn commissions by simply referring potential buyers and sellers to a full-time, experienced real estate agent?
   
A. Yes. You can join NationalReferralAgents.corn which is affiliated with Pacific Realtors. By becoming a referral agent, you can avoid joining the Board of Realtors and Multiple Listing Service while earning commissions. Referral real estate agents can earn thousands of dollars consistently each year without showing homes or selling. Please visit the website.
   
Q. Do you do more than sell homes?
   
A. Yes. We are involved in business opportunity sales, commercial leasing and sales, apartment building sales, and land sales. Our affiliate, CoastManagement.net, manages homeowner associations, rental homes, apartment buildings, office buildings, and retail properties.
   
   
Q. Does a large number of agents with a real estate brokerage firm increase the probability that a property listed with the firm will sell fast and at a higher price?
   
A. No. The size of a real estate brokerage firm does not matter because the overwhelming majority of real estate sales are the result of agents using the Multiple Listing Service.

The Multiple Listing Service, or MLS, is a marketing database established by its member real estate brokers who cooperate with each other by providing accurate data about properties each broker has for sale. The MLS is a mechanism for listing brokers to offer compensation to brokers and agents representing buyers.

Nearly all real estate brokers are members of an MLS. This includes the large franchise brokers as well as small independent brokers.

An MLS has the effect of making every brokerage firm equal in that every property listed for sale can be sold by any real estate agent employed by any member broker. Given that most MLS services have hundreds of broker members with thousands of real estate agents, it is most common for a property listing to be sold by a firm other than the listing firm.

The concept of the MLS is that each brokerage firm working through its real estate agents will attempt to sell any of the properties listed because commissions are split between the listing firm and the selling firm with each firm compensating its own agents .

An MLS, with its large inventory of listed properties, is designed to provide every real estate agent access to the total inventory of available properties. Most importantly, the shared system of property listings gives every property equal exposure to the market. This arrangement is in the best interest of sellers, buyers, brokers, and real estate agents.

When it comes to selling or buying real estate, the size of the firm is of little importance. It is the performance of the individual agent that matters. His or her dedication, knowledge, and experience is what really counts.
   
   
Q. How can I obtain advice on how I should hold title when I purchase a property?
   
A. You should consult with a real estate attorney for this type of advice because only an attorney is qualified to provide it. However, you may want to visit our website page, Methods of Holding Title to Real Property in California before you consult with an attorney as it will help you to ask the right questions.
   
   
Q. Are real estate brokerage commissions set by law in California? It seems that every firm is charging 6% to sell a home and 10% to sell land.
   
A. Broker commissions are not set by law. Every real estate brokerage firm establishes what it will charge to market and sell a given property. Commissions and levels of service vary from firm to firm.
   
   
Q. I listed my property for sale years ago with a large real estate brokerage firm and they didn’t perform. How can I be certain that Pacific Realtors will not disappoint me?
   
A. First, we promise that we will provide you with all of the service you should expect from an experienced, knowledgeable, full-service real estate firm. Next, we back it up with our performance guarantee which is as follows:
   
  If for any reason you decide to cancel your listing with us, you may do so upon 5 days written notice. Notwithstanding, if during the listing period, a buyer is found who is ready, willing, and able to pay the listing price, or a purchase contract is signed by the parties, the seller will be responsible for paying the agreed commission regardless of cancellation.
   
   
Q. We own a condominium that we really cannot afford, but don't want to move. Is it possible for Pacific to find an investor who would buy a partial interest in our property so that we are able to lower our monthly housing expense?
   
A. Yes. Call Michael Chulak to discuss the various options that are available.
   
   
Q. Does your firm ever joint venture the purchase of investment properties with others?
   
A. Yes. We will consider the joint venture of homes, rental homes, apartments, commercial properties, and land. Call Michael Chulak to discuss a potential joint purchase of any type of rental estate.
   
   
Q. When Pacific Realtors lists a house for sale, do you hold open houses?
   
A. We strongly believe that holding open houses helps to sell houses and have sold many properties due to the fact that we hold open houses. As long as we have the consent of the seller, we will hold open houses until the property is sold. Open houses work because many buyers understand that there is no substitute for seeing properties in person. While photographs and videos have their place, open houses have proven to result in sales.
   
   
Q. Can a non-citizen own real estate in the United States?
   
A. Absolutely. Whether you are a citizen or a non-citizen, we would be pleased to help you purchase a home, land, or any other real estate.
   
   
Q. When I sell my house, I intend to move out of California and retire. Can you refer me to a reliable, knowledgeable real estate agent?
   
A. Almost always.
   
   
Q. If I obtain a real estate license and join your firm, will I be assigned someone to assist me through my first few sales transactions?
   
A. Absolutely. All new real estate agents are assigned a mentor and receive extensive training both in the office and in the field. A knowledgeable, experienced, financially successful senior agent will be available 24/7 to help you and will be available to meet with prospective clients as needed.
   
   
Q. We own a condominium in a development where the homeowner association is suing the developer because of construction defects in the common area. We are aware that the existence of construction defects will make it difficult to sell our condominium. Can you help us sell it?
   
A. Absolutely. We are condominium specialists and have extensive experience selling condominiums that are located in developments with common area construction defects.
   
   
Q. We own some desert land that is located in an extremely remote area. It does not have water or utilities, and is not located on an improved road. We have tried to sell it without success. Can you help us sell it?
   
A. Yes. If you are willing to carry financing, we have buyers who are long term land bankers who are in the market for inexpensive rural land, including desert property.
   
   
Q. If I sell my desert land with 10% to 15% down, carry back financing to make the sale, and then pay a commission and closing costs, I will end up with little cash. If I list my desert property with your firm, are you willing to take all or some of your commission as a note secured by a deed of trust?
   
A. Generally, yes. If we recommend that the seller carry back financing, we are almost always willing to convert all or some of our commission into financing.
   
   
   
Caution – When Buying Real Estate
 
If a buyer has a living trust, it is extremely important that a home or other property being acquired be transferred to the living trust in escrow. If a property is not in the trust, the trust will not apply to the property, thus defeating the purpose of the trust. If you are buying real estate and do not have a living trust, you should have one created as soon as possible. A living trust avoids probate and saves money. Visit: Living Trusts and Estate Plans for information.