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What Is Real Estate?

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

 

I often read in the descriptions that an agent is offering to work with investors.

Of course, I understand that “investors” is a very loosely defined term. Basically, because a home is often "the biggest investment in our lifetime", everybody buying real estate automatically is an “Investor”.

Well, in that case we all work with “investors”.

There is a category of people who get through the State test, and get a license… and then either never work in Real Estate, or enthusiastically start working on their first cool million and then fade out to the nearest Wal-Mart with guaranteed $8.50 an hour…

In that sense they say there are more people with real estate license in Florida, than people with driver’s license…

I think in real life active investors are those who are doing it professionally. People who live of that (and often very nicely). Of courtse, there are those, who just participate with money, and then somebody is doing all the legwork, and guesswork… those are called passive investors.

And, as we know there are professional agents, who do not have time to work in Wal-Mart, as they are spending all their time on real estate.

If you think that there should be a match made in Heaven, when you have an investor and an agent, think twice. Because there isn’t.

What Is Real Estate?For some reason professional agents operate within the boundaries of local MLS. We deal with properties duly posted on MLS. And if not on MLS… well, it does not exist…

But this is not true. Besides FSBOs, there are Auctions, including foreclosure sales at the County Court steps, there are tax deed sales…

I am going to the court for foreclosure sales, and I also go to tax deed sales. What stuns me is that there are very few agents there. Usually about 3 agents… I do not know exactly how many Realtors are in our county (we have 3 independent Boards), but I assume that this number is more than 3,000 agents.

How many agents are working there? 0.1%? Just wow.

So, who goes there?

Investors. People, who developed excellent survival skills in a very tricky market...

Do you know what they are doing there?

Well, they are buying and selling properties, and it is called flipping. And as every professional agent knows, you can’t flip in this market in Florida.

I guess they are doing what can't be done. Short of Christmas miracle...

Maybe those shrewd investors know something that so many professional agents don’t?

Maybe they know that real estate is not only what is on MLS?

Photo via Flickr.com by photologue_np

Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Hi Jon,

Our local MLS is overwhelmingly oriented to the residential market. We commercial guys have our own developed network to trade data and get deals done...

Dec 13, 2011 02:53 PM
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

Jon,

Isn't real estate "the legal transfer of ownership of property, usually consisting of a parcel of land and all improvements, appurtenances, etc. attached thereto"? So by that definition, inverstors are also involved in real estate, they're just not agents...

Dec 13, 2011 03:10 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Tim - I know that commercial guys are often not in MLS. I am surprised that agents working with residential properties, lockj themselves in MLS only.

 

Dec 13, 2011 03:34 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

William - absolutely, they are involved in real estate, no questions about it. I am only surprised that agents do not tap in this resource, and that part of real estate passes them

Are we all really that busy?

Dec 13, 2011 03:36 PM
Vadim Zolotarevskiy
FunCoast Realty & Management, LLC - Daytona Beach Shores, FL

It is surprising how some of these people know real estate. Even thogh they usually do not have a license

Dec 13, 2011 04:26 PM
I Pike
Ormond Beach, FL

Jon- I heard about Tax Certificates, but I do not know anything about Tax Deeds.

Dec 13, 2011 04:32 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Jon I'm investing in a feature for you!  Suggested.

Dec 13, 2011 04:53 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

vadim - it is not a matter of license, it is a matter of knowing what they are doing. Only those, who know, survive

Dec 13, 2011 06:15 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Inga - tax certificate and Tax Deeds are not the same. When you buy a tax certificate, you do not buy the property, you only guarantee that you will eventually be paid (certain limitations applied), while when you buy a tax Deed, you get the property.

Dec 13, 2011 06:17 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Thank you, John

Dec 13, 2011 06:18 PM