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List: Posted: 01/16/12
For those who are looking for a way to make money doing something different, consider finding houses for others. In many cases, people just do not have the time, energy or willingness to travel from place to place to find properties to potentially purchase. They are more than willing to turn to others who are experts in the industry to help them to locate the right property for the right price.
While this is a job to enter with a full knowledge of the industry, it can be a great choice for many people. Here's how to get started.
The First Step
The first step in the process of locating houses for people is simply to know what your job will entail. In most cases, you will not be helping with the negotiation of the sale, the legal work or the title search.
Rather, your job is simply to find property that fits the description of the potential buyer, whatever those needs are. To do your job, you may need to meet specific regulations from federal or state agencies, depending on the type of service you offer.
In addition to this, most of those looking for houses like this will need to set their price for this service in advance, though they may need to spend many hours looking for just the right real estate for the buyer. Some charge a flat fee, while others charge an hourly fee for the service.
The Second Step
The next thing to take into consideration is your ability to do this type of job. You will need to have many industry contacts and you will need to have extensive experience in this area. You will need to do more than just browse the MLS to find property, since most buyers could do this themselves. Rather, you should have contacts to the right estate agents and property owners in the area in order to find the property that the buyer wants to buy.
The Third Step
Once you do begin finding houses like this, it is critical to put in a contract in place, to safeguard your specific needs, tasks, payments and other factors. Once the contract is signed, the next step is then to perform the tasks required and to help the buyer to find his or her house. This process can take time, but it often requires a good deal of patience on your part, especially in markets where the inventory is not as high as you may need it to be.
If you are looking for a way to start a new business or just to make some extra money on the side, finding houses for prospective buyers can be a great opportunity. Nevertheless, this is a job for someone who has ample experience and knowhow within the industry, which may or may not be something you can learn.
It is also important to know how to market yourself to find potential buyers who are interested in using the service you offer.
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