Category: Orlando Realtors

Sale of 203 Condo Units In Orlando

Posted on by Jenny Zamora

A Madison Capital Management affiliate has been advised by Cushman & Wakefield in the context of the sale of 203 condominium units within 272 Heritage Estates, a Class A community in Orlando. The firm has also garnered about $15.7 million in debt and has organized equity financing by a joint venture from Centersquare Investment Management. Center square is BNY Mellon’s investment boutique for real estate deals. This was done on behalf of the buyer. Five-year financing was provided by Key Bank.

Fractured nature is not a concern

According to Dave Karson, the Executive Managing Director of Cushman & Wakefield, this kind of excellently located community attracts capital from those who seek comparatively lower returns than they were accustomed to for the past several years. The condominium’s fractured nature does not have an effect in such circumstances. He added that the improvement of the equity and debt markets has made such kind of capitalization possible.

Karson’s team members included Chris Moyer, Suraj Ravi, Sridha Vankayala, and Steve Kohn in the Debt & Structured Finance group of Cushman &Wakefield.

Heritage Estates was constructed in 2003 and is sandwiched between Orlando International Airport and the University of Central Florida. It is situated in the University of Central Florida/East Orange submarket. The property has been invested by Madison as either direct owner or lender since 2005. The company has established a stellar record of first acquiring units and then converting those to rentals.

In real estate, relationships are the key

The business of real estate depends on relationships. It is about service as well as trust. Clients do not trust entities that they do not know. For any real estate buyer, it is not simply about searching and then getting home. It is actually the first step in a methodical process from starting the contract to closing the contract. A large number of steps take place after a home is found, and the function of a good Orlando real estate agent becomes apparent at that stage. The task of meeting appraisers, ensuring that the inspector arrives as scheduled, does an adequate job, and sends his or her reports on time.

A realtor juggles communications between the title company, contractors, and sellers and keeps things on schedule as previously planned. Agents have to anticipate and have the requisite knowledge and skill to adjust to situations that even a frequent buyer of homes may have not endured through.

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How Realtors Get Paid- Video

Posted on by Jenny Zamora

If a real estate agent works with a buyer or a seller for weeks or even months without a resulting transaction, then they just aren’t paid for their time.

Realtors earn a commission based on the sales price of the home and they only receive that commission only after the transaction goes to closing.

Commissions are negotiable between listing agents and their clients. Some brokerages offer commission discounts for sellers, but a typical commission is between 5 and 6 percent of the sales price.

Most of the time, the commission is evenly split between the buyers’ agent and the listing agent, but sometimes the split is negotiated unevenly.

For example, a seller could agree to pay a 5.5 percent commission divided so that the listing agent receives 3 percent and the buyers’ agent receives 2.5 percent. So it all depends on what they agreed on.

Who Ends Up Paying the Commission?

Technically, the total commission is always paid by the seller at the closing table, where the fee is subtracted from the proceeds of the home sale.

The commission is split at the settlement table between the listing agent’s brokerage and the buyers’ agent brokerage; then the agents themselves are paid by their brokers.

Now if it’s a short sale property, then it works a bit differently and I’ll be talking in detail about that in my next video. “How Do Realtors Get Paid on a short sale”

For more information call us at 407-902-7750 or visit us at https://orlandorealtyconsultants.com/