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Session 4: The Realtor (Real Estate Agent)




Session 4: 

The Realtor (Real Estate Agent)


Fun Entrepreneur Icebreaker


Movie Quotes:  Each student says a famous movie quote. The other students will guess which movie it is from and get a point for each correct answer.  Students may use Chromebooks to research quotes for their ideas if needed.  Students may not look up answers to others’ quotes.


 

Great job on picking out some homes on Zillow! What's next?  If this were for real, you'd get in touch with a realtor, also known as a real estate agent, to see these homes up close. Now, we're just pretending, so we won't visit these houses, but it's good to understand what a realtor does in case you ever decide to buy a home.


The realtor is the person who helps you look for houses and helps you with your “offer” - that's the price you're willing to pay for the house. Say there's a house you like, and it costs $400,000. You might decide to offer $350,000. It's the realtor's job to take this offer to the seller. Often, the seller might make a counteroffer with a different price, or they might want to stick to their original price of $400,000. If the seller agrees to your offer, then your realtor gets busy with all the paperwork involved in buying the house.  What else do realtors do?


Knows All About Houses and Places:  Realtors know a lot about different houses, prices, and neighborhoods. They're experts who can tell you if a place is good to live in and how much it should cost.


Finds Homes: If you're looking to buy a house, a realtor helps you find one that's just right for you. And if you're selling, they help find people who might want to buy your house.


Helps with Prices: Realtors are good at figuring out how much a house should cost. They make sure buyers and sellers get a fair deal.


Talks and Makes Deals: They do a lot of talking and negotiating to make sure everyone agrees on the price and other important things about buying or selling a house.


Handles Paperwork: Buying or selling a house needs a lot of paperwork. Realtors help fill out all these important papers correctly.


Gives Advice: They give really good advice about houses, like what improvements you could make or what to look out for when buying a house.


Stands Up for You: A realtor always looks out for what's best for their clients, making sure they're treated fairly in the deal.


Works with Others: They work with other people like home inspectors and lawyers to make sure everything goes smoothly when buying or selling a house.


Follows Rules: Realtors have to follow certain rules and be honest and fair in their work.


So, think of a realtor as a guide and helper when it comes to anything about buying or selling properties. They are there to make the whole process easier and fair for everyone!  


So….YOU FOUND A HOME!


So, after browsing three houses on Zillow (and let's pretend a realtor showed you those 3 homes in person) you've picked one you like! You made an offer on it, and the realtor presented the offer to the home's seller. Good news - they've agreed to your price! Now, to make this house officially yours, you'll need a mortgage, and this process can take about 30 to 60 days. But before you can sign all the official papers (which is what we call 'closing') and move into your new home, you need to be approved for the mortgage.


Remember, earlier in our class we talked about being pre-approved for a mortgage based on how much money you make in your job. Now, the next step is to apply for a mortgage. This means you'll go to a bank, fill out some forms, and show them proof of your income to make sure you can pay back the loan. They'll also check your credit score. This score is really important because it affects the interest rate you'll get on your loan. A higher credit score usually means a lower interest rate, which means your monthly payments will be lower, too. Having a good credit score is important when you're applying for loans. Let's dive into what a credit score is all about!








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