How to Write a Real Estate Statement?
There are four types of financial statements, according to the U.S. Securities and Exchange Commission. These are income statements, balance sheets, cash flow statements, and statements of stakeholder's equity. A real estate statement, on the other hand, gives you a complete picture of the financial transaction between a buyer and the seller.
Your goal in making a real estate statement is to present the transactions between you and your client. It involves some calculations and typing in some of your transactions' details. Don't worry about having to create one because we have some tips for you below.
1. Identify the Type of Statement You are Going to Make
There are several types of statements. Before you make one, you should identify the reason why you are creating one. Is it a balance sheet, or perhaps you need a financial statement.
2. Gather Contents
Next, you have to gather the contents for your chosen statement. Classify which details you must include, such as contents relevant to the transaction, like market prices, real estate budgets, etc.
3. Prepare a Draft
After gathering the contents for your statement, you can organize them in a sheet that will serve as your draft.
4. Fix the Draft and Make it Concise
Once you have completed your financial statement draft, you can proceed to fix possible mistakes and get rid of unnecessary data. Aim to make your document concise and comprehensive.
5. Proofread and Finalize
You've now made your final product! However, before printing it out, review and proofread it first. Look for mistakes in calculation or incorrect placement of items.
What is a financial statement?
A financial statement is a formal presentation of the financial records of an individual, a business, or an entity. The purpose is to present these records in an organized, easy to understand documents. These statements are used to prove the legitimacy of the business transactions of individuals or entities.
What is real estate?
Real estate refers to properties that a person can physically obtain and own. Houses, buildings, land are all considered real estate. These properties can fetch a high price depending on their value. Their value is evaluated by real estate agents.
How do you make money as a real estate agent?
Real estate agents make money by accepting commissions from clients and real estate brokers. Clients give real estate agents a percentage of the profits from selling a property. Real estate brokers give the agents payment based on the service provided.
What is a real estate agent?
A real estate agent is someone who makes a living by looking for properties that they can sell. They also offer their assistance to clients who want to sell a property. Apart from that, real estate agents also evaluate the value of property to come up with the right price.
How much is the yearly income of a real estate agent?
According to the Real Estate Express, the median yearly income of a real estate agent is USD 43,000. However, more experienced agents are capable of earning up to a hundred thousand dollars.