Q. How long has Pacific-Realtors.net been in business?
A. The firm started doing business in 1987, but the broker for the firm, Michael Chulak,
has been licensed as a real estate broker since 1971.
Q. How long has Pacific-Realtors.net been a member of the
potential buyers and Conejo Simi Moorpark Association of Realtors®?
A. The company has been a member since its founding in 1987. Michael Chulak
became a member in 1982. He became a real estate broker in 1971 .
Q. What is a CMA?
A. A CMA is a comparative market analysis. A CMA helps sellers determine an ideal
listing price and the probable selling price of a property. CMAs are prepared by
all of our agents for both sellers and buyers.
Q. Can I reliably determine how much my home is worth from an internet website
such as Zillow or Trulia?
A. No. These sites provide only rough computer-generated estimates based upon
averages as opposed to specific data. Their valuations can easily be 5% high or low.
If you want a reliable estimate of the value of your home, you should have one of our
real estate agents prepare a comparative market analysis (CMA).
Q. What is the best way for us to search for a new home?
A. After being pre-qualified by one of our real estate agents, the best way to get started
is by engaging in an advanced search on our website. The search feature is on the
home page. For instructions: Search for Real Estate Listings Like a Realtor.
Q. How much does it cost to hire a buyer's agent?
A. It doesn't cost anything. Agents that are hired by buyers are a paid portion of the
commission paid by the seller of the property. See Buyer's Agents.
Q. What is earnest money?
A. Earnest money is money deposited into escrow in connection with a purchase
agreement to demonstrate good faith that the buyer serious about closing the
transaction. Earnest money protects the seller if the buyer backs out after all
contingency periods have expired or is unable to perform. The lack of performance
by the buyer for any reason can cause substantial financial harm to the seller,
who has taken the property off the market and has probably made plans
based on the sales agreement.
Q. What type of credit score do I need to buy a home?
A. The answer depends on the type of financing you will obtain. Most conventional real
estate lenders require a FICO Score of 620 or better with the lowest interest rates going
to borrowers with scores above 700. FHA lenders generally require a minimum FICO
Score of 500 with 10% down and 580 with 3.5% down. VA lenders generally require a
minimum FICO Score of 580 but prefer a score of 620.
Q. How much cash do I need for a down payment?
A. The answer depends on the type of financing you will obtain. Conventional lenders
require 10% to 20% down unless the loan is very large and then they may require 30%
down. FHA lenders require as little as 3.5% down. VA lenders generally do not require
Score of 500 with 10% down and 580 with 3.5% down. VA lenders generally require a
any down payment.
Q. Is it possible for me to earn real estate commissions by simply referring
potential buyers and sellers to a full time, experienced real estate agent?
A. Yes. By becoming a referral agent, you can avoid joining the Board of Realtors and
Multiple Listing Service while earning commissions. Referral real estate agents can
earn thousands of dollars consistently each year without showing homes or selling.
Call Michael Chulak for details.
Q. Do you do more than sell homes?
A. Yes. We are involved in property management, commercial leasing, and the sale of
apartment buildings, commercial properties and land. Our affiliate, Pacific Business
Advisors represents people wanting to sell or buy a business.
Q. Does Pacific-Realtors.net receive referrals from out of the area real estate
A. Yes. Our firm receives both buyer and seller referrals from:
Broker to Broker Referrals and other referral sources.
Q. Does a large number of agents with a real estate brokerage firm increase the
probability that a property listed with the firm will sell fast and at a higher
A. No. The size of a real estate brokerage firm does not matter because the
overwhelming majority of real estate sales are the result of agents using the
Multiple Listing Service. The MLS has thousands of member agents.
The Multiple Listing service, or MLS, is a marketing database established by its
member real estate brokers who cooperate with each other by providing accurate
data about properties each broker has for sale or lease.
Nearly all real estate brokers are members of the MLS. This includes the large
franchise brokers as well as small independent brokers. The MLS has the effect
of making every brokerage firm equal in that every property listed for sale can be
sold by any real agent employed by any member broker. It is usual for a listed
property to be sold by a firm other than the listing firm.
The concept of the MLS is that each brokerage firm working through its real estate
agents will attempt to sell any of the properties listed because commissions are split
between the listing firm and the selling firm with each firm compensating its own
The MLS, with its large inventory of listed properties, is designed to provide every
real estate agent access to the total inventory of available properties. Most
importantly, the shared system of property listings gives every property equal
exposure to the market. This arrangement is in the best interest of sellers, buyers,
brokers, and real estate agents.
When it comes to selling or buying real estate, the size of the firm is of little
importance. It is the performance of the individual agent that matters. His or her
dedication, knowledge, and experience is what really counts.
Q. Should I list my house high so that I have plenty of room to come down during
the negotiating process?
A. When you decide to sell your property, one of the most important decisions you must
make is your listing or asking price. While you don't want to underprice your real estate,
overpricing it has many disadvantages. See: Consequences of Overpricing.
Q. When I sell my home, can I take my favorite light fixtures (or other attached
items) with me?
A. You can take them provided that you have reserved the right to remove and take
them in the agreement to sell your home. If you don't include such a written
provision, anything attached to the walls, ceiling, and floors will be included in
Q. Is the assessed value of my house an indicator of its market value?
A. No. The assessed value is the number assigned by the real estate taxing authorities
and is not indicative of the fair market value of your home.
Q. What happens if the appraisal for a home comes in lower than the purchase
A. There are four possibilities: (1) The buyer can accept the lower appraisal and
loan amount. and come up with the difference. (2) The seller can reduce the
sales price, (3) the buyer and seller can compromise the sales price amount, or
(4) The transaction can be cancelled by the buyer.
Q. Pacific-Realtors.net has an excellent website and reputation, but I noticed that
you are not listed as a "Top Realtor" on any of the websites that recommend
"Top Agents" in Agoura Hills, Oak Park, Westlake Village and other nearby
communities. Can you explain why you are not listed as a top real estate
agent or broker on any of these websites?
A. Yes. The websites are advertising websites where real estate brokers and agents
pay to be listed as a 'top agent'", "best agent", or "top rated agent". When you
receive a referral from one of these of these websites, what you are getting is a real estate
agent that was willing to pay for advertising on that site. There is of course, nothing
wrong with advertising. Nearly every real estate brokerage firm and agent advertises
in one form or another. Some use these paid referral sites, and others like Pacific-
Realtors.net, use other means to attract clients such as our own websites,
our signs which can be seen throughout Southern California, direct mail marketing,
Q. Are real estate brokerage commissions set by law in California? It seems that
every firm is charging 6% to sell a home and 10% to sell land.
A. Broker commissions are not set by law. Every real estate brokerage firm
establishes what it will charge to market and sell a given property. Commissions
and levels of service vary from firm to firm.
Q. Does Pacific-Realtors.net offer any commission discounts or rebates to
buyers or sellers of homes?
A. Yes. In appreciation of their extraordinary service, Pacific-Realtors.net is pleased to
offer a $1,000 commission discount or rebate to all active-duty military and
reservists in the United State Armed Forces, sheriffs, police, fire fighters, and
paramedics who buy or sell a home through our company.
Q. Does Pacific-Realtors.net recommend that buyers of real estate utilize the
services of a mortgage broker, a commercial bank, or a credit union?
A. While mortgage brokers have differing levels of knowledge and experience, and
some have better reputations for performance, a good mortgage broker can nearly
always outperform a commercial bank or credit union when it comes to originating
real estate loans. The reason is simple. Mortgage brokers develop multiple sources
of mortgage loans, provided by wholesale lenders, allowing them to shop for their
clients in order to obtain the best loans available.
Q. How important is it for a buyer to obtain a formal home inspection when
buying a home?
A. It is absolutely essential for a buyer to obtain a professional, objective, written report.
If the inspector determines that substantial work is required before the end of the
buyer's contingency period, the report may justify the buyer asking for either a price
reduction or that repairs be made by the seller.
Q. What are lender required repairs?
A. There are specific repairs required before a lender will commit to make a loan to a new
buyer. They are normally identified in the appraisal report. Roof leaks and code
violations are the two most common types of lender required repairs.
Q. Do you have contractors and handymen that you can recommend for work on
A. Absolutely. Pacific-Realtors. net has a full-service property management division that
has an extensive list of contractors and handymen that areavailable to our clients.
Q. We own a condominium that we really cannot afford, but don't want to move.
Is it possible for you to find an investor who would buy a partial interest in
our property so that we are able to lower our monthly housing expense?
A. Yes. Call Michael Chulak to discuss the various options that are available.
Q. Does your firm ever joint venture the purchase of investment properties with
A. Yes. We will consider the joint venture of homes, rental homes, apartments,
commercial properties, and land. Call Michael Chulak to discuss a potential joint
purchase of any type of real estate.
Q. When Pacific-Realtors.net lists a house for sale, do you hold open houses?
A. We strongly believe that holding open houses helps to sell houses and have sold
many properties due to the fact that we hold open houses. As long as we have the
consent of the seller, we will hold open houses until the property is sold. Open
houses work because many buyers understand that there is no substitute for seeing
properties in person. While photographs and videos have their place, open houses
have proven to result in sales. Some of our competitors will not invest
their time in holding open houses.
Q. In your experience, what percentage of homes are sold to people who
visited the home at an open house held by your firm?
A. In our experience, which dates from 1987, approximately 7% of homes we have
held open sold as a result of an open house.
Q. If we list our home for sale with Pacific-Realtors.net, are we required to hold
A. No. You are not required to hold open houses, but it is advisable to do so because
they increase demand and they usually result in faster sales and higher prices.
Q. Can a non-citizen own real estate in the United States?
A. Absolutely. Whether you are a citizen or a non-citizen, we would be pleased to help
you purchase a home, land, or any other real estate.
Q. When I sell my house, I intend to move out of California and retire. Can you
refer me to a reliable, knowledgeable real estate agent?
A. Almost always.
Q. I would like to start a career in real estate. Do you have any suggestions?
A. You have already made a good start by visiting our website. You will need to
take certain required courses which you can take through First Tuesday. They are
an excellent company and you can contact them through our site. They will give you
a discounted price when you contact them through Pacific-Realtors.net. They also
offer an excellent, prelicensing exam crash course which we highly recommend.
Our firm also offers a real estate licensing crash course which is absolutely free.
Information is on this site.
After you pass the state exam, we would like to meet with you in person if you are in
Southern California or via Zoom if you are not local. After learning more about you
and your career goals, we will assign a mentor to you and will provide you with
excellent training. Of course, you many contact us at any stage or at any time.
Please ask for Michael Chulak.
Q. Is Pacific-Realtors.net a discount broker?
A. No. We are a full-service real estate firm that provides our clients all of the necessary
services to sell, buy, or lease real estate in California. Our fees are very competitive
and we have been in business since 1987. See: Discount Brokers.
Q. When I sell my property, who receives the commission I am paying?
A. Generally, 50% is paid to the selling office and 50% is paid to the listing office. Each
office must pay their agent from its share of the commission. This is typically
between 50% and 80% of the amount received by the office. Every office is different
so the formula will vary from office to office.
Q. If I obtain a real estate license and join your firm, will I be assigned someone
to assist me through my first few sales transactions?
A. Absolutely. All new real estate agents are assigned a mentor and receive extensive
training both in the office and in the field. A knowledgeable experienced, financially
successful senior agent will be available 24 / 7 to help you and will be available to
meet with prospective clients as needed.
Q. Does Pacific-Realtors.net have an experienced transaction coordinator?
A. Yes. Our transaction coordinator has been providing our real estate agents with
excellent services for many years.
Q. Is it possible to be successful selling real estate part-time?
A. Yes, assuming you have no other employment, or your other employment is
compatible with selling real estate. If your other employment allows for flexibility in
your time requirements, there should be no problem. If your other employment is
rigid in its time requirements, it will not be compatible with serving as a real estate
agent which often requires you to be available on short notice. It is for this reason,
that many successful part-time real estate agents choose to manage rental homes
part-time and/or team-up with a full time agent. We encourage this at
Pacific-Realtors.net and help agents develop rental home management business.
Q. Is your company familiar with the sale of stock cooperatives?
A. Yes. We have represented many buyers and sellers of coops in Southern
Q. I would like to join your real estate company but I live very far from your
corporate office in Agoura Hills. Can I work from my home in Northern
California if I join Pacific-Realtors.net?
A. Yes. It is not necessary to work from Agoura Hills. Today, most real estate
agents do most of their work from their home.
Q. I am a very successful real estate agent with a dedicated team located
within ten miles of Agoura Hills. Will you consider opening a
Pacific-Realtors.net office for my team?
A. Yes, assuming you have a proven record of success over a period of at least
Q. Does the opportunity exist within your firm for a successful Realtor to
become a part owner of the company?
Q. Is Pacific-Realtors.net interested in acquiring small independent real
estate brokerage firms in Southern California?
A. Yes. Please call to discuss.
Q. How much are real property taxes in California and how are they
A. Real estate taxes in California consist the 1% rate established by
Proposition 13 in 1978 plus voter approved debt and district levies.
Voter approved debt and districit levies vary, but average about .25%
for a total average tax of 1.25% of the fair market value. This is an
Q. How big is an acre?
A. An acre is 43,560 square feet and approximately 208.75 feet square. A large
residential lot is typically one-quarter acre or 10,890 square feet. Further information
on the size of land parcels can be found at: Land Dimensions and Descriptions.
Q. We own some desert land that is located in an extremely remote area. It does
not have water or utilities, and is not located on an improved road. We have
tried to sell it without success. Can you help us sell it?
A. Yes. If you are wiling to carry financing, we have buyers who are long term land
bankers who are in the market for inexpensive rural land including desert property.
Q. If I sell my desert land with 10% to 15% down, carry back financing to make
the sale, and then pay a commission and closing costs, I will end up with little
cash. If I list my desert property with your firm, are you willing to take all or
some of your commission as a note secured by a deed of trust?
A. Generally, yes. If we recommend that the seller carry back financing, we are almost
always willing to convert all or some or all of our commission into financing.
Q. Should I buy land in California using a land contract or land sales contract?
A. No. Land sales contracts or land contracts are full of risks for buyers of land. We
recommend that you receive a grant deed and that any real estate financing involve
the use of a standard promissory note and a recorded deed of trust. A neutral escrow
holder should always be used and you should always insist on a policy of title
insurance. Please refer to the article on our website: Land Sales Contracts for more