Frequently Asked Questions
1. Why not include other schools and programs on this website (ex. law school, business school, other graduate programs)?
Medical students and residents represent a unique niche. Unlike other graduate students in business, law, etc, medical students spend 4 full years in the same location. Afterwards, graduating medical students enter salaried training programs for 3-7 years in the same location. This turnover of trainees at the same time every year lends itself to a natural and predictable “medical real estate market.”
Additionally, our vendors have agreed to provide services to this specific niche market. Most R2R members are cash-strapped and 6 figures in debt.
2. Most “for sale by owner” (FSBO) websites charge significant fees, how is your website free?
In fact, all FSBO websites charge anywhere from $70 - $800 to list and advertise a home without any guarantee of successful sale. R2R Real Estate is free for residents and students thanks to support from our vendors.
3. How will incoming medical students and residents know about R2R Real Estate prior to starting MS-1 and PGY-1 respectively?
R2R Real Estate is advertised mainly by word of mouth. As a result, we rely on communication between current and incoming residents/students via blogs and other social networking sites. Several GME offices and medical schools have listed R2R on their websites. We have also been recognized in various forms by the American Medical Association, American Medical Student Association, Chicago Magazine, Fast Company Magazine, and Startupnation.com
4. How much money can I really save by using R2R Real Estate?
A LOT! At the very least, R2R Real Estate aims to save home-owning residents and students the full 6-7% commission fee. That’s $6000-$7000 per $100,000 of your home’s value.
Despite these obvious savings, the TRUE value of R2R Real Estate is realized once your property is unloaded and the threat of unsold property is eliminated. While the real world experiences peaks and valleys in the market, our closed medical real estate market remains steady. Equal numbers of residents/students come in and go out at the same time every year. Consider the extreme case of R2R Real Estate’s founder:
His condominium finally sold 14 months after he graduated from residency! In the end, he lost 14 months of mortgage payments, 14 months of home owners’ association fees, 14 months of electricity payment, and 6% real estate commission fees. This is not to mention the fact that the condo’s sale price was 10% less than what he bought it for 5 years earlier. No resident or student should ever experience this ESPECIALLY given the turnover of new residents and students every year!
5. I am in the midst of my residency training and I own a home. Why register with R2R Real Estate at this point?
R2R Real Estate would like to have you on board for the day when you eventually sell or lease your property. In addition, R2R is developing relationships with vendors of all types who offer exclusive discounts to our members.
6. I came across your site while browsing the web. I am not a resident or student and I am not in the medical field. Can I still register on your site?
If you would like to list a property which may be of interest to a doctor-in-training, please contact us at R2R@R2Rrealestate.com.
7. My property is currently listed with an agent. Can I still post my property on the R2R site?
Yes! Keep your options open. R2R Real Estate is just another way to list your real estate for free.
8. Can I list my property for sale and for lease on R2R Real Estate?
Yes!
9. I have encountered difficulty posting my property. How can I get assistance?
We are always at your service. Please contact R2R@R2Rrealestate.com with any questions.
10. My property has sold, how can I unlist it on the R2R site?
Once you are logged in, Click “Manage Properties.” You will see an option to unlist your property.
11. I am a landlord or I belong to a rental company. How can I list properties on your site?
If you would like to list a property which may be of interest to a doctor-in-training, please contact us at R2R@R2Rrealestate.com.