They are They…
Professionals in real estate are instrumental in connecting the buyer with the seller.
Additionally, many real estate agents manage rental properties where they provide tenants to landlords and manage the maintenance of the property on behalf of the landlords.
In many areas, real estate agents are required to be highly educated, licensed and are controlled by a regulatory body.
Certain real estate agents also are Realtors.
To get the title Realtor, the real estate agent must be an active registered member with the National Association of Realtors which in addition to a number of other requirements, demands Realtors to follow an uncompromising code of ethics and offers Realtors additional educational and designation opportunities.
Although not mandated by law or rule however, it could be an excellent idea to hire the help of a Realtor.
What do they do? ….
Real estate agents connect two or more parties interested to complete the steps required to complete a transaction successfully Real Estate Agent and then charge a fee for their assistance.
In the case of sales transactions, they charge commission to the vendor while for rental transactions, commissions are usually charged to the landlord.
Real estate agents typically charge their clients an amount of the selling price (in the case of a sale) and also as a percentage of the rent for rental units.
How do They Do It…
The people who are looking to rent or sell their home leave the details of their property with the real estate agent.
Along with all property details the agent for real estate usually will have keys to the home to facilitate the process of showings.
The other interested party (i.e. the buyer or tenant) can access this information as well as the property through the agent for real estate.
That’s why the real estate agent becomes a hub of information.
Contrary to some common misconceptions Real estate agents usually represent the seller as well as the buyer, but seldom both.
Why should I choose one…
First and foremost, to protect yourself. The real estate market is heavily regulated, highly paper (document) intensive transactions.
A real estate professional has an extensive understanding of the laws, rules, regulations, disclosures and the necessary documentation to complete the transaction satisfaction of the buyer, seller as well as the legal system.
Because real estate agents are most familiar with local real estate market conditions It is prudent and sensible to seek out the guidance of one to get an idea of the trends in the market and market prices for properties in that market.
A professional real estate agent will be aware of the cost (or cost range) of the various properties of various types and at various locations in the area.
Due to the real estate agent’s knowledge and expertise, property sellers often get an additional a few thousand dollars for their property.
Many home seekers, including experienced real estate investors, use the services of real estate agents to search for the best real estate bargains in the easiest and quickest manner.
In addition, the best agents evaluate the desires and requirements of the homeowner/tenant, and can provide valuable information about the kind of homes they can afford that fit within their price range. Thus, a professional real estate agent will not simply present a list of homes available to the buyer or tenant but will also discuss the desires and provide suggestions.
The right real estate agent using this method will reap the benefits in two ways…
Most importantly that, when the agent is able effectively complete the transaction, the commission is earned , and the agent gets paid…
And, secondly when they satisfy the client or customer, and thirdly, if they build a reputation and, in turn, are frequently referred (hence increased business).
That’s worth mentioning…
It is worth noting that there’s a rumor floating around that real estate agents work on behalf of the seller. Buyer beware.
This is not set in stone, nor is it always the case. Real estate agents are in many regions, extremely monitored.
With a few exceptions, estate agents operate either for the seller (as is the case with numerous selling agents) as well for their buyer (as is the case for a buyer’s agent).
Additionally, some areas permit for dual agency. In this case, an agent is able to work for both the buyer and the seller or as a broker for transactions where the agent represents the transaction as a whole and not the buyer or seller separately.
However, in the case of dual agency/transaction brokerage, note that rule, regulation (law) and ethical standards prohibit the agent to be in the favor of one of the parties to the detriment to the other.