Real estate agents are professionals instrumental in connecting the customer with the seller.
Additionally, many realtors manage rentals wherein they introduce tenants to landlords and oversee the maintenance of the property on behalf of the landlords.
In most areas realtors are required to be highly educated, licensed and so are regulated by a governing body.
Some real estate agents are also Realtors.
To use the title Realtor, a real estate agent must be a member of the National Association of Realtors which and a amount of other requirements, requires Realtors to adhere to a strict code of ethics and will be offering Realtors additional educational and designation opportunities.
Though not required by rule or law, it may be a wise decision to get the services of a Realtor.

What Do They Do….

Real estate agents bring together several interested parties, perform those steps necessary to successfully conclude a transaction and charge a commission because of their services.
For sales transactions, they charge commission to the seller while for rentals, commission is typically charged the landlord.
estate agents Realtors generally calculate their fee as a percentage of the value (regarding a sale) and as portion of the rent for rental units.

How Do They TAKE ACTION…

People who desire to sell or rent their house leave details of their property with the real estate agent.
Alongside all property details the true estate agent will routinely have keys to the home to facilitate showings.
Another interested party (i.e. the buyer/tenant), gets access to this information and to the property by contacting the true estate agent.
That’s how the agent becomes a hub of information.
Contrary to some common misconceptions, real estate agents typically represent the seller or the customer but rarely both.

Why Should I Use One…

First and foremost, to safeguard yourself. Property transactions are highly regulated, highly paper (document) intensive transactions.
The real estate agent possesses an in depth understanding of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction to the satisfaction of the buyer, the seller and regulations.

Because real estate agents are most familiar with local real estate market conditions, it is wise and makes sense to get the advice of one to obtain an idea of the current trends and pricing for properties within that market.
A good real estate agent will know the prices (or price range) of various properties of different types and at various locations within the spot.

Because of the property agent’s knowledge and expertise, property sellers often get yourself a few thousand dollars more for his or her property.

Many home seekers, including seasoned property investors use the services of real estate agents to locate the best property bargains in the easiest and quickest manner.

Furthermore, the best agents analyze the wants and needs of a home buyer/tenant and provide valuable input regarding the kinds of properties open to them within their budget. Therefore, a good agent will not just present a listing of available properties to the buyer/tenant but will in actuality discuss their needs and make suggestions.

The good agent, working in this manner benefits in at the very least two ways…
First and most obviously, once the real estate agent can successfully complete the transaction the commission is earned and the real estate agent is paid…
and secondly, should they make the customer/client happy they earn a good reputation and frequently receive referrals (hence more business).

Worth Noting…

It is worth noting that there is a myth going swimming that realtors only work on behalf of owner, buyer beware.
This is simply not written in stone nor is it always the case. Realtors are, in most regions, highly regulated.
With few exceptions, realtors work either for the seller (as may be the case with many listing agents) or for the customer (as is the case for a buyer’s agent).
Additionally, some areas enable dual agency where a realtor can work for both the seller and the customer or as a transaction broker where the agent represents the transaction itself and neither the seller nor buyer individually.

However, in the case of dual agency/transaction brokerage, remember that rule, regulation (law) and ethics usually do not permit the agent to do something in favor of either party while in detriment to the other.
For anyone who is unsure of the relationship between you and your real estate agent, do not hesitate to ask.

Leave a Reply

Your email address will not be published. Required fields are marked *