Real estate agents are professionals instrumental in connecting the buyer with the seller.
Additionally, many realtors manage rentals wherein they introduce tenants to landlords and oversee the maintenance of the house on behalf of the landlords.
In most areas real estate agents are required to be highly educated, licensed and so are regulated by way of a governing body.
Some real estate agents are also Realtors.
To utilize the title Realtor, a real estate agent must be a member of the National Association of Realtors which in addition to a amount of other requirements, requires Realtors to stick to a strict code of ethics and will be offering Realtors additional educational and designation opportunities.
Though not required by rule or law, it might be a wise decision to seek the services of an agent.
What Do They Do….
Real estate agents gather several interested parties, perform those steps essential to successfully conclude a transaction realmove and charge a commission for their services.
For sales transactions, they charge commission to the seller while for rentals, commission is normally charged the landlord.
Realtors generally calculate their fee as a percentage of the selling price (regarding a sale) and as the main rent for rental units.
How Do They Do It…
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 typically have keys to the house 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 typically common misconceptions, real estate agents typically represent owner or the customer but rarely both.
Why Should I Use One…
First and foremost, to protect yourself. Real estate transactions are highly regulated, highly paper (document) intensive transactions.
The true estate agent possesses an in depth knowledge of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction to the satisfaction of the customer, the seller and regulations.
Because real estate agents are most acquainted with local real estate market conditions, it is wise and makes sense to seek the advice of one to get an idea of the existing trends and pricing for properties within that market.
A good agent will know the prices (or price range) of various properties of different kinds and at various locations within the region.
Because of the real estate agent’s knowledge and expertise, property sellers often get yourself a few thousand dollars more because of their property.
Many home seekers, including seasoned property investors use real estate agents to find the best real estate bargains in easy and simple and quickest manner.
Furthermore, the very best agents analyze the wants and needs of a home buyer/tenant and provide valuable input as to the kinds of properties available to them within their budget. Therefore, a good agent will not just present a list of available properties to the buyer/tenant but will actually discuss their needs and make suggestions.
The good real estate agent, working in this manner benefits in at the very least two ways…
First and most obviously, once the real estate agent has the ability to successfully complete the transaction the commission is earned and the true estate agent is paid…
and secondly, should they make the customer/client happy they earn a good reputation and often receive referrals (hence more business).