The Hidden Mystery Behind REAL ESTATE AGENT

Real auctions 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 property with respect to the landlords the hill at one north.
In most areas real estate agents must be highly educated, licensed and are regulated by a governing body.
Some real estate agents may also be Realtors.
To utilize the title Realtor, a real estate agent must be a member of the National Association of Realtors which and a number 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 necessary by rule or law, it may be a wise decision to seek the services of a Realtor.

What Do They Do….

Real estate agents bring together two or more interested parties, perform those steps essential to successfully conclude a transaction and charge a commission for their services.
For sales transactions, they charge commission to owner while for rentals, commission is normally charged the landlord.
Realtors generally calculate their fee as a percentage of the value (in the case of a sale) and as portion of the rent for rental units.

How Do They Do It…

People who want to sell or rent their property leave details of their property with the real estate agent.
Alongside all property details the real estate agent will routinely have keys to the home to facilitate showings.
The other interested party (i.e. the buyer/tenant), gets usage of this information and to the house by contacting the real estate agent.
That’s how the agent becomes a hub of information.
Contrary to some typically 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 true estate agent possesses a detailed knowledge of the laws, rules, regulations, disclosures and documentation essential to successfully complete the transaction to the satisfaction of the buyer, the seller and the law.

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 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 varied 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 a few thousand dollars more because of their property.

Many home seekers, including seasoned real estate investors use real estate agents to find the best real estate 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 as to the kinds of properties open to them of their budget. Therefore, a good real estate agent will not just present a list of available properties to the buyer/tenant but will in actuality discuss their needs and make suggestions.

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

Worth Noting…

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

However, regarding dual agency/transaction brokerage, note that rule, regulation (law) and ethics 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 agent, usually do not hesitate to ask.g