Lies And Damn Lies About REAL ESTATE AGENT

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 are regulated by a governing body.
Some real estate agents may also be Realtors.
To utilize the title Realtor, an agent must be an associate 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 offers Realtors additional educational and designation opportunities.
Though not necessary 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 two or more 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 normally charged the landlord.
Real estate agents 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 want to sell or rent their property leave details of their house with the true estate agent.
Alongside all property details the true estate agent will typically have keys to the house to facilitate showings.
The other interested party (i.e. the buyer/tenant), gets usage of this information and to the property by contacting the real estate agent.
That’s how the agent becomes a hub of information.
Contrary to some typically common misconceptions, realtors typically represent the seller or the customer but rarely both.

Why MUST I Use One…

First and foremost, to safeguard yourself. Property 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.

realmove Because realtors are most acquainted with local market conditions, it really is wise and makes sense to seek the advice of one to get an idea of the current trends and pricing for properties within that market.
A good agent will know the costs (or price range) of varied properties of different types 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 property investors use real estate agents to find the best property 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 regarding the kinds of properties available to them of their budget. Therefore, a good agent will not just present a listing of available properties to the buyer/tenant but will actually 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, when the real estate agent has the ability to 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 an excellent reputation and frequently receive referrals (hence more business).

Worth Noting…

It is worth noting that there is a myth floating around that real estate agents only work on behalf of owner, buyer beware.
This is simply not written in stone nor is it always the case. Real estate agents are, generally in most regions, highly regulated.
With few exceptions, realtors work either for owner (as is 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 a realtor can work for both seller and the buyer or as a transaction broker where 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 usually do not permit the agent to do something in favor of either party while in detriment to the other.
When you are unsure of the partnership between you and your real estate agent, do not hesitate to ask.