Real Estate Agents-Fundamentals Explained

The idea of negotiating with a real estate agent instils uncertain concerns in the majority of buyers and sellers. While some agents are sincere and reputable, placing their clients’ best interests first, there are plenty of unscrupulous individuals out there looking to make a fast buck at the expense of others. It is your duty as a buyer or seller of a property to carefully choose an estate agent. So, before you approach a real estate agent, here’s what you should know about them. More info in the article.

What is the role of a real estate agent?

The realtor serves as an intermediary between the buyer and the seller and helps to complete the selling of a house, depending on which side he is working with (the buyers or the sellers). His client offers him a fee in exchange for his services (seller, buyer or both). When operating on behalf of a seller, the agent is responsible for entering the property’s information into local multiple listing services as well as other marketing activities such as home staging.

In the case of a residential property, a real estate agent can begin by posting the property’s information on his or her personal or company website, depending on whether or not he is employed by a realtor firm or operates independently. The next step will be to market the property both offline and online, using postcards and advertising in real estate magazines.

In addition to selling your house, the agent who lists it is responsible for following up with other agents who may have clients who have expressed interest in it. An agent is also expected to assist you in obtaining the best possible deal. He or she is with you every step of the way before the house is sold, counselling you on everything from finding a lawyer to selling the house. The agent does not charge the client/home seller for his marketing activities, but you will be responsible for any legal fees associated with the sale.

When working for a seller, a realtor is in charge of sifting through property listings in the area where his client is interested. He coordinates with the seller’s real estate agent and arranges for his clients to see the home. A buyer’s real estate agent assists in negotiating the best price for his client and remains with the buyer during the buying process. He’s still in charge of finding a specialist to conduct a property appraisal. Some real estate agents can also provide additional services such as mortgage advice and assistance. Real estate agents are paid commissions not only on the selling and purchase of properties, but also on the lease of a house. The fee is usually paid to the real estate agent at the conclusion of the transaction.