eal Estate Agents..... strict code of ethics and offers
Realtors additional educational
Who Are They... and designation opportunities.
Real estate agents are Though not required by rule or
professionals instrumental in law, it might be a wise decision
connecting the buyer with the to seek the services of a
seller. Realtor.
Additionally, many real estate What Do They Do....
agents manage rentals wherein
they introduce tenants to Real estate agents bring together
landlords and oversee the two or more interested parties,
maintenance of the property on perform those steps necessary to
behalf of the landlords. successfully conclude a
transaction and charge a
In most areas real estate agents commission for their services.
are required to be highly
educated, licensed and are For sales transactions, they
regulated by a governing body. charge commission to the seller
while for rentals, commission is
Some real estate agents are also typically charged the landlord.
Realtors.
Real estate agents generally
To use the title Realtor, a real calculate their fee as a
estate agent must be a member of percentage of the selling price
the National Association of (in the case of a sale) and as
Realtors which in addition to a part of the rent for rental
number of other requirements, units.
requires Realtors to adhere to a
How Do They Do It... yourself. Real estate
transactions are highly
People who want to sell or rent regulated, highly paper
their property leave details of (document) intensive
their property with the real transactions.
estate agent.
The real estate agent possesses
Along with all property details an in depth knowledge of the
the real estate agent will laws, rules, regulations,
typically have keys to the house disclosures and documentation
to facilitate showings. necessary to successfully
complete the transaction to the
The other interested party (i.e. satisfaction of the buyer, the
the buyer/tenant), gets access to seller and the law.
this information and to the
property by contacting the real Because real estate agents are
estate agent. most familiar with local real
estate market conditions, it is
That’s how the real estate agent wise and makes sense to seek the
becomes a hub of information. advice of one to get an idea of
the current trends and pricing
Contrary to some common for properties within that
misconceptions, real estate market.
agents typically represent the
seller or the buyer but rarely A good real estate agent will
both. know the prices (or price range)
of various properties of
Why Should I Use One... different types and at various
locations within the region.
First and foremost, to protect
Because of the real estate the real estate agent is able to
agent's knowledge and expertise, successfully complete the
property sellers often get a few transaction the commission is
thousand dollars more for their earned and the real estate agent
property. is paid...
Many home seekers, including and secondly, if they make the
seasoned real estate investors customer/client happy they earn a
use the services of real estate good reputation and often receive
agents to locate the best real referrals (hence more business).
estate bargains in the easiest
and quickest manner. Worth Noting...
Furthermore, the best agents It is worth noting that there is
analyze the wants and needs of a a myth floating around that real
home buyer/tenant and provide estate agents only work on behalf
valuable input as to the kinds of of the seller, buyer beware.
properties available to them
within their budget. Therefore, a This is not written in stone nor
good real estate agent will not is it always the case. Real
just present a list of available estate agents are, in most
properties to the buyer/tenant regions, highly regulated.
but will actually discuss their
needs and make suggestions. With few exceptions, real estate
agents work either for the seller
The good real estate agent, (as is the case with many listing
working in this manner benefits agents) or for the buyer (as is
in at least two ways... the case for a buyer's agent).
First and most obviously, when Additionally, some areas allow
for dual agency where an agent and ethics do not permit the
can work for both the seller and agent to act in favor of either
the buyer or as a transaction party while in detriment to the
broker where the agent represents other.
the transaction itself and
neither the seller nor buyer If you are unsure of the
individually. relationship between you and your
real estate agent, do not
However, in the case of dual hesitate to ask.
agency/transaction brokerage,
note that rule, regulation (law)
About the Author:
Dave Jarvis is Broker and Owner of Realty Concepts, Inc. a Florida Real Estate Corporation. For Florida Real Estate see: http://www.rciflorida.com For Free Real Estate information see: http://www.realestateseekerusa.com For Free Mortgage information see: http://www.mortgageseekerusa.com
Read more articles by:
Dave Jarvis
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