Different Types of Real Estate Agents
Real estate agents are cornerstones of the real estate world. Although it is possible to carry your investment deal without one, their presence will make the process much easier and would also be an advantage since they are more knowledgeable and experienced in the real estate field.
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There are different types of real estate agents and it is important to know the difference so as to know exactly who to hire when carrying out your real estate transactions. The following are the different types of real estate agents;
Realtors.
These are real estate agents who are members of the National Association of Realtors (NAR). They are more trustworthy and allows them to compete better in the real estate market. This is because they have certain standards of ethics and a strict moral code that they abide by. They have access to property listings that other agents do not have access to for example Multiple Listing Service (MLS) giving them greater access to homes on the market.
Brokers
They are real estate agents who have obtained a higher level of education and in the world of real estate. Some attorneys may qualify to become brokers. Once the brokerage license has been obtained, most brokers would become the owners and managers of their own real estate firms, this is because having a brokerage license is required for a real estate agent to own a firm.
Selling agents
They provide their services to people looking to sell their real estate properties. They represent the seller or the owner of the property being sold and will deal with potential buyers. A seller agent processes the marketing of the property, handle walk throughs and tours. They also research the market and compare the different prices of property to help determine the asking price. They present offers from potential buyers to the seller and help him decide on the best offer needed. They can also negotiate the terms of the sale on behalf of the seller.
Buying agents.
These are agents who help investors who are looking for a property to purchase in the market. He or she will help the buyer investor throughout the entire process of finding, analyzing and comparing a property as well negotiating the closing deal. He or she represents the investor during home inspections or negotiations. They listen to investors and understand their priorities and needs and help them achieve their goal. Buying agents contact seller agents and identify the best available deals. They also give suggestions for the financing of the investments and review disclosure statements and help investors understand what problems might exist on the property.
