Realtors are professionals instrumental in connecting the buyer with the seller.
Additionally, many real estate agents manage rentals wherein they introduce tenants to landlords and oversee the maintenance from the property with respect to the landlords.
In many areas real estate agents are required to be highly educated, licensed and are regulated by a governing body.
Some real estate agents will also be Realtors.
To make use of the title Realtor, a real estate agent must be part of the nation’s Association of Realtors which in addition to a number of other requirements, requires Realtors to adhere to a strict code of ethics while offering Realtors additional educational and designation opportunities.
Though not required by rule or law, it may be a sensible decision to find the services of an agent.

What Do They Do….

Realtors bring together two or more interested parties, perform those steps necessary to successfully conclude a transaction and charge a commission for his or her services.
For sales transactions, you pay commission to the seller while for rentals, commission is usually charged the owner.
Real estate agents generally calculate their fee like a percentage of the value (in the case of a sale) and as part of the rent to rent units.

How Do They Do It…

Individuals who want to sell or rent their home leave information on their home using the real estate agent.
Along with all property details real estate agent will routinely have secrets of the house to facilitate showings.
Another interested party (i.e. the buyer/tenant), gets access to these details and to the home by contacting real estate agent.
That’s how the realtor becomes a hub of information.
Contrary to some common misconceptions, real estate agents typically represent the seller or the buyer but rarely both.

Why Should I Use One…

First of all, to protect yourself. Property transactions are highly regulated, highly paper (document) intensive transactions.
The real estate agent possesses an in depth knowledge of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction towards the satisfaction of the buyer, the vendor and also the law.

Because real estate agents are most familiar with local housing market conditions, it is wise and makes sense to find the recommendation of one to get an idea of the present trends and pricing for properties within that market.
A good realtor will know the prices (or price range) of various properties of different types and at various locations within the region.

Due to the real estate agent’s knowledge and expertise, property sellers often get a few thousand dollars more for his or her property.

Many home seekers, including seasoned property investors use the services of real estate agents to discover the best property bargains in the easiest and quickest manner.

Furthermore, the very best agents analyze the needs and wants of the home buyer/tenant and provide valuable input as to the kinds of properties at hand within their budget. Therefore, a good realtor will not just present a list of available properties towards the buyer/tenant and can actually discuss their demands making suggestions.

The great realtor, working in this manner benefits in at least two ways…
First and most obviously, when the real estate agent has the capacity to successfully complete the transaction the commission is earned and also the realtor pays…
and secondly, if they make the customer/client happy they earn a good reputation and frequently receive referrals (hence more business).

Worth Noting…

It’s worth noting that there’s a myth going swimming that realtors only focus on behalf from the seller, buyer beware.
This is not designed in stone nor is it always the case. Realtors are, in most regions, highly regulated.
With few exceptions, real estate agents work because of the seller (out of the box the case with many listing agents) or the buyer (out of the box the situation for any buyer’s agent).
Additionally, some areas permit dual agency where an agent can function for both the seller and the buyer or like a transaction broker where the agent represents the transaction itself nor the vendor nor buyer individually.
However, in the case of dual agency/transaction brokerage, note that rule, regulation (law) and ethics do not enable the agent to do something in favor of either party while in detriment towards the other.
If you are unsure of the relationship between you and your realtor, don’t hesitate to ask.

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Author: ombla3don

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