7 Rules About REAL ESTATE AGENT Meant To Be Broken

Real estate agents 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 of the property with respect to the landlords.
In most areas realtors are required to be highly educated, licensed and are regulated by way of a governing body.
Some real estate agents may also be Realtors.
To use the title Realtor, a real estate agent must be a member of the National Association of Realtors which and a amount of other requirements, requires Realtors to adhere to a strict code of ethics and offers Realtors additional educational and designation opportunities.
Though not necessary by rule or law, it may be a wise decision to get the services of a Realtor.

What Do They Do….

Real estate agents gather several interested parties, perform those steps essential to successfully conclude a transaction and charge a commission for their services.
For sales transactions, they charge commission to owner while for rentals, commission is typically charged the landlord.
Realtors generally calculate their fee as a percentage of the value (in the case of a sale) and as part of the rent for rental units.

How Do They TAKE ACTION…

moving home 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 routinely have keys to the house to facilitate showings.
The other interested party (i.e. the buyer/tenant), gets access to 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, real estate agents typically represent owner or the customer but rarely both.

Why MUST I Use One…

First and foremost, 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 essential to successfully complete the transaction to the satisfaction of the customer, the seller and the law.

Because real estate agents are most familiar with local market conditions, it really is wise and makes sense to seek the advice of one to obtain an idea of the existing trends and pricing for properties within that market.
A good real estate agent will know the costs (or price range) of various properties of different types and at various locations within the region.

Because of the property agent’s knowledge and expertise, property sellers often get a few thousand dollars more for his or her property.

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

Furthermore, the 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 real estate 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 real estate agent, working in this fashion benefits in at the very least two ways…
First and most obviously, once the real estate agent can successfully complete the transaction the commission is earned and the true estate agent is paid…
and secondly, if they make the customer/client happy they earn a good 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 focus on behalf of the seller, buyer beware.
This is simply not written in stone nor is it always the case. Realtors are, in most regions, highly regulated.
With few exceptions, realtors work either for owner (as may be the case with many listing agents) or for the buyer (as may be the case for a buyer’s agent).
Additionally, some areas allow for dual agency where an agent can work for both seller and the buyer or as a transaction broker where the agent represents the transaction itself and neither the seller nor buyer individually.

However, regarding dual agency/transaction brokerage, remember that rule, regulation (law) and ethics do not permit the agent to act in favor of either party during detriment to the other.
For anyone who is unsure of the relationship between you and your agent, usually do not hesitate to ask.

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