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Everything You Wanted to Know About REAL ESTATE AGENT and Were Too Embarrassed to Ask

Real auctions are professionals instrumental in connecting the customer 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 real estate agents must be highly educated, licensed and so 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 an associate of the National Association of Realtors which in addition to a amount of other requirements, requires Realtors to adhere to a strict code of ethics and will be offering 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 necessary to successfully conclude a transaction and charge a commission for their services.
For sales transactions, they charge commission to the seller while for rentals, commission is normally charged the landlord.
Real estate agents generally calculate their fee as a share of the value (in the case of a sale) and as part of the rent for rental units.

How Do They TAKE ACTION...

People who want to sell or rent their house 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 house by contacting the real estate agent.
That's how the agent becomes a hub of information.
Contrary to some typically common misconceptions, realtors typically represent the seller or the customer but rarely both.

Why MUST I Use One...

First and foremost, to protect yourself. Real estate transactions are highly regulated, highly paper (document) intensive transactions.
The true estate agent possesses a detailed 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 realtors are most familiar with local real estate market conditions, it really is wise and makes sense to seek the advice of one to get an idea of the existing trends and pricing for properties within that market.
A good agent will know the costs (or price range) of various properties of different types and at various locations within the region.

Because of the real estate agent's knowledge and expertise, property sellers often get a few thousand dollars more for their property.

Many home seekers, including seasoned real estate investors use the services of real estate agents to locate the best real estate bargains in easy and simple and quickest manner.

Furthermore, the very best agents analyze the wants and needs of a home buyer/tenant and provide valuable input regarding the kinds of properties open to them of their budget. Therefore, a good agent will not just present a list of available properties to the buyer/tenant but will in actuality discuss their needs and make suggestions.

The good agent, working in this manner benefits in at the very least two ways...
First and most obviously, once the real estate agent is able to successfully complete the transaction the commission is earned and the real estate agent is paid...
and secondly, should 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 surely is a myth going swimming that realtors only focus on behalf of the seller, buyer beware.
This is simply not written in stone neither is it always the case. Realtors are, in most regions, highly regulated.
With few exceptions, real estate agents work either for the seller (as is the case with many listing agents) or for the customer (as is the case for a buyer's agent).
Additionally, some areas enable dual agency where a realtor can work for both the seller and the buyer or as a transaction broker where the agent represents the transaction itself and neither owner nor buyer individually.

However, in the case of 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.
moving home When you are unsure of the partnership between you and your real estate agent, usually do not hesitate to ask.

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