Tumblelog by Soup.io
Newer posts are loading.
You are at the newest post.
Click here to check if anything new just came in.

May 18 2016


All About Real Estate Agents

Selling your house in princeton
Who Are They...

Real estate agents are professionals instrumental in connecting the buyer with the seller.
Additionally, many real estate professionals manage rentals wherein they introduce tenants to landlords and oversee taking care of the property for the landlords.
Generally in most areas real estate agents must be highly educated, licensed and therefore are regulated by a governing body.
Some real estate professionals are also Realtors.
To make use of the title Realtor, a real estate agent must be a member of the nation's Association of Realtors which as well as a number of other requirements, requires Realtors to stick to a strict code of ethics and offers Realtors additional educational and designation opportunities.
Though not essential by rule or law, it could be a wise decision to find the services of a Realtor.

List my house for sale

Exactly what do They Do....

Real estate agents bring together two or more interested parties, perform those steps necessary to successfully conclude a transaction and charge a commission for their services.
For sales transactions, it will cost commission to the seller while for rentals, commission is usually charged the landlord.
Real estate professionals generally calculate their fee as a percentage of the selling price (in the case of a sale) so when part of the rent to rent units.

How Do They are doing It...

People who recycle for cash or rent their home leave details of their home with the real estate agent.
In addition to all property details real estate agent will typically have keys to the house to facilitate showings.
One other interested party (i.e. the buyer/tenant), gets access to this information and to the house by contacting real estate agent.
That's the way the real estate agent becomes a hub of knowledge.
Contrary to some common misconceptions, realtors typically represent the owner or the buyer but rarely both.

How come I Use One...

Above all, to protect yourself. Real-estate transactions are highly regulated, highly paper (document) intensive transactions.
The real estate agent possesses a detailed knowledge of the laws, rules, regulations, disclosures and documentation essential to successfully complete the transaction for the satisfaction of the buyer, the vendor and the law.

Because real estate agents are most acquainted with local real estate market conditions, it is prudent and makes sense to seek the advice of one to obtain an idea of the current trends and pricing for properties within that market.
A great real estate agent will know the prices (or cost range) of various properties of numerous types and at various locations inside region.

Because of the broker'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 find the best real estate bargains in the easiest and quickest manner.

Furthermore, the best agents analyze the needs and wants of a home buyer/tenant and provide valuable input for the kinds of properties open to them within their budget. Therefore, an excellent real estate agent will not just present a listing of available properties towards the buyer/tenant but will actually discuss their demands and make suggestions.

The great real estate agent, working in this way benefits in a minimum of two ways...
First and most obviously, when the real estate agent is able to successfully complete the transaction the commission is earned as well as the real estate agent is paid...
and secondly, if they make the customer/client happy they earn a healthy standing and often receive referrals (hence more business).

Important to note...

It is worth noting that there's a myth floating around that real estate agents only work on behalf with the seller, buyer beware.
This is not written in stone nor is it always the case. Real estate professionals 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 the buyer (as is the situation for a buyer's agent).
Additionally, some areas permit dual agency where a realtor can work for both the seller and the buyer or as a transaction broker in which the agent represents the transaction itself nor the seller nor buyer individually.
However, in the case of dual agency/transaction brokerage, observe that rule, regulation (law) and ethics don't permit the agent to act in favor of either party whilst in detriment to the other.
If you are unsure of the relationship between you and your real estate agent, do not hesitate to ask.

Don't be the product, buy the product!