If you are a first-time buyer or seller or are not familiar with the various roles that real estate agents play these terms may be confusing.
Often people use the terms associate, realtor and agent interchangeably but they are all different titles when it comes to real estate professionals. Take a look at each one below.
Real Estate Agents and Their Roles
A real estate agent is a licensed expert that has undergone the necessary classes as well as passed the license exam of their state. He or she will monitor the activity of the local market and help sellers and buyers through their transactions via various ways resting on the role they take up in the process. To know more contact Suffolk County House Buyers Long Island New York.
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The agent will work solely in the home buyer’s best interest and guide them in every phase right from searching the home to closing up the transaction and more. The buyer’s agent merely put will,
- Guide you in getting your dream home
- Suggest experts like home inspectors
- Negotiate with the seller
- Assist with the paperwork
This agent will represent the seller and the buyer both within the same transaction. Take for instance one wishes to buy a home in Denver and has a dual agent she or he will also represent the seller that you buy the property from.
Here the agent will work solely in the home seller’s best interest guiding them through each step right from marketing the home to closing. In short, he will,
- Guide you in preparing to sell the home
- Show the house to the buyer
- List the house within the MLS
- Negotiate with the buyer
He or she will help a broker or an agent to process the administrative things for the real estate transaction which includes- collect all paperwork, open the escrow account, ensure that every disclosure is signed and filed correctly and also manage deadlines.
Defining Real Estate Titles
The very word real estate agent itself is quite broad including realtors, brokers, and associate brokers.
- Realtor – is a professional in real estate and a member of National Association of Realtors.
- Associate Broker – Just as agents they work under the real estate brokers yet have received the broker’s license thereby selecting to work under broker’s management.
- Real Estate Broker – They are real estate experts that have cleared the license examination for the real estate brokers. They have more education as well as possess higher responsibilities compared to an average agent because they are capable of owning their firm and managing the agent team under them. Every firm will have just one broker.
Hope these terms had been helpful for you to understand the various roles and titles of real estate agents. No matter the area you plan to buy or sell a home, it is best to consult a real estate agent. They can offer all the advice and information that you require to make sure that the transaction proceeds in a hassle-free way from the beginning until the end. Get in touch with them and discuss your goals.