Using a Real Estate Agent

A real estate agent is a person (or a party) who acts as a mediator between the buyers and sellers of real estate. Besides this, the job of a real estate agent requires him to find sellers who need to sell, buyers who need to buy and bring them together to try and strike a deal.

Real estate brokers are different from salespeople. Aspiring agents need to undertake proper education before they can give an exam to become licensed real estate agents. 

There are various types of services that you can expect from a qualified agent, or a ‘broker’.

Some of them are:

• Comparative Marketing Analysis (CMA)
• Providing ‘real estate’ with exposure, i.e. introducing sellable property to prospective buyers.
• Facilitation Services, i.e. guiding a buyer and a seller through the process.
• Document preparation, i.e. preparing all the necessary paperwork for both parties.
• Conducting an Appraisal: In some areas, the real estate agent will require an additional licence of an ‘appraiser’.
• The agent is expected to provide you with home selling kits in order to help you guide through the process of buying and selling.
• Consultation.
• Property Management.

 

The above mentioned list may get bigger or smaller depending on real estate trends.

Agents are also required to fill out contract forms however they do not have any power to sign the deed themselves.

Services Common to Both Buyers and Sellers

A real estate agent, with the help of specialists needs to coordinate activities such as:

• Conducting Surveys.
• Conducting Formal Appraisals.
• Financing Buyers.

 

Real Estate Services for Sellers

Once the seller signs a ‘listing contract’ with an Agent (or the brokerage), he starts to look for a buyer, a buyer that will offer the highest price for that particular property.

To accomplish this particular goal, a real estate agent is required to do the following:

• Get the property as much exposure as possible through the use of Multiple Listing Services or any method.
• He’ll need to provide the seller not only with a property condition disclosure form but all other forms too that are needed for a successful transaction.
• Preparing advertisements for the property such as pamphlets.
• Putting up a ‘For Sale’ sign on the property along with contact information of the agent or the real estate office.
• The Agent can also go to the extent of organising an Open House to showcase the property.
• The agent needs screen the buyers for their financial abilities, if they are qualified to buy the property. The closing of a deal dependent much on the financial qualifications of a buyer.
• Negotiating the price on sellers’ behalf.

Real Estate Services for buyers

Using a Buyer Agent is advantageous in the way that they work to get the buyer, the best deal possible, help him avoid homes and areas that have a poor reputation in the market, ensure that he doesn’t pay anything more than required on the property and keep the buyer informed of adverse conditions.

Here is a list of services provided to buyers:

• Finding an appropriate real estate keeping in mind, the needs of the buyer, his specifications and cost.
• To show the buyer, all ideal properties that he has found.
• Negotiate prices on behalf of the buyer.
• Assist buyers to make an offer for a prospective property.