| People who are involved in active buying and | | | | acts as a negotiator and an intermediator |
| selling of real estate properties to earn | | | | between real estate investors. They also act |
| profits (commission) are called realtors or | | | | as advocates to their clients and give |
| more commonly had known as real estate | | | | appropriate advice and provide services on |
| agents. You could choose to be an agent of a | | | | related issues like finance and mortgage |
| seller or a buyer or could be both-a dual | | | | loans. An agent or a broker plays the key |
| agent. Another option would be a transaction | | | | role in the real estate industry. He not only |
| agent. | | | | helps the clients to market the property at a |
| | | | profitable rate or buy a real estate property |
| A sellers agent works on behalf of his | | | | at a competitive price but also facilitates |
| clients to sell the real estate property at | | | | other services like leasing, appraisal of |
| the best possible market value. While on the | | | | properties (only if he is licensed as an |
| other hand, a buyers agent works in the best | | | | appraiser), necessary documentation, |
| interest of clients who wish to buy real | | | | comparative market analysis and auctioning of |
| estate property, which is within their | | | | the property. |
| budget. Agents are usually paid a fair share | | | | |
| from the settlement of transaction as their | | | | Although the real estate agents represent and |
| commission. In a situation when a sellers | | | | act on behalf of their clients, they do not |
| agent also performs the role of a buyers | | | | have the authority to sign the real estate |
| agent in a single transaction, he is | | | | deed. Only the respective buyers or sellers |
| considered as a dual agent. The difference | | | | are considered as legal signatories of the |
| between a buyers or sellers agent and a | | | | deed. In order to play the role of a real |
| transaction agent is that the former work on | | | | estate agent successfully, the broker must |
| contractual basis with their clients while | | | | make the most of his other business skills |
| the latter only agrees to work in the best | | | | like negotiating a deal which is beneficial |
| interest of their customers. Whatever the | | | | to everyone and being able to convince the |
| choice, every agent is expected to be fair | | | | client of the offer. |
| and honest in dispensing his duties towards | | | | |
| his clients and dealings with the other | | | | To earn his commission, an agent must be able |
| agents. | | | | to find a potential buyer for his clients |
| | | | property or vice-versa. To execute this, he |
| Agencies that appoint different sales | | | | may have to employ different methods of |
| associates are called designated agencies. | | | | advertising the property to the public such |
| Real estate companies and its associates are | | | | as listing the property on a Multiple Listing |
| usually members of a national or local body | | | | Service, holding an open house, ensuring that |
| of legal associations, which govern their | | | | the buyers have the financial resources, |
| moral code of conduct and professional | | | | communicating and scheduling appointments |
| ethics. A realtor may accredit his business | | | | with prospective buyers or sellers. |
| with professional degrees and educational | | | | |
| programs related to listing, buying or | | | | An agent earns his reward for the services |
| selling, investment, and taxes. | | | | provided by him, in the form of commission, |
| | | | which are usually negotiable and depends on |
| An agent can be involved in residential as | | | | the success and satisfactory settlement of |
| well as commercial real estate dealings. He | | | | the deal. |