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