If you’re planning to buy or sell a home, a real estate agent is an invaluable resource. In fact, working with a trusted real estate agent can make the entire process a lot less stressful. But how exactly do these professionals work? What does their role in the real estate market entail? And how can you find the right agent for you?
Real estate agents are licensed professionals who get compensated for helping clients buy and sell property. They help with everything from listing a house to scheduling open houses, showing properties and digging up offers. For buyers, they can help with getting preapproved for a mortgage loan and finding the best homes that meet their budget. They also act as mediators during negotiations between sellers and buyers to create fair deals for both parties.
Many people who want to become real estate agents are tempted by the high earnings they hear about from top brokers. But getting a real estate license requires upfront monetary and time investments that can be similar to paying for college before you land a job. In addition, most brokerages require that new agents pay monthly desk fees to remain active. This can add up, especially if an agent isn’t able to close deals quickly enough. Also read https://www.libertyhousebuyer.com/sell-my-house-fast-warrington-fl/
In addition to marketing themselves and their brokerages, real estate agents must stay abreast of current market conditions. They can do this by keeping tabs on pending and sold properties and reading industry news. They may also help their clients understand the various components that go into pricing a home, such as property taxes, mortgage rates and local zoning laws.
Most states also require that real estate agents register with a state licensing board and have a clean record. Before you decide to work with an agent, check the licensing board’s website for disciplinary actions or complaints. Then, ask your potential agent to provide you with their license number and a copy of their real estate sales transaction history.
Regardless of how an agent gets their business, it’s their expertise that matters most. According to HomeLight, the top 5% of real estate agents sell homes for 10% more on average than their peers. The good news is that a strong relationship between an agent and their brokerage is important to success.
A brokerage can help an agent by providing them with support staff and resources, including tech and legal support, in exchange for a share of the agent’s commission fees. They can also help an agent with the transaction process by handling paperwork, running background checks and facilitating meetings. However, it’s still up to the agent to perform the bulk of the day-to-day tasks. Before hiring an agent, you should discuss communication preferences and determine whether they’re a good fit for your unique needs. For example, do you prefer to only communicate via text message or are you a first-time buyer who wants to set up showings during nonstandard hours?