In your mission to find a brand new home, the individual who can help you accomplish that mission is a real estate agent. The real estate agent will be hovering over different pictures of properties for sale with a smile on his face. He is a certified professional who is authorized to do the selling of real estate for the buyer, seller, and at times simultaneously. Thus, it would be worth your while to read about the different types of real estate agents and how they work so you can find one who will suit your qualifications.
Agents, Realtors, and Brokers
Each state requires realtors to have licenses, but not all of these licenses are the same. But you may have encountered other names or terms as well. Here’s a list of them:
Real estate broker – a real estate broker is someone who has met the requirements of the state to manage, operate, or own a real estate firm. Licensing requirements generally require some experience within the industry as sales agents, examinations, and advanced coursework. In a number of states, lawyers can serve as real estate brokers even when they have not worked as real estate agents. The real estate broker is the boss of the real estate firm, who represents all agents who are working there. Depending on your location, you may encounter brokers treated as qualifying brokers or principal brokers.
Real estate agent – he is somebody who has attended classes and passed the state-administered examinations to acquire a license and sell a property. Educational requirements for this job would cover specific real estate practices and laws. Real estate agents are linked to brokers and work under the broker’s instructions. Depending on your location, agents may be called sales agents, subagents, or salespeople and sometimes confused as brokers.
As you search for a home, you’d probably be working with a real estate agent. These agents will represent the seller and buyer of the house or both.
Seller’s agent – sales agents or listing agents are people who work exclusively as sellers. Oftentimes, you will be dealing with a seller through a seller’s agent. Except in situations where specific agreements with the agent have to be made so he can represent you as the buyer, it is safe to assume that the agents you will be working with are seller’s agents. Even if the agents didn’t really list the property of the sellers, any involved agent within the selling of the property is treated as subagents of listing agents.