Question 1

Who are real estate agents ?

Accepted Answer

Real estate agents are professionals who help individuals and businesses to buy, sell or rent properties. They are licensed by the State where they work and are paid on commission basis, which is a percentage of the sale price or rent of the property.
They either work for brokerage firms or are self-employed. With knowledge of the local real estate market, they offer guidance and advice to the clients on issues like negotiations, marketing and pricing.
They work along with the buyers and sellers to find and close deals on properties. They even show properties to the potential buyers, arrange the inspection and appraisal of the properties. They can handle negotiations between buyers and sellers. Other than that, they assist with the paperwork and legal aspects of the real estate transaction, such as getting the rent agreement done or sale deeds prepared.

Question 2

What are the types of real estate agents

Accepted Answer

There are many types of real estate agents, having their own expertise, focus and specialization. Following are some of the common types of estate agents,
Real estate brokers: They are licensed professionals, having completed additional training and education beyond that of a real estate agent. They can operate their own brokerage firms and employ other agents.
Dual agents: They act as an intermediary for both the buyer and the seller in a transaction. This type of arrangement is legal in some states. However, it can present conflicts of interest and may not be allowed in all situations.
Luxury real estate agents: They specialize in high-end properties, having expertise in marketing and selling luxury homes and estates.
Seller's agents: They focus on the interests of sellers, helping them market and sell their properties. They offer guidance on pricing, staging and marketing of the property to potential buyers.
Commercial real estate agents: They focus on commercial properties, like office buildings, retail spaces and warehouses. They have knowledge of zoning laws, leasing agreements and other legal and financial aspects of commercial real estate.
Buyers agents: They represent the interest of the buyers and help them find properties which meet their needs and budget. They even negotiate on behalf of the buyers and offer advice on the local market.

Question 3

How do real estate agents help their clients in buying or selling a property?

Accepted Answer

Licensed real estate agents connect the buyers and the sellers for transactions and even represent them in the legal negotiations. Usually, agents get commission, which is, the percentage of the sale of the house or a percentage of the monthly rent. The agent's percentage depends on the ongoing market rates and the brokerage percentage that is usually charged.
The agents offer expert advice and guidance throughout the process of buying and selling of a property, right from pricing to marketing them to negotiating with the best deal. Other than that, they even handle the paperwork and the legalities which are needed in the transaction, which saves time and stress of the buyer and the seller.

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Frequently Asked Questions