The Job of a Real Estate Agent & Broker
Because you can legally sell or buy your own home, many people often wonder what the job of a real estate agent is and if they even need to hire one.
If you happen to find your perfect house or are able to locate someone willing to pay your asking price for a home you are selling, then you may not need the services of a real estate agent – but you should still involve professionals who handle real estate, such as title companies, escrow companies, and a qualified real estate attorney. Of course, that would all be out-of-pocket expense with no assurance that the transaction would be successful.
If you are looking for the right home and have no idea where to start- then the services of an agent will be beneficial to you.
IN OUR MARKET, BUYERS DO NOT PAY A COMMISSION TO THE REAL ESTATE BROKER. There are rare exceptions, but in 99.9% of the transactions I’ve been involved in the Seller pays both the listing and selling brokers.
Sellers do pay a commission, but it is negotiable and should be in fact negotiated during the listing presentation. My experience is that no Seller has the time or resources to effectively market their home for sale. In either case, you are hiring a person who makes it their business to understand the complexities of the real estate market.
So, what is the job of a real estate agent? First and foremost, real estate agents have an understanding and insight into the local and national real estate markets. This includes median and average house prices, market values, price trends and other information about how the market is operating at that specific time.
You can use this knowledge to help locate a home for the price you want to pay or find an investment property with the expectation of how it will grow. Real estate agents also handle the searching and categorizing portion of house hunting, which saves you a great deal of time and effort.
They have the ability to help you negotiate prices once you have located a property to buy. The point of hiring a real estate agent is to make the entire process of buying or selling a home easier and less stressful for you.
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