Everyone has a different approach when buying their property. There are certain things you should keep in mind before choosing the right agent for buying or selling your property. You may seek referrals from the people you can trust upon, as it can be quite difficult to contact good estate agents. The Internet has now made it easy to find agents however, it requires a lot of time and effort who planning to sell or purchase properties, for the first time. Here is a list of things to consider before you find an agent for your need.
- Understand the difference between agent, broker and realtor:
There are a number of times, when the terms, like commercial real estate broker, realtor and real estate agents are used. Therefore, here is a list of things to remember to clear the confusion about such mediators.
- Real estate agent: Real estate agents are the people who take basic training classes and have passed their state licensing exam. In general terms, anyone can be the sales agent and as they obtain their sales license, they become licensed brokers.
- Real estate brokers: Real estate brokers take some additional classes on various subjects and need to qualify their broker‘s license exam. Unlike the agents, brokers can open their office and sell properties without taking affiliation from anyone else. Moreover, the brokers need to continue their education, in order to keep their license activation.
- Realtors: Both the real estate agents and estate brokers are licensed one and legally represent properties to their respective clients. A realtor has to do things that agents and brokers in real estate companies will not be able to do alone. Realtors are paid-up members of the National Association of Realtors (NAR), who follow the strict Code of Ethics outlined by the organization. NAR has owned the realtor trademark and violation of that trademark is taken very seriously.
- Reason to choose buyer’s agents:
No matter, how many listings a broker or estate professionals have in hand, the real estate professionals do not like the idea of pursuing the would-be sellers only to achieve listings for sale. Some agents prefer only to represent transaction of their buyers and they even do not need any kind of additional licensing to be into their profession. Moreover, NAR has started specific course of study for the people, who want to earn ABR or Accredited Buyer’s Representative designation.
If you are buying home for the first time and want a middleman to represent your property, then joining any online estate agents could be a better option. Look for the agents, who have at least five transactions from the perspective of buyers in the past. Moreover, if the agent is also the member of NAR and Real Estate Buyer’s agent council, then you could rely on that agent easily. Such sales agents are geared to the first-time buyers and make loan process quicker.