You’ve certainly heard that hiring a real estate agent is a smart move if you plan to buy or sell a house within the next 12 months. Considering what do real estate agents do, it’s prudent to listen to what others have to say. A real estate agent acts as a mediator between a buyer and a seller during a real estate transaction.
Who does what specifically in the real estate industry?
A licenced real estate agent facilitates transactions between buyers and sellers of residential and commercial real estate. Your real estate agent will represent your interests in any negotiations with the seller of a home you intend to buy.
Real estate agents get commissions on closed deals, thus their earnings are proportionate to how well they do their jobs. If you decide to sell your home, your real estate agent will get a commission based on a predetermined percentage of the home’s ultimate selling price.
What duties do real estate brokers have to fulfil?
There are many different agents, each of which is responsible for its own unique set of tasks, but there are also responsibilities that apply to every agent. Here are a few of the most important responsibilities of a real estate agent that we’ll examine.
Real Estate Agents: The Many Kinds
Depending on their specific job titles, some agents have additional responsibilities on top of the ones stated above. The best way to learn about what real estate agents do is to read about the various functions they serve and how they contribute to the home-buying and selling processes.
Property Agent
A real estate broker is an agent who has also passed the relevant brokerage exam. They are fully licenced and qualified to work autonomously or as the head of their own brokerage. A broker may be expected to handle more administrative tasks than a regular real estate agent.
Real Estate Broker
The term “selling agent” refers to a real estate agent who works on behalf of a seller. They are responsible for many important tasks, such as arranging for a real estate photographer to take pictures of the home, creating a virtual tour of the property to be included in the listing, staging the home, and advertising it on social media to attract potential buyers.
The Buyer’s Agent
A buyer’s agent is a real estate agent who represents a homebuyer in a real estate transaction. They are experts in their field, devoting their time to tasks like searching for potential homes, scheduling showings, and advising customers on mortgage lenders.
Dual Role
A dual agent in a real estate transaction acts as an agent for both the buyer and the seller. Having a single agent represent both the buyer and the seller is frowned upon since it raises the possibility of a conflict of interest.
A commercial real estate agent’s duties
A commercial real estate agent is a real estate specialist who focuses on helping businesses buy and sell properties. A commercial real estate agent is the one you want to work with if you want to buy a property for the sole purpose of renting it out to others.
Residential and commercial real estate agents may focus on two different types of properties, yet their daily work is quite similar. Yet, commercial real estate agents often have the duty of leasing out available space in addition to buying and selling properties.