It is never easy to buy or sell a house. A lot of factors must be considered, which can be very overwhelming, especially if you have no prior experience in this type of trade. Because houses are valuable assets, you must know who to ask for assistance in finding the right buyer or the perfect house.
Most of us find it better to consult professionals when dealing with real estate properties. Talking about professionals, the names that immediately come to mind are real estate agents and real estate brokers. But oftentimes, most of us get confused as to what exactly is the distinction between agents and brokers.
In this post, we will draw a clear distinction between real estate agents and brokers.
What is a real estate agent?
A real estate agent is someone who is licensed to help people sell, buy, or rent properties. An agent is in charge of connecting buyers and sellers in order to facilitate the sale of a property. Representing a buyer or seller during a transaction is also part of the job. An agent is required to complete training and licensing requirements.
Responsibilities of a real estate agent
These are the set of responsibilities that a real estate agent handles:
1. Show potential buyers a list of available properties on the market. A real estate agent should listen to a buyer’s preferences and locate a match within a market. The real estate agent will target specific neighborhoods and evaluate the property based on the interests of the buyer.
2. Make an offer and then negotiate. Once a buyer has decided on a property, the agent will make an offer and handle the negotiation. The agent is in charge of these transactions until both parties agree on terms.
3. Complete the transaction. It is the agent’s responsibility to assist both parties in finalizing the purchase. The agent assists in the finalization of paperwork, the facilitation of renovation or repair, and the closing of the deal.
What is a real estate broker?
Some people use the terms “agent” and “broker” interchangeably. However, a broker has completed more training and can work independently. A broker is an agent who continues one’s education and obtains a real estate broker license. Brokers can also own brokerage firms, oversee the events that occur within the firm, and offer assistance and mentoring to agents. They can also be responsible for supervising technical aspects of real estate transactions.
Types of a Real Estate Broker
There are three major types of real estate brokers, each with their own set of responsibilities.
1. Associate Broker. These are real estate brokers who prefer to work for another broker. Most of them choose to learn from experienced brokers before venturing out on their own. Agents are not supervised by associate brokers.
2. Managing Broker. These brokers hire, train, and manage agents. Managing brokers also supervise and manage transactions, as well as the day-to-day operations of the office.
3. Principal or Designated Broker. A principal or designated broker supervises real estate agents and ensures that they follow state and federal real estate laws.
Looking for Real Estate Agents and Brokers?
Real estate agents and brokers are both held to varying degrees of responsibility. A real estate firm provides services to its clients by utilizing the expertise and knowledge of both agents and brokers. The only question is, who do you call?
Remax Deluxe has the best agents and brokers in the South Shore area. Each of them specializes in real estate, land, and home sales. The firm is made up of a broker-owner and associates who strive to understand all aspects of buying and selling a home. Only in Remax Deluxe that you’ll find people who are willing to go the extra mile with you!
Contact us today so we can offer you the best deals!