A Closer Look: What Is A Real Estate Agent?
A real estate agent is someone licensed to aid in real estate transactions. They’re also sometimes called “real estate associates” or a “real estate salesperson.” Agents have expertise in a specific location and a network which helps them bring buyers and sellers together.
When discussing real estate agents, it’s also helpful to understand the term “real estate broker.” Real estate brokers are like real estate agents, but with additional training and licenses. Unlike an agent, brokers can enlist real estate agents to work for them, either individually or through a real estate brokerage business.
In contrast, real estate agents cannot work independently and must work for a brokerage firm or real estate broker. The qualifications for becoming a licensed real estate agent varies by location, so research and understand the qualifications in your area.
Responsibilities Of Real Estate Agents
There are different kinds of real estate agents, all with varying responsibilities. A real estate broker, for example, may have a larger workload than a typical agent due to managing a business and other agents. This includes things like ensuring all real estate transactions are law-abiding and that paperwork is accurate and complete.
The kind of work a real estate agent does depends on whether they’re representing as a buyer’s agent or a listing agent. Buyer’s agents represent home buyers and aim to put their clients in their dream home that’s within budget.
Responsibilities of a buyer’s agent include:
- Finding local properties which match the home buyer’s preferences and price range
- Organizing house showings
- Keeping clients informed about the local housing market and goings-on
- Submitting bids and aiding in the negotiation process
- Arranging home appraisals and inspections
- Reviewing contracts, agreements and other documents
Listing agents, also called seller’s agents, represent the home seller during real estate transactions. Listing agents help clients sell their home for the best deal they can get.
Responsibilities of a listing agent include:
- Coming up with a reasonable yet enticing asking price
- Assisting with home staging and marketing
- Finding potential home buyers
- Bringing offers to clients and helping with paperwork and documents