A real estate broker or an agent is a person who act on behalf of the buyer and the seller i.e. customer and the supplier. Real estate agent is otherwise called as „sales person“. More or less a sales person and the real estate agent are one and the same. They find the buyer and the seller who wish to buy and sell.
They provide you information regarding the property and guidance to assist you while you’re willing to buy and sell the property. We find real estate agent any where around the world to guide us. In America, the relationship of agent or broker has been formed as per English common law to have a cordial relationship with their clients. The term estate agent is used to refer the agent.
What is equity?
The term equity refers to the cash value or a monetary interest given for your house minus the loan you obtained for your house. Even the additional cost incurred for selling a house will also be included. While buying a home you don’t have money for down payment, you can enter an agreement with the seller that you pay in a proper sum. It allows you performing needed repairs and maintenances such as painting, electric work etc
In a real estate agent we have two types of agent: seller’s agent and the buyer’s agent.
Buyer agent: buyer agent is a person who acts on behalf of the buyer who wishes to buy. The agent will find the properties which are listed in the market for sale. The broker will act as per the desire of buyer. The real estate agent will provide information regarding each property in the market and they also guide you in every aspect. They recommend on behalf of the buyer about the terms & prices offered for sale. A real estate agent will help you while negotiating the transaction and guide you in the final process.
Seller’s agent: he is a person who acts as per the desire of the seller. If the seller wants to sell his property, he calls upon the agent to list in the market. The real estate broker will give you details regarding the worth of your property, financing, terms and condition prevailing in the market for your property. Even the brokers list your property to other agents and also to general public. They help you in all aspect to complete your sale.
Do you identify your agent, how?
Analyze properly in the market who is the ideal broker.
Make sure that his listing are brought and sold correctly in the market.
Ask him, how he will list your property in the market.
Ask him to describe, how he identified the true value of your house.
You can ask yourself a variety of queries to identify a proper agent. When you identified, you don’t have to worry how to buy or sell a house.
Brokerage: for completion of his work successfully, a broker or agent get commission or brokerage for the services rendered. The commission percentage will be decided upon the value of the property, he/she arranged for the seller or the buyer. Usually states like America they have a fixed percentage around 5 to 10% Commission for a real estate. Both the seller and the buyer have to pay the commission. They can even transfer among them self. Commission will differ for each country according to their popularity. The expenses incurred by the broker will also be paid by the buyer and the seller.
Thus, real estate is a type of business where three parties involved. Namely seller, buyer and the agent. With the help of this service many are benefited. Real estate agent plays a vital role in developing the economy of the people. They provide useful services for the economy. One wants to sell or buy a property he/she can refer a real agent.
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Source by Ron Victor