You’ve likely heard that a real estate agent is necessary if you are looking to sell or buy a home. In real estate transactions, a real estate agent acts as an intermediary between buyers and sellers.
The National Association of REALTORS (NAR) reports that 87% of homebuyers are represented by brokers or real estate agents. What responsibilities does a real estate agent have? How can you benefit from working with one?
What is a Real Estate Agent?
A real estate agent is a licensed professional that assists buyers and sellers with real estate transactions. Your real estate agent acts as your representative and negotiator when you are buying or selling a house or piece of property.
Commissions are paid to real estate agents. Their income is dependent upon their ability to close deals. Your agent will receive a percentage of the sale price if your house is sold, so they have a huge incentive to get you the best price possible.
There are many types of licensed real estate professionals. A buyer’s agent, for example, is someone who helps a buyer navigate the home-buying process. This person is legally bound to protect the buyer’s rights and get them the best deal.
A listing agent, on the other hand, represents the seller in a real estate transaction. They are responsible for selling the property at the highest price and listing it.
Finally, a Realtor is a real estate agent who is also a member of the National Association of Realtors (NAR). A Realtor, a member of the NAR, is an active member of the organization who adheres to its strict code of ethics.
Commissions are paid to real estate agents. Their income is dependent upon their ability to close deals. Your agent will receive a percentage of the sale price if your house is sold, so they have a huge incentive to get you the best price possible.
There are many types of licensed real estate professionals. A buyer’s agent, for example, is someone who helps a buyer navigate the home-buying process. This person is legally bound to protect the buyer’s rights and get them the best deal.
A listing agent, on the other hand, represents the seller in a real estate transaction. They are responsible for selling the property at the highest price and listing it.
Finally, a Realtor is a real estate agent who is also a member of the National Association of Realtors (NAR). A Realtor, a member of the NAR, is an active member of the organization who adheres to its strict code of ethics.
What Do Real Estate Agents Do?
Although different types of agents have different duties, there are common tasks they all share. Let’s take a look at the main responsibilities of an agent in real estate.
A real estate agent is more than a broker who helps you sell or buy a house. Their main responsibilities include:
A real estate agent is more than a broker who helps you sell or buy a house. Their main responsibilities include:
- Open houses: Planning and attending.
- Set up showing appointments for potential buyers.
- Use the multiple listing service to search for or list your home.
- Estimating the value of a home. It is important to research comparable property sales prices and use the sales comparison approach (SCA).
- Schedule home inspections and appraisals.
- Complete the paperwork to make offers or to sign purchase agreements.
- Information is to be sent to the lender for the mortgage.
There are many reasons why hiring a real estate agent is a good choice for selling or buying a house. You get the benefit of their years of experience and expertise in the real estate industry.
An experienced agent can help you sell your house at the best possible price. You can also take advantage of the agent’s knowledge and network in your area, as well as their ability to negotiate with other agents.
An experienced agent can help you sell your house at the best possible price. You can also take advantage of the agent’s knowledge and network in your area, as well as their ability to negotiate with other agents.
Types Of Real Estate Agent
Agents have other responsibilities than those listed above. Some agents may also have additional duties depending on their job title. Doing your research is a great way to find out what real estate agents do and how they help with the home-buying and selling process.
Real Estate Broker
A real estate broker is a licensed real estate agent who has passed the brokerage exam. They can work independently or with their own brokerage. A broker may have greater administrative responsibilities than a regular real estate agent.
Seller’s Agent
A selling agent assists sellers in selling their homes. A selling agent is responsible for scheduling a photographer to photograph the home, creating a virtual tour of the property, staging it, and marketing the property via social media, among other tasks.
Buyer’s agent
A buyer’s representative is a professional who helps buyers buy a house. They are responsible for helping buyers choose the right mortgage lender, finding suitable properties, and scheduling viewings.
Before you can start working with a buyer’s agent, you will usually be asked to sign a buyer’s agency agreement. This contract will outline the length of your relationship with the buyer agent, the terms, and the commission they will receive.
Before you can start working with a buyer’s agent, you will usually be asked to sign a buyer’s agency agreement. This contract will outline the length of your relationship with the buyer agent, the terms, and the commission they will receive.
Dual Agent
In a real estate transaction, a dual agent acts as both the seller’s as well as buyer’s agent. Dual agency is frowned upon as it can lead to conflicts of interest if the seller and buyer don’t have separate representation. Dual agency can also be illegal in certain states.
Here is our pick for the best real estate agents in McMinnville, Oregon
McMinnville Real Estate | Doty Team
Established in 1998, the Doty Team from McMinnville Real Estate is a full-service real estate company committed to serving their clients, city, and community by providing a broad range of high-quality services. Dedicated to helping people achieve their dreams of home ownership, all agents excel in customer service and work hard to stay on the cutting edge of the industry’s ever-changing demands.
TOP AGENTS
Dom Doty
(503) 435-9070
(503) 435-9070
Devri Doty
(503) 435-7165
(503) 435-7165
Mackenzie Kauer
(971) 241-2066
(971) 241-2066