A real estate agent helps home buyers and sellers navigate the process of buying or
selling a property. They can help with market research, finding properties that fit
their clients’ needs and negotiate on their behalf. They also handle the paperwork,
convey communications between parties and advise on inspections and other issues
that arise during a sale.
Real estate agents generally have to be licensed in their state and complete
coursework or an exam. They may be part of a brokerage firm and may specialize in
residential or commercial real estate. Depending on the state, some have additional
requirements for licensure or certification such as a background check or proof of
insurance. For more https://www.turnerrealtyteam.com/real-estate-agents-wilmington-nc/
The role of a real estate agent is to serve the best interests of their client, whether
that’s a buyer or seller. A seller’s agent will advise on how to prepare a home for
sale and provide tips on upgrades that can boost the value of the property. They will
also use market data to establish an asking price for the property and promote it
through listing services, networking, advertisements and open houses.
Similarly, a buyer’s agent will research properties that meet their clients’ criteria and
help them understand how a mortgage works, including calculating the estimated
monthly payments. They will arrange tours of homes and assist with home
appraisals and inspections, helping their clients make informed decisions about the
property and its amenities. During negotiations, they will carry offers and
counteroffers back and forth until a deal is reached.
As part of their job, real estate agents often have to explain confusing or complex
terms and tasks to their clients. This can include explaining the difference between a
pending and contingent sale or why it’s important to get title insurance.
Licensed real estate agents sometimes have relationships with other professionals in
the industry such as lenders, appraisers and inspectors who they can refer to their
clients for services. They also have access to databases such as the Multiple Listing
Service (MLS) that can give them information about properties that aren’t publicly
available.
The MLS can also tell them whether a property is a short sale or
foreclosure. Some agents choose to work as “dual agents,” representing both the
seller and the buyer in a transaction, but this must be disclosed to all parties. Others
choose to work as “transactional agents,” working with both sides of a transaction
but having no fiduciary responsibility to either party. It is important for potential
homebuyers and sellers to ask their agents if they will be their transactional agent or
dual agent, and how they plan to manage this relationship. You should also request
that they sign a form of disclosure that outlines their duties.