Real estate can get really stressful. It’s between setting up your home for showings, trying to figure out where you’re going to make compromises, and making a huge life-changing decision.
Whether you’re thinking of buying or selling your home, you want someone you can trust. You need a person who understands how the market works and is experienced enough at negotiating. You want someone who can definitely reduce your stress. However, there’s tons of conflicting information about the types of real estate agents out there. So how do you pick the right one?
For any first time home buyer or those unfamiliar with the different roles of real estate, the terms can become confusing. How would you know if someone is a broker or a real estate agent? What is the difference between the two?
Though many people use the terms agent and realtor interchangeably, these are actually different titles for every real estate professional. By reading this, we hope to eliminate the confusion by explaining the various types of real estate agents and the different titles each estate professionals have. So how do you choose one? Should you go with a real estate broker or a real estate agent? And what are their responsibilities?
Real Estate Agent Vs. Real Estate Broker
Here in the country, the differences between the two types of professionals, the agent, and the broker. Generally, a real estate broker runs the real estate agency but must pass an exam first to be licensed as a broker, while a real estate agent must pass the requirement of PRC (Professional Regulatory Commission) and be licensed to sell a property.
The real estate broker is the person leading the entire real estate firm. This person means the whole operation. They’ve already taken coursework to ensure they can effectively manage a real estate firm. This person also takes responsibility for all of the real estate agents he/she employs. All brokers must have a particular license before handling a real estate firm, and some licensed brokers can choose to work in someone else’s firm. In this case, they’re actually called an associate broker.
On the other hand, the real estate agent must meet the regulatory board requirements for getting a license to sell a property. The agent usually works under a broker, and sometimes are called real estate salespeople or sales agents. When it comes to buying or selling a home, you’ll probably get to work with a real estate agent who generally works for a real estate agency handled by a broker. The real estate agent is the person you’ll work with most of the time. They’ll be on call to help you with any questions you have.
Choosing the Right Type of Real Estate Agent
Some real estate agents may claim that they specialize in both the buying and selling the part. But the best professionals really stick to only one type of lane or the other. Having the right real estate agent can get you in or out of a home smoothly. Having a bad one can just bring on a number of headaches that might cost you a lot of time and money. So how can you ensure you get the best results, regardless of the type of real estate agent you’re working with?
Real estate agents are experts in local real estate. They always monitor the market and look for housing trends like the prices, inventory, location, and so on. An agent also tells you about available houses in your price range and takes you on different home tours that might interest you. Much of an agent’s task is taken up by phone calls, meetings, and home visits.
But the bottom line is, you can’t just pick any old seller’s or buyer’s agent out of the phone book. There are differences between each type of real estate agent. Don’t just leave one of your biggest life-changing decisions to the first agent that comes along, or else you would end up losing money and starting over with a new agent, and no one wants that.
Conclusion
So it’s best to carefully consider the pros and cons of having an agent who specializes in sales, purchases, or both. Research what they’ve done historically in your particular area, how they’ve worked with other clients in the past, and their experiences. Then, after all of that research, choose someone whom you’re comfortable working with for at least a month and see where it gets you.