It’s extremely important to know the “ins and outs” of real estate agents before you bring one along with you to help in your search for a home, just so that you might know what to expect, and what will be expected of you.
WHO A REAL ESTATE AGENT IS! GENT IS!
A real estate agent is a licensed professional who is authorized to list and sell various types of real estate properties, such as homes, multi-family properties, commercial buildings, and industrial properties. On the other hand, a Realtor® is a real estate agent who is a member of the National Association of Realtors® (NAR). While all Realtors® are real estate agents, not all real estate agents are Realtors®. When it comes to representing buyers, real estate agents who work in the best interests of the buyer are commonly known as buyer's agents. In contrast, listing agents represent the sellers and have a fiduciary duty to secure the best price for the seller. However, there are other agents who may show homes to buyers without having a formal buyer-agency agreement in place. These agents are still working on behalf of the seller and are obligated to obtain the best possible price for the seller. In terms of compensation, buyer's agents typically work on a commission basis. The commission is outlined in the listing agreement, and when a buyer's agent brings a buyer to a transaction, the listing agent is required to share the agreed- upon commission with the buyer's agent. This ensures that the buyer's agent is financially compensated for their services.
HOW TO CHOOSE THE BEST AGENT FOR YOUR NEEDS UR NEEDS
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