Why ues a Realtor when selling?

One of the most complex and important financial events in peoples  lives is the purchase or sale of a home or investment home. Because of this complexity and importance, people usually seek the help of real estate brokers and sales agents when buying or selling real estate.

Real estate real estate brokers and sales agents have a thorough knowledge of the real estate market in their community. They know which neighborhoods will best fit clients  needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Agents and real estate brokers also act as intermediaries in price negotiations between buyers and sellers.

Real estate agents usually are independent sales workers who provide their services to a licensed real estate broker on a contract basis. In return, the real estate broker pays the agent a portion of the commission earned from the agentís sale of the home. Brokers are independent businesspeople who sell real estate owned by others; they also may rent or manage homes for a fee. When selling real estate, real estate brokers arrange for title searches and for meetings between buyers and sellers wherein details of the transactions are agreed upon and the new owners take possession of the home. A real estate broker may help to arrange favorable financing from a lender for the prospective buyer; often, this makes the difference between success and failure in closing a sale. In some cases, real estate brokers and agents assume primary responsibility for closing sales; in others, lawyers or lenders do so. Brokers supervise agents who may have many of the same job duties. Brokers also manage their own offices, advertise homes, and handle other business matters. Some combine other types of work, such as selling insurance or practicing law, with their real estate business.

Besides making sales, agents and real estate brokers must have homes to sell. Consequently, they spend a significant amount of time obtaining listingsagreements by owners to place homes for sale with the firm. When listing a home for sale, agents and real estate brokers compare the listed home with similar homes that recently sold, in order to determine a competitive market price for the home. Once the home is sold, the agent who sold it and the agent who obtained the listing both receive a portion of the commission. Thus, agents who sell a home that they themselves have listed can increase their commission.

Most real estate brokers and sales agents sell residential home. A small number, usually employed in large or specialized firms, sell commercial, industrial, agricultural, or other types of real estate. Every specialty requires knowledge of that particular type of home and clientele. Selling or leasing business home requires an understanding of leasing practices, business trends, and the location of the home. Agents who sell or lease industrial homes must know about the regionís transportation, utilities, and labor supply. Whatever the type of home, the agent or real estate broker must know how to meet the clientís particular requirements.

Before showing residential homes to potential buyers, agents meet with them to get a feeling for the type of home the buyers would like. In this prequalifying phase, the agent determines how much the buyers can afford to spend. In addition, the agent and the buyer usually sign a loyalty contract which states the agent will be the only one to show houses to the buyers. An agent or real estate broker uses a computer to generate lists of homes for sale, their location and description, and available sources of financing. In some cases, agents and real estate brokers use computers to give buyers a virtual tour of homes in which they are interested. With a computer, buyers can view interior and exterior images or floor plans without leaving the real estate office.

Agents may meet several times with prospective buyers to discuss and visit available homes. Agents identify and emphasize the most pertinent selling points. To a young family looking for a house, they may emphasize the convenient floor plan, the areaís low crime rate, and the proximity to schools and shopping centers. To a potential investor, they may point out the tax advantages of owning a rental home and the ease of finding a renter. If bargaining over price becomes necessary, agents must follow their clientís instructions carefully and may have to present counteroffers in order to get the best possible price.

Once both parties have signed the contract, the real estate broker or agent must make sure that all special terms of the contract are met before the closing date. For example, the agent must make sure that the mandated and agreed-upon inspections, including that of the home and termite and radon inspections, take place. Also, if the seller agrees to any repairs, the real estate broker or agent must see that they are made. Increasingly, real estate brokers and agents are handling environmental problems as well, by making sure that the homes they sell meet environmental regulations. For example, they may be responsible for dealing with lead paint on the walls. While loan officers, attorneys, or other persons handle many details, the agent must ensure that they are completed.


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