Learning About Real Estate Agents
Real estate agents are professionals who help in connecting the buyer to the seller. A lot of real estate agents also do rentals wherein they connect tenants to landlords and even maintain the property on the behalf of the landlords. The real estate agents work by linking together the two interested parties and charging a commission for their services.
For sales, they charge commission to the seller but for rentals (i.e. agent managed rentals) the commission is charged to the landlord often inthe amount of one months rent or something as which is suitable. Real Estate Sales Representatives will often calculate their fee as a percentage of the selling price and as part of the rent when the property is a lease. Those who want to sell their property will leave details regarding the property with the Realtor (and in fact, even leave the keys of the house so that the real estate agent can arrange showings). The other interested party (i.e. the buyer), gets access to this information by contacting the real estate agent or buy looking online. That's how the Real Estate Sales Representative becomes a hub of property information.
A lot of home owners (including real estate investors) use the services of Real Estate Sales Representatives for getting good deals but also getting them quickly. Since Realtors are probably most familiar with the market situation in their area, it makes sense to talk with and get an idea of the current market situation. Real Estate Agents would generally know the prices of various homes of different types and at various neighbourhoods in the region.
A property seller can possibly get a few thousands more for his/her property by using the advice received from a good real estate agent. A good real estate agent will also analyse the needs of a home buyer/tenant and provide suggestions on what kind of home could be available to them within their budget.
So a good real estate agent will not just throw a list of available properties to the buyer/ tenant but will actually discuss their needs and make a suggestion. This, in fact, works in the favour of real estate agent in two ways. Firstly, if the real estate agent is able to sell the house they get their commission and secondly, if they make the buyer happy too they earn a good reputation (and hence more business).
However, it is worth noting that Real Estate Sales Representatives work on seller's behalf. So, beware if they are trying too hard to sell a property.
For sales, they charge commission to the seller but for rentals (i.e. agent managed rentals) the commission is charged to the landlord often inthe amount of one months rent or something as which is suitable. Real Estate Sales Representatives will often calculate their fee as a percentage of the selling price and as part of the rent when the property is a lease. Those who want to sell their property will leave details regarding the property with the Realtor (and in fact, even leave the keys of the house so that the real estate agent can arrange showings). The other interested party (i.e. the buyer), gets access to this information by contacting the real estate agent or buy looking online. That's how the Real Estate Sales Representative becomes a hub of property information.
A lot of home owners (including real estate investors) use the services of Real Estate Sales Representatives for getting good deals but also getting them quickly. Since Realtors are probably most familiar with the market situation in their area, it makes sense to talk with and get an idea of the current market situation. Real Estate Agents would generally know the prices of various homes of different types and at various neighbourhoods in the region.
A property seller can possibly get a few thousands more for his/her property by using the advice received from a good real estate agent. A good real estate agent will also analyse the needs of a home buyer/tenant and provide suggestions on what kind of home could be available to them within their budget.
So a good real estate agent will not just throw a list of available properties to the buyer/ tenant but will actually discuss their needs and make a suggestion. This, in fact, works in the favour of real estate agent in two ways. Firstly, if the real estate agent is able to sell the house they get their commission and secondly, if they make the buyer happy too they earn a good reputation (and hence more business).
However, it is worth noting that Real Estate Sales Representatives work on seller's behalf. So, beware if they are trying too hard to sell a property.
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