Realtors are professionals that help buyers and sellers connect. A lot of Realtors also assist with rentals. They connect tenants with landlords and sometimes will maintain a property for the landlords. Realtors work by connecting together the two parties and charging a commission to help bring the deal together.
They charge commission only to the seller of a property but sometimes for rentals the commission is billed to each side of the transaction being the buyer and seller. Realtors often calculate the fee as a percentage of the closing price and as part of the rent when the deal is a lease or rental. Those who want to sell a property will leave the details of the property with the Realtor. The other interested party, gets access to this information by contacting the real estate agent or often by accessing it on the internet. That's how the Realtors become the central source of information.
A lot of home seekers (including real estate investors) use the services of real estate agents not just for getting good deals but also getting them quick. Since real estate agents are probably most familiar with the market situation in their region of operation, it makes sense to approach them to get an idea of the going rate for properties in that region. Real estate agents would generally know the prices of various properties of different types and at various locations in the region.
A home owner thinking of selling a property can get often get several thousand more for a property when following the advice received from a good Realtor. A good Realtor will also look at and follow the needs of a home buyer and try to make suggestions on the type of property that could be available within their budget.
So a good real estate agent will not only just throw a list of properties to the buyer but will also discuss their needs to make suggestions. This, in fact, works to the favour of the real estate agent. If the real estate agent sells the property they get their commission and if they make a new buyer happy they earn a good reputation (and hence more business).
However, it is worth noting that Realtors work on seller's behalf. Unless a Buyer Agency contract is signed. Finding the right Realtor to buy or sell your next house can make the process much easier and enjoyable.
They charge commission only to the seller of a property but sometimes for rentals the commission is billed to each side of the transaction being the buyer and seller. Realtors often calculate the fee as a percentage of the closing price and as part of the rent when the deal is a lease or rental. Those who want to sell a property will leave the details of the property with the Realtor. The other interested party, gets access to this information by contacting the real estate agent or often by accessing it on the internet. That's how the Realtors become the central source of information.
A lot of home seekers (including real estate investors) use the services of real estate agents not just for getting good deals but also getting them quick. Since real estate agents are probably most familiar with the market situation in their region of operation, it makes sense to approach them to get an idea of the going rate for properties in that region. Real estate agents would generally know the prices of various properties of different types and at various locations in the region.
A home owner thinking of selling a property can get often get several thousand more for a property when following the advice received from a good Realtor. A good Realtor will also look at and follow the needs of a home buyer and try to make suggestions on the type of property that could be available within their budget.
So a good real estate agent will not only just throw a list of properties to the buyer but will also discuss their needs to make suggestions. This, in fact, works to the favour of the real estate agent. If the real estate agent sells the property they get their commission and if they make a new buyer happy they earn a good reputation (and hence more business).
However, it is worth noting that Realtors work on seller's behalf. Unless a Buyer Agency contract is signed. Finding the right Realtor to buy or sell your next house can make the process much easier and enjoyable.
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