Real estate involves more than just buying and selling homes or commercial property. Depending on whether a person is a real estate agent or real estate broker, their responsibilities can change.
Real estate agents are primarily involved in the buying and selling of homes or commercial property. They help clients wanting to sell a home decide what a good asking price is based on appraisals, the current housing market, and other things. They also help with advertising, as well as handle the showing of the property.
Depending on a state’s requirements, a real estate agent may only be able to deal with homes or buildings, and not vacant land. A real estate broker, however, can show or deal with both land and structures.
Once a prospective buyer enters into a contract on a home or property, the real estate broker conducts title searches, and performs other functions to ensure that the real estate in question is being sold legitimately. Brokers also work with buyers to complete the home buying process as much as possible before the final paperwork is signed.
Real estate agents and brokers may work for a company or they may be independent agents or brokers. Independent agents and brokers can show homes or property for a number of companies, rather than having to limit themselves to only those which are being handled by their companies. This can be an advantage for both the agent and broker and buyer, as they have the opportunity to view more properties than they might otherwise have.
Good real estate agents and brokers conduct business with the buyer or seller in mind, or they should. Yes, they earn a commission on every sale, but their main interest should be making sure an agreement is reached that will be benefit all parties involved.