· Tips for Choosing the Right Realtor
· Questions to Ask Brokers
· Broker Associates
· Written Contracts
Suggestions for Selecting the Best Professional
When choosing a real estate professional, it’s important to know the difference between a broker and an agent. Real estate brokers are licensed experts who help prospective home buyers and sellers. Agents are licensed specialists who work under brokers’ supervision. When a real estate agent sells a house or assists a buyer, the broker pays him part of the commission earned. Both agents and brokers receive commissions for the services they supply.
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Questions for a Real Estate Broker
Brokers, being real estate professionals, really know their stuff, but it’s still a good idea to have a list of questions for those one is going to interview. A good question is about how many homes he sold in the past year. Getting this sort of information can aid in determining how well he’s been functioning in the market. Also, ask about what his commission is, as there is no universal rate for this. Wondering aloud how he’s going to market one’s home is also wise, but most importantly, ask for a list of references.
Clarifying Real Estate Jargon
What in the world is a broker associate? It sounds important, but what does it really mean? Is such a person one of the real estate professionals people deal with when buying or selling a home? It certainly sounds like he may be, but in reality, he’s not any different than a regular real estate agent; only the title is different. Other names for him may be real estate consultant or realtor, but they’re all agents, so don’t let a title fool one into believing the person he’s working with is more than that.
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Written Real Estate Agreements
Real estate contracts can be between buyers and the real estate professional services they hire, a broker and an agent, or a seller and an investor, or between any of those parties. The important thing here is to be certain that the agreement is clearly understood among all parties and that it is signed by all parties. Additionally, an agreement must be sealed with cash, services, or goods to make it official and legally binding.