All about real estate agents
Real estate agents help people buy and sell houses. They must be able to say approximately how much money a house is worth. They need to know what the neighborhoods in their towns are like. Real estate agents are professionals who aid in connecting the purchaser to the seller. Several real estate agents also do rentals wherein they connect renters 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 only to the seller but for rentals (that is. agent managed rentals) the commission is charged to both parties involved in the transaction. Real estate agents normally calculate their fee as a percentage of the asking price (in case of sales) and as part of the rent (for rentals). People, who would like to sell/let their property, leave the details of their property with the real estate agent (and in fact, even leave the keys of the house so that the real estate agent may arrange for viewings without them getting into any trouble). The other interested party (that is. the purchaser/renter), gets access to this information by meeting the real estate agent. That’s how the real estate agents become a hub of information.
Several home searchers (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 area of operation, it makes sense to approach them to get an idea of the going rate for properties in that area. Real estate agents would normally know the costs of several properties of different types and at various locations in the region.
A property seller may perhaps 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 house purchaser/renter and provide suggestions on what sort of house could be available to them within their budget. So a good real estate agent won’t just give a list of available properties to the purchaser/ renter but will really 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 purchaser happy too they earn a good reputation (and hence more business).
However, it’s worth observing that real estate agents work on seller’s behalf. So, beware if they’re trying too hard to sell a property.