Difference Between a Real Estate Agent and a Real Estate Broker

     Because they are licensed, real estates brokers can open an office independently, and real estate agents work for someone who has such a license. In addition, with the required years of experience and after passing the brokers exam, an agent can acquire a brokers license. Professionals in either category can represent consumers as a buyer’s agent

In order to establish training and experience requirements and make it possible to solve any problems consumers may have when buying property, most states require those involved in selling real estate to have a state license. The terms used in identifying these professionals vary slightly from one state to another, and in most cases, a broker must have more training and experience than a real estate agent.

Working with Sellers

Real estate agents agree to sell properties after inspecting them, and to determine their market price, they compare them with similar properties in the area that are currently up for sale. Agents may also suggest improvements property owners can make to give their homes “curb appeal” and increase their Market value. After photographing these properties and writing brief descriptions of them, they advertise them in real estate brochures, special mailings and local newspapers.

Agents also conduct “open houses” that give people an opportunity to visit homes for sale and ask questions about them. When a potential buyer makes an offer on a property, an agent discusses that offer with the seller, and it is either accepted or rejected. They also frequently negotiate with the buyer to get the best possible sale price for their client.

Working with Buyers

Before showing them any properties, agents consult with potential buyers to determine the kind of homes that interest them and what they feel they can afford. Then they search an array of computer listings to find suitable properties that meet that description. When visiting these homes for sale, agents answer questions and focus on the selling points, including location, that the buyer feels are significant.

Once a buyer has chosen a property, agents assist in closing the deal. If they are working with a first-time buyer, they explain what they buying process entails, assist their clients in completing the paperwork required in making a formal offer, and collect a down payment as well. They also contact the seller’s agent, and negotiate the price of this real estate with the seller, based on the instructions their client has given them. Prior to closing, real estate agents must ensure that every specific term in the contract has been met, such as completing repairs before the new owner moves in.

What you Should Know

Since real estate agents need properties they can sell, they look for people who are prepared to take that step. At times, property owners visit a real estate office to consult with an agent, but there are many other occasions when agents have to recruit possible sellers. Consequently, they communicate with homeowners by telephone or mail to find out if they are ready to sell their home.

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This post was written by a new home owner in Milton, Ontario. He used the services of Century 21 Future Realty to find his perfect home. They have current Milton listings at http://www.century21.ca/futurerealty or 174 Mill Street #201 Milton, ON L9T 1S2‎ (905) 875-2100.

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