The Real Estate Broker VS Other Agents
Knowing the difference between a home broker from other agents will help many buyers and sellers who are looking to make a good property deal.
Agents
A general term for those who give real estate advice or manage transactions, usually for a commission. If a homeowner seeks advice he may want to make sure that the agent he goes to is licensed and can adequately address his concerns. One may check an agent’s name, license number and violations in most state websites.
Brokers
Middlemen who may negotiate the contracts of foreclosed homes and other property between buyers and sellers. In general, a real estate broker has formal education in real estate. They work alone or employ real estate salespersons. Qualifications for brokers may vary in each state.
Broker Associate
A real estate broker who works for a real estate company or another broker.
Real Estate Agent
Licensed salespersons who work for real estate brokers. Qualifications to be a real estate agent may differ from state to state.
Listing Agent or Seller’s Agent
When selling a foreclosed home, one can go to a listing to listing agent. They are the seller’s representatives who may be brokers or real estate agents.
Buyer’s Agent or Selling Agent
These are licensed agents who search, evaluate, and negotiate property in behalf of the buyer. An exclusive buyer’s agent only represents the buyer.
Dual Agent
When an agent acts as both seller’s and buyer’s agent, then he is a dual agent. This may happen when the seller’s agent and buyer’s agent are employed by the same home broker. This is not legal in all states though.
Transaction Agent
If dual agency is illegal, agents may choose to be a transaction agent or someone who simply facilitates the deal.
When making a transaction with an agent or a real estate broker, be sure to keep appointments and keep communication lines open. This simple tip may go a long way in securing a good property deal.
Related Posts:
Choosing Good Real Estate Brokers by Cassiano Travareli on February 17th, 2009
Is It Really Important to Hire a Real Estate Broker? by Cassiano Travareli on April 7th, 2009
Facts about a Real Estate Broker by Cassiano Travareli on June 9th, 2009
A Home broker with More Power by Cassiano Travareli on May 28th, 2009
A Property Showing Planning Guide for Real Estate Brokers by Cassiano Travareli on January 6th, 2009
December 2nd, 2008 at 1:00 pm
Hi. I am a long time reader. I wanted to say that I like your blog and the layout.
Peter Quinn
December 3rd, 2008 at 11:27 am
[...] unknown wrote an interesting post today onThe Real Estate Broker VS Other AgentsHere’s a quick excerptReal estate brokers are different from other agents. Knowing the right type of agent can help buyers and sellers transact with the appropriate person to help them land good property deals. [...]
December 3rd, 2008 at 11:39 am
[...] unknown wrote an interesting post today onThe Real Estate Broker VS Other AgentsHere’s a quick excerptReal estate brokers are different from other agents. Knowing the right type of agent can help buyers and sellers transact with the appropriate person to help them land good property deals. [...]
December 3rd, 2008 at 12:04 pm
[...] unknown wrote an interesting post today onThe Real Estate Broker VS Other AgentsHere’s a quick excerptA general term for those who give real estate advice or manage transactions, usually for a commission. If a homeowner seeks advice he may want to make sure that the agent he goes to is licensed and can adequately address his concerns. … [...]
December 3rd, 2008 at 12:45 pm
[...] unknown wrote an interesting post today onThe Real Estate Broker VS Other AgentsHere’s a quick excerptReal estate brokers are different from other agents. Knowing the right type of agent can help buyers and sellers transact with the appropriate person to help them land good property deals. [...]
December 3rd, 2008 at 1:07 pm
[...] unknown wrote an interesting post today onThe Real Estate Broker VS Other AgentsHere’s a quick excerptMiddlemen who may negotiate the contracts of foreclosed homes and other property between buyers and sellers. In general, a real estate broker has formal education in real estate. They work alone or employ real estate salespersons. … [...]
December 3rd, 2008 at 4:49 pm
[...] Original post by unknown [...]