Buying a Home with an Agent, Broker or Realtor It can be daunting to choose someone to represent you in a real estate deal. But thanks to the Internet, not only will you find a real estate office on nearly every corner, but you’ll also be able to access to an almost infinite list of prospective agents and brokers. Going through all of this can be time-consuming and full of pitfalls along the way, particularly for first-time home buyers. Fortunately, there are real estate professionals who can always help. The question is, do you get an agent, a broker or a realtor? A lot of times, these terms are used interchangeably and by people who don’t really understand their differences. For one, a real estate agent is a person who’s completed some basic training course and passed a state licensing exam. In other words, anyone can work as a real estate agent, provided they come under a licensed broker. As well, they need to complete a specific number of hours of continuing education courses as a requirement for periodic license renewal.
Properties – Getting Started & Next Steps
On the other hand, a real estate broker has to take more classes in varied subjects before being qualified to take the broker’s license exam, and continuing education courses for their license to remain active. However, unlike sales agents, brokers can work independently, that is, without being affiliated with another real estate professional.
What Research About Houses Can Teach You
In any real estate transaction, both brokers and agents will be able to represent buyers and sellers, provided they are licensed. One thing they are not allowed to do, however, is use the title, REALTOR(R), unless they are actually members of the National Association of REALTORS(R) (NAR). REALTOR(R) is basically a trademark owned by NAR, which follows a very strict Code of Ethics. A Buyer’s Agent and Reasons You Need One No matter the strength or weakness of the your target area’s housing inventory at any certain time, there are real estate professionals who are not keen on pursuing potential sellers for the purpose of racking up listings. However, some agents and brokers actually choose to represent strictly buyers, reason they are called buyers’ agents. They do not need a special license for this, but the NAR has instituted a certain course of study for those who want to be an Accredited Buyer’s Representative (ABR(R)). Aside from finishing this course, agents and brokers with this accreditation have also worked on a minimum of five transactions acting exclusively as the buyer’s representative. Definitely, they are also required to be members of good standing of NAR as well as of the Real Estate Buyer’s Agent Council. As a first-time home buyer, there is no doubt that having a buyer’s agent represent you, is a good step to take, what with their in-depth knowledge and experience with buyers and the buying process.

Author

lara