You’ve probably used one, you’ve likely met one, you might be friends with one, or maybe someone in your family is one.
A Real Estate Agent.
In today’s Real Estate Dictionary 101, we will discuss what a Real Estate Agent does, why you need one, and why a Real Estate Agent is not necessarily a REALTOR®.
Why do I need a Real Estate Agent?
Regardless of which side of the transaction you are on, Buying or Selling, I’m going to bet you don’t buy or sell real estate every day.
You wouldn’t go to a restaurant and expect to cook your own meal, you wouldn’t make repairs to your own roof, and you wouldn’t perform surgery on yourself because there are experts in these fields to do these things for you. It’s the same with real estate.
Yes, you could sell or buy a home on your own, but it’s a lot less stressful when you have an expert on your side who has seen every possible complication that could come your way and who knows how to avoid or deal with those complications.
Real Estate Agents are licensed and experienced in the home buying and selling process. We know the ins and outs of the industry. We study the market. We know the legal processes. We come prepared.
What does a Real Estate Agent do?
According to Investopedia.com, a Real Estate Agent is “a licensed professional who arranges real estate transactions, putting buyers and sellers together and acting as their representative in negotiations.”
Some of the things Real Estate Agents do:
Provide the necessary info. to help sellers set an attractive list price that isn’t too high or too low
Provide the necessary information to educate buyers on a reasonable offer price
Offer tips on how to prepare a home to sell
Market the home for sell
Search the market for homes in your price range with the amenities you’re looking for if you’re a buyer
Do research on the history of a home
Manage all the paperwork in a transaction
Assist in comparing offers
Act as communication liaison between buyers and sellers, as well as with the lender and title company
What is a REALTOR?
Basically,
Every REALTOR® is a Real Estate Agent, but not every Real Estate Agent has become a REALTOR®.
In order to become a Real Estate Agent you must take the classes and pass the exams to get your license, pay your dues, and join your local Real Estate board.
In order to become a REALTOR® you must first be a real estate agent, and then you must apply to become a part of the National Board of Realtors. As a REALTOR, you are expected to uphold your duties to your local board, as well as, the National Association of Realtors (NAR). There is an even higher professional standard for Realtors® than Real Estate Agents.
When you’re ready to hire a Realtor® call me, Jill Bell, at 479.799.3023.
