 Sam
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 Posted: Sat Apr 03, 2004 3:55 am Post subject: Real Estate Agent |
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Real Estate Agent refers to a person having a state or provincial license for representing a buyer or a seller in real estate transactions in exchange of commission. Most real estate agents work for real estate brokers or realtors who are the members the National Association of Realtors.
For example, Smith wants to purchase a home from Jennifer. But he does not contact her personally, instead he appoints William to contact her. William finalizes the terms of the sale by discussing it with both the parties. Here, William acts as a real estate agent.
The real estate agents are the people with whom one has to deal in property transactions (buying or selling). There are real estate agents who work for buyers as well as sellers. In most cases, they work on a commission basis and their income depends upon their ability to find property suitable for their clients.
The real estate buyer's agent strives to obtain:
- The best price and terms for the buyers.
- Disclosure of all facts about the concerned property.
- Disclosure of personal facts of the borrower indicating that sellers may accept a reduced price.
The real estate seller's agent seeks to:
- Get the price and terms of sale as sought by the seller.
- Disclose the facts which are required by the buyer's agent.
- Avoid disclosure of personal information regarding sellers without their prior permission.
The real estate dual agent (who works for both buyers and sellers) strives towards:
- Non disclosure of personal information pertaining to either the buyer or the seller.
- Satisfying the interests of both the buyer and the seller of real estate.
A real estate agent makes the real estate transaction much easier for both the parties involved. Most people opt for such an agent in order to avoid a lot of paperwork that comes along with real estate transactions. |
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