To the untrained, a real estate broker may seem like a sort of modern wizard. Moving real estate can seem a little bit like moving mountains. In a sense, that is exactly what is going on because it is impossible for someone without the proper knowledge to do it well. You need not remain mystified forever, especially if you are interested in getting into real estate investment. In order to learn the magic, you first must learn what it is that the magicians are doing.
Basically, a real estate broker is a person or agency who has the legal and financial knowledge to help clients while they are attempting to sell or buy a home. The real estate sale is, in a way, organized directly by them. This is the person or agency, of whom the real estate agency employs. Brokering does require a select type of license and uses a higher level of agent, not a salesperson. Thus, all brokers can be agents, but not all agents can be brokers.
As a service for the person who is selling the home, the broker will have the property placed in the local real estate listing, as well as provide the necessary paperwork to get the process started. They will also perform sales and marketing activities, including holding an open house and advertising the intended sale of the property. Buyers will also be screened to make sure they have the money to follow through with the purchase. This saves the seller from being subjected to “curious” people who have no real intention to buy, and are basically there wasting the seller’s time. A listing agreement will be signed by the seller purchasing these services from a brokerage.
If you can find a real estate broker who works only with buyers (yes, some of these firms do actually exist) and you have them sign a contract with you for you real estate sale, you will be able to count on the broker to do things for you that they otherwise may not do. One of these services is to find properties that fit your financial profile and escort you around to look at the properties. Otherwise, the broker may actually be working for the seller and that won’t help you out a great deal. If you are interested in real estate investment, it will be in your best interest to find a broker you can work with on a regular basis.
The real estate broker may orchestrate closing for either side, as well as possibly being the negotiator for the real estate sale. It’s also possible that they may set the client up with other important professionals like lawyers and loan officers. A broker’s payment can be defined as a commission based on the amount realized out of the sale of the real estate.
Regardless of whom your real estate broker is working for, it is good to understand the process for yourself, if even on a very basic level. At the very least, you need to know how to make sure the broker is working for you if you want the benefit of her negotiation skills during the real estate sale. Otherwise, those skills may actually be used against you. Take a little time to find out what services you are going to receive and where the broker’s loyalties lie. This is even more important if you are thinking of real estate investment. Time spent educating yourself can save you a great deal of money in the end.
Charlotte Neuhouse is an experienced real estate broker in the Placer County real estate market. When in need of a qualified Roseville realtor Charlotte recommends Dayna Neuse, Realtor for a Cure. Dayna specializes in reselling Roseville California homes, and surrounding areas of Granite Bay homes and Loomis real estate.
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