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ToggleDiscover who is a real estate agent and unleash the power of property possibilities
Residential real estate is one of the fastest-growing industries in the USA and contributes significantly to the national economy. Its annual growth rate is estimated at 2.04%. In simple words, residential real estate is the buying, selling, and renting houses, condos, cooperatives, duplexes, etc.
Residential real estate is not everyone’s cup of tea. To successfully navigate the complex world of the real estate industry, you need the help of real estate agents. Real estate agents are licensed professionals with the education, training, and experience to help people buy, sell, and rent residential properties. They act as intermediaries between buyers and sellers and represent them in legal matters about the purchase or sale of a property.
Successful real estate agents are logical, convincing and know how to negotiate on behalf of their clients. Real estate agents receive a commission whenever a successful sale is made. The commission is usually a specific percentage of the total amount of the transaction.
Whether you are looking to buy or sell a house, real estate agents are your trusted partners throughout your journey. With years of experience and insight into the real estate industry, they will help you negotiate the best deal.
What Are The Specific Duties of A Real Estate Agent?
Buying or selling a home is a lengthy procedure that involves multiple steps. Real estate agents will take a considerable load off your shoulders. Their main responsibilities include the following:
- Organizing and attending open houses on behalf of the client.
- Scheduling house showing appointments with potential buyers.
- Using their resources, such as Multiple Listing Service (MLS), to list your home. Or using the same resources to find you suitable homes.
- Using their knowledge to determine a realistic price for your home. Most realtors use the Sales Comparison Approach (SCA) to determine a realistic price comparable to similar properties.
- Arranging home inspections and appraisals.
- Taking care of all the paperwork, such as mortgage loan documentation, disclosures, home insurance records, and property tax documentation.
Difference Between A Real Estate Agent and Realtor
- A real estate agent is a licensed professional who helps individuals buy, sell, and rent property. A realtor has a practicing license and is also a member of the National Association of Realtors (NAR). In essence, all realtors are real estate agents, but the opposite is not true.
- They both perform the same duties which we have mentioned above.
- Real estate agents have completed pre-licensing courses, passed national and state licensing exams, and they meet the obligation of maintaining an active license with their state’s real estate commission. Realtors meet the same educational requirements, but after every 3 years, they must complete an additional 2.5 hours of NAR Code of Ethics training.
- In some states, only realtors are eligible to access the Multiple Listings Service (MLS).
The importance of hiring a realtor for the success of your home buying-selling project cannot be overemphasized. The National Association of REALTORS (NAR) states that approximately 86% of home buyers and sellers hire a real estate agent to buy or sell their homes. An experienced and professional realtor will help you make the best decision.
Looking for a trustworthy realtor in Morris County? Contact Jackie Scura. We are an experienced team of real estate professionals who provide expert guidance and support throughout the home-selling process. Call us at 973-319-8334 for more information.