How a Real Estate Agent Works


Real estate agents, also called realty brokers, are licensed professionals who facilitate property sales between buyers and sellers. They have many responsibilities including negotiating deals, finding clients, filling out paperwork and walking their clients through the closing process. They earn their commissions based on the amount of money they help their clients make in the transaction.

To become a real estate agent, new recruits must first pass their state’s licensing exam. Once they’ve done that, they must find a broker to work with who will guide them through their first few transactions. Once they’ve found a broker, they can start building their client base and showing homes.

For those buying a home, their agent will use the property’s zoning information to see whether any permits or allocations have been granted for a major renovation. If they find that there’s an issue, the agent will then guide the client to another property or recommend a different contractor for any needed work. Also read

In terms of selling a home, the agent will work with the property owner to determine an appropriate listing price for the house and then create a marketing strategy to find interested parties. Depending on the market, this may include open houses or a listing on a multiple listing service (MLS).

As the sales process moves forward, a real estate agent will act as a liaison between the buyer and seller by communicating offers, counteroffers and other questions back and forth. They’ll also help their clients arrange for home inspections, appraisals and other necessary services. They also take on the role of a project manager by shepherding the client through each step of the closing process, including meetings with mortgage lenders, title and escrow agents and their own brokerage firm.

If the agent is representing the buyer, they’ll also help their clients get preapproved for a mortgage and will be able to provide them with insight on the best mortgage lenders in their area. Similarly, an agent who is working with the seller will help their client find the best contractors for any necessary home repairs and provide them with advice on how to make the home more appealing to buyers.

One thing that all real estate agents must be skilled at is relationship development. After all, finding potential clients is the bread and butter of their career. They do this by using their sphere of influence, which is comprised of people they know — family, friends, neighbors, business associates and so on. They also develop a network of attorneys, mortgage lenders and contractors to whom they can refer clients for specific needs.


Leave a Reply

Your email address will not be published. Required fields are marked *