Finding a Real Estate Agent
You have decided to sell your home and have made the decision to use a real estate agent. Choosing a real estate agent is a very important decision. They play a very important role in selling your home. Understanding the process of selling your home with a realtor or real estate agent is key. Here are a few things to help you understand what a real estate agent is, who they work for, and who gets your money.
In the world of real estate you will find the terms: Agents, Brokers, and Realtors. Understanding what each does will help you in the process of selling your home.
The Broker:
Think of the Real Estate Broker, as the Queen or King Bee. They have all the worker bees working around them. A Broker is a person licensed by the state to conduct a real estate business. Brokers are the owners of the real estate company. They may own their own company or own a franchise (ie. Century 21). The worker bees are the Agents.
The Agent:
This is the person you will have the most contact with. They handle the buying and selling of homes. An agent can also be called a sales associate. An agent is always associated with a Broker. An agent is like an employee of the broker, but can be considered an independent contractor.
Remember a Broker can also work as an agent, and usually do. The agent who you choose to put your house on the market is called the listing agent.
The Realtor:
If an Agent is an agent then who is a Realtor? A Realtor is a broker or agent who belongs to the local or state board of Realtors which has an affiliation with the NAR (National Association of Realtors). These members must follow a code of ethics beyond state license laws. They also sponsor use of the Multiple Listing Service (MLS).
posted by Fsbo @ 12:37 PM
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