With an overwhelming amount of information within the real estate industry, it can be daunting to keep track of what exactly an estate agent is responsible for. According to the National Association of Realtors, 89% of homeowners opt to work with an estate agent. The question is, what do they do that makes them such a popular choice? Let’s find out.
What is an Estate Agent?
First, it is important to understand what an estate agent is. By definition, an estate agent is an individual who is licensed to negotiate and arrange real estate sales. They serve to guide buyers and sellers through the buying and selling process and generally work to simplify each step for their clients.
Estate agents earn commission-based income that is taken out of the sale price of the home they sell. Typically, the percentage ranges from 3%-6%.
Estate Agent vs. Realtor
It is a common misconception that the terms, “estate agent” and “realtor” can be used interchangeably when they actually have two different meanings.
A realtor is an estate agent that is licensed through the National Association of Realtors (NAR), and they go through various training in order to maintain their relevancy and licensure. All realtors are real estate agents, but not all real estate agents are realtors, so it is important to know the difference before working with one to buy or sell your home.
Estate Agent vs. Broker
Brokers are also different from estate agents. In most cases, the agent works under the broker or as their assistant during the buying and selling process. Brokers have more extensive training and additional licensing, and they also receive a portion of the agent’s commission when not working independently.
You can choose to work with a broker instead of an agent, but it is important to know if you will be working with them directly. Many choose to meet with you first but then hand you off to an agent for the buying and selling process.
Estate Agent Responsibilities
Whether you are buying or selling, a trustworthy agent does well to make the process as simple as possible for you. Here is a general list of what you can expect them to do.
- Offer expert guidance and advice, as well as deep knowledge of the local laws and common practices.
- Take care of the paperwork, including drawing up and reviewing contracts.
- Answer all of your questions and educate you along the way, which can be beneficial to first time buyers or sellers.
- Provide support and make the process less stressful.
The Best Acton Estate Agents!
Now that you know what a reputable estate agent has to offer, chances are you are ready to hire one of your own. Consider checking out Citydeal Estates for your buying and selling needs! With multiple 5 star ratings on Google, it is no wonder these Acton estate agents were awarded gold in the British Property Awards.
Give them a ring to see how they can benefit you today!
