Real Estate Agents – Who are They and What is Their Role in the Home Purchase Process? Part 1
This is the first post in a four blog series. For more information on real estate agents, visit: Part 2 and Part 3.
If you’re buying a house for the first time, this question must have definitely come up in conversation. You’re looking for that perfect place to settle in with your family. Do you really need an agent to help you find what you’re looking for?
All are valid questions. But before we get into agent roles, let’s back-track a little bit.
A brokerage with buyer and seller agents.
The People:
It helps to first understand how real estate agencies function. A ‘broker’ is a professional who has been licensed by the state after going through some exams and certifications. More often than not, brokers open a brokerage or form real estate companies that hire licensees, in the form of associate brokers or sales associates, for the company. These associates are what we commonly call ‘Agents.’
Agent-Principal Relationship:
Agents serve as an intermediary between sellers and buyers of real estate, with a prime task of searching for sellers who want to sell their house, and buyers who wish to buy a home. The side that they represent is called the ‘Principal.’ What an agent does is speak on behalf of his/her principal with a prior understanding that includes confidentiality, full disclosure, care and accurate accounting, some of which may vary from state to state.
A real estate agent with her clients.
Do these real estate concepts seem simpler now? Are you ready to look for a new home? Express Realty Services is here to help you. With an in-house lender in place, we can help you go through the pre-approval process for no extra charge. Besides, we sell more than 30 homes a month, catering to a wide range of budgets. So we’re sure we can find one home that’s just perfect for you.
This series will be continued. For more information on the role and function of real estate agents, continue to read our blogs.
If you have any tips or suggestions that you’d like to share, please feel free to comment on this blog post.
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