Real estate brokers…
A lot of stuff exists online about what real estate agent do exactly, the purpose of this article is to simplify things in a way that brings clarity to you regarding the value they bring to you. This is by no means everything you need to know (that would take to long) this is, however, enough to give you rough idea and aid you in deciding which one you want to work with.
See, when it comes to realtors (more commonly referred to as real estate agents), there are two main types. There are buyer’s agents and sellers agents, both of which can play a crucial rule in almost any transaction. A buyer’s agent works with the purchaser (hence the name buyers agent) and negotiates on his or her behalf with the purpose of getting them the best price possible for the given property they are negotiating for, they aid in finding the property and keeping in contact with the sellers agent. Now, as for the other side, the sellers agent, the sellers agents primary duty is to market the home and get the best deal possible for the person selling it. This is what both agents do in the simplest form.
What about compensation?… Everyone thinks realtors make a lot, is it true?
The buyer’s agent often does not get paid directly from the purchaser, they often end up helping the buyer for free in finding them a home and the buyer is under no obligation to be forced to work exclusively with any given agent unless put under contract. They buyers agent gets paid when the house is sold, they negotiate their take with the sellers agent and it usually a 50/50 split between the two, he or she gets paid from the sellers commission. If you’re under a buyers contract, you may end up compensating the agent.
The seller’s agent (often referred to as the listing agent) gets paid from the vendor (the person listing the house for sale) usually a percentage of the total sale price and they split this commission with the buyers agent. Just remember, if you’re going to work with someone, you’re going to want to work with the best. If you’re like my friend who did business in surrey, then your going to want to work with the best realtor in surrey. The same is true anywhere else you live.
Should you work with them?
Often, people who list their homes for sale by themselves end up receiving a lower price for their home than its worth, they have to invest a considerable more time in marketing their home and have to deal with all the paperwork by themselves. I would personally suggest working with someone who’s experienced, does this daily and has proven they can do it over and over again and not have to invest the time, energy and effort myself. Now, for the buyers side, I personally think its kind of no brainer because you’re often not paying anything out of your own pocket and are getting input from someone who’s an expert at what they do and also getting them to put in the effort in finding you the right deal for you.
That’s my quick take on real estate agents and what they do, how much they charge and whether or not their worth working with. I didn’t want to run into all the ‘nitty gritty’ so I kept things simple and got to the point. Now, the decision of whether or not you should work with an agent is in your hands entirely.