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What Does A Realtor Do? by Barde Frizzette www.realtorg.com Real estate is one of the most necessary and one of the oldest professions. References to realtors can be traced back to the Holy Bible. But, what role does a realtor play in a real estate transaction? Basically, a realtor is the person who acts as a consultant in the following operations: - Sale, or Purchase, even exchange of any types of real estate -Finding credits or mortgage loans -Assisting with the administration if rental properties -Organizing real estate cooperatives or similar real estate entities, or civil associations. -Attributing values in the real estate market studies, or real estate feasibility studies. But a realtor's main function is to negotiate the supply and demand of real estate. The realtor's role is to put together the interested parties in a real estate venture, show the property for sellers and finding people interested in buying the property. The realtor provides a service that moves property quickly through the real estate process. Some people may try to sell their property themselves without the services of a realtor. Generally, homeowners don't experience much success when selling on their own and turn to the realtor for some expert advise. People try to sell their own home because they want to minimize real estate transaction fees, like the realtor's commission. The realtor advertises the property and can find more interested parties than the homeowner can do on their own. Of course, this service isn't free, the homeowner pays for this service with a percentage of the sale price of the property. Buyers also use realtor's services to their advantage. The real estate agent assists the buyer in finding the home that best fits their needs among all the homes that are available for sale. In this case, the realtor helps both parties: the buyer of the home and the seller of the home. There are two contracts for the realtor services, and commission is paid by each party at the close of the home sale. The realtor usually isn't directly involved in preparing the contracts, but his or her role is to negotiate agreement as to the contract. The realtor doesn't have an guarantees in the sales process. For instance, if the home doesn't ultimately close, the realtor will be out the time and money spent advertising and showing the home. If the sale falls through because of the buyer, the realtor is out the time spent showing the house and negotiating the contract. But it's worth the risk -- if the sale goes through, the realtor gets a healthy sales commission. A good realtor always has the services of a lawyer to help complete negotiation contract agreements, and an accountant who acts as a fiscal adviser. |