If You Read One Article About Houses, Read This One

Buying a Home with a Real Estate Agent, Broker or Realtor Choosing someone as your representive in a real estate transaction can be a challenge. Thanks to the Internet technology, not only can you find a real estate office on almost each and every corner, but you also get access to an endless number of potential brokers and agents. Going through all of this can be time-consuming and full of pitfalls along the way, particularly for first-time home buyers. Luckily, real estate professionals are always there to help. The question is, which one should you work with – agent, broker or realtor? These terms are usually interchanged by people who have no real understanding of their differences, if they even know they’re not the same. A real estate agent, for one, is an individual who’s finished some basic training classes and passed a state licensing examination. What this means is, as long they work under a licensed broker, anyone can be a real estate agent. Also, they have to take continuing education courses as a requirement for renewing license periodically.
Getting To The Point – Options
A real estate broker, on the other hand, must take more classes in various subjects as a requirement for taking the broker’s license exam, and continuing education courses for their license to stay active. However, unlike sales agents, brokers can work independently, that is, without being affiliated with another real estate professional.
Understanding Properties
In any real estate transaction, both brokers and agents will be able to represent buyers and sellers, provided they are licensed. One thing they cannot do, however, is call themselves a REALTOR(R), unless they belong to the National Association of REALTORS(R). NAR owns REALTOR(R), which is basically a trademark, and is known to follow a very strict Code of Ethics. A Buyer’s Agent and Why You’ll Need One Whether the housing inventory in your target location at any particular time is strong or weak, some real estate professionals are disinterested in pursuing prospective sellers just to rack up listings. There are some agents and brokers, however, who would like to focus on representing buyers, hence their title, buyers’ agents. While they don’t require a special license for this, NAR has instituted a particular course of study for those who would like to earn the Accredited Buyer’s Representative (ABR(R)) designation. Aside from finishing this course, agents and brokers with this accreditation have also worked on a minimum of five transactions acting exclusively as the buyer’s representative. Certainly, they also have to be members of good standing of NAR and the Real Estate Buyer’s Agent Council. As a first-time home buyer, there is no doubt that having a buyer’s agent represent you, is a good step to take, what with their in-depth knowledge and experience with buyers and the buying process.