Real Estate Agencies are licensed professional companies. They represent buyers and sellers in real estate transactions. Mostly Real Estate Agencies work as brokers. They have training, certifications with the ability to support customers and to close deals.
What They Do:
Agencies perform different tasks, depending on whether they work for the buyer or the seller. Agents who work for the seller advise customers on pricing and preparation for sales, including tips for short-term improvements that can increase the price or promote a quick sale. Selling agents also market the property through listing services, networking and ads. Agents working for the buyer look for available properties that match the buyer’s price range and wish list. These agents often analyze and look at data from past sales to help prospective buyers make a fair deal on a particular property.
Importance:
It is very important for an investor to understand whether a real estate agent represents the seller, the buyer, or both parties, as the broker’s loyalty can affect several details of the transaction, including the final price. Federal laws regulate whether an agent can represent both sides of a real estate transaction, and most states allow it. Agents must disclose their representations so buyers and sellers are aware of potential conflicts.A real estate agent is able to prepare and review real estate documentation such as sales contracts, mortgage papers, title documents and transfer documents.
The tax implications for investment and real estate often differ from those for a residential real estate property. These can be things like property disputes and transactions.
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