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18 May 2016
Selling your house in princeton
Who're They...

Real estate agents are professionals instrumental in connecting the buyer with the seller.
Additionally, many real estate professionals manage rentals wherein they introduce tenants to landlords and oversee taking care of the property with respect to the landlords.
Generally in most areas real estate agents are required to be highly educated, licensed and so are regulated by a governing body.
Some real estate agents are also Realtors.
To utilize the title Realtor, a realtor must be a member of the nation's Association of Realtors which and a number of other requirements, requires Realtors to stick to a strict code of ethics while offering Realtors additional educational and designation opportunities.
Though not required by rule or law, it may be a wise decision to find the services of a Realtor.

NJ Sell my house
What can They Do....

Real estate agents assemble two or more interested parties, perform those steps required to successfully conclude a transaction and charge a commission for their services.
For sales transactions, you pay commission to the seller while for rentals, commission is typically charged the landlord.
Real estate agents generally calculate their fee like a percentage of the value (in the case of a sale) so that as part of the rent to rent units.

How Do They actually do It...

People who want to sell or rent their house leave details of their home with the real estate agent.
Along with all property details real estate agent will normally have keys to the house to facilitate showings.
The other interested party (i.e. the buyer/tenant), gets usage of this information and to the house by contacting the property agent.
That's how a real estate agent becomes a hub of knowledge.
Contrary to some common misconceptions, real estate agents typically represent the vendor or the buyer but rarely both.

How come I Use One...

First of all, to protect yourself. Property transactions are highly regulated, highly paper (document) intensive transactions.
Real estate agent possesses an intensive knowledge of the laws, rules, regulations, disclosures and documentation necessary to successfully complete the transaction to the satisfaction of the buyer, the vendor and the law.

Because realtors are most familiar with local real estate market conditions, it is advisable and makes sense to seek the advice of one to have idea of the current trends and pricing for properties within that market.
An excellent real estate agent will know the prices (or budget range) of various properties of different types and at various locations inside the region.

Because of the realtor's knowledge and expertise, property sellers frequently get a few thousand dollars more for their property.

Many home seekers, including seasoned property investors use the services of real estate agents to discover the best real estate bargains inside the easiest and quickest manner.

Furthermore, the best agents analyze the wants and needs of a home buyer/tenant and provide valuable input as to the kinds of properties at hand within their budget. Therefore, an excellent real estate agent will not just present a list of available properties to the buyer/tenant but will actually discuss their demands and make suggestions.

The good real estate agent, working in this way benefits in at least two ways...
First and many obviously, when the real estate agent is able to successfully complete the transaction the commission is earned as well as the real estate agent is paid...
and secondly, when they make the customer/client happy they earn a strong reputation and often receive referrals (hence more business).

Important to note...

It is worth noting that you have a myth floating around that real estate agents only work on behalf from the seller, buyer beware.
This is simply not written in stone nor is it always the case. Real estate professionals are, in most regions, highly regulated.
With few exceptions, real estate agents work either for the seller (as is the case with lots of listing agents) or for the buyer (as is the case for a buyer's agent).
Additionally, some areas enable dual agency where a realtor can work for both the seller as well as the buyer or like a transaction broker in which the agent represents the transaction itself and neither the seller nor buyer individually.
However, in the case of dual agency/transaction brokerage, remember that rule, regulation (law) and ethics usually do not permit the agent to do something in favor of either party during detriment to the other.
If you're unsure of the relationship between you and the real estate agent, do not hesitate to ask.


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