A real estate agent, real estate broker or real estate brokerage agent is a qualified individual who acts as a representative of buyers or sellers of real estate. Agents can work independently, but most agents work with a licensed brokerage to represent clients. These licensed brokers do not qualify as real estate agents in the usual sense of that term. A brokerage that licenses its agents in real estate brokerage can act for buyers and sellers of real estate in a particular area. Most agents work for one of these types of brokerage firms.
Agents in real estate have many tasks. They must identify potential clients, communicate with them, guide them through online property auction bidding, analyze market trends, communicate with lenders and financial institutions, maintain professional relationships with other brokers, prepare the prospectus, market to clients, coordinate and monitor negotiations, close real estate transactions, and perform background investigations. They are responsible for providing professional and honest representation to their clients. They must not only represent their clients but also conduct research and gather information to help them make the best buying or selling decision for their client. Agents are trained in all of these areas. This allows them to deal with a variety of problems and adapt quickly to changing market conditions.
Real estate agents have the primary responsibility of ensuring that the transaction is as smooth as possible between the buyer’s and seller’s. Buyers and sellers often work together to determine the price range, terms and conditions of the property they want to purchase. Real estate agents help buyers and sellers communicate in order to reach an agreement. During the negotiation phase, a real estate agent’s role is particularly important. The broker helps the buyer and seller decide the most cost-effective method of purchasing the property. If an option is available, they negotiate a mutually acceptable price.
While they are not authorized to enter into legal contracts themselves, real estate agents can assist the parties involved in the transaction by helping them draft and submit the appropriate paperwork for approval. They can also provide guidance during the buying process and continue to monitor the progress of the transaction until it is completed. After the transaction is closed, the real estate agent collects all documents required by law and prepares all final documents. Then, the document is delivered the designated receiver.
Many agents use social media sites like Facebook and Twitter to market their listings. While real estate agents are not able to communicate with clients directly online, they can send messages to current and potential clients, post photos and information about properties they have purchased, as well as connect clients to real-estate professionals who can help with their buying strategies. When real estate agents use social media, they not only gain new client contacts, they also build brand recognition and establish a professional image. For this reason, many buyers choose to work with real estate agents, and many of them recommend using social media marketing venues such as Facebook and Twitter to connect with their local real estate professionals.
There is great competition among agents for the attention of home buyers, but if these brokers want to take part in social media networking and engagement, it will probably be to their advantage to work with an established broker with a wide network of contacts and clients. No matter whether they work directly with clients or through agents or brokers, real estate agents remain a prominent presence within the market.