What is the Difference Between a Real Estate Agent and a Real Estate Broker?

When one starts the process of selling or purchasing a home, it is not long before they realize that it can be an overwhelming task. There are many steps that are involved with the process that can often be quite complicated to the novice. Fortunately, there are professionals that can handle any home selling/buying situation and can take the burden off of your shoulders. Two such professionals are the Real Estate Agent and the Real Estate Broker. Before enlisting their services, it is important to understand the differences between each and their role in the process of buying and selling a home.

Real Estate Broker

A real estate broker is a person who acts as a liaison between sellers and buyers of real estate. They work to locate sellers who want to sell their property/houses and buyers who want to buy property/houses. Brokers help sellers with the marketing of their property and selling it for the best price and the best terms. For buyers, they assist them with purchasing for the lowest possible price with the best terms. In most states, one is required to have a license in order to be a real estate broker. In a few states, attorneys are permitted to conduct real property sales for compensation without being licensed as brokers or agents.

When one acquires a broker's license, they can run their own brokerage company and hire licensed agents. One has to pass a broker's exam to get licensed.

Real Estate Agent

Real Estate Agents help people with the actual locating and purchasing of a home as well as the selling of a home or property. Agents perform such duties as taking potential buyers to view homes that are for sale, offer advice to home buyers about where to acquire a home loan, submitting an offer for a home, locating the type of home that the buyer is looking for, has knowledge about the community where the home is located, and filling out specific forms that legally show that the house has been purchased. Both the buyer and the seller of the home sign these forms. An attorney is normally involved with the signing of pertinent documents.

The agent must be aware of the value of the home, all features of the home and if there are any problems with the home and property such as damage or a poor foundation, and they must be aware of the neighborhood and surrounding community. They should be able to answer any of the home buyer's questions. As well, they must have knowledge about the laws related to buying and selling a home. For home and property sellers, they help assess the price of a home and list it.

Real estate agents can be self employed or work for a company. They receive a commission for the sale or purchase of a home. Commission fees will vary among agents.

When you plan to buy or sell your home or property, you should enlist the services of professionals such as real estate agents and brokers. Understanding their role in the process and their differences will help ensure that the process is much easier and less complicated.

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What You Should Know About a Real Estate Broker Career

What is the role of a real estate broker? A real estate broker career can be a fulfilling experience for an individual and it's a career that demands both leadership and interpersonal skills. They are someone who knows the real estate market of a certain area, both inside and out. They are familiar with the estimate appraisal value of a certain property in a certain area at the given market conditions. However, the greatest distinguishing trait between an agent and a real estate broker is that a broker can run their own firm.

A broker should be able to look for a property that meets the specifications given by the purchaser at a given budget. Of course, it would mean that the broker needs to know how to negotiate a price until both parties involved in the transaction come to a mutual agreement. A broker can work independently or hire a team of real estate salespeople to work in their firm. A broker working for a buyer means that he should help the buyer acquire a piece of property at the lowest price possible. While when a broker is working for a seller, he should be able to sell a property at the highest price possible. At such demands, the broker must have the ability to be flexible to each need.

What does it take to be a broker? Before you can lead a career as a broker, you must fulfill certain experience and educational requirements. First, you have to get a license. The state must protect both the professional and the buyer from illegal transactions thus; they require those who want to practice the profession to get a license.

Getting a license as a broker requires you to study for the exam. It is recommended for someone who'll be taking the exam to read real estate exam guides or take an online broker course. Becoming a broker is a mix of hard work, patience and determination. Mentorship from a knowledgeable real estate broker can provide added benefits to your new career. There are things that you don't learn in a classroom environment. Things such as obtaining networks and field know how could only be achieved with on an on the job training.

Obtaining a license would allow you to broaden your horizons. Plus, you may discover that you want to shift your career path. For example, why not consider home appraisal? Staying on the job however does not mean that your learning must stop. Invest in yourself by attending extra classes. It would add to your credibility and value as a broker.

To learn more about Real Estate Broker Career and How to become a broker.

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9 Reasons For Hiring an Exclusive Real Estate Broker

The following are 9 reasons why you can financially benefit by retaining an experienced broker as your agent. A broker with many years of experience can help you objectively evaluate all the alternatives without potentially self-serving points of view. A broker's market knowledge is a critical factor in assuring you will be submitted all the available properties for your consideration. Maximize your broker's knowledge base by having them focus on you.

Accountability

Your own broker is directly accountable to you. You will not receive as much responsiveness, dedication and accountability with a non-exclusive broker.

Added Value at No Cost

Think of the real estate broker as your very own real estate department without paying for it. The owner of the property typically compensates the real estate broker. Most owners already have included a real estate fee in their leasing plan for the property.

Broker Selection

Using an exclusive broker allows you to select and retain the best professional available. Consider interviewing at least three (3) brokers prior to the relocation project. Your broker of choice may not be the broker that has been currently calling on you. Retain the real estate professional with the best track record in the area, regardless whether or not they're the first in the door.

Indicates a Serious Prospect

Hiring an your own agent will indicate to the owner's and brokerage community that you are a serious prospect. This may place you at the head of the pack if you find yourself competing for a property.

Negotiating Experience

The experience of a broker in negotiating a lease or purchase will result in obtaining better terms and conditions for you. The broker's "deal making experience" is vital to you achieving your economic goals.

Efficiency/ Minimizes Legal Entanglements

An exclusive broker provides you with a single point of contact. Without an exclusive broker you are faced with wasting your valuable time screening a multitude of brokers, ownership calls and or proposals.

Extensive Industry Contacts

An experienced broker will have extensive contacts with the owners of properties, vendors/contractors, and the brokerage community. These long term contacts in the industry will save you time and money.

Lease Ownership Analysis

A knowledgeable broker has the financial analysis tools and access to information which will help you evaluate the best real estate solution for your company.

Selection and Coordination of Space and Design Firms.

An exclusive broker can assist you in the selection and coordination of space planning and design firms.

use of your own agent ill maximize the leverage you will need to strategically plan and relocate your facility at the best economic terms and conditions possible. Your relocation will be fully documented and best of all, most of the time the property owner pays the commission. An experienced exclusive broker with a "deep bench of contacts" on your team could potentially save your company well above a hundred thousand dollars ( $100,000) against the bottom line. TRY USING AN EXCLUSIVE BROKER ON YOUR NEXT LEASE OR PURCHASE.

For more information on this article, Please Contact:
Dan Weil
(310) 792-9400
dan@weilcommercial.com

Market Knowledge
Since 1981 Dan Weil worked as an industrial real estate broker in the greater Los Angeles area at 2 major commercial real estate firms and in 2002 started his own firm Weil Commercial Properties, Inc. Dan offers 27 years of experience with many long term client relationships. For assistance with your commercial industrial need, please contact Dan at 310 792-9400 or visit the web site at: http://www.weilcommercial.com/resources.html

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A How to For Real Estate Broker Marketing

As real estate broker marketing is one of the essential things for you to do. This is what will increase property exposure. Consistence is important when you are distributing the materials, which will alert others to the services offered as well as the existence of the business. While you are choosing among the many marketing materials available you want to choose the ones that will work best.

There are a few things to keep in mind before you go and buy any kind of real estate broker marketing materials. Signs for the open houses and for the listings are important for marketing of houses, so they are something to think about for the times that you are selling. Otherwise, you should have magnets for the vehicle you drive in order to advertise the services that you offer.

Reaching others is something you can do by many different ways, such as online. Potential clients and real estate agents are the people that you will reach through your real estate broker marketing. You want to reach as many people as possible and can do this by things such as promotion materials and direct mailings as well.

With real estate broker marketing, selling will involve the use of signs on properties in order to draw attention to them. The signs should use bold letting and have appeal. Place banners and signs for open houses in an area that others can easily see them.

As part of real estate broker marketing, direct mailings are another aspect to utilize and should consist of things such as door hangers, magnets, business cards as well as other marketing materials. Agents are someone to advertise to and when you are selling you will definitely want to advertise to those who are potential clients. The materials you use should have a message, which is clear and easy to see.

Online is one area that will open up a whole other arena for your broker marketing, while giving you access to a whole other area of customers. When you have a site, you should have a person that is a professional create it, so it will be easier for you and a customer to use. With this option, you will also have access to the ability to send electronic mail too.

Use a variety while working in real estate marketing. As a broker, you are sure to sell at times and should always offer services to agents.

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Be Wary Of The Scamming Real Estate Broker - Tips

Prospective real estate investors may have heard, or experienced unusual selling pitches or come-ons, like offering buyers the chance to learn how to become a real-estate investing millionaires, by offering dubious rates, extra perks or add-ons.

Be on the lookout for the scamming real estate broker. However, not all real-estate investing seminars, or brokers are bad bets, of course. There are many who will help you learn about the business of investing and can be a worthwhile expert to ask for reference.

Recently, the U.S. Federal Trade Commission has issued advisories to consumers for them to be suspicious of claims that money can be earned fast, and investment growing rapidly high in short terms, despite lack of experience, and that making money using the flawed broker's formula is not truly a sure thing.

The number of seminars offered by real estate brokers to would-be property investors has exploded along with the booming real-estate market. These seminars are distinguished from professional or academic courses that focus on specific topics, such as real-estate demographics.

It isn't unusual to see ads for public seminars promising to teach you all about the art of buying real estate, like just in three days. Such seminars often usually free, and are intended to entice you to pay for additional knowledge at future conferences.

The real estate agents have a valuable source of potential deals for the real estate investor, in the Multiple Listing Service database. However, be wary that only real estate agents have a monopoly on this information, so keeping tabs on such list may be a necessary part of an investor's game plan.

Properly dealing with real estate agents can be difficult as an investor. Most agents would prefer home buyers with cash to put down, good credit and conventional buying power. Their main interest is getting a commission with a few hassles as possible. Most agents have never done a creative real estate transaction with an investor, so they are not often receptive to unusual offers. Most agents equate a nothing down offer with a buyer who is not serious.

Here are a few tips on keeping a keen eye on scamming brokers.

Stay clear of the bully, uncooperative broker types

If you cannot speak softly to a overbearing broker, don't be afraid to stand up to him. Some brokers are unethical and often refuse to present your offer. In addition, many times the broker will lie and tell you that your offer was rejected when, in fact, it was never presented. If this happens, do not be afraid to go over his head to the listing broker. If the listing broker is uncooperative, deal directly with the sellers themselves, and skip the middlemen.

Offer a short closing date to your broker

Another way to get an agent to take you seriously is to offer a fast closing time. Nothing makes an agent drool more than the thought of getting a commission check in ten days. If the agent has another offer presented to him, he will usually advise his client to take the offer with a larger earnest money and faster close than an offer which is higher in price.

Insist on doing your own computations

Sometimes you will get the other end of an uncooperative agent, that is, an overzealous broker. Be suspicious of any broker who tells you what a deal you are getting on a property. Should it be a good deal, then why didn't he buy it? Don't take the broker's word as to the value. Ask for printouts or info on comparable sales.

Be aware that information contained in the MLS database was entered by the listing broker and may be falsely inputted. If a comparable sale shows the same square footage as the house you are looking at, try visiting the area to see if it truly is accurate. Do your own assessments of property values.

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Benefits of Using a Los Angeles Real Estate Broker

Are you a Los Angeles resident who is interested in selling your home? If you are, have you made a decision as to how you want to sell your home? Homeowners who are interested in selling their homes have a number of different options. One of those options includes the use of a Los Angeles real estate broker.

Many homeowners wonder why they should use the services of a Los Angeles real estate broker. There are a number of benefits to using one. If you are about to sell your home, you should familiarize yourself with the benefits of using a Los Angeles real estate broker. Doing so will enable you to make an informed decision as to whether or not you want to sell your own home or seek assistance.

Perhaps, the most important benefit of using a Los Angeles real estate broker is the assistance that you will receive. Real estate brokers are often referred to as real estate agents. Each person, no matter which name they choose to go by, should be trained and experienced in customer service. This training will allow a real estate broker to offer you the utmost service, as well as potential buyers.

A knowledgeable and helpful real estate broker is important to the successful sale of a house. In addition to being trained in customer service, real estate brokers will assist you all the way through the selling of your home. This means that they will not only deal with potential buyers, but advertise the sale of your home, and work with lawyers or accountants. Basically, they will stay with you until the sale is officially completed. All of these features are beneficial to homeowners.

The proper advertising of your home is important because it enables potential buyers to visit your home or even know that it is for sale. Many homeowners are inexperienced when it comes to advertising and marketing. This is why many for sale by owner homes sell for less than they actually should. The knowledge and marketing experience that most real estate brokers receive will not only help your home sell, but it may also drive up the value.

If and when your home receives a buyer, that individual will likely escrow the money for the home. Arranging and managing an escrow payment is a difficult task. Many home buyers have accountants or lawyers on hand. Dealing with these professionals may be overwhelming. If you use the services of a Los Angeles real estate broker, you may not even have to have contact with these individuals. Many real estate brokers in the Los Angeles area will process and monitor all payment methods used by potential buyers.

As a homeowner, you have the final say in whether or not you want assistance with selling your home. If you offer your home as a for sale by owner home and the process is not going well, you can always seek assistance from a professional if you need it.

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Choosing a Reliable Real Estate Broker

Employing the services of a real estate broker is sometimes the best option when you are buying or selling a property. For this reason, it is crucial for you to find a broker who is dependable and with whom you can have a comfortable working relationship.

The potential broker should have the proper credentials including their years of experience in the trade. You may also want to check out their license to engage in the business as well as some references if possible.

Doing transactions with real estate brokers requires you to work closely with them, which means personality becomes an important factor in your relationship. Choose a broker who is easy to get along with and can communicate well.

You would feel more comfortable if your broker is quite familiar with the locality you are planning to settle in. Try to find out whether or not they have successfully served clients in the area in buying and selling property.

To make their jobs easier, real estate professionals use the Multiple Listing System, or MLS. You can avail of the benefits of this system's database through your real estate broker and use the information to your advantage.

Choose a realtor who knows how to focus on your needs and knows how to deal with different kinds of people. Remember that real estate business is one of negotiation and persuasion, therefore, your broker should have these skills.

Keeping a good communication channel with your realtor is essential to ensure you are constantly on equal footing. Even if your broker may sometimes be unavailable to answer your calls, they should be responsible enough to resolve matters in a timely manner.

Exercise caution when you are asked to sign any agreement. Never hesitate to ask questions before signing and try to understand details so you can keep yourself safe from ambiguous or hidden provisions.

Dave Manner has been writing articles about brokers for the past two years. He also enjoys writing about New York real estate topics, such as commentary about East Village apartments and Gramercy apartments.

Dave Manner

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