Exploring the Various Types of Real Estate Agents

Whether hiring a real estate agent to help with selling your home or purchasing a new home, you may be surprised to learn that there are many different types of real estate agents to select from. While many real estate agents offer a variety of services, some specialize in just one or two areas. Therefore, before you begin your search, it is a good idea to learn more about the different types of real estate agents and what they have to offer.

The Broker

In general, a real estate broker has more education and experience than a real estate agent. In many states, agents must complete additional schooling and must successfully pass special exams in order to become a broker. Once a broker, the agent can work independently and may oversee other agents.

The Broker Associate

Like the broker, the broker associate has completed whatever requirements the state has in place in order to become a broker. Rather than work independently, however, the broker associate has decided to work for a broker. Broker associate?s typically work for a larger real estate network and may supervise other real estate agents.

The Realtor

Although the terms ?real estate agent? and ?realtor? are often used interchangeably, the reality is that a Realtor is a broker or agent who belongs to the National Association of REALTORS (NAR). ?Members of the NAR must agree to follow an extensive Code of Ethics that is geared toward protecting the customer,? says Realtor Brian Kinkade.

The Buyer?s Agent

Also known as a selling agent, the buyer?s agent works exclusively for the buyer. Therefore, if you are planning to purchase a home, you may wish to hire a buyer?s agent to handle the job. In this way, you can be sure the agent will do everything to help you get the best deal possible. While many agents work for both buyers and sellers, they typically do not work for both during the same transaction.

The Listing Agent

Also known as the seller?s agent, the listing agent is responsible for getting the home sold. Rather than focusing on helping the buyer sell his house at a reasonable price, the listing agent focuses on helping the seller get his house sold at the highest price possible. The listing agent is solely accountable to the person who is selling the home.

The Dual Agent

In states where it is allowed, some real estate agents serve as a dual agent. Dual agents work for both the seller and the buyer on the same transaction. A dual agency can also occur if two agents who work for the same broker are involved with the transaction.

About the Author ? Beth Besecker is a writer for myrealestatejournal.com where she shares her expertise as a real estate agent.

Source: http://madisonmansions.com/exploring-the-various-types-of-real-estate-agents/

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