Buying or selling a home is one of the most important decisions in life. For both buyers and sellers, there are lots of challenges in the real estate market that need spending time and energy. That is when real estate agents and realtors can help you. But what do realtors do?
In this article, we will show you everything you need to know about realtor services and how these professionals can help you. If you are considering buying or selling a home, be sure to read this blog to improve your experience and results.
What Is A Real Estate Agent?
Before anything else, you need to know who the real state agents are and how they can help you. Real estate agents are licensed professionals who connect buyers and sellers for real estate transactions.
Depending on the province they work in, agents typically earn a commission ranging from 3% to 7% of the final sale price of a home.
Realtor Vs Real Estate Agent
While most people think real estate agents are the same as realtors, they are different. Realtors are members of the National Association of REALTORS and follow the NAR’s code of ethics. (NAR’s code of ethics refers to rules for fair and honest conduct that members commit to follow).
So in simple words, all realtors are also real state agents but not all real state agents are realtors.
What Do Realtors Do For Buyers?
Although realtors and real estate agents are slightly difference, they usually offer the same services.. Here’s what do realtors do for buyers.
1. Negotiate Home Sales
The first thing you need to do to find the house of your dreams is to talk in person or speak over the phone with your agent and discuss what you want in a home. Based on your budget and property goals, they will spend hours of research to find homes that match your criteria. It definitely is harder than what you might think and can save lots of time for clients.
2. Home Inspection
So what do realtors do after finding the houses? In the next step, they will send you a list of available properties to review and see which ones you are interested in viewing. They will schedule and organize multiple home inspection tours to check out the houses.
3. Answering All Of Your Questions
If it’s your first time to buy a house, don’t worry! Realtors are there to answer all your questions. Your agent should be able to answer all your questions about the disclosure forms, insurance, contracts, etc.
4. Submit An Offer
Once you find the perfect house, you will want to make a deal with the seller. So what do realtors do in this stage? They can help with the closing dates, costs, inspections, repairs, etc. They are ready to discuss with sellers and help you get the house you like.
5. Taking Care Of Paperwork
In some cases, your relator is the one who writes and sets the contracts. However, if the document is already ready, your agent should review it completely before letting you assign anything. Once you’ve completed the signing process, the agent will take care of submitting the paperwork for you.
6. Finding A Mortgage Lender
If you are a little short on budget, your realtor can help you find a safe mortgage lender to help you buy your house. They need to guide you through paperwork and connect you with approved lenders.
What Do Realtors Do For Sellers?
Generally, the seller’s agents are known as listing agents. Now let’s see what do realtors do when you want to sell a house.
1. Referrals
Realtor services also include connecting you with different specialists and tradespeople who can help with the sale process. These professionals can transform your space into a more inviting house for potential buyers. These can include cleaning services, repair technicians, etc.
2. Determine An Asking Price
Once the building is completely ready, it’s time to determine the price. One of the real estate agent services is to spend lots of time reviewing the property, identifying similar building and their price, and recently sold houses in the neighborhood. Multiple factors can affect the price of a property (such as number of bedrooms, bathrooms, size, etc).
3. Marketing
Now it’s time for realtors to arrange for a professional photo shoot of your property, write an engaging description about it, and list your building on the Multiple Listing Service (MLS).
However, that’s not enough. A good agent should consider Instagram marketing for realtors and other social media platforms for showing your property.
4. Schedule Showings And Open Houses
After doing successful real estate marketing, it’s time to show your house to potential buyers and schedule tours. You can set the times that work the best for you, whether it’s night hours or over the weekends.
5. Guide You Through Different Offers
If your agent is successful in marketing your property, you will probably receive multiple offers. But how to decide which one is the best for you? One of the most important real estate agent services is checking every offer and guiding you through choosing the best one. It can be the highest offer, rent-back deals, and different contingencies.
6. Negotiate The Offer
It happens many times that a buyer puts in an offer below the asking price. In these cases, your agent is responsible for showing them why your property is worth more and even lowering the price as much as possible to close the deal.
Conclusion
Realtors are much more than intermediaries in buying or selling homes and can help you in every step to have a better experience. These trusted advisors know the complex process of the real estate market to help clients.
They can help buyers find their dream homes and buy them at the best price as well as assist sellers in achieving the best value for their properties. In this article, we provided a full guide on what do realtors do and how they can help you.
FAQs
1. What Is A Realtor In The USA?
Realtors are real estate agents who are a part of the NAR association (National Association of Realtors) and need to meet some requirements, including:
- Having an up-to-date real estate license,
- Being actively participating in the real estate field,
- Without any history of professional misconduct or sanctions,
- Not having filed for bankruptcy recently or any pending bankruptcy,
- Lastly, becoming a member of one of the local real estate associations under the National Association of Realtors is a must.
2. What Do Most Realtors Make?
Sellers need to pay a commission fee for their transactions which is split between the the agency and the agent. According to a report by Kapre magazine, their income ranges from $50k to $70k per year based on the states they work in.
3. What Are The Stages Of A Real Estate Deal?
If you are planning to buy a house, here are the steps to follow for a safe purchase.
- Find a real estate agent in your state.
- Discuss the type of house you want.
- Schedule home inspections.
- Make an offer.
- Negotiate with the seller.
- Complete the paperwork with the assistance of your agent.