What does a real estate agent do? This is a pressing question for many first time home buyers or sellers who may not be familiar with the real estate process.
In short, a real estate agent serves as a intermediary between home or property buyers and home or property sellers. A real estate agent operates by connecting together the two interested parties. Real estate agents make money by charging a commission for their service to the home/property seller. That’s the short answer.
In short, a real estate agent serves as a intermediary between home or property buyers and home or property sellers. A real estate agent operates by connecting together the two interested parties. Real estate agents make money by charging a commission for their service to the home/property seller. That’s the short answer.
Real estate agents may also:
- Manage rental properties.
- Connect renters with landlords who are renting.
- Do market research to determine value of homes in the area.
- Analyze the financial situation of potential buyers to better match them with available homes.
- Market listings for their clients.
- Manage and conduct open houses.
- Place homes for sale on listing services (known as MLS).
- Assist sellers, through advice or action, in prepping and staging their home.
- Prep all the necessary contracts and paperwork to negotiate home/property transactions.
- Facilitate with other parties like inspectors, escrow agents, and lenders.
Most real estate agents are required to have ongoing real estate training as well as be licensed by the state they serve in. For example, in New Mexico, a real estate agent must take approved courses to equal “36 hours
cumulatively in a 3-year cycle,” among other requirements. Each state is different in their continuing education requirements.
There are many terms you may hear when it comes to who may represent you like “agent,” “broker,” or even “Realtor®.”
Difference Between Real Estate Agent, Real Estate Broker and Realtor®
There is a difference between a real estate agent and a real estate broker. According to Realtor.com:
“Anyone who earns a real estate license can be called a real estate agent, whether that license is as a sales professional, an associate broker or a broker. State requirements vary, but in all states you must take a minimum number of classes and pass a test to earn your license.”
Realtor.com describes a real estate broker as:
“A person who has taken education beyond the agent level as required by state laws and has passed a broker’s license exam. Brokers can work alone or they can hire agents to work for them.”
In essence, a real estate broker has more training and education than a real estate agent.
A Realtor® is a broker/agent who is an active member of the National Association of Realtor, a real estate trade association.
A Realtor® is a broker/agent who is an active member of the National Association of Realtor, a real estate trade association.
Santa Fe Real Estate
Darlene Streit is a long-time Santa Fe Real Estate Broker with extensive experience, training, and education. From 2010-2016, Darlene has been recognized as the #1 broker in Santa Fe (SFAR MLS Volume). Darlene has
also, since 2011, consistently been in “Top 100 NRT Teams Nationally and Worldwide.” That is out of 1,400 teams, 700 offices, and 42,000 brokers.
If you need someone working on your behalf to buy or sell a home or property, then contact Darlene at 505.920.8001.