Who Do Real Estate Agents Really Represent?
Many home sellers, buyers, and even some real estate investors do not understand the different types of realtors.
There are many types of realtors and they vary based on specialty, brokerages, and what local law permits. One thing they have in common is their obligation to put clients’ interests first, be it a seller or buyer. But, the unfortunate reality is that some agents are focused only on their commission check, presenting an ethical conflict. To help sellers and buyers navigate these arduous waters and figure out who real estate agents really represent, it is important to know, at least at a high level, the types of real estate agents and their roles. Let’s start by asking some fundamental questions:
1. What are they?
2. Who do these realtors represent?
3. How do they affect the terms of the deal?
4. What value do they offer?
5. Is it still viable to use them?
Types of Real Estate Agents
Buyer Agents
These are realtors that work specifically with buyers. They are, however, licensed to transact on other types of real estate businesses. Some may even have their own listings. But, others choose to focus exclusively on buying. This focus is essential as it provides property buyers with skilled and dedicated representatives. As much as some property buyers consider skipping buyer agents (which can make sense if you’re looking to save on commissions and execute a fast deal), it can be helpful to have a professional representative. A buyer agent can help to connect the buyer to other professionals like title companies and mortgage loan officers. They also write contracts on your behalf, help in making offers, arrange inspections, negotiations as well as managing the transaction up to closing.
Seller Agents
Seller agents represent the seller, list properties on the multiple listing service (MLS), market the listings, and provide offer pricing advice. They also market and show properties, advise sellers on contract negotiations, and endeavor to get the client the best deal. When buyers forego having their own agent, he or she is in most cases working with the seller agent, who is on the other side. Occasionally, seller agents also work with buyers and handle transactions under dual agency.
Transactional Agents
Transactional agents, also known as dual agency, often facilitate only the transaction and do not represent either party. But this can change during the transaction process. Dual agency also has benefits for sellers and realtors. Sellers can save money in cases where the real estate agent is willing to offer a discount on the associated commission as they earn on both sides.
Do you need an agent?
Not at all. Home sellers, buyers and real estate investors can work without agents. But you should not rule it out completely. Many home buyers do not understand that sellers pay for the buyer to have themselves professionally represented. If the money is not used, it only goes to pay the seller agents. No buyer wants this.
Some real estate sellers on the other side may however find that professional representation helps them sell homes for more. And at the same time protecting them lawsuits. Any savings accrued is offset by the associated commissions. As much as agents offer a lot of value, there are situations whereby home buyers, sellers, and investors can benefit from operating alone. If you have time, skill, you know what you want and most important, if you need to instantly sell and get as much as possible, you can comfortably go it alone.
Are you in the Austin area? Are you thinking of selling your house? Are you experiencing challenges that are making it difficult and more complicated to sell your house?
If the answer to any of these questions is yes, then you are in the right place! Consider all your troubles over because with the help of Reimagine Reality Solutions, selling your house can be as easy as A-B-C.
Reimagine Reality Solutions is a leading real estate investor. We provide support to families and neighbors by buying houses from the homeowners in the Austin, Texas area – beautiful hill country.
Basically, most of our clients are those who need to sell their house fast and do not have the time to list their property with an agent (we can close in as little as 7 days if need be). By selling your house to us, you also avoid the fees and costs associated with agents. We also buy houses in as-is condition. Therefore, you need not worry about any reasons that could hinder you from selling your house.
We are very passionate, honest, and straightforward with our clients. Our prices are also very fair. If at all you have any questions regarding your Texas real estate, please do not hesitate to contact us at (512) 575-2222 and we will be happy to answer you any time. You can also visit our website at www.reimaginerealtysolutions.com for more information.