![]() ![]() And they review and validate offers made by agents to make sure that everything’s been done correctly. They can work with buyers and sellers independently. Brokers can work for other brokers, hire real estate agents or run their own real estate agency. Broker: Real estate brokers are real estate agents with additional training and state-level licensing.Commissions are paid to the broker, and then it’s split with any agents who were part of the deal. Agents can’t work by themselves, and they aren’t allowed to take a commission directly from a client. ![]() Real estate agent: Real estate agents are essentially salespeople who are licensed to work under the umbrella of a real estate broker.Knowing the difference can help you understand how they’re all compensated. REALTOR®Ī real estate agent, a broker and a REALTOR® aren’t the same things. Negotiating skills: You can work with your agent to set expectations and rely on them to negotiate any real estate transaction details.Your agent, however, can be present for home inspections and appraisals to make sure everything goes smoothly. Their presence: Since you probably have enough going on in your life, you may not always be available to attend every meeting or inspection.Planning: If you’re not much of a planner, your agent can coordinate, schedule and organize open houses and home buyer visits.Marketing: Besides the MLS, agents can use additional online and offline marketing platforms to attract buyers.If you choose to sell your home without an agent, you’ll have to come out of pocket to access the database, and you’ll be charged for each property you want to sell. It includes hundreds of property listings, which agents can use to connect home buyers to sellers. Access to the multiple listing service (MLS): The MLS is a database created by real estate brokers.Guidance: If you’re unsure about how to price your property or have other questions throughout the process, have your agent advise you.For sellers, some of the services include: What Does a Real Estate Commission Cover?Ī good real estate agent provides a variety of services that are all covered under the commission. The commission, which is normally paid by the seller, is a percentage of the home’s selling price (think: 5% – 6%), but it can also be a flat fee. Agents make their money from the real estate commission. Real estate agents aren’t paid on an hourly basis. Understanding what a real estate agent commission is, what it covers and how it’s calculated can help you seamlessly execute your home buying or selling strategy and lead you to victory. Of course, recruiting the best quarterback in the league does come at a cost – and so will partnering with a licensed, professional real estate agent. The right real estate agent can help you come up with a game plan to score the best possible deal. Think of your agent as your coach, cheerleader and quarterback all rolled into one! One of the most important people you’ll recruit for your team is a real estate agent. But thankfully, there’s someone you can lean on every step of the way. Selling a home can be a tricky process to navigate. ![]()
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