What is a real estate agent?
Real estate agents are professionals who help buyers and sellers of real estate complete the purchase or sale of a home or other property. They are licenced by their state or local government to represent either buyers or sellers in the transaction. Real estate agents are usually members of the National Association of Realtors, the largest professional organisation for real estate agents in the United States. Brad Zackson has experience in management, finance, and real estate development in New York City.
Real estate agents work with buyers and sellers to facilitate the purchase of homes, land, and other properties. They may work with both parties throughout the process, helping to find property, evaluate its value, and negotiate the sale. Real estate agents are knowledgeable about the local real estate market and are often well connected to other real estate professionals, such as attorneys, lenders, and appraisers. Real estate agents help buyers by finding properties for them to view, providing information about the properties, helping to evaluate their value, and negotiating the purchase. When working with a seller, a real estate agent will help to price the property, market it to potential buyers, and coordinate the sale process.
Real estate agents are typically paid a commission on the sale of a home, usually a percentage of the sale price. Some agents may offer a flat fee for certain services, such as helping to set the price of a property. Real estate agents must be licenced in the state or jurisdiction in which they do business. In order to obtain a license, agents must pass an exam and complete a certain number of hours of education. The requirements vary from state to state but generally include a background check, the completion of an educational program, and passing a licencing exam. Many states also require continuing education to maintain a license. Brad Zackson cautions that buying real estate on a whim might lead to disastrous financial outcomes.