A real estate agent, real estate broker or realtor is someone who deals directly with buyers or sellers of commercial real estate or residential real estate. While most agents work independently, in many instances an agent will work under a licensed brokerage to represent individual clients. Brokers are often involved in a transaction from start to finish. This means they are involved in meeting with clients and finalizing the deal. An agent will also make sure property owners have all the necessary paperwork in order to close on the property as well as ensuring that closing occurs on the scheduled date. Checkout Orchard Park Real Estate Agency for more info.
The term “fiduciary” means that an agent is expected to act in the best interest of the buyer or seller, and not in any other way. In a residential real estate transaction, a fiduciary would be the home buyer or seller, their lawyer and any other individuals who may be involved in the transaction. The reason for a broker or agent being a fiduciary is to act in the best interest of the group as a whole, rather than acting in the best interest of individual clients. For example, a real estate brokerage firm may be represented by an attorney and a real estate attorney.
As a real estate agency broker or agent you will be required to complete periodic licensing examinations and ongoing reporting. These examinations are designed to prevent the fraudulent practices of unlicensed brokers and agents from occurring. Real estate transactions are complex and can take months to close. It is essential to keep in mind that the needs of each client must always come first, and that no matter how good your service is to a buyer or seller, it is their decision that affects the final price of the real estate purchase or sale.
Berkshire Hathaway HomeServices Western New York Properties
6524 E Quaker St, Orchard Park, NY 14127
Phone No. : (716) 539-4040