Do you want to buy or sell some property? Hire a real estate agent.
If this is the first time you are buying or selling property, some technicalities can confuse you. If you can’t even spot the difference between a real estate agent and a realtor and can’t tell the difference between a buyer’s agent and a seller’s agent, then you are not on the right track. However, all of that will change once you make it to the end of this article. In the upcoming paragraphs, we will help you identify the different types of real estate agents and find out what their specific roles are.
The term Real Estate Agent applies to any individual who goes to school until they clear their state’s license examination. Besides monitoring activities in the local market, they assist buyers and sellers in several ways. Let’s take a look at the type of real estate agents and the roles they play.
Buyer’s Agent
As the name suggests, a buyer’s agent works exclusively with parties that are in the process of looking for a home. They guide them throughout the process, from searching a home to closing the transaction. A standard buyer’s agent does the following.
- Helps you find a home of your choice
- Negotiates with the seller on your behalf
- Involves home inspectors and similar individuals
- Takes care of the necessary paperwork
Seller’s Agent
On the contrary, a seller’s agent works for the people who are looking for potential buyers to sell their property. A seller’s agent helps sellers market their property and takes care of the transaction until it’s closed. A seller’s agent does the following things.
- Helps you make your home presentable to the buyers
- Markets your property on different platforms
- Connects the sellers to potential buyers
- Negotiates with the buyers on the seller’s behalf
Dual Agent
Now that we have discussed two different types of real estate agents, wouldn’t it be nice if we could find an agent who excelled at everything? Well, this is where a dual agent comes in. It represents both the buyer as well as the seller in the same transaction. For example, if you are planning to sell a property in Oakland, CA, the dual agent will serve as a mediator between you and your buyer.
Transaction Coordinator
A transaction coordinator serves as an assistant to the real estate agent. They assist real estate agents or broker process administrative items throughout real estate transactions. They are the ones to open accounts, gather paperwork, and make sure the documents are properly filled and signed to avoid any discrepancies in the process.
We hope the aforementioned information helps you differentiate between the various types of real estate agents and the roles they play.
