How a Real Estate Agent Works

Buying or selling a home is a big deal, so it’s important to know how a real estate agent works. They can help you get the best price for your property or help you find a new place to live. If you’re not sure whether to work with a realtor, here’s what you need to know about their roles and responsibilities.

What Is a Real Estate Agent?

A real estate agent is a licensed professional who works under the supervision of a real estate broker. They typically have a wide range of experience, training and knowledge about the real estate industry. They can help you navigate the buying or selling process and provide valuable insights at every step.

How Do They Work?

A realtor’s duties and responsibilities vary by state, but they are often responsible for managing a client list and guiding clients through the process of buying or selling a home. They also handle communication with other parties involved in the transaction, such as mortgage lenders and real estate attorneys. Read more

How Do They Make Money?

A Realtor’s salary is based on a percentage of the sale price. This is known as a commission, and it can be as low as 5% or as high as 6% of the sale price.

How Do They Handle the Paperwork?

A real estate agent guides you through all the paperwork that’s required during the home buying or selling process. They’re the ones who submit all of the paperwork to the appropriate parties, and they’re also the one who takes care of any issues that may arise in the process.

How Do They Work with Other Agents?

A good real estate agent will have a strong network of other agents, so they can offer support and resources as needed. This includes recommending other professionals, such as mortgage brokers and real estate attorneys, who can provide additional services to clients.

How Do They Keep Up With Their Responsibilities?

A great real estate agent will have a clear plan of action for balancing their time between listing properties and helping clients. This can include preparing for showings and appointments, sending out emails or texts to interested buyers, handling phone calls with sellers and attending closings.

How Do They Work with a Broker?

A real estate broker is an individual or company that provides real estate agents with the tools, services and resources they need to successfully sell homes. The brokerage will usually provide support in the form of marketing materials, professional photography, social media management and contract negotiation. Learn more

How Does a Broker Split the Commission?

A brokerage typically splits the commission evenly between a buyer’s agent and seller’s agent, but this may not be the case for all transactions. Some will have fixed percentages that are applied to all transactions, while others will allow the split to be graduated based on the agent’s overall success or experience.

How Do They Maintain a Relationship with Their Clients?