For the majority of people who are relatively unfamiliar with the real estate industry, terms like real estate agent, and real estate broker might seem interchangeable. This common mistake, however, is one that could impact the outcome of your real estate transaction and experience. After all, finding the right real estate agent or real estate broker is an important step within your real estate experience, by not understanding the difference you could be limiting your options, negatively impacting your own experience.
What is the Difference between a Real Estate Agent and a Real Estate Broker?
A real estate agent is a real estate professional that has completed and passed all of the required real estate classes and exams in the state in which they work. This is considered to be the starting point for most real estate professionals. Real estate agents are often also referred to as real estate associates. Whereas, a real estate broker is someone that has continued their real estate education and passed the real estate broker licensing exam. Real estate brokers are able to work as a part of a team, independently, or hire other real estate agents to work for them.
Now that the difference between the titles has been explained, here are 3 tips to help you find the right real estate agent or real estate broker for you.
1. Talk to a Few Prior to Hiring Any
As in all situations, it is important that you do your research if you want to ensure that you get the best deal, and find the best real estate representation for you and your family. Depending on where you live, different real estate agents and real estate brokers are sometimes able to offer varying commission rates. Additionally, some focus primarily on real estate transactions that involve a certain style of residential real estate (such as apartment style condominiums, or new developments). By speaking to a few you will be able to narrow down you list to those who can offer you the best deal, and are the most qualified.
2. Know Your Timeline
If you have to move on a tight timeline due to work, or other obligations, that can have a huge impact on who you want to hire. Some real estate companies offer to buy your property at a discounted price if it does not sell after being on the market for a certain length of time, other real estate agents will reduce their price if a property does not sell after it has been listed for a certain amount of time.
3. Listen to Your Gut
In order for your real estate transaction to not only be successful but also an enjoyable experience, you need to feel comfortable and confident in the abilities of whoever it is that you hire. Listen to your gut, if you do not feel comfortable or like you can trust a perspective agent then don’t put yourself through working with them, there are lots of real estate professionals out there for you to choose one.
Remember, finding the right real estate agent or broker can make an already stressful and emotional time a lot easier. So take the time, and find one that works with your budget, timeline, and makes you feel confident going forward.