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What Is a Real Estate Agent?
Real estate agents are licensed professionals who arrange real estate transactions, putting buyers and sellers together and acting as their representatives in negotiations. Real estate agents usually are compensated completely by a commission—a percentage of the property’s purchase price, so their income depends on their ability to get a deal closed.
How a Real Estate Agent Works.
Real estate agents usually specialize in either commercial or residential real estate. Either way, they perform different duties, depending on whether they work for the buyer or the seller. Agents who work for the seller, also known as listing agents, advise clients on how to price the property and prepare it for sale, including providing tips on last-minute improvements that can boost the price or encourage speedy offers. Seller agents market the property through listing services, networking, and advertisements.
Agents who work for the buyer search for available properties that match the buyer’s price range and wish list. These agents often look at past sales data on comparable properties to help prospective buyers come up with a fair bid.
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Agents act as go-betweens for the principal parties, carrying offers and counter-offers and other questions back and forth. Once a bid is accepted, agents on both sides often continue to work, helping their clients through the paperwork, conveying communications, advising on inspections and moving, and generally shepherding the deal through to closing.
What you need to know to get started.
According to the National Association of Realtors, 87% of real estate agents fail out of real estate within the first 5 years. The reason is simple: Agents fail to earn enough income to stay in business. At Blake Cory Home Selling Team our agents create thriving real estate careers with an average annual income of $127,000 and our top agents earn over $200,000 per year.
If you’re still wondering what a real estate professional’s day-to-day schedule looks like, the best action you can take is to talk with someone who is actively working in the industry. Blake Cory’s agents are always willing to have a conversation (another great realtor asset!) so reach out at www.joinblakecory.com. We’re looking forward to hearing from YOU!