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Rhode Island Real Estate Article

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The Importance of Real State Agents

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A successful real estate transaction lies in the skilled hands of a good real estate agent. Also called brokers or estate agents, real estate agents function as intermediary agents between the sellers and buyers, and they assist in the transfer of property. Needless to say, real estate agents play a very significant role in realty transaction as they are primarily responsible to inform clients of the properties that are available. They also locate realty for potential purchasers. In addition, real estate agents are also the ones who are in charge of managing legal documents associated with the transactions. Under certain circumstances, they also facilitate the buyers’ applications for loans that will serve as compensation for the real estate.

Countries outside the United States utilize diverse tactics to market real estate. Despite these variations in the roles of real estate agents across the countries, the fact remains that they are very important in the real estate industry. Below is a list of responsibilities of a real estate broker:

• Comparative Market Analysis – comparison of real estate values from different resources
• Exposure - promoting the real estate to potential purchasers
• Facilitating a Purchase – supervising a buyer throughout the transaction
• Facilitating a Sale – helping a seller with selling procedures
• FSBO document preparation - managing important documents for "Sale by Owner" sellers
• Full Residential Appraisal – this is observed if the real estate agent has the license to appraise
• Home Selling Kit – serves as an instruction in marketing and selling property
• Consultations – paid sessions in which subjects are discussed according to the needs of the clients
• Leasing – a written agreement that indicates that the real estate owner permits the tenant to utilize the property for a given duration of time and rent. The task may also include the preparation of the contract and the lease
• Other Responsibilities - property management, exchange and auction of property

However, not everyone can be qualified for the job. To establish a tint of legality in the work and to make it more systematic as well, real estate agents in some areas in the US are obliged to apply for a license, as this will allow them to accept fees for the assistance they render to their clients. Meanwhile, lawyers in some US jurisdictions are permitted to facilitate realty transactions for payments without being licensed real estate agents. To further magnify the chance of a successful transaction, a real estate education is needed. Frequently, the real estate brokerages grant this education as a way of recruiting new brokers. Unlike in the past, a real state agent is now compelled to reveal his potential purchaser and seller.

Needless to say, real estate transactions are made easier with the assistance of a real estate agent. However, as a client, one must choose an agent who is professional in his work and has the necessary knowledge and skills in the business of real estate.





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