Real estate agents are at the heart of the real estate industry. However, there are different types of real estate agents who are specialized in different aspects of the real estate process.
Before we delve into the different types of agents, let’s go over what real estate agents are in general. Real estate agents are experienced professionals whose job is to help the investor through the different stages of the real estate process. They usually represent the buyer or the seller, but they sometimes represent both at once. Overall, real estate agents are great communicators, thinkers and deal makes who serve the interest of the party that hired them.
The types of real estate agents usually differ based on level of experience and education, and they can be categorized into four broad categories:
Realtors abide by stricts standards of ethics and a moral code which makes them more trustworthy and more competitive within the real estate market. To become a realtor, a real estate agent has to complete a pre-licensing course and a licensing exam. Hiring a realtor opens up opportunities unavailable for other agents.
Brokers are real estate agents with a higher level of education and experience within the real estate industry. The specific qualifications needed to become a broker vary depending on the location, but once the qualifications are achieved, brokers often become owners and manage their own real estate agencies.
Selling agents are real estate agents who offer their services to those looking to sell their properties. They typically represent the interests of the seller or owner of the property, and they have a variety of different responsibilities, including marketing and advertising the property and handling walkthroughs.
On the opposite of a selling agent is a buying agent who supports potential buyers in their quest to find the right property. Real estate buyer agents help buyers find, analyze and compare properties as well as negotiate and close a deal.
A bonus category of agents is dual agents. These agents take on the dual role of buyer’s and seller’s agents. But it’s not always legal to be a dual agent due to a perceived conflict of interest, it depends on the state. In line with dual agents, a dual agency refers to two real estate agents within the same agency representing the two parties.
If you’re a real estate agent, we, at The Cheviron Academy, can help you build your career with all the needed knowledge, skills and information.