Go back to the Real Estate Glossary
What Is a Real Estate Agent?
A real estate agent (also known as a realtor) is a professional who helps people buy, sell, or rent properties. They work with clients to find the best possible property for their needs and budget. Real estate agents also help clients negotiate prices and complete paperwork. They typically work for a real estate brokerage, where they are paid a commission for their services.
When selling a home
A real estate agent goes through the process of listing the home, marketing the home, and negotiating with buyers in order to sell the home for their client. They are also responsible for handling any paperwork that needs to be filled out in order to complete the sale.
When buying a home
A real estate agent helps a client buy a home by guiding them through the processfrom finding a home to making an offer to closing on the deal. They provide advice and support every step of the way, and make sure the client is getting the best possible deal.
How Is It Used in Real Estate?
Real estate agents are an important part of the real estate process. They help to connect buyers and sellers and negotiate the sale of a property.
The term is widely used by almost every party involved in the home buying or selling process. It’s the main term used to define someone who helps you buy or sell a home.
Example
Jasmine is looking to buy her first home. She is unsure of who to ask for advice and what kind of professional she should approach.
She reaches out to her co-worker who recently bought a home and gets a recommendation to see Daniel Johna widely known real estate agent in Metro Vancouver.
She phones Daniel John and they begin to work together on finding her dream home.
Frequently Asked Questions
Who pays commission to the real estate agent?
In a real estate transaction, only the seller pays the commission for selling their property.
However, the seller does not pay that commission directly to the agent.
Real estate agents in British Columbia work for a real estate agency, which is responsible for receiving and handling the commission payments for agents that work for that specific office.
The agency or broker may take a slice of the commission from each deal, then the real estate agent gets paid their portion for the work they do.
Recommended reading: Who Pays Real Estate Agent Fees? The Buyer or Seller?
How do you find a good real estate agent?
Choosing to work with a real estate agent can be one of the best decisions you can make when it comes to buying or selling a property.
An agent’s expertise is used extensively to help you navigate through the ever-changing real estate market.
When you work with an honest real estate agent, they make sure to charge you a fair commission for the effort required to sell your home for what you’re looking for.
That’s why Metro Vancouver Life, your friendly local guides to Metro Vancouver real estate, are here to help. Get in touch with us today by calling or texting: 604-253-0788.
