DIFFERENTIATING BROKERAGE PERSONNEL FROM OTHER NAMES IN THE REAL ESTATE INDUSTRY17 Jul 2019
When dealing with the real estate industry, especially when it is your first time, encountering the terms brokers, agents and realtors may all mean the same thing to you. Or you may get confused who is who amongst them. And your confusion or conclusion of these people’s responsibilities and tasks can be an issue. If you want to get the most out of your property investments, you need to have adequate knowledge about the terms and procedures involved in real estate. Don’t let your lack of knowledge get the better of you. And never leave your investments completely in the hands of agents from just any property management companies, unless they have proven their trustworthiness and reliability, just like the staff at Zawaya Property.
Always have your say in things and do your research. Start by differentiating who is who and know what are the duties and obligations of a real estate broker and an agent when it comes to handling your property investments.
Real Estate Brokers
There are a number of real estate professionals that you need to identify when you want to land a successful investment transaction and make the most out of it. And the first person you need to know is the broker.
What differentiates a broker from the rest of the people in real estate is that he or she has a broker’s license, and can work independently. They can also work as agents, or have agents work under them. Basically, they generally have a higher level of education and are better trained to work in the real estate industry compared to many others. And here are some of their duties:
- Handles transactions for seller, buyers and renters
- Works on the seller’s behalf
- Supervises and reviews the work of agents under them
- List properties on different listing sites and promotes them professionally
- Delivers and explains contracts and other documents
- Helps clients create an offer or purchase agreement
- Helps in inspections and repair discussions
- Assists in closing of a transaction and taking hold of property sales
Real Estate Agents
While real estate agents are licensed salespeople, they can’t work as brokers unless they have a broker’s license. And they must work under brokers in order to lead clients to buy, sell or rent properties. Their responsibilities include:
- Counsel clients on the real estate market, prices and mortgages
- Show properties to clients
- Facilitate negotiations between buyers and sellers
- Makes sure contract terms are met
- Promote properties through different marketing strategies
Now that you are better informed about these people, all you need to do is find the best broker and agent to work with you towards a better investment. And you will definitely find them at one of the best property management companies in Dubai, Zawaya Property. Visit their website now to know more about them.