Real estate agents basically specialize in one or two types of services. There are many processes when you buy or sell a property in real estate, each process has a different specialist involved to help you out. Let’s learn about different types of specialists/ real estate agents involved throughout the process of buying or selling property.
There are many types of real estate agents who are there to help you out in the purchase or sale of the property.
Real Estate Agents:- Real estate agents are basically mediators or intermediator between buyers and sellers. They help in negotiating deals, finding and listing properties, etc. The agents work with both buyers and sellers but sometimes some agents specialize and take responsibility only for buyers or sellers.
Listing Agents:- Listing agents are also known as seller’s agents. They are specialized in working with sellers and these agents help them to find potential buyers for their property. These agents help in determining property prices for selling, listing, and Marketing the property, coordinating the sales and closing process.
Buyer’s Agent:- Buyer’s agents are those agents who work with the buyers, they help them buy different properties best suitable for them at the best price. They also help in negotiations on behalf of the client.
Broker:- The real estate brokers are somewhat similar to agents but they have the freedom to start their own real estate business and can hire agents under them. They have more education and licensing than an agent.
Mortgage Lender:- Whenever you are purchasing a property in real estate always get a loan before bidding on real estate. The mortgage lender works with buyers and this basically an institution that provides money so that you can clear off your mortgage loan.
Appraiser:- The appraiser is someone who works to determine the market value of properties in real estate. All appraisers should act independently of the buying and selling parties without any biases. The appraiser is chosen by the mortgage lender.
Inspectors are hired by buyers’ property inspectors to evaluate properties so that there are no defects or security issues in the property. They can work for the government, real estate businessmen, or buyers work. These inspectors check every minute detail of a property.
Closing Attorney:- A closing attorney is someone who organizes and oversees the closing of a real estate transaction, as well as prepares the necessary paperwork and contracts. In some states, it’s mandatory for a closing attorney to be present during the closing of a deal.