What Are the Different Types of Real Estate Agents?
In the world of real estate, there are various types of agents, each with their own unique expertise and skill set. To help you understand the different roles and responsibilities, we’ve gathered insights from industry professionals who shared five distinct types of real estate agents, ranging from Seller Representative Specialists to Dual Agents representing both sides of a transaction. Dive into this article to explore the diverse world of real estate agents and find the perfect fit for your needs.
- Seller Representative Specialist (SRS)
- Realtor: A Higher Standard Agent
- Corporate Real Estate Agent
- Buyer’s Agent: Assisting Home Buyers
- Dual Agent: Representing Both Sides
Seller Representative Specialist (SRS)
One type of real estate agent is a Seller Representative Specialist (SRS). An agent with the SRS designation is a real estate professional who specializes in representing sellers in real estate transactions. They have completed specialized training and showed proficiency in representing sellers, including pricing, preparing, marketing, negotiating offers, and closing sales.
An SRS agent provides exceptional service, works in their client’s best interests, and performs duties such as conducting a comparative market analysis, advising on home preparation, developing a marketing plan, hosting showings, evaluating offers, negotiating terms, and facilitating the closing process. SRS agents help sellers achieve their real estate goals and navigate the complex process of selling a home with confidence.
Realtor: A Higher Standard Agent
A realtor is a type of real estate agent that is like a real estate agent plus.
A real estate agent can become a realtor by joining the local chapter of the National Association of Realtors (NAR) after their application is accepted and they pay membership dues. The dues can be local, state, and national, and can add up to several hundred dollars annually.
There are several advantages to being a realtor. As a member of the NAR, they have a realtor license, which lets everyone know they are a cut above their competition, enhancing their trustworthiness by embracing a strict moral code and being held to a higher standard of ethics.
Being a certified realtor also affords greater access to property listings than regular real estate agents have, including the Multiple Listing Service (MLS).
Corporate Real Estate Agent
A corporate real estate agent is a professional who specializes in helping businesses purchase, lease, manage, and dispose of real estate.
The difference between a general and a corporate agent is that they have an in-depth knowledge of local real estate markets and understand the complexities of the corporate real estate transaction process. They advise on corporate relocation, site selection, zoning, and furnished rentals.
Businesses are typically looking for properties for their employees and most of the time, it needs to be furnished. A corporate real estate agent has a database of these types of listings, while a non-specialized agent offers non-furnished ones.
Buyer’s Agent: Assisting Home Buyers
A buyer’s agent can assist you in locating properties that meet your requirements and budget, while you collaborate with them to complete the house-purchasing process efficiently. A buyer’s agent should look out for the interests of the buyer, helping them select the ideal home and inspector, and negotiating with the sellers to secure the best deal. Most frequently, a buyer’s agent is compensated with a commission.
Dual Agent: Representing Both Sides
A dual real estate agent equally represents both the buyer and the seller while assisting both parties. With both the buyer and seller, the agent must come to an agreement that they won’t provide information that would benefit or damage either side. Because they are representing two parties in the transaction, dual agents often earn double the commission.
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