5 Types Of Real Estate Agents

The law of agency plays a central role in governing the obligations, or roles and rights of individual agents. A real estate agent represents principals, as well as third parties, meaning that their rights and associated freedoms must be protected by a given body of law.

However, most people tend to confuse the terms “associate,” “agent,” and “realtor” by using them interchangeably, but they serve as titles assigned to different real estate personnel.

To address this confusion effectively, it is essential to provide a concise and clear description of the major types of real estate agents, in addition to the specific roles that they play. Below are five types of real estate agents:

1. Special Agent

In real estate, a special agent is a broker tasked with the responsibility of locating property. Broadly speaking, principals instruct special agents, giving them the go-ahead to play particular roles, under limited authority.

The acts performed by these agents do not bind the principal because they are often hired with the sole purpose of performing specific duties for clients.

2. General Agent

The general agent is the exact opposite of a special agent. In particular, they enjoy a great deal of authority to act for their principals. They can sign key or necessary documents, and transact businesses involved throughout the scope or period of the trade.

3. Listing Or Seller’s Agent

Apart from special and general agents, listing or seller’s agents work with the home seller’s best interest in mind. In essence, they systematically guide the seller on how to execute the home marketing, as well as the closing.

They employ a step-by-step approach to helping the home seller in listing their home in the MLS (multiple listing service). This will match sellers with qualified buyers faster, and more easily.

4. Buyer’s Agent

A buyer’s agent works hand in hand with their seller’s counterpart, but pushes for their client’s goals, the homebuyer. In this sense, they place great emphasis on guiding the buyer, from home searching to the close of the transaction.

Briefly speaking, a buyer’s agent plays a fundamental role in helping homebuyers find their dream homes, sign the relevant paperwork, and negotiate with qualified sellers.

5. Dual Agent

Some sellers and buyers collaborate and hire one agent to represent their terms in the transaction. Real estate representatives who broker on behalf of sellers and buyers are called dual agents. They have to keep both client’s best interests in mind, equally.

Like general agents, a dual real estate agent accomplishes a broad range of tasks, including guiding both clients on the suitability of the deal, the legal elements involved, and any other procedures.

Conclusion

It is evident that in one’s quest for a new home, they should always interact with, and engage with any of the five real estate agents. They possess the much-needed analytical experience and skills in choosing the right home. If you are looking for the perfect home in Cape Coral and are in dire need of an experienced real estate agent who knows Cape Coral inside out, contact Rebecca today.

They are not only licensed professionals, but also authorized to negotiate the sale and purchase of properties. Most importantly, the guidance offered by these agents remains a necessity to avert fraud and future legal issues.

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