Real Estate Agent - Becomes a Realtor?
One of the most important roles of real estate agents in corona,
is to provide housing brokers and agents with information about homes for sale. In most cases, a realtor represents only the seller; the real estate agent acts as a fiduciary for the seller, providing an objective view of the properties available for purchase. In some instances, however, a realtor represents both the buyer and seller. This is referred to as a mixed mode real estate agent or licensed real estate broker. It is the job of the realtor to act as a link between the buyer and seller, a third party who purchases the property for the highest possible price and then resells it to the client at a higher price.
Description. The term real estate agent is commonly used interchangeably with realtor, which refers to the broker who facilitates the sale of property. Real estate is land consisting of the structures and land on it; its accompanying natural resources like water, minerals or crops; and its immovable assets including the houses, buildings or other housing in general. In United States, real estate agents are licensed by the Department of Housing and Urban Development (HUD); in some states, they are also required to be registered with their states' Department of Business and Professional Regulations (DMP). In some states, real estate agents are exempt from having to obtain a license.
Types of Real Estate. An owner-occupancy type refers to the agent who sells residential lots. In a single family home, a single family owner-occupancy realtor acts as a sales representative for the sellers. The agent is an "asset-based salesperson" who has the responsibility of selling the property to the buyer. A non-asset-based realtor is a realtor who brokers residential lots to buyers on behalf of a seller, usually on an individual basis, and pays the association fees for his work. The commission a non-asset-based realtor pays to the association usually rates around 25 percent. It is important to note that not all brokers who sell residential lots are asset-based salespeople; in some states, a non-asset-based realtor may be required to pay an upfront fee to join the association. Do you wish to know about the types of real estate agents? then click for more info on this page.
Ethics and Business Practices. A major part of becoming a realtor is to be a member of the National Association of Realtors (NAR), a national, not local, organization devoted to building a community marketplace where realtors can serve as partners with buyers and sellers. According to NAR's ethics code, a realtor must conduct themselves with "dignity, respect, honesty, integrity, dependability and professionalism." It goes without saying that any realtor who is found to have disregarded any of these standards will be subject to discipline from the association. The National Association of Realtors has an official Code of Ethics that explicitly states that the association's ethics are guided by a set of principles that are derived from the Model Code of Ethics of the American Federation of Realtors (AFR).
Because the state of California is an "ongodly" state, when it comes to realtor ethics, the rules and ethics of the association can be very different than the rules and ethics of the state of California. Therefore, it is important for prospective members to make sure they are fully informed about the rules and ethics of the association in which they choose to become a realtor. Even if a prospective member already holds a valid license in another state, it is always a good idea to double check and to ensure that the rules and ethics of the association to which he or she belongs are not only comparable but identical to those of the national association.
Licensing and Certification All real estate agents must pass the state's licensing exam. The licensing exam may be taken online or at an approved school. Once you've passed the exam, you'll need to successfully complete a required Continuing Education (CE) period in order to keep your license active. Every state has a CE schedule that must be followed. When you renew your license, you will need to take the necessary continuing education courses to keep your certificate current. Follow this link for more info about: https://en.wikipedia.org/wiki/Real_estate_investing.
