Realtors are immense sources of information and assistance as he is the person in the marketplace who knows the process and has experience in negotiation. A Realtor acts as an intermediary between sellers and buyers. In other words, the markets real estate on behalf of clients.
When purchasing a home, a realtor as Buyer’s agent assists the buyer in selecting and purchasing the property at the lowest price under the best terms. They arrange for showings, draft Agreements of Purchase and Sale, and negotiate the transaction.
When selling a home, a realtor as Seller’s agent is responsible for helping the client sell the property by determining the best asking price, suggesting for renovations if required, and marketing the house through MLS (Multiple listing services).
It’s very important to obtain the services of a Realtor who you feel will give you the best experience. Referrals through friends and neighbors are the best way of choosing a realtor. Realtor is independent contractors and works on commission, normally 6% of the sales price of the home. The percentage of commission that realtor earns is set by the listing broker and published in the MLS. The seller approves the co-broking commission. The commission divided between the selling broker and listing broker. Both keep 50% of the commission.