Real Estate

5 Things To Know About The Real Estate Business

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Whether you are looking to buy or sell property, you will need to encounter a real estate agent – a professional that offers many services to buyers and sellers alike. If you are planning to purchase your very first home, you won’t need any working experience dealing with a real estate agent. With that in mind, here are a few things that you probably didn’t know about the real estate business.

Free Service To The Buyer

This is likely to make you very happy if you are a potential buyer. The real estate agent has an agreement with the seller, which might be a percentage of the sale price, or a fixed fee, which is a popular way for the real estate agent to charge for their services.

Real Estate Agents Offer Many Services

You would be forgiven for thinking that a real estate agent only sells land and property. This, of course, is their bread and butter, yet they also offer legal services and a home-loan department with a connection with several lenders. When a British citizen, for example, wishes to buy a luxury apartment in Royal Palms Mijas by One Eden, there might be a language issue. Worry not as there are English-speaking real estate agents that can guide you through the buying process.

Mortgage Pre-Approval

Before you can start looking at properties, you need to be 100% sure that you can obtain a loan. Sellers are not really interested in talking to someone who does not have mortgage pre-approval. You might agree to buy the property but are unable to find a mortgage. When you have pre-approval, this is like a guarantee that you will be able to obtain the loan you need.

It’s All About Performance

When looking for a real estate agent to list your property, you ideally want an agency that has a great track record. Find out what is the average amount of time a property is listed before it is sold. A good real estate agent would have a decent performance scale, selling listed homes in a very short time, which is something every seller wants.

Transparent Pricing 

When selling a property, it is important that you budget effectively and you can only do that when the real estate agent is clear on their pricing. Most people prefer a fixed-fee basis, which means there are no nasty surprises further down the road.

Of course, if you are a buyer, the services of a real estate agent are free and by approaching a leading agency, they would have the best properties listed on their website. Agency staff are dedicated to helping you to find your dream home and they can offer a wide range of other services.

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