Real Estate Agent FAQs
If you still have more questions about what all does a real estate agents do, you might benefit from reading this list of commonly asked questions.
What does a real estate agent do after closing?
Here are some of the main duties a real estate agent has after their client has closed on a home:
- Reach out to clients after 30 days to make sure they’ve settled in without problems.
- Answering any questions about the contract.
- Offering a list of local utility companies to use.
- Giving recommendations for contractors, landscaping companies, etc.
It’s a good idea to keep in touch with your real estate agent after closing on your home – writing a thank you letter can be a great way to do this.
What does a commercial real estate agent do?
A commercial real estate agent specializes in purchasing or selling commercial property. For instance, if you were looking to buy an investment property, you would likely work with a commercial real estate agent.
Although they sell different types of properties, the daily tasks of a commercial real estate agent are like what residential agents do. However, commercial real estate agents may also have to handle leasing properties in addition to purchasing and selling.
What does a closing agent do?
Closing agents are real estate professionals who work for home buyers and help them progress through the closing process. They ensure that the property has a clear title and there is a smooth transfer of ownership. Closing agents do have some unique responsibilities and can help speed up the buying process.
Can anyone become a real estate agent?
Yes, anyone over the age of 18 can become a real estate agent. However, you will have to complete your pre-license registration and pass your real estate license examination.
On average, it takes 4 – 6 months to complete the required coursework and take the exam. But the exact licensing requirements vary state by state.
Are real estate agents worth it?
If you’ve been considering buying a home without an agent, you may wonder if working with a real estate agent is worth it. After all, you don’t technically need a real estate agent to buy or sell a home.
And real estate agents receive a commission between 5% and 6% of the sale price. That means if you sell your home for $250,000, your agent could receive up to $15,000 of the proceeds.
However, most people find that real estate agents are well worth the small commission fee. Here are a few of the ways realtors can help you:
- Research homes and neighborhoods that match your budget and lifestyle.
- Share inside information about a particular home or neighborhood.
- If you’re buying, your agent will negotiate an offer with the seller and help you get the best deal possible.
- If you’re selling, your agent will list your home and market it, so it reaches many potential buyers.
- Decipher the legal paperwork and help you understand what everything means.
How do I find the right real estate agent for my situation?
There are several routes you can take if you’re trying to find the right real estate agent. The best place to start is to ask for referrals from family and friends. Once you’ve received a few recommendations, make sure to review their resumes.
Once you’ve narrowed your search down to a few candidates, you might want to schedule an interview where you can ask the agent some questions. For instance, it’s a good idea to ask if they have any referrals from previous clients.
What is the difference between a real estate agent and a REALTOR®?
A REALTOR® is a real estate agent who is a member of NAR and abides by their code of ethics. So basically, every REALTOR® is a real estate agent, but a real estate agent may or may not be a REALTOR®.
However, a REALTOR® isn’t necessarily better at their job than a real estate agent. If you’re trying to choose a REALTOR® or real estate agent, you should consider that person’s experience, credentials and skills above all else.