Who Is A Real Estate Broker?

May / 26 / 2017

According to Wikipedia, a real estate broker or real estate salesperson (often called a real estate agent) is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to match up sellers who wish to sell and buyers who wish to buy.

Real estate brokers guide their clients through the process of a real estate transaction. When representing a seller, a broker lists the property for sale, advertises the property, and arranges and oversees open houses and other viewings. When representing a buyer, a broker works with their client to determine their needs, locates properties that fit with the client’s needs and budget, helps their client prepare their finances, and takes them to visit properties. Brokers may employ sales agents to work with their clients and take care of many of the above tasks, but they are ultimately responsible for all transactions that come through their brokerage. They are paid a commission on the final sale and pass some of that commission on to the sales agent who worked on the transaction. Although brokers work independently, they must also have strong business skills to attract potential clients, manage employees, and handle their brokerage’s finances. They must have more than sub-par communication skills to relate to clients, sales agents, etc.

Agents are licensed salespersons. They are not real estate brokers. A real estate agent must work for an employing broker and cannot work independently. Brokers are responsible for their real estate agents' actions.

A real estate broker is normally mistaken for a real estate agent. Most of the time, their functions are confused with each other.

A real estate agent is one that helps a person sell or buy a house. An agent may be the only point of call. They usually do not work for anyone else or have a major company that they work for. Meanwhile a real estate broker is at the top of the hierarchy when it comes to the real estate market chain. The broker is the one that contracts the agents to help a person buy or sell a property. Thus the process is that a person contracts a broker to buy or sell a property for them. The broker in turn assigns an agent to help this person accomplish their goal. For several years in Ghana, there have been a number of real estate brokers who have helped sell and purchase property for numerous clients. This has pushed the real estate industry and helped a great number of people find properties for homes, offices, etc. Aside the use of brokers, there are people who would cut out the middle man completely and purchase property right from a realtor. An example of such a realtor is Devtraco Plus.

At Devtraco Plus, Sales Associates guide you through the process of selecting the perfect home for you and your family right in that moment so there is no need for a broker or an agent.

Contact us now for any type of home you desire to buy or invest with us.

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