Like every other industry, Real Estate is also full of many buzzwords and terms. These words seem interchangeable and similar, but when we deep dive into the roles and responsibilities associated with these words especially when we talk about the professional tags, we discover that the two are completely different from each other and they need a completely different set of skills to be executed well.
A real Estate Agent and a Real Estate broker are two terms that are often interchanged. Though both the terms are related to the Real Estate industry, there is a huge difference between the two when we compare them based on the experience and license required to have this position.
Let us first begin with the most fundamental difference between the two.
A real estate agent refers to an individual who has a license to sell property in his/her state, however, a broker refers to an individual who has a license to have his/her own real estate firm.
This indicates that a real estate agent does not have the authority to work independently. A real estate agent must sell property under a broker who is licensed to own a real estate firm.
Now let’s deep dive into the roles and responsibilities of a real estate agent and a real estate broker.
Roles and responsibilities of a real estate agent
Real estate agents are licensed and trained professionals who operate under the licensed real estate broker and help people in each of buying and selling a real estate property from marketing to administrative & research work to closing the deal.
Administrative role of real estate agent include:
- Handling the phone calls, messages, and emails
Regularly updating the real estate property listings
Scheduling the appointments and showing the property
Drafting and delivering documents
Marketing role of real estate agent include
Creating and promotional material
Boosting the presence on online and social media platforms
Expanding network and reaching out to potential clients
Conducting marketing and advertising campaigns
Research-related role of real estate agent include
Be updated with the latest real estate markets trends and practices
Conducting market analysis of real estate
Check the open listings to find profitable properties as well as offerings from competitors
Search what clients need today and check the best deals for them as per the budget
In short, a real estate agent connects the buyers and sellers of property to facilitate and close the sale under a brokerage.
Roles and responsibilities of a real estate
Unlike real estate agents, a real estate broker is not a middleman. A real estate broker does not represent the buyer & sellers and does not facilitate the transaction, but employs real estate under him/her.
Roles and responsibilities of a Real Estate Broker
Can carry out the responsibilities of Real Estate Agents A real estate broker needs to have the real estate licensing as required in their state. They are eligible to carry out the operations of real estate agents to process the real estate purchasing and selling.
Supervise the Real Estate Agents
Real estate agents mainly focus on the technical components of real estate transactions and supervise the working of brokers. Besides, they also support the real estate agents in marketing, training, researching, listings, and solving the difficult real estate transaction.
In short, a real estate broker can work as a real estate agent also, but a real estate agent can not work independently like a real estate broker.
Is it better to hire a real estate agent or avail service from a real estate broker?
It is the same thing when you hire a real estate agent or avail services from a real estate broker as the real estate agent can not work individually.
Benefits of Real Estate Agent OR Real Estate Broker
The leading real estate companies like BULLS ESTATE in Mohali, Punjab, Sirohi Estate in Delhi, have a pool of well qualified, trained, and passionate real estate agents who help you in buying, selling, and getting a property on rent.
There are enormous benefits of hiring real estate agents as they are qualified and licensed. They thoroughly understand your budget and requirements and come up with the appropriate solution for you.
Real estate agents have wider connections with inspectors, appraisers, contractors, and landscapers and that is why they can help the buyer and seller of any type of property to readily get in touch with the appropriate person.
Besides, the real estate agents are well acquainted with the ongoing and upcoming trends of property design and prices. They can help you make the right decision. Real Estate Agents have good negotiation skills and they keep attention to every big and small detail.
Tips to hire the best Real Estate Agent or Real Estate Broker
- Research potential real estate agents in your state
Research for the potential real estate agents in your state before availing of the services. Real estate firms that are client-centered tend to provide all-inclusive services. Leading firms like BULLS ESTATE have knowledgeable and trained real estate agents to support you in each phase of the transaction.
- Check their online presence
Check the presence of the real estate firm on the online platforms. See if they are regularly updating the listings or not. Are they customer-centric or not? Check the reviews and feedback on their website and social media platforms.
- Check their projects
Ask the real estate agent or broker for information on their ongoing and upcoming projects along with the past projects. Check the structure, quality, and price of the projects. If it’s a residential property, you can check the facilities provided by them, in the case of land, you can check the increase in the value of the property. In case of upcoming projects, you can check the IT and infrastructure.
- Request references
Ask real estate agents or real estate brokers to provide contact information for their recent clients. You can call these clients and check with the flawlessness of the process, the support provided by the real estate firm, negotiations, etc.
Though the two terms real estate agent and real estate broker are commonly interchanged they are different. A real estate agent can work only under a licensed real estate broker. A real estate broker works independently and employs real estate agents to act on behalf of sellers and buyers of properties and close the deal with profit.
Both have significant importance in the real estate industry, however, a real estate broker can work without an agent but vice-versa is not possible. One should avail of the services from leading real estate brokers to make profitable investments in the finalized budget.
So, have you thought about buying a property in the new launch stage yet? If not, then start exploring the latest range of projects with BULLS ESTATE.
Call us at +9526895268 for more guidance; we are always here to listen. We will help you out in finding the best investment project.