Property, requires experts to help understand and manage transactions. In the last decade, software and websites have changed the traditional real estate process. But regardless of how much technological advances, it will never replace real estate intermediaries – agents. Why? As important as real estate is to our society, it remains a conundrum for most consumers. Amongst various laws, documents and best practices, there are many things that are used to buy and sell property. To help consumers better understand the real estate process and to equip real estate agents to better market their business.
Real estate is defined as property and buildings on a specific plot of land. It also includes above and below ground air and underground rights, respectively. The term “real estate” means real, or physical property.
On the other hand, buyer’s agents work with people who want to buy real estate. They are responsible for finding potential properties, arranging shows and searches, negotiating on behalf of their clients, and assisting during the buying and closing process. Buying clients do not usually pay to work with buyer’s agents. If they manage to arrange the real estate transaction, the buying agent earns 3% of the gross selling price, also paid by the seller