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What does a real estate agent do? When thinking about buying, leasing, renting or selling properties, the real estate agent or broker is the first entity to involve. They may be individual persons or organisations that act as intermediary between buyer and seller as well as between lessor and lessee. The agents or brokers as persons or organisations are licenced to perform their functions to the client or customer based on trust. It is their duty to find the best deal possible which is somewhat confusing when it represents both the buyer and seller in dual representation for a particular transaction. Real estate agents or brokers usually conduct business under a written agreement without which they cannot be legally entitled to commissions. A written agreement is compulsory especially for dual client-customer intermediation to protect the broker’s licence for real estate practice. It should be clearly understood to the buyer or seller that the agent or broker act on their behalf fairly and honestly as it could cause losing the licence to practice if a violation should occur and be proven. The buyer or the seller has to trust the agent or broker on the progress and terms of the transaction as disclosed and pay the agreed commissions after the buy or sell transaction has been consummated. In fairness to the agents or brokers, there are none better than them as intermediaries for either the buyer or seller even under a dual transaction when both the buyer and seller are represented by the same go-between. The buyer can be assured of the lowest price in the best terms possible. The seller’s interest is also protected with honest negotiation terms and loyalty maintained by the agent or broker with accounting, confidentiality and disclosure kept in proper balance. No potential benefits in profit or savings are lost to either party represented. Real estate is a serious matter. Its practitioners have to be properly trained in the business with intimate knowledge of local and international real estate laws, practices and trends. They likewise have to pass government regulation and licensure examinations before they can actually and properly practice real estate brokering. Beginners have to sweat it out before they can even make their first sale. It is only after closing at least one major sale that they can be considered made. That is the way they build their professional confidence and reputation as a result of experience and the sizable income they derive from commissions. Real estate is one field where determination, thorough industry analysis and luck have to be present to strike a one-time drop-dead deal that could either send you to a comfortable retirement or place a bet on higher stakes.
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