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Understanding Real Estate Agents and How O1ne Mortgage Can Help You

Buying or selling a home is a significant milestone, and having the right professionals by your side can make all the difference. In this article, we’ll explore the roles of real estate agents, brokers, and Realtors, and provide tips on finding the right agent for your needs. Plus, we’ll introduce you to O1ne Mortgage, your go-to partner for all mortgage services.

What Do Real Estate Agents Do?

A real estate agent is a licensed professional who assists buyers and sellers with property transactions. Agents can specialize in working with buyers, sellers, or both. Here’s a closer look at their roles:

What Does a Buyer’s Agent Do?

• Finding the Perfect Home: A buyer’s agent helps you identify properties that match your preferences and budget, saving you valuable time.
• Creating a Fair Offer: They assist in drafting a competitive offer based on local market trends.
• Negotiating on Your Behalf: An experienced agent will negotiate the best price and terms for you.
• Facilitating the Transaction: They ensure all paperwork is correctly submitted and recommend reputable professionals for inspections.

What Does a Seller’s Agent Do?

• Establishing the Best Price: A listing agent reviews comparable properties to estimate your home’s value.
• Marketing and Advertising: They list your property on the MLS and promote it through various channels.
• Preparing Your Home for Viewing: Agents suggest improvements to enhance your home’s appeal.
• Negotiating with the Buyer’s Agent: They advocate for you during negotiations, keeping you informed throughout the process.

Real Estate Agent vs. Real Estate Broker

While both agents and brokers help people buy and sell homes, there are key differences:

• Real Estate Agent: Licensed professionals who work directly with clients under a broker’s supervision.
• Real Estate Broker: Experienced agents with additional training and a broker’s license. They can work independently or oversee other agents.

Real Estate Agent vs. Realtor

Not all real estate agents are Realtors. Realtors are members of the National Association of Realtors (NAR) and adhere to high ethical standards. They also receive ongoing education to enhance their skills.

How Are Real Estate Agents Compensated?

Agents typically earn a commission from the sale, paid by the seller and split between the buyer’s and seller’s agents. This commission is usually around 5% to 6% of the sale price.

Do You Need a Real Estate Agent?

While it’s possible to buy or sell a home without an agent, having one can simplify the process and ensure you get the best deal. According to the National Association of Realtors, 86% of buyers worked with an agent in 2022.

How to Find the Right Real Estate Agent for You

Choosing the right agent can make your home transaction smoother. Follow these steps:

• Search for Reputable Agents: Ask for recommendations and read online reviews.
• Meet with Multiple Agents: Interview at least three agents to find the best fit.
• Prepare Questions: Ask about their availability, communication methods, and marketing strategies.

The Bottom Line

Using a licensed real estate agent can help you navigate the complexities of buying or selling a home. And when it comes to securing a mortgage, O1ne Mortgage is here to assist you every step of the way. Call us at 213-732-3074 for all your mortgage service needs. Our team of experts is ready to help you achieve your homeownership dreams.

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