Although you may think that selling your property will be easy, you will still need to make your home as attractive to potential buyers as you possibly can. You may know what good value your home is, but will it be quite that obvious to the buyer? (more…)

Have you been tempted to buy a foreclosed home? Have you been looking at the prices of homes up for foreclosure in your area but are not quite sure how to find out more about them? There are three main ways in which you can buy a foreclosed home, each with distinct advantages and disadvantages. You will need to look into the procedure carefully and decide which is the best way for you. (more…)

Deciding to buy your first home can be very exciting, as you imagine how you can decorate your hideaway in exactly the way that you want. You may already know how much you can afford to pay for a house, and may think that the only thing now is to find a place that you like in a good neighbourhood. There are however a considerable amount of other factors that you will need to consider when buying your first home. (more…)

Have you found your dream home and are now ready to put in an offer? Although you already know what the seller is asking for the property, you now need to decide how much you want to pay. One of the main things to look at when deciding on your offer price is comparable sales in the area. Comparable sales are recent sales on similar properties to the one that you wish to purchase. (more…)

Are you considering selling your home and are not quite sure where to begin? Deciding on the asking price of your home is one of the most important things that you need to do. The asking price is the amount of money that you will get for your home, and it will affect how much profit that you will come out with after the sale. (more…)

Basically Real Estate Broker or Agent is the intermediary between the buyer and the seller in a real estate deal. Under law real estate broker has what is called a fiduciary relationship with clients. This obliges the broker to act in his or her clients’ best interest.

From seller’s side, real estate broker helps to market the property using various methods in order to get the best possible price. Services offered by a real estate broker may include, giving an analysis of the current state of market, appraising the property, general marketing of property, guiding clients during the process of selling, preparing the necessary documentation and contracts, and auctioning of property if that is the requirement, among others.

While buyers can enter into a signed agreement with a real estate broker (thus obliging buyers to pay commission on conclusion of the deal) to search for a property at best possible price for them, that is not necessary. Buyers can deal with seller’s real estate broker or with others under a verbal agreement.

Brokers who assist in the deal without representing either the buyer or seller are known as transaction brokers and are not bound by the fiduciary relationship.

Real estate brokers are compensated depending on the role they played, by a commission based on a percentage of the gross transaction price of the deal, or through an hourly consulting fee.

Generally real estate brokers are required to have a license. In fact in some States of US unlicensed brokers are not entitled to receive commission and their activity is illegal. In some other states lawyers are allowed to deal with real estate matters in the same way as licensed real estate brokers. Buyers and sellers can also come to a deal without brokers.