Becoming a Real Estate Agent - Requirements & Standards
A real estate agent, real estate broker or realtor is someone who represents buyers or sellers of commercial real estate. An agent can work alone, but typically, an agent is working under a licensed agent to represent prospective clients. An agent's services include the negotiation and sale of commercial real estate loans and mortgages. In some cases, the agent manages the loan application process and the entire buying process. You can learn
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Realtors generally represent one business or individuals. The typical real estate agents will manage the loan application and the entire buying process. They often communicate with potential clients, provide property listings and represent buyers in negotiations for a possible sale price. They also may represent sellers in negotiations for a buyout offer. Some agents attend closed sales and may represent both buyer and seller at closing. The roles of real estate brokers and agents can also vary depending on the type of real estate transactions and loans.Read more great facts on Top Ontario Realtors
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Real estate agents must maintain certain professional conduct standards to qualify for licensing. Prior to certification, realtors must successfully pass the required exam. Real estate agents must also complete courses and earn continuing education credits in order to keep their certifications current. There are also ongoing ethical standards examinations that realtors must pass. These requirements are designed to ensure that realtors maintain a high standard of conduct. Realtors must be committed to maintaining a higher level of integrity and honesty, regardless of whether they are working with a buyer or seller.
Because there are so many different rules governing real estate agents and their conduct, attorneys play an important role in the industry. Attorneys represent many real estate agents and assist them in the many legal matters that arise throughout the course of their careers. Many states require that realtors take an ethics course and pass an ethics examination before being certified. Continuing education helps real estate agents stay current with the many laws and regulations affecting their profession and helps them meet continuing education requirements.
There are a number of professional organizations that exist for the purpose of regulating real estate agents and brokers. The National Association of Realtors, or NAR, is the largest association of brokers in the United States. Members must follow a code of ethical conduct and agree to limit their liability to clients for negligence or errors of omission. Real estate agents who become a member of NAR are also held to a national code of conduct, which makes it easier for them to be held accountable for unethical behavior. Other national organizations include the National Association of Securities Dealers (NASD) and the National Association of Franchisees of Property Dealers (Narf). Please view this site https://www.investopedia.com/terms/r/realestateagent.asp
for further details.
As a real estate agent and broker you have a duty to your client. This means that you have a responsibility to complete the transaction in the least amount of time and with minimal risk. You also have a responsibility to provide full disclosure to the buyer and comply with legal requirements. You can learn more about your obligations as a real estate agent and broker by registering online today.