What Do Real Estate Agents Do?

When buying or selling a home, real estate agents work so you don’t have to. 

Finding the right buyer or property can be time-consuming, so real estate agents will help speed up that work for you. With expert knowledge on local housing markets, agents on both sides work together to meet their clients’ needs.  

Real estate agents stay with you throughout the process, answering any questions and handling any paperwork you may need. 

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What is a real estate agent? 

A real estate agent is your go-to source for information and assistance when buying or selling a home. Having been through the process before, an agent can guide you, answer questions and help with any necessary paperwork. 

While real estate agents are not required, they can speed up the process and make sure their client is in a better position when negotiating and closing. 

What does a real estate agent do? 

A real estate agent has different roles depending on whether you are a buyer or seller. 

For buyers 

If you are a buyer, a real estate agent will match you to the property that suits your needs. 

A real estate agent will narrow potential properties based on price and location. After finding the right location, a buyer’s agent will attend the home inspection and talk with the seller’s agent to present an appealing and affordable offer.  

If you aren’t already pre-approved for a mortgage, real estate agents can also connect you with a lender. Being pre-approved will help you and your real estate agent know your budget when looking for homes. 

Real estate agents stay with you until the property is closed on to ensure a smooth purchase and answer any questions that may arise. 

For sellers 

With sellers, a real estate agent, or listing agent, works to establish a sale price that is both fair for the seller and enticing for buyers. 

With knowledge of the neighborhood and market trends, a seller’s real estate agent can strategically price a property. Agents also have access to marketing tools that help a home stand out in a crowded market. 

As offers start to come in, an agent will vet potential buyers for seriousness, proof of funds or pre-approvals.  

When a buyer is found, a seller’s agent works to ensure their client gets the maximum value possible. In the case of multiple buyers, an agent will help determine which offer is best for you. 

Can the seller and buyer have the same agent? 

When a buyer and seller have the same agent, it is called dual agency and is only legal in eight states. 

If you live in Wyoming, Vermont, Texas, Oklahoma, Kansas, Florida, Colorado or Alaska, you can have the same agent as the buyer or seller. While dual agency is legal, it is not the best option as it can be hard for the real estate agent to represent both the buyer and seller’s interests. 

Real estate agents vs. brokers 

To legally help people buy and sell properties, real estate agents are required to work with, or hang their license at, a brokerage firm. Brokers do the same job as agents but are also licensed to work independently, through a broker’s license, and may employ real estate agents to work for them. 

Real estate agent vs. Realtor 

A Realtor is a real estate agent who is a member of the National Association of Realtors (NAR) and adheres to its code of ethics. Either an agent or a Realtor can help you in the buying or selling of a property. 

How much do real estate agents cost 

Real estate agents typically get a percentage of the home’s sale price, normally around 5%-6% to be split between the buyer and seller’s agent.  

Usually, agents' fees are paid by the seller. However, after a lawsuit settlement in 2024, sellers are no longer required to pay for the buyer’s agent. So, make sure you check with your agent before closing. 

Types of real estate agents 

While an agent can buy or sell most homes, there are some who specialize and are familiar with the needs of certain clients or properties. 

Residential 

These are your classic real estate agents who specialize in buying, selling or renting out properties for personal use. 

Commercial 

Commercial real estate agents have a knowledge of business trends and market forecasts to help you close on business properties such as hotels, shopping centers and office buildings. 

Luxury homes 

Buying and selling luxury homes can come with their own set of challenges that other residential properties might not have. These real estate agents know what to look for in all the features and amenities that can come with a luxury home. 

Short sales and foreclosures 

To navigate complex transactions, real estate agents need to have a deep understanding of legal and financial situations that can occur with these kinds of properties. 

Senior Real Estate Specialist (SRES) 

SRES agents work with clients over the age of 50. These agents have received specialized training to understand the unique challenges that seniors face. 

How to find a real estate agent 

There are many platforms and directories that can help you find a real estate agent. 

When looking, find a local agent who is an expert in what you want. Always make sure you have the right agent for your needs, whether you are seeking a house, condo or someone who can assist you in the loan and mortgage process. 

Have an agent and ready to start that process?