Documents associated with the sale of a property.
The different types of realtor services are mainly divided into services for buyers or sellers. Brokers provide resources for home buyers and sellers, as well as advising on price negotiations. Many real estate agents also provide rental management services for landlords who want to rent a suite, home or commercial space to tenants. Some brokers specialize in commercial or residential real estate services.
Realtors offer services beyond just helping clients buy or sell their properties.
For buyers purchasing a commercial or residential property as an investment to earn a monthly income from renting the space, a real estate agent can offer a full landlord service. These realtor services often include locating and selecting tenants, as well as collecting rents. The customer generally pays a monthly fee for services, as well as any necessary repairs or other property expenses.
Realtors have access to information that lay people do not normally have. Popular realtor services include displaying buyer or seller comparisons or “comps” of similar properties in the same area. Comps can help buyers understand whether or not the seller has a reasonable list price for the property they are considering buying. They also serve as a guide for the seller to help decide on a fair list price for the property they are putting up for sale.
Brokers also access the Multiple Listing Service (MLS), which is a listing of properties for sale complete with pricing and information on building, land, and property taxes. One of the main types of realtor services is the display of properties, whether those for the buyer to see or the seller’s properties for interested buyers. Brokers representing the seller often include marketing services such as planning and managing an open house to bring groups of buyers to a home to view it. Most open houses take place on weekends in the late morning or afternoon.
A broker opening is a similar event, but it is organized by a realtor representing a seller for other brokers to attend. This type of customer service is often done to expand the network of potential buyers. Realtors present may find that the property appears to meet the purchase criteria of one or more of their clients. Other realtor services that may be available to clients are home prep techniques to prepare a home or condo to be best suited to many buyers, such as organization and light decorating. A realtor usually subcontracts a professional intermediary for the work and the client is charged for the service.
Client advice is a regular service provided by real estate professionals. They must be objective and provide customers with all known information about a property. In the case of realtor services, including seller and buyer representation, objectivity is especially important to avoid a conflict of interest. Many countries require strict contractual agreements that define the exact services a broker will do for a client and at what rate.