An agent is a licensed professional who facilitates the sale and purchase of homes and other real estate properties. Real estate is real property consisting of the buildings and land on it, and its accompanying natural resources like water, rocks or plants; and its accompanying liabilities like crops, livestock or capital equipment. It also covers the right to rent or use the property for a specified purpose. Real estate agents facilitate the transaction of real estate by negotiating with prospective buyers and sellers. Agents also find buyers for real estate properties and perform evaluation and planning on behalf of their clients. See more about realtors. To carry out the real estate transaction agents must be registered under the Realtor Practices Act 1990. The Act sets out rules and guidelines for real estate agents, including their conduct, business, membership and relationship with consumers. The regulations also provide for reasonable penalty for failure to comply with the standards. The best interests of the buyer and seller must be balanced in the process of real estate transactions. There are two types of real estate agents the independent and affiliated. An independent real estate agent may represent more than one company or may be employed by only one firm. Affiliated real estate agents are engaged under a single broker, usually the owner or manager of a real estate agency. Under normal circumstances the broker maintains a relationship with the buyer and seller and facilitates real estate transactions in the best interests of both the buyer and seller. Buyers and sellers have the right to enter into a contract with a realtor, which ensures that the interests of both parties are protected. If a brokerage fails to perform its duties it can be held liable for breach of contract. A Realtor can become a member of either an organization or association. One type of association is the National Association of Realtors, which is run by the National Association of Realtors, Inc. Another is the National Association of Wholesale Distributors, Inc., which sponsors the annual Realtor show. Other associations include the American Association of Real Estate Appraisers and the National Association of Realtors, Inc. In some states there are restrictions on the sale of a house to a non-residential client. In California the only state that restricts its realtor activities is the California Franchise Disclosure Act, also known as the Californian Condominium Dealers Act. Most other states' laws do not limit the activities of realtors. There are several national organizations that offer standardized examinations to realtors hoping to join their ranks. The National Association of Realtors and the National Association of Wholesale Distributors, Inc. are two such national organizations. For more click this link. There are many additional factors to consider when choosing a realtor. For example, a lawyer or a real estate professional with whom a client has worked successfully will be more trustworthy than an individual who has not. In addition, it is the responsibility of each client to ensure that the real estate professional that she or he chooses is honest and upstanding. See more here: https://youtu.be/Gs4WumijVCA.
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