What does a real estate broker do? Roles and responsibilities.

What does a real estate broker do? Roles and responsibilities. A real estate broker is a professional who acts as an intermediary between buyers and sellers in the real estate market. They perform various functions during the property sale process. From listing a property to the final transaction, brokers work tirelessly to secure the best offer for both parties. Their goal is to sell a property quickly, at the best price, and with minimal hassle. What does a real estate broker do? Roles, responsibilities include: pricing and listing the property, designing an effective marketing plan, prequalifying potential buyers, facilitating financing options, and handling contract signing and conclusion.

Main Functions of a Real Estate Broker:

Listing and Pricing the Property

Successful real estate sales happen when properties are listed at a realistic and appropriate price. A professional broker can help evaluate the property's value through market research and analysis of recent comparable sales.

Designing a Strategic Marketing Plan

Real estate brokers create effective marketing plans tailored to each unique property, highlighting its distinguishing features and attributes.

Preparing the Contract

Certified real estate brokers can draft purchase and sale contracts for both buyers and sellers.

Closing the Transaction

A real estate broker ensures that all parties involved, such as sellers, buyers, banks, appraisers, insurers, residents' associations, property managers, and lawyers, among others, are coordinated to complete the sale or purchase. Difference Between a Real Estate Agent and a Real Estate Broker: Real estate agents and real estate brokers work in the same industry but have distinct roles and activities.

What is the difference between a real estate agent and a real estate broker? 

Although they may work in the same real estate company, their roles vary, and there are differences between the activities performed by real estate agents and real estate brokers. Here are the main differences between a real estate agent and a real estate broker:

The main differences include

Another difference between a real estate broker and a real estate agent lies in their interaction with the client. The real estate agent is the first person the client contacts. They provide clients with reports, propose offers based on their needs, and handle concluding the transaction. On the other hand, the real estate broker is in contact with clients looking to sell a property. The broker only accepts acquiring properties that represent a favorable investment, considering the added value of the area, the condition of the property, and its legal situation.

Services Offered

Real estate brokers typically have more experience and knowledge, detecting business opportunities. They may be associated with multiple real estate agencies, offering their services and expertise. Agents concentrate on customer interactions, presenting rental or property sale proposals and providing advice on desired living areas.

Areas of Expertise

Real estate brokers may possess or collaborate with multiple real estate agencies, using their knowledge to conduct various real estate operations. On the other hand, agents guide potential clients and apply their expertise to focus on sales and development areas, such as real estate marketing, public relations, and social media.

The routine work of a real estate broker

Many industry professionals believe that real estate brokers do not have a well-established work routine. They do not have fixed working hours, and their activity usually takes place outside the real estate brokerage company. The work routine of these professionals involves effectively managing their portfolio of clients and properties, as they interact with clients with different profiles and diverse real estate needs on a daily basis. Their meetings can take place at the property of interest, in a sales kiosk, in an office, at the client's location, or even in a public place like a café or restaurant.

Economic Conditions

When choosing the price of a property, real estate brokers or professionals must respect and adapt to their clients' needs and interests. If your goal as a homeowner is to sell the property as quickly as possible, a good option is to set the price slightly below the market value. On the other hand, if you want to achieve higher profits and are not in a hurry to sell, you can start with a higher asking price and wait for good offers. Overall, it's best to evaluate and analyze your broker's proposal for selling your property and then choose according to your needs. Avoiding 5 pitfalls when selling your property.

Fees and Commissions

Traditional real estate brokers generally charge a commission of 3 to 10% based on the sales conditions. Various brokers offer different terms regarding fees and commissions, so make sure to analyze this information to choose the offer that best suits your needs.

Availability

Owners usually cannot show their properties during office hours as they are at work, so it's essential to discuss your real estate agent's availability. Get a free evaluation of your home.

Advantages of working with a real estate broker

What does a real estate broker do? Roles and responsibilities. They know the market inside out. Someone in the industry will always have privileged knowledge. A real estate broker has their own list of potential clients and is aware of market price fluctuations. They will thoroughly assess your property, make it presentable, and present it to future interested parties as if it were their own.

They can distinguish the good from the bad

Remember, you won't have to answer phone calls at all hours. A real estate broker will be at your service, acting as a filter and shielding you from unreliable potential buyers or scammers. Professional brokers will answer calls to assess whether a client meets essential requirements to acquire or rent your home.

They collaborate with other professionals

Brokers work alongside various industry professionals. If you want your property to have maximum visibility, a real estate professional can undoubtedly help. An expert usually has connections that will attract the most potential buyers to your property.

They sell in record time

If you don't want the "for sale" or "for rent" sign to linger on your property until it fades, we recommend using a real estate broker. Another benefit you'll appreciate is how quickly brokers close the deal. Did you know that the Tardif Team has an average selling time of 29 days? The best tips for selling your house quickly.

They handle all the paperwork

When people hear the word "paperwork," most panic. Nobody wants to deal with this part of the work, except, of course, the real estate broker! Real estate brokers take care of drafting the sales or rental contract and handling all the procedures related to the notary office or property registration.