Real estate brokerage services are divided into those for buyers or sellers, with brokers providing resources and advice on price negotiations. They also offer rental management services, access to information such as comps and the MLS, property viewing, marketing services, home staging, and objective advising.
The different types of real estate brokerage services are mainly divided into those for buyers or sellers. Brokers provide resources for property buyers and sellers, as well as advice on price negotiations. Many real estate brokers also provide rental management services for property owners who want to rent a suite, home or commercial space to tenants. Some brokers specialize in commercial or residential real estate services.
For buyers purchasing a commercial or residential property as an investment to derive a monthly income by renting out space, a real estate broker can offer a full landlord service. These real estate brokerage services typically include tenant search and screening as well as rent collection. The customer usually pays a monthly fee for services, as well as any necessary repairs or other property expenses.
Real estate brokers have access to information that lay people typically don’t have. Popular real estate broker services include comparing buyers or sellers or “comps” of similar properties within the same area. Comps can help buyers figure out if the seller has a reasonable list price on the property they are considering buying. They also serve as a guide for the seller to help decide a fair list price for the property he is offering for sale.
Brokers also have access to the Multiple Listing Service (MLS), which is a list of properties for sale complete with prices, building, land, and property tax information. One of the main types of real estate brokerage services is property viewing, either those that the buyer can view or the seller’s properties to interested buyers. Brokers representing the seller often include marketing services such as planning and administering an open house to bring groups of buyers to a home to view. Most open houses are held on weekends in the late morning or afternoon.
A broker opening is a similar event, but is organized by a real estate broker representing a seller for other brokers to participate. This type of customer service is often done to expand the network of potential buyers. Brokers attending may find that the property appears to meet the purchase criteria of one or more of their clients. Other real estate brokerage services that may be available to clients are home staging techniques for preparing a home or condo to be more suitable for many buyers, such as decluttering and light decorating. A real estate agent usually subcontracts a professional home stager for the job, and the client is charged for the service.
Advising clients is a regular service provided by real estate professionals. They must be objective and provide clients with all known information about a property. In the case of real estate brokerage services, including representing both the seller and the buyer, 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.
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