This article is about the North American practice. This how to become a successful real estate agent pdf has multiple issues.
Statements consisting only of original research should be removed. This commission can be divided up with other participating real estate brokers or agents when applicable. There are significant differences between the actions, powers, obligations, and liabilities of brokers and estate agents in each country. Other countries take markedly different approaches to the marketing and selling of real property. In the United States, however, real estate brokers and their salespersons who assist owners in marketing, selling, or leasing properties are commonly called “listing brokers” and “listing agents. Listing brokers and agents seek to market and sell or lease property for the highest available price under the best available terms.
Other brokers and agents may focus on representing buyers or tenants. However, licensing as a broker or salesperson authorizes the licensee to represent parties on either side of a transaction. The choice of which side to represent is a business decision for the licensee. These rules differ substantially from state to state, for example, on subjects that include required documentation, agency relationships, inspections, disclosures, continuing education, and other subjects.
The real estate broker owes fiduciary duties to whomever that broker services as a client. It is important to have a clear agreement between the broker and the client, for the protection of both of them. If the parties only have an oral agreement, it is more likely for a dispute to arise concerning the services the broker or agent is supposed to provide, whether the broker can enforce the parties’ compensation agreement, the duration of the relationship, whether the relationship is “exclusive,” and other issues. If the broker is helping both the buyer and the seller, this is referred to as a “dual agency”.