Real Estate, Realty, Agents, and Realtors Information

Buying or selling a property for the right price is a matter of head more than the heart: it requires knowledge of the real estate market. The most common practice is to hire a realtor or real estate agent to find someone willing to buy or purchase the property on the owner’s terms and conditions. In effect, a realtor acts as intermediary between buyer and seller. They match seller to the right buyer and vice versa. In the US and in most countries where civil law protects real property ownership, a person is required to have a license in order to receive monetary compensation for their services. However, if the buyer or the seller is the one acting as the principal in the sales or purchase of property, no such license is required.  

Several decades ago, realtors were more popularly known as real estate salesperson due to the fact that they represented sellers only. Then in 1967, the role of realtors diversified and went beyond merely just selling. Today, realtors perform various tasks such as providing buyers or sellers the estimated value of their property; helping owners decide whether to put up their realty for sale, auction, or tender; negotiate property sales on client’s behalf; and also prepare sales contract. 


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