What do real estate agents do?
How these professionals help you buy and sell a home
Real estate agents make buying and selling a home easier. Agents are licensed professionals who must pass state-specific exams to ensure that they are qualified to represent home buyers and sellers.
Freedom Mortgage can help you connect with experienced, local real estate agents and save money when you buy or sell a house through Freedom Home partners. Learn more about Freedom Homes.
What do real estate agents do for homebuyers?
Real estate agents can help you find homes that meet your needs and fit your budget. Good agents are experts in their local markets. They understand the kinds and prices of homes for sale and are knowledgeable about neighborhoods, school districts, commuting, and public transportation, as well as other important community features.
A buyer’s agent can help you develop a list of potential homes to buy and schedule viewings of these houses for you. Your agent can help you make an offer to the seller, negotiate the sales agreement, coordinate home appraisals and inspections, and manage paperwork. Real estate agents can also help make sure your mortgage application and approval go smoothly. Agents often attend closing with their clients, as well.
What do real estate agents do for home sellers?
Real estate agents make selling a home easier. They will help you choose the right sale price for your home. They make sure buyers can find your home by listing it in real estate databases called Multiple Listing Services (or MLS), on homebuying websites, and on social media, as well as through their connections to other agents.
Real estate agents can help you stage your home so it shows better to potential buyers. They will organize open houses and showings on your behalf. Your agent helps you review offers from buyers and negotiate the sale agreement with them.
Seller’s agents often review the results of the home appraisal, especially when the appraisal price is lower than the sale price of the home. This is important because buyers will often try to negotiate a lower sale price when the appraisal comes in low. Seller’s agents have access to real estate comps and other kinds of sales information that might help you argue successfully against a low appraisal.
Your agent will help you make real estate disclosures and ensure you follow any laws or regulations affecting the sale. They often attend the closing, as well.
What do real estate agents do at closing?
At closing, your real estate agent might help ensure all necessary documents have been properly signed and notarized, escrow and sale funds have been correctly transferred, title insurance fees have been paid, the deed has been correctly updated, and more. This is work that can also be done by title companies and real estate attorneys. Some states require that a title company or attorney manage your closing.
What do real estate agents charge?
Typically, real estate commissions run between 5% and 6% of the home’s sale price and are paid by the seller. The buyer’s and seller’s agents share the commission evenly. Real estate agents typically don’t get paid unless the house sells. Learn more about how real estate agent commissions work.
We can help you find a real estate agent
Freedom Homes can help you connect with experienced, local real estate agents. We can also help you save money when you buy or sell a home through Freedom Home partners.
Last reviewed and updated July 2023 by Freedom Mortgage Corporation.