In this article, I will share the ten types of real estate agents you will meet in your home buying, selling, or renting process. They are licensed professional agents who serve a specific purpose in a specific niche. You must know which one to select for your particular needs and why.
But please, do not be like all those clients who hire the first real estate agent they talk to. Interview at least three agents to find whether he is compatible with your taste and needs. Know if he is trust-able and has a good track record for the work you want to hire.
Ten Types of Real Estate Agents
When dealing with an agent asks these questions to know if he is qualified or not for your work.
- How did they determine a house’s listing price?
- How well does the agent know the neighborhood?
- Do they have experience with your property type?
- How many clients can they handle at a time?
- What is their most successful marketing strategy?
- How big is their agent network?
- What is their primary communication method?
- What is their advice to solve my problems?
Obviously, the questions are endless, but asking these will help you identify the best real estate agent for your need whether you want to sell a house, buy it, or look for a tenant for your property. Each and every purpose needs a different professional agent. So here are those different types of real estate agents.
Table of Contents
1. Real Estate Agents
A real estate agent is a licensed professional by the state government who helps people buy, sell, or rent a property. Agents work in a brokerage firm, and their job is to help their clients in the different stages of the buying and selling process.
Some agents specialize in commercial real estate, and others focus on residential transactions. Whatever their roles are, if they are dealing with buying and selling with a license, they are real estate agents.
2. Real Estate Brokers
A real estate broker is not too different from an agent. A broker is the manager of a big real estate company where small agents work. Brokers are the CEOs of a company and hold a higher standard than agents, and are more experienced. They handle the most complex transaction and paperwork that newbie agents can not manage. They run the organization, and agents do all the buying and selling.
Most people mix up a realtor and an agent. A realtor is a licensed agent but approved by the NAR (National Association of Realtors) and a full-time member. They follow NAR’s code of ethics and standards of practice and pay annual dues to remain on the team. More than half of the licensed agents are realtors and have access to market data that is not accessible to an average agent. The benefits of NAR members are listed below.
- Market research and technology report data.
- Access to information through webinars.
- Library and research services that you may need.
- Discounts on some special certification courses.
- Conference attendance, car rentals, health insurance, and other services.
Realtors can have way more market data than the agent can think of. But, it is not easy to become a realtor. You have to qualify for it. So for me, a realtor is one of the best types of real estate agents you can hire.
4. Listing Agents
A listing agent or seller’s agent is a licensed agent who helps people sell their properties. Although they have many responsibilities like researching the market, comparing prices to determine the asking price for the property, advertising it, and handling home tours. They are an expert in selling properties quicker than a normal agent.
5. Buyer’s Agents
Like the seller’s agent, a buyer agent specializes in buying properties. They help potential buyers find homes, compare prices, negotiate the asking price as a middleman, help in home inspections, and give suggestions on how to find financing. Basically, they will do everything a buyer needs while buying a house or a property.
6. Dual Agents
Now a dual agent does both the work as the seller’s agent and a buyer’s agent simultaneously. In some states, they are illegal but have many benefits if your state allows them. Dual agents help with the communication between the buyer and seller, they have all the information from both sides, so they serve both sides better, and they are cheaper than hiring a specialized agent as they change both parties. Check if your state allows it or not.
7. Leasing Agents
A leasing agent or rental agent helps homeowners find tenants for their properties, whether it’s a commercial office building, stores, restaurants, and other types of properties. They are the middleman between tenants and rental properties and help homeowners have a steady flow of tenants all the time. If you are looking for a rental agent, then it’s one of the best types of real estate agents you can hire.
8. Military Relocation Professional
An MRP (Military Relocation Professional) has taken NAR training to serve active and former military members. Most of them choose to live in private housing, and only an MRP can help them as they are not like a normal person but military personnel with different rules.
An MRP is familiar with the processes of military relocation and willing to work with tight deadlines. They have a network of military tax experts and have access to tools for marketing military-owned homes. If you are in the army, an MRP can help you.
9. Senior Real Estate Specialist
An SRES (Senior Real Estate Specialist) is a realtor who serves clients aged 50 and over as they have different needs than young people. Many seniors have lived in that house for more than 20 years and leaving it is very emotional. SRES-certified agents follow the Housing for Older Persons Act and help through these tough decisions. Search for them if you are a senior citizen.
10. All-in-One Agent
Now in some rural areas, one agent can do all the work as those people services are not available there. So people hire any agent to buy, sell or rent homes. We call them one in one agent who can help in with anything. They are not specialized in anything but know everything. You may have heard of these agents.
So these are the types of real estate agents you may meet in your home buying, selling, or renting process. They are professionals and serve specific purposes. Get some data, do the background analyses, and then select the agent who can help you the most. A real estate agent is common everywhere, but you can work with a specialized one. Thanks for reading to the end. See you soon. Good luck.