A realtor, also known as a realtor, real estate broker or agent is someone who promotes buyers or sellers of real property or real estate. While a Realtor can work alone, most often an agent will work under an accredited broker to represent multiple clients in their sales process. It is not uncommon for Realtors to work in the same building as the seller, negotiate the purchase price, and close on the sale all from the same location. In addition, a Realtor may not require an up-front fee, but instead will receive a percentage of the final sale price. A Realtor can also assist the buyer and/or seller in the preparation of required documents, preparing the offer and attending the closing. Many Realtors have a background in real estate and understand the legal process and procedures associated with selling or buying a realty property. Have a look at Realtor – Jake Maines, Virginia Beach to get more info on this.
There are some specific requirements that must be met by anyone choosing to become a realtor. In order to qualify for the position, a realtor must complete the required education programs and pass the National Association of Realtors (NAR) Realtor Exam. In order to become licensed to sell or buy real estate, a realtor must pass the necessary examinations and obtain a minimum of seventy credit hours from an accredited university or college. A realtor must also be licensed by the Department of Financial Services to perform real estate brokerage in the State of Arizona.
Each state has different regulations pertaining to the realtor business. For example, in some states an agent may not carry any compensation other than the actual commission earned. This means if the realtor receives a lump sum commission, this will need to be paid by the client. The National Association of Realtors (NAR) offers training to agents on a variety of topics including estate planning, ethics and market access. To become a realtor and complete the necessary licensing requirements one needs to obtain a realtor certificate from the National Association of Realtors.