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In the real estate industry, there are several different types of people that can buy and sell the property. There are different restrictions around different types of property, different licenses, and certain permissions are given to certain people.
When a person is trying to figure out how to buy a new home or sell their old house, they typically have many questions. Some of the questions many people have when embarking on a journey in the real estate industry are what is a land broker, what is a real estate agent, and how can I find the best person to fit the needs I have?
It can easily become very overwhelming when a person is faced with a variety of options in real estate, none of which they understand. To break through the jargon and confusing language associated with the real estate industry, it is important to understand the differences between different workers in the industry.
The difference between a land broker and a real estate agent is very simple. The main difference between real estate agents and land brokers lies in their licensing. Find out more about the differences between real estate agents and land brokers please read on!
What Is The Difference Between A Land Broker & A Real Estate Agent?
As stated earlier, the majority of the differences between land brokers and real estate agents are in their licensing. Different types of workers in the real estate industry have different licenses that allow them to do different things in the market. Additionally, all real estate agents must be licensed to sell and buy property in the state in which they are working.
In the simplest terms, a real estate agent is a person who has a license to sell and buy property in the state they are working in. A land broker, on the other hand, is a person who is licensed to own a real estate agency or firm.
Additionally, real estate agents cannot work on their own. They are not allowed to be solo or free agents wandering around buying and selling property. Real estate agents must work under a licensed broker.
In essence, a land broker is a position that is a step up from a real estate agent. They have the licensing to buy and sell land freely. Land brokers have also completed more training and have passed more licensing requirements than real estate agents.
Whereas real estate agents must work underneath a broker, a real estate firm or an agency land brokers do not need to. Land brokers can start their brokerage firm or work independently in the market. Land Brokers can buy and sell land without belonging to a brokerage firm or even own a new one. This makes them able to buy and sell independently.
In that sense, land brokers have a bit more freedom and capability to do more independently than real estate agents. Real estate agents are restricted by needing to work for a brokerage firm.
In more complicated terms, real estate agents are licensed to help and guide people to buy, rent, or sell real estate. They must belong to a brokerage as stated earlier. Real estate agents are the bridge between people who are buying new homes and people who are selling homes.
Because real estate agents act as the bridge between buyers and sellers, they often have a wide network that includes other real estate agents from other brokerage firms, as well as other real estate agents working in the same brokerage firm. Real estate agents are paid a commission, which is typically a percentage of the selling price of the property they were responsible for selling.
Licensing for real estate agents goes on a state basis, as there is no federal licensing for real estate agents. The criteria one more table to apply for a real estate license are as follows:
- Must be at least 18 years of age
- Be a legal resident or citizen of the United States of America
- Pass and complete a background check
- Have sponsorship from a licensed real estate broker
- Complete the required pre-licensing class for their state
- Pass the real estate licensing exam for their state
- Complete and pass continued education classes necessary to maintain their license
Real estate brokers, also called land brokers, are real estate agents who have continued their real estate education beyond the necessary real estate agent education. Real estate brokers have taken and passed the real estate brokers licensing test for their state.
Real estate brokers often do many similar things that real estate agents do, however, real estate brokers are often taking it a step further. Real estate brokers who work with people looking to buy a new home often do much more investigation into finding properties that match the wants and needs of their clients.
Real estate brokers can also conduct negotiations between buyers and sellers, prepare and present offers, and help their clients with any and all real estate issues leading up until the day the property is bought or sold.
When selling a property, real estate brokers will often work to determine the market value of the property, as well as set up listings and showings for the property. Additionally, real estate brokers will work with sellers about the offers coming in and offer assistance when needed.
Real estate brokers also get paid a commission on the selling price of the property.
What To Look For When Hiring A Land Broker
When hiring a land broker, you want to make sure that day has passed all of the requirements to be a land broker. Look for people who have completed up-to-date classes and education on real estate in their state.
When hiring real estate brokers you should also look at their experience. One of the selling points of land Brokers is that they have more experience than real estate. However, it is not necessary to have more experience than a real estate agent to be a land broker. Some real estate agents may even have more experience than a land broker.
Look for a broker who has either work independently or owns a successful brokerage firm. They should have a history of keeping the clients happy and satisfied. You should also look for references from people they have worked with.
A great way to find a great land broker is to ask your friends or family who recently used a land broker to buy or sell a house. This way, you know that you are getting somebody who is reliable and has worked closely with someone you trust. It is also a great way to know more about that real estate broker before you meet them.
You should, of course, ask plenty of questions when you meet the real estate broker for an interview. Ask questions about their licensing and their experience, especially when they were licensed and how long they have been working.
Another question to ask is how many clients they are representing currently. This will give you a frame of reference for how much time they can give you. Always ask to see their references and get in touch with them. Lastly, the fees and drawbacks are two huge topics you should discuss before agreeing to work together.
Do not be afraid to ask questions! It is the best way to find a real estate broker that will be the best fit for you!
How To Find The Best Real Estate Agent/Land Broker Near You
A great way to find a good land broker in your area is to talk to people who have recently bought a house. Friends and family who have worked with a land broker in the past and recommend them are one of the most reliable ways to find your land broker.
Use your social networks to connect with a land broker that is reliable, trustworthy, and a hard worker.
Looking at local advertising is another great way to find someone in your area with expertise in the market you are looking for. Local land brokers know the area that they are buying and selling inside and out, so it makes it a lot easier for them to find properties that their clients want to buy, and they know how to market your house to people who want to buy it.
Some real estate brokers may not be able to take you on as a client due to a large client workload or other issues, but ask them to refer you to others who are ready and willing to take on a new client at this time.
Lastly, you can use social media or the internet to do a wider search of land brokers in your state. This will give you a more generalized idea of where to begin and what brokerages or brokers are available to you in your state.
That is how you can find fantastic brokerage firms! Get in touch today with a top, premier real estate agency to begin your real estate journey right away!
