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What Is A Real Estate Agency ?
A real estate agency is an agency that is licensed to sell and promote real estate under laws of the state in which the agency resides in. Agents who work in this agency are always licensed to sell and rent real estate and have been tested by rigorous tests to examine their proficiency in this area. They work constantly in order to provide their customers with the best real estate at a price the customer can afford. Day in and day out, they show properties to potential clients in order to show them what is on the market currently that will meet their needs.
Real estate agencies can be part of a big conglomerate, but the offices are all owned and operated independently of each other. The broker in charge is the boss of the office and reviews all the business and contracts that are written by the agents that he or she is in charge of. They also take care of all agency business and everything must meet the approval of the broker in charge. The agents are all under the broker in charge. They write up sales and rentals for all real estate business and submit it to the broker for approval.
Each agent has a list of real estate rentals and property that is currently on the market. They use these lists to find properties that will suit each agent’s client’s needs. They also show these properties to many different clients that fall into the price range of the client in question. They also go through the approval process for loans and other types of contracts with their prospective clients to assure everything is in order. Thus completed, the actions are submitted to the broker in charge for the final approval needed.
There are many types of properties that an agent would have for sale. These include, but are not limited to the following: Business properties, residential properties, resort properties, farmland, land, and developmental properties. This is by no means an all inclusive list. Each agent has a list of territory that they are assigned to by the broker in charge. These properties list change many times daily, depending upon sales in the agent’s territory at any given time. All agents are notified of any changes to the list that they have as soon as it becomes available to the brokers knowledge.
These agents also list cross lists that are shared with other real estate agents. This means that more than one agency can show a particular piece of real estate to a potential client. This also means that particular piece of real estate will be covered and may be sold quicker than one who is listed on just one listing. This maximizes the exposure of the real estate in question. More clients that see it, the quicker that it will be sold. All real estate agents earn by commission and referral fees that are paid to them by the broker in charge.
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Billy Chen
CEA Registration Number : R029372I
Tel: (+65) 88689999
Fax: (+65) 64021826
billy@billychen71.com
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