Texas New Homes & Home Builder Blog

What are the Different Types of Real Estate Agents?

Are you planning to buy or to sell a home sometime in the near future? Whether your transaction involves Austin Texas real estate or a new home in Riverside, you will certainly want to learn more about the various types of real estate agents that are available to select from. By having a better understanding of the various titles, you will be better capable of choosing the real estate professional that best suits your needs.

When conducting a real estate transaction, it is important to know the types of real estate agents involved.

Real Estate Broker

Real estate brokers are licensed to sell homes and are capable of working independently. Many brokers hire real estate agents to work for them. In this case, the broker is responsible for the actions of the agents they employ.

Real Estate Agent

A real estate agent is a person who is licensed to sell home. A real estate agent is different from a broker in that an agent cannot work independently. Rather, the agent must be employed by a broker.

REALTOR

A REALTOR is a real estate agent or broker who belongs to the National Association of REALTORS, or NAR. Members of the NAR subscribe to a strict Code of Ethics and belong to certain state and local trade associations. If you have any complaints regarding a REALTOR, you can file a complaint with the local NAR board.

Listing Agent

Also referred to as seller’s agents, listing agents represent the seller in the home-buying transaction. Like a REALTOR, a listing agent may be real estate agent or a broker. As the seller’s representative, the listing agent must protect the interest of the seller.

Buyer’s Agent

Also called the selling agent, the buyer’s agent is responsible for protecting the interest of the buyer. Exclusive buyer’s agents work only with the buyer. While some buyer’s agents do work with both buyers and sellers, they generally do not do so within the same transaction.

Dual Agent

As the name suggests, a dual agent is a real estate agent who works with both the buyer and the seller. It is possible for a dual agency to occur even when dealing with two different agents. This occurs when both agents work for the same broker. It is important to note, however, that dual agency is not legal in every state.

Transaction Agent

In those states where dual agency is not legal, a real estate may serve as a transaction agent. Transaction agents are primarily responsible for writing an offer for the buyer. In this case, the agent does not represent either party. Rather, the agent is simply there to facilitate the transaction.