! And in our role in Istiklal Homes, we have previously highlighted several important real estate terms, and today we will unveil in this article the definition of a real estate broker, the most important conditions that must be met in it, and many other information! Learn with us the tasks of the real estate broker and the most important details related to it.
What is a real estate broker?
What does a real estate broker mean? What is a real estate broker? It is one of the most frequently asked questions on social networking sites and search engines! But before defining the term real estate broker, we must first talk about defining real estate brokerage or the real estate brokerage system as a profession practiced by the broker, and it is a profession that targets clients looking for real estate exclusively, as it forms a link between the owner and the buyer!
Now we come to define the term real estate broker, which is an independent person or an office licensed by the government, that works to facilitate dealings between all parties to the buying and selling process of real estate, whether people, real estate owners or real estate development companies, and seeks to negotiate sales agreements and manage documents to close the required transactions, and that In return for a certain percentage agreed upon, it is taken from the party who appointed him from both parties to the contract, and it is called the real estate broker’s commission.
Matters that must be available in the real estate broker
There is a set of characteristics or things that the real estate broker must have! Here are the most important conditions for a successful real estate broker:
To be legally licensed and approved as a real estate broker by the concerned authorities
To have extensive knowledge and experience in the real estate market and its developments
To have credibility in dealing
To be highly professional
To be keen to follow up the process after its completion
To be able to analyze the market effectively
To be fully aware of the ratio of supply and demand
To be able to determine the appropriate time to buy or sell
Many people think that the way a real estate broker works is easy and does not require a lot of skills or experience, but this job may be one of the most demanding jobs for skills, which necessitated many responsible authorities in the Emirates, for example, not to grant anyone a license to work in This profession is only when all conditions are met, in order to guarantee all the rights of the real estate broker and the dealers in particular.
Types of real estate brokers
The real estate broker is considered the first reference for clients who wish to enter the real estate market, whether for the purpose of owning, investing or renting. Here are the types of real estate brokers according to the mechanism or method of work of the real estate broker:
Broker with the seller: This broker works with landlords and real estate development companies to assist in the process of marketing the property for sale or rent
Mediator with the buyer: This mediator provides solutions, advice, and available options that help in searching for a property with certain specifications, in addition to assistance in buying or renting real estate.
Dual broker: This broker is contracted by both parties to the contract and in the same transaction, where the broker has an agent for each party
Duties of a real estate broker
The real estate broker completes the sales and rental operations as a link between clients (the owner of the property and the buyer or the tenant)! Here are some of the most important tasks of a real estate broker that you may not know:
Helping the landlord sell their property at the best possible price, while helping the buyer get the lowest price available
Assistance in the process of renting commercial and residential real estate, and it also offers a range of options that suit the aspirations and needs of the tenant
Documenting contracts and completing legal tasks
Property management, including following up on financial matters such as paying rents, electricity and water bills, and others
Assisting in the real estate marketing process, either through marketing platforms or social networking sites, and others
