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A broker is a person who arranges the purchase or sale of property for a buyer or seller in return for a commission. Brokers may help arrange financing of the purchase through contacts with banks, savings and loans, and mortgage bankers. Brokers must be licensed by the state to buy or sell real estate. A real estate broker is a term which describes a party who acts as an intermediary between sellers and buyers of real estate and attempts to find sellers who wish to sell and buyers who wish to buy. In any states, the relationship was originally established by reference to the English common law of agency with the broker having a fiduciary relationship with his clients. A broker can provide many types of services: Since each state's laws may differ from others, it is generally advised that prospective sellers or buyers consult a licensed real estate professional. Some Examples: 1.Comparative market analysis (CMA) – It is an estimate of the home's value compared with others. This differs from an appraisal in that property currently for sale may be taken into consideration. 2.Exposure - To prospect buyers, market the real property. 3.Facilitating a Purchase - Through the process guide a buyer. 4.Facilitating a Sale - through the selling process guide a seller. 5.FSBO document preparation - For "Sale by Owner" sellers prepare necessary paperwork. 6.Full Residential Appraisal - In most states, if the broker is also licensed as an appraiser. 7.Home Selling Kits - guides to how to market and sell a property. 8.Hourly Consulting for a fee, based on the client's needs. 9.Leasing for a fee or percentage of the gross lease value. 10.Property Management. 11.Exchanging property. 12.Auctioning property. 13.Preparing contracts and leases. These services are also changing as a variety of real estate trends re-engineer the industry.
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