Finding the perfect home involves dealing with real estate professionals and using the appropriate language. A new buyer, especially, must learn some real estate terms before viewing a property.
Included here are few basic words you will frequently use when on the path to purchase a property. Knowing them will ultimately assist you in your negotiations.
Agent & Broker
You’ve heard of these terms before. That’s because agents and brokers are the professionals you mainly coordinate with in real estate transactions. You need representation before making a deal, and that’s what these two are for.
Agents are either salespersons, licensed and working for brokers, or permit-holders employed by developers. Brokers, on the other hand, are licensed professionals that are independent and are generally more knowledgeable about real estate matters than the former. Comparing the knowledge of the two, agents know a great deal about the property they’re selling while brokers are skilled at knowing the ins and outs of the property market overall. Choosing between the two professionals is up to you, and it depends on the support you need. When purchasing investment properties, make sure you have a great real estate agent or a wholesaler specialized in investment properties. This is what we do for a living. Make sure you contact us if you are looking to buy investment properties in South Florida.