1. What is the difference between a real estate agent and a real estate broker?

In many countries the real estate industry imposes a series of tests and standards on the real estate agents. They use this to oversee thel education and experience requirements and maintain the right and authority to resolve complaints given by consumers.

Because of these strict standards the real estate industry has created two different kinds of real estate professionals: agents and brokers. Brokers are generally required to have more education and experience than real estate salespersons or agents.

Most consumers will work with a real estate agent, but real estate agents work for a broker. But the broker can have the option of dealing with the buyers and sellers, but they normally have a staff doing this for them. They are more managerial; they supervise. So the listings are under the name of the broker, not the agents.

2. What are the benefits of hiring a real estate agent?

Real estate agents are not just glamorized salesmen. They are also property consultants who can provide valuable tips and guidance on the real estate process, which is crucial considering the large amount of money involved.

While it’s true that you can get a lot of information from the web, this data isn’t accurate or up to date. Plus you wouldn’t know how to analyze this information, or pick up which ones are important. A real estate agent ploughs through all of this data for you and gives you only what is relevant.

3. How much do real estate agents charge?

They don’t ask for a fixed fee but they do get a commission from the sale. So they don’t get paid unless you actually find a home, which works in your favor. They will work as hard as they can to make sure you are happy.

4. If I’m buying property abroad should I hire a local real estate agent or someone from that country?

It’s best to work with someone who knows the neighborhood and can give you insider information on the real estate prices, future construction plans for the area, etc. Plus you need someone who can speak English and thus facilitate your negotiations with the seller.

Weighing these needs then it’s best to work through a real estate agent who is based in that country but has affiliations with local real estate agents. Or go to someone who specializes in international purchases.