Some Key Roles in the Real Estate Industry:
(Choosing your dream Team that works for you)
When it comes to your personal Real estate journey, it is usually the most important decision you make in your whole life. Although we at Unna Real Estate Group buy and sell real estate every day, we understand that this process is very important to you and can sometimes be confusing to get started.
At Unna, we believe that choosing the right team of professionals is key to making sure that everything is a success. We have compiled a list of other Real Estate professionals who are usually involved in a real estate transaction. It is important that every single person in your team communicates with one another so you have a seamless experience.
The Listing Agent:
Works with individuals selling real estate, listing properties under their name and brokerage for potential buyers to discover.
Responsibilities include determining selling prices, listing and marketing properties, managing showings, answering buyer inquiries, negotiating sale prices, and overseeing the sales process.
The Buyer Agent:
Assists individuals looking to purchase real estate by finding suitable properties, arranging showings, negotiating on their behalf, and guiding them through the purchasing and closing procedures.
Typically, buyer clients do not incur costs for working with a buyer’s agent.
The Broker:
Positioned above agents, brokers usually possess more education and licensing.
Brokers can establish their own real estate brokerage and recruit agents as salespeople.
The Mortgage Lender:
Provides funds for mortgage loans, essential for real estate purchases.
Prospective buyers are advised to obtain pre-approval for a loan before engaging in property viewings and bidding.
The Appraiser:
Independently assesses property value, crucial for mortgage lenders to ascertain accurate property valuations.
The appraiser's role is vital to ensure the property’s value aligns with the contracted sales price for loan approval.
The Inspector:
Hired by potential buyers to assess property structure, safety, and potential defects or damages.
Inspectors play a critical role in informing buyers of any issues that may affect the property's condition.
The Closing Attorney (The Lawyer):
A real estate attorney specializing in real estate law, providing legal guidance during property transactions, particularly at the closing stage.
These attorneys assist buyers and sellers in understanding and navigating the legal documentation involved in real estate transactions.
