A Realtor is a licensed real estate broker who sells or rents the property to the customer. It is generally a company registered with the secretary of state that sells and buys residential property and other commercial property for resale. The term’realtor’ is derived from’re canal’ where a real estate agent washes or couches his hands in a canal to clean them from dirt. Oliverio Realty – Morgantown Real Estate Agency is one of the authority sites on this topic.
Real estate agents assist people in buying and selling real estate. They find the ideal location for purchasing or renting. They arrange financing, handle all real estate related paperwork, provide inspections, and make arrangements for maintenance. A realtor is an independent sales representative of a brokerage firm. There are real estate agents that are employed by brokerage firms, but others are self-employed, which makes the job much more competitive. Realtors must secure financing, pay for property inspections, arrange for a fair market sale price, and work with homeowners.
All realtors are required to maintain fiduciary responsibility, which means they must exercise honest and reasonable skill, judgment and knowledge when handling the customers financial affairs. Realtors must disclose all relevant information about the properties they are advertising and what they will do for a buyer’s price. The realtor must have knowledge of applicable laws. As a realtor you must act in a fiduciary capacity and be alert to any potential conflicts of interest. You must follow all applicable laws, ethics rules and regulations. A licensed Realtor is required to complete continuing education courses each year to ensure that he or she is informed about and able to comply with real estate laws and ethics requirements.