Real Estate Agents

Real estate agents, realtors, buyer or seller agents or buyer's agent mean basically the same thing. A mediator acts as an agent to aid a client or clients in the purchasing of property or real estate. In most states a real estate agent must be licensed and adhere to the state they operate in laws and legal requirements or faced stiff penalties, lose their license or even face jail time. The main difference between a real estate agent or real estate broker and a broker is that the broker works strictly for the real estate developers or investors by actively seeking out potential buyers or sellers and the real estate agent works more towards the purchase of land known as immovable property for the main purpose of personal use such as a home.

Also the legal requirements for a broker and real estate agent are slightly different. There are more hours of course study involved with being a real estate agent as with a broker in some states, one doesn't have to have a license. The realtor or real estate agent is required to be a member of the National Association of Realtors (NAR) and must under the Federal law comply with the RESPA Act which was passed in 1975, and states that a realtor and real estate firm must give full disclosure to the potential owner of said property or properties the necessary brochures or pamphlets disclosing everything good and bad pertaining to the property. For example if there have been problems with mold in the basement or a cracked foundation, that must be told to the potential new owner of said property or properties. A good real estate agent usually has relationships with mortgage companies and can aid in getting the client the best possible deal. Check with the local realtor's association for an agent.