What are the duties of a real estate broker?

A real estate broker is an individual who works as an intermediary between a buyer and seller of real estate. In Washington, a real estate broker is required to be licensed by the state, and must have a thorough understanding of real estate law. The duties of a real estate broker include determining a fair market value for a property, handling all paperwork associated with a real estate transaction, and negotiating the best terms between a buyer and seller. They must also be knowledgeable about market trends in order to accurately advise clients on when to buy or sell a property. The broker must adhere to all applicable local and state laws and must be knowledgeable of any zoning regulations that may affect the sale. Additionally, if any legal issues arise during the transaction, the broker should be able to provide advice and assistance. The broker must also show prospective buyers any listings that match their criteria, as well as inform the seller of all potential buyers who have expressed interest in the property. They must also be able to properly handle any offers that are made and implement any contingencies that may be declared in the offer. Finally, real estate brokers must also provide a professional level of service to their clients including timely responses to any inquiries, clear communication of all important information, and proper guidance throughout the entire process.

Related FAQs

What is the role of a surveyor in a real estate transaction?
What is an adverse possession claim?
What are the laws governing the leasing of real estate?
What is a leasehold estate?
What are the duties of an escrow agent?
What is a seller’s disclosure statement?
What are the disclosure requirements when renting out a vacation home?
What are the legal requirements when forming a real estate trust?
How can I protect my rights as a landlord?
What are the rights of a tenant if the property is in foreclosure?

What are the duties of a real estate broker?

Related FAQs

Related Blog Posts