Basic Defination of Real state Terms in Calgary
Real estate agent: anyone who passed a real estate licensing exam from RECA calgary Can be licensed as a sales professional, an associate broker or a broker. Required to take continuing education classes annually, depending on the province, to keep their license active. Works under a broker.
Real estate salesperson: same as a real estate agent.
RealtorⓇ: an agent who is a member of the CREB in calgary . REALTORSⓇ. Must uphold the standards of the association and is held to a high code of ethics.
Buyer’s Agent: an agent representing the buyer in a real estate transaction. Assists buyers in finding a home. Once a contract has been entered into, a buyer’s agent can also be called the selling agent (the agent who sold the home).
Seller’s Agent: Also referred to as the listing agent (listed the home on the MLS). If the seller has signed an exclusive-right-to-sell agreement, then the seller’s agent is entitled to the commission. If not, another agent representing the seller would earn the commission.
Listing Agent: Typically the agent representing the seller, as they have listed the seller’s house on the MLS. Experts in marketing homes for sale. Hired by someone looking to sell their home. Also referred to as the sellers agent because they represent the seller.
you and help you make one of the biggest purchases of your life. Looking for the perfect real estate agent doesn't have to be difficult, but it is important. Don’t feel obligated to hire an agent just because he/she showed you a home and understand that they will likely be interviewing you as well. Talk to your friends and family to learn more about agents they’ve used and how they might be a good fit for you.
Hire a licensed real estate agent or, preferably, a RealtorⓇ. These agents are licensed, educated experts with access to more listings than you’ll ever see online, have expert negotiating skills to help you get through bidding wars, deal with counter offers and more, saving you thousands of dollars.
Licensed real estate agents understand the real estate language and they can make sense of contract terms and other real estate jargon. They have connections with experts in mortgage, financing, title companies, etc., making it easy for you to get through the entire real estate buying process without having to find these contacts on your own. Although, you don’t have to feel obligated to use who they recommend.
Know that some agents work full-time while others work part-time. This is an important factor to consider when looking to hire an agent. If they are working full-time, they will likely be able to devote more time to your house search and be available to show you homes more readily. A part-time agent may still suit your needs but may not be available when you reach out to them with questions. If a market is hot and homes are selling quickly, time is of the essence. A home that’s listed today, may sell by tomorrow morning. In this case, you need an agent who makes him/herself readily available so you don’t miss out on homes in a fast moving market.