Who Wants To Be An Agent?
Real estate is a legal term in the USA and a few other jurisdictions pertaining to land. It also includes changes made to the land, or site improvements made to the buildings or fences or walls or anything which is fixed in location. Transactions done for commercial and residential purposes of such real property falls under a regulation of legal codes called real estate law. Often times referred to as real property, both the terms real estate and real property are used in common law. While real estate includes not just the land but also the fixtures on the land, real property refers to the ownership of the land among other things.
The right to occupy a dwelling on such a property calls for a legal arrangement, called tenure and may be either an owner occupancy, tenancy, housing cooperative or other such types.
People who deal in real estate do buying, selling or renting or managing a property. They are called real estate agents. Such agents are trained and own a license to undertake such dealings, but in some states of US, lawyers take up the job without getting a license. A direct deal between the seller and the buyer does not require a license but an agent doing the same without a license is considered illegal. It pertains to both commercial and residential properties and acts as an agent for both the parties. Such practice is called a dual agency. Some agents provide the complete representation of sellers and buyers.
Their job includes selling the property at the highest possible price enabled by strong marketing of the product. When he/she represents the buyer, the needs of the buyer in terms of the price he/she can pay are to be considered. The law prescribes a minimum age of 18 years for anyone to work as a real estate agent in USA. Other requirements include being a high school graduate and a valid license. Such licenses can be renewed every one to two years. One can also do a course offered by many real estate schools to bring proficiency to the job. At the moment most real estate agents are busy helping investors and buyers to close deals in a market that is seeing ups and downs. This is the testing times for the agents and investors to the make of the bad situation that has resulted due to the recession.
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