As of 2020, the US combined housing market value hit a staggering $33.6 trillion. That’s nearly as much as the US and China’s GDPs combined. Take a moment to process that these two are the world’s largest economies!
Buying or selling a home isn’t as easy as most people think. Between wavering house prices, compromises, and fraudulent personalities, real estate can be overwhelming. Fortunately, you can hire a real estate agent to navigate this convoluted marketplace.
But with so many types of real estate agents available on the market, it may be difficult to pin down the right kind for your venture. Join us below as we explore what a real estate agent is and the common real estate agent types you should know.
What Do Real Estate Agents Do?
You can think of real estate agents as the cornerstone of real estate. Real estate agents help you through the various stages of a real estate deal for a commission.
The real estate agent acts as the buyer or seller’s representative in the real estate deal. Some of the key responsibilities of real estate agents include:
- Negotiate prices on behalf of the buyer or the seller
- Analyze the real estate market for investment opportunities
- Arrange for viewing on behalf of potential property buyers and renters
- Organize negotiations between buyers and sellers
- Promote properties through various marketing techniques
These are just a few of the many responsibilities of real estate agents. All real estate agents offer these services, but how do you choose the right real estate agent? Knowing the types of real estate agents will help you make a more informed decision.
Types of Real Estate Agents
What are your real estate agent options?
There are many kinds of real estate agents in the market today. These are the most common ones you’ll find when buying or selling property.
As the name connotes, a rookie real estate agent doesn’t have much experience with real estate. The rookie might have recently acquired their real estate license within the past few years.
Pros of the Rookie
Because rookies are new to the real estate market, they hit the ground running. Rookies have unmatched enthusiasm and energy. Rookies have fewer clients, and they can dedicate more of their time to serve you.
Rookies charge a smaller commission than seasoned real estate agents. If you’re on a tight budget, you can hire a rookie that’s within your budget.
Cons of the Rookie
Because rookies are largely inexperienced, they don’t bring much to the table. They could also make small mistakes that end up costing you.
Rookies may not have established large networks in the real estate field either, which may limit their chances of success. But don’t be too quick to dismiss them, as some rookies can deliver outstanding results.
Charmer real estate agents can charm their way to the best deal or your bank account. Charmers are great conversationalists and get along with everyone. They are natural salespersons with bright white smiles and friendly pats on the back.
Pros of the Charmer
A couple of advantages of hiring a real estate agent who’s a charmer are:
- They can ease any conflict between buyers and seller
- They can land you an incredible deal
Let the charmer smooth your way into incredible deals.
Cons of the Charmer
Charmers also have their downsides, which include:
- They aren’t too good at listening
- They can use their charm for self-interest and charge a hefty commission
- Charmers are great, but you need to tread softly with them.
Techie real estate agents know their way around all the digital mumbo jumbo that has taken over the real estate world. Techies are typically millennials with a knack for all things technology. They know how to leverage apps and social media for their clients’ benefit.
Pros of Techies
Some of the benefits of working with a techie include:
- Techies can use social media like Facebook and Instagram to find and sell homes
- They can help minimize costs by using online communication channels instead of face-to-face communication
Keep in mind that a whopping 93% of house buyers search for houses online. Techies can be great if you’re looking to sell your home.
Cons of Techies
Techies are great in the digital worlds, but not so much on the ground. A few cons of techie real estate agents include:
- They spend too much time on the computer than doing the actual groundwork
- They use technical language that you may not understand
- Most techies are rookies
Techies are excellent for slow real-estate markets because their online channels can expose you to multiple connections. They are also great for fast-paced markets if you need to get an edge over the rest.
The veteran is the opposite of the rookie. This is a seasoned real estate agent with a robust network and decades of experience.
Pros of Veterans
Veterans understand the real estate market intricately. Some pros of hiring veteran real estate agents include:
- They can give sound advice on real estate investments
- They are great at problem-solving.
- Their vast network can come in handy when finding credible sellers
Veterans will give you what you want when you want it. If they can’t, they’ll tell you why.
Cons of Veterans
Working with veteran real estate agents isn’t all sunshine and rainbows. Some drawbacks of veteran real estate agents include:
- They work with several clients, so they may not have enough time for you
- They charge a bundle for their services
- They’re less likely to show up for emergency show requests
Most people prefer veteran real estate agents but can’t match the price. If this describes you, maybe you should consider the other options.
Pick What Works for You
Now that you know the various types of real estate agents, picking one for your needs should be a breeze.
Remember to only work with a licensed real estate agent, as the real estate marketplace is rife with fraudsters who may swindle you out of your hard-earned cash. For more informative content, check out the other posts on our site.