Beginning today, my blog will take a new direction. In the past I've talked about things that are going on in the east of the Anacostia River community. I'll still post and keep readers updated on community issues, but I am now going to talk about the booming real estate market we have east of the Anacostia River and how these issues affect real estate east of the Anacostia River. I'll post articles written by myself and others. I'll also give real estate tips in general. The first article will start with real estate basics; Real Estate Vocabulary written by Joe Lane.
Real Estate Vocabulary ~ Who Are The Players
When beginning a new venture, there is always a new language to learn. In real estate knowing the right language can be the difference between making good choices, and having serious problems down the road. To help buyers and sellers get on the right track, here are a few key words so you, too, can tell the different between real estate personnel.
The definitions here are for the most typical use, though in some states the definitions of Real Estate Agent and Real Estate Broker may be different. It is wise of confirm what an agent or broker means by that before entering into a business relationship with them.
Real Estate Agent
A real estate agent is an independent real estate sales person. Typically they are required to be licensed by the state. The majority of Real Estate Agents are employed by or under contract with a real estate broker. Real Estate Agents earn a percentage of the broker’s commission when they sell a home.
Real Estate Broker
A Real Estate Broker has undergone further training for additional real estate licensing. Real Estate Brokers are the homeowner’s direct link to the real estate market. While they do work as sales people, just like Agents, they spend an equal or greater amount of time searching for new homes to sell. Brokers are frequently in charge of supervising the purchasing process and often combine their real estate business with law, insurance, financing or some other related practice.
Realtor®
Frequently in the real estate business a Real Estate Agent or Broker will call himself a Realtor. An agent or broker is qualified to do this when they become members of the National Association of Realtors. The NAR is the worlds largest professional association. In order to be a member of the NAR, and there fore be a Realtor, agents and brokers must agree to follow the NAR’s strict Code of Ethics. This Code of Ethics protects buyers and sellers from unscrupulous business people. Making a point to work with a Realtor instead of an unaffiliated Real Estate Agent or Broker is one small guarantee that a buyer or seller will be treated well.
MLS or Multiple Listing Service
The MLS is a service that real estate brokers and agents have access to. It is a complete listing of all of the real estate available for sale in the area. Because maintaining this system isn’t free, there is a cost to subscribe. By working with an agent, buyers automatically has access to the MLS in addition to the expert advice of a real estate professional. With the technological advances of the past twenty years, accessing the MLS for cross country buyers is as simple as helping someone within the community. This streamlines the home buying process for dozens of buyers every day
By Joe Lane, co-owner of The Lane Real Estate Team at http://www.joelane.com/. Are you looking for an experienced Tri City WA Real Estate agency? With 20 years of service based, business experience, Joe and Colleen Lane work hard to serve home buyers and sellers for Tri Cities WA Real Estate, Kennewick Real Estate, Richland WA Real Estate, Pasco Real Estate, and surrounding areas. Website and SEO by 1stPageSEO.com
ANACOSTIA RIVER REALTY: The east of the Anacostia River experts!
http://www.AnacostiaRiverRealty.com
This is the right time for the people who are planning to make investment in Kennewick Real Estate. There are stores, shopping malls and restaurant nearby and people can splurge their day going to Canyon Lakes and many attractive places.
ReplyDeleteI agree with Corinne. Out here in Washington, Tri Cities real estate is absolutely booming. What would you suggest as the best way to get the new communities involved?
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