Working with a Local Real Estate Broker

As a homebuyer, you need to become reasonably familiar with the complicated real estate process, but you don’t have to do it alone. To ensure a smooth and successful home buying experience, it’s highly recommended to start by finding a great lender, like Thompson Kane, who can get you pre-approved for a mortgage. By obtaining a pre-approval, you’ll have a clear understanding of your budget and be better positioned when making offers on properties. A service-obsessed lender like Thompson Kane will provide expert guidance and assistance in securing a mortgage that suits your needs.

Once you have your pre-approval in hand, it’s also beneficial to get support from Thompson Kane in choosing your real estate broker. We have established connections with experienced and reputable brokers in the area who can provide a superior client experience. Collaborating with both a trusted lender and a reliable real estate broker can significantly enhance your home buying journey.

So what exactly is a real estate broker?

A broker is a licensed real estate agent who not only buys and sells homes but also oversees and supports other agents working under their guidance. Brokers can either work independently or lead a team of agents. Some brokers even opt to establish their own businesses, known as brokerages, while others prefer to remain part of a larger firm.

Is it necessary to work with a real estate broker?

The answer is no. It’s entirely possible to buy or sell a property on your own, a method referred to as “For Sale by Owner.” However, it’s important to note that taking this route means assuming full responsibility for every aspect of the real estate transaction, including marketing, showings, legal documents, and compliance.

On the other hand, collaborating with a broker grants you access to extensive knowledge of the real estate market. This can significantly streamline the entire process, leading to a quicker and more favorable financial outcome. Nevertheless, it’s worth noting that some brokers primarily focus on the business and management aspects rather than direct client interactions. Therefore, it’s advisable to inquire about your broker’s preferred method of engagement. They may direct you to one of their agents who can provide a superior client experience while still benefiting from the broker’s expertise.

For a deeper dive into the differences between an agent, and broker, and a realtor, check out this summary on Investopedia.