Find Laws Find Lawyers Free Legal Forms USA State Laws
Home » Find Laws » Property Laws » Property Law » What You Must Know About Property Brokers

What You Must Know About Property Brokers

Property Brokers

Property brokers are those individuals who help others to buy or sell real estate property. They act as agents for their clients, performing the search for property to buy, or for buyer to whom they could sell, in their clients' steads. A property agent, as an agent for his or her client, is afforded certain legal powers with regard to that client, depending upon the initial contract which established the agent status of the real estate broker.

Realtor agents are required to act in the favor of their clients, as acting in their clients' disfavor would revoke their agent status, but they can make deals and contracts for their clients, assuming that the initial contract gave them such power. Property brokers are separate from real estate salespersons, in that property brokers are often better trained and better educated than a real estate salesperson might be out of necessity.

Furthermore, as mentioned above, the agent status of realtor agents and of a property agent is significant legally in terms of that agent's responsibilities and powers. For example, property dealers officially acting as agents must divulge on whose behalf they are acting, whereas someone selling with no agent property salespeople might not be able put the same responsibility on those salespeople.

It is entirely possible to sell one's own property without the help of property dealers. Selling no agent property is often more difficult than it is selling that same property with the help of property brokers, however, as the no agent property would be entirely left up to the owner to sell.

This means the owner, who might not have the requisite experience, would not only have to set his or her own price correctly, but he or she would also have to find buyers on his or her own, and then manage the negotiations and deal making on his or her own. This is why no agent property sales are generally not as recommended.

NEXT: What You Should Know About Property Preservation

Related Articles

Link To This Page


Find an VA Lawyer
Guide to Finding a Lawyer