Real Estate Agency Basic Facts

Real estate agencies are the real estate offices of real estate brokers or real estate agents. A real estate agency may be visited by an individual who seeks to enter into a relationship with a real estate broker in order to facilitate their sale or purchase of real estate property.

Real estate offices are present in many communities, although most real estate agencies also have websites which serve to replicate many of the same services that are provided in the physical version of the real estate agency. The real estate agencies serve as intermediaries between sellers and purchasers of real estate.

In some cases, different members of the same real estate agency may have independent contractual relationships formed with either party in the sale. This is permitted under real estate law, so long as any individual employee in the real estate agencies does not try to take advantage of the particular situation of a client of another member of the real estate agency.

In most jurisdictions, memberships in real estate agencies require an individual to become licensed before they can join real a estate agency. Although in many cases lawyers are not required to be licensed as a real estate broker, it is rare that a lawyer will join a real estate agency.

When working with people selling real estate property, they seek to sell the property for the highest possible price. When working with purchasers, real estate offices help buyers find property for the lowest price. In either case, A real estate agency seeks the best possible term for their client.

NEXT: What is a Real Estate Broker