The Difference Between Realtors, Their Duties And Work Essay

1252 Words Nov 23rd, 2016 6 Pages
Foreign realtors work in a different way

What is the difference between realtors, their duties and work in various countries? You have learned the profession in your country and got your real estate license or as a private seller you have an idea how realtors work in your own country (if not, then it is time to get this knowledge as you want to minimize your expenses and maximize the profit from the sale of your property). The same thought goes for a developer willing to hire a foreign realtor to bring foreign buyers to your newly built properties. Here is the trap that we talked about in the previous chapter: assuming that in any other country realtors work the same way as in yours. They most often do not! The differences may be in so many means: the licensing system and its requirements are unique in each country (in the U.S. even various states have their own rules) and some countries do not require any licensing for realtors at all; the commission size and split between realtors are regulated in some countries or not at all in others; the realtors’ agreements with sellers or buyers are exclusive in some countries and non-exclusive in others; in some jurisdictions realtors are responsible for closing the deal and they pass the task to other specialists in other jurisdictions; using MLS or similar systems is a must for realtors in some countries and such systems do not exist in others; associations of realtors vary a lot in terms of rights and…

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