Whether you’re planning to buy or sell a home, it’s a good idea to familiarize yourself with basic real estate concepts and terminology. Photo: The Bower Cole Group (2015)
For the uninitiated, real estate can be like learning a new language. In this article, we cover some of the basics, from key industry terms to commonly asked questions.
With all the different titles in real estate, it can be hard to keep track of who’s who. Here’s a simple breakdown of the main real estate designations:
Realtor: A realtor can be an agent, broker or other real estate professional. What defines a realtor is not their designation, but their adherence to the Code of Ethics set forth by the National Association of Realtors, which you can read here.
Agent: An agent possesses a salesperson license with the California Department of Real Estate (DRE). In order to practice real estate, agents need to associate themselves with particular brokers (known as “hanging a license” in the industry). Continue reading “Industry Overview: Real Estate 101” »
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