What Is a Real Estate Agency?

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What Is a Real Estate Agency?

Real estate agencies are business organizations that assist people with real estate matters. They usually represent either the buyer or the seller when it comes to home sales transactions. The agency is a collective group of licensed agents and/or brokers who operate in a given geographical area.

For smaller real estate issues, such as a boundary dispute, the use of a real estate agent might not be necessary. However, for larger transactions involving large properties or lots of lands, it may be absolutely necessary to hire a real estate agent.

What Tasks Do Real Estate Agencies Perform?

Real estate agencies help their clients with a number of tasks. Depending on what type of client they are assisting, their aims might be different. For sellers of properties, a real estate agency might:

For buyers, tasks might include:

Thus, real estate agencies can provide a wide range of tasks and services. Laws vary greatly by state regarding the scope of an agent’s duties and responsibilities.

What If I Have a Legal Dispute with a Real Estate Agency?

If an agency relationship has been formed between an agent and their client, there are various standards that need to be followed. For instance, the agent has a duty to maintain privacy, professionalism, and ethical guidelines. A violation could lead to a separate legal proceeding against the agent or their agency. This is often the cause when it comes to various forms of real estate fraud in which the agent is a part of the violation.

Should I Hire a Real Estate Lawyer?

Real estate agencies can be very helpful during a real estate transaction. In some cases, their services may be indispensible for completing all the requirements. You may also need to hire a real estate lawyer if you need assistance with any real estate issues. Your attorney can provide you with legal advice regarding the property and can also provide addition guidance during the process.

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Last Modified: 07-23-2015 02:14 PM PDT

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