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What Does a Real Estate Agent Do?
A real estate agent helps facilitate buying and selling homes. You'll likely work closely with your agent throughout the buying or selling process.
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Kate Wood is a mortgages and student loans writer and spokesperson who joined NerdWallet in 2019. With an educational background in sociology, Kate feels strongly about issues like inequality in homeownership and higher education, and relishes any opportunity to demystify government programs. Prior to joining NerdWallet, she wrote about home remodeling, decor and maintenance for This Old House magazine.
Johanna Arnone helps lead coverage of homeownership and mortgages at NerdWallet. She has more than 15 years' experience in editorial roles, including six years at the helm of Muse, an award-winning science and tech magazine for young readers. She holds a Bachelor of Arts in English literature from Canada's McGill University and a Master of Fine Arts in writing for children and young adults. Practice making complicated stories easier to understand comes in handy every day as she works to simplify the dizzying steps of buying or selling a home and managing a mortgage. Johanna has also completed coursework in Boston University’s Financial Planning Certificate program. She is based in New Hampshire.
Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money.
A real estate agent is a professional who helps people buy and sell properties. Here's an explanation of what real estate agents are (and aren't) and the different roles agents can take on in a real estate transaction.
What is a real estate agent?
Real estate agents are licensed professionals who manage real estate transactions between buyers and sellers. There are two agents in a real estate deal: the buyer's agent and the seller's agent, who is often referred to as the listing agent.
Professionals on both sides of the transaction earn money through a real estate agent commission. Each agent's commission is a percentage of the total sale price, with the combined commission often totaling somewhere between 5% and 6%.
Real estate agents must be state licensed, which means they have met training requirements and passed an exam. Continuing education is often required to maintain an active license.
To verify that an agent is currently licensed, check your state real estate commission's website. You can also search the Association of Real Estate License Law Officials database website.
🤓Nerdy Tip
Agents may have specific certifications or accreditations that can be helpful when buying or selling certain properties. For example, if you're buying a condo, an agent who's a Certified Condominium Specialist may be more familiar with your area's developments and haves experience with condo transactions.
What all real estate agents do
Whether you're on the buying or the selling side of the transaction, your real estate agent will assist with several parts of the process.
Here's what you can expect any real estate agent to do:
Have deep knowledge of the area. This can include property values and comparable home sales, as well as information on schools, neighborhoods and more.
Understand the process. Your agent should also know local and state real estate laws and common practices.
Answer all of your questions. If it's your first time buying — or selling — you're likely to come across terms you don't recognize and tasks that seem baffling. What's the difference between pending and contingent? Why do you need title insurance? How thoroughly do you need to fill out disclosure forms? Your agent should be able to confidently and competently explain it all.
Take care of the paperwork. In some cases, your agent might be the one who draws up the contract. Even when that's not the case, an agent will usually review every document in the transaction. After you've signed off, the agent will submit the paperwork on your behalf.
Keep lines of communication open. Buyers and sellers don’t usually meet — instead, their agents handle any negotiations. Your agent will also keep you up to speed on where the process stands.
One more thing: Your agent should consistently represent your interests in the transaction. After all, getting the best price means two very different things depending on whether you're the home seller or the buyer. A single agent representing both sides is known as dual agency, and it's illegal in some states.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
500500
Min. down payment
3.5%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
0%On VA loans, NBKC offers down payments as low as 0%.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
500500
Min. down payment
3.5%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%Rate offers conventional loans with as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3%Rocket Mortgage offers conventional mortgages with as little as 1% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
500500
Min. down payment
3.5%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3.5%First-time home buyers may qualify for 3% down mortgages at Rocket.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
0%Veterans United offers VA loans for as little as 0% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
0%On VA loans, NBKC offers down payments as low as 0%.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
500500
Min. down payment
3.5%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%Rate offers conventional loans with as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
1%Rocket Mortgage offers conventional mortgages with as little as 1% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
620620
Min. down payment
3%NBKC offers conventional loans for as little as 3% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3%Rocket Mortgage offers conventional mortgages with as little as 1% down.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
3%New American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Min. credit score
580580
Min. down payment
N/ANew American Funding works with down payment assistance programs in 14 states, including California, Texas, Florida and Illinois.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
A Realtor is a licensed real estate agent who is also a member of the National Association of Realtors. NAR is the largest trade association in the U.S., so many real estate agents are Realtors.
Realtors are expected to follow NAR's standards and code of ethics, and they must participate in regular training to maintain their status.
People often use the terms real estate agent and Realtor interchangeably, but that's sort of like saying Band-Aid when you mean adhesive bandage. Not all bandages are Band-Aids, and not all real estate agents are Realtors.
Other real estate associations
NAR isn't the only trade association for agents. In addition to state and local associations, there are other national associations, including the National Association of Real Estate Brokers. NAREB, which emphasizes social justice and housing equality, designates its members as Realtists. Agents can belong to multiple professional organizations.
Real estate agent vs. broker
Real estate brokers are agents who have more training and additional licensing. Agents work under a broker, but brokers can work independently or supervise real estate agents at a brokerage. The broker receives a portion of each agent's commission.
If you're interviewing a potential agent who is a real estate broker, ask whether you'll be working directly with them or with another agent within their brokerage.
You might also hear about discount real estate brokers. These are generally larger brokerage networks that connect home sellers with agents willing to take a lower commission. While it may cost less to work with a discount broker, these brokers might not provide all the services a listing agent typically would.
What buyer's agents do
A buyer's real estate agent helps their clients buy homes. Someone who's selling their current house and buying a new one will usually continue working with their listing agent as their buyer's agent.
This isn't considered dual agency, because the home sale and the home purchase are two separate transactions.
Buyer's agents will:
Listen to your needs. Knowing what's a must-have and what's negotiable will help them find homes on the market that will interest you. You'll also want to be clear with your agent on your price range.
Find potential homes. Your agent should uncover new listings for you, but in an age where scrolling through real estate apps is a common pastime, you'll likely send your agent listings, too. They can help here by looking at the property in the Multiple Listing Service, or MLS. As a licensed agent, they'll be able to see information that's unavailable to the public. This can include details about potential issues with the home or conditions of the sale.
Talk to listing agents. Your buyer's agent will reach out to listing agents to get answers to your questions about properties and set up in-person showings. Sellers may ask for a copy of your mortgage preapproval, and your agent will deal with these types of requests.
Provide referrals. For example, your agent should be able to direct you to a home inspector.
Generate and submit offers. When you see a home you love, your agent will work with you to submit your offer to the listing agent. A good buyer's agent should know what local sellers expect and will be able to discuss contingencies and other considerations with you.
When you're ready to sell your home, you'll turn to a listing agent. Assuming you're moving into a new place, it's common for the listing agent who sells your home to be your buyer's agent as well.
Listing agents handle many of the same to-do lists as buyer's agents, but there are a few tasks that are specific to seller's agents:
Help price your home. A listing agent will look over your property in detail and show you examples of comparable properties in order to properly price your home.
Make suggestions to help sell the home. In order to get your home the best price, your agent may recommend a few adjustments. That could include taking care of repairs that will turn up on a home inspection, decluttering or depersonalizing the space.
Market your home. A solid listing agent will get professional photography of your home and write up a strong listing for the MLS. Additional marketing may include advertisements, open houses or simply networking with other agents.
Vet potential buyers. Sellers can ask to see a preapproval or other proof of funds in order for a buyer to see a home in person. The listing agent will talk with buyer's agents to assess their clients' seriousness and set up in-person tours.
Guide you through multiple offers. Having multiple offers on your home is exciting, but it can also be stressful. Your agent should help you determine which is best for you.
Your listing agent will also, of course, be on your side throughout negotiations. They'll double-check paperwork that comes through, communicate with the buyer's agent and other parties to the sale, and generally stay on top of things through closing day.
Frequently asked questions
What does a real estate agent do for the buyer?
A buyer's agent will help you find homes for sale, write and submit offers, negotiate with sellers and make referrals for services like home staging.
What are the advantages of working with a real estate agent?
Working with a good real estate agent can remove a lot of hassle and stress from the buying or selling process. Good agents know the local market and how real estate transactions work. They listen to your needs, help you set realistic expectations and negotiate on your behalf.
What does a real estate agent do for the buyer?
A buyer's agent will help you find homes for sale, write and
can remove a lot of hassle and stress from the buying or selling process. Good agents know the local market and how real estate transactions work. They listen to your needs, help you set realistic expectations and negotiate on your behalf.