Do Real Estate Agents Close Real Estate Transactions?
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Question:
I’m thinking of going into real estate. I like sales, but am not sure about the skills needed to do the paperwork and money parts of a real estate transaction. Do agents even do this part of the deal?
Answer:
While real estate agents can help bring a buyer and seller together when they are negotiating the terms of a property purchase, most real estate transactions are closed by title companies. A Title company “closes” a deal by preparing the title insurance policy and the settlement statement, while they are also responsible for collecting the funds from the buyer, preparing the deed for the property, and making sure that all the transaction paperwork is recorded properly.
As a real estate agent you will need to know how to review all of these closing documents and be able to explain their significance to your clients, but in general, agents are not required to prepare legal documents or collect funds. Sales and marketing skills are more often used by real estate agents than math or legal skills, but it is always beneficial for an agent to be fluent in the language of real estate and finance. Remember, buyers and sellers will look to you, as their agent, for professional advice regarding one of the most important business transactions of their lives.
If you decide to pursue a career in real estate, you will be introduced to some of the more commonly used documents during your real estate licensing class. Once you are actively working and closing deals, your familiarity with real estate closing documents will increase, as will your level of comfort and expertise.
Tags: a career in real estate, real estate agent, real estate closing documents, real estate jobs, real estate licensing class
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