A real estate broker is a term in the United States which describes a party who acts as an intermediary between sellers and buyers of real estate (or real property as it known elewhere) and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency with the broker having a fiduciary relationship with his clients.
Estate agent is the term used in the United Kingdom to describe a person or organization whose business is to market real estate on behalf of clients, but there are significant differences between the actions and liabilities of brokers and estate agents in each country. Beyond the US, other countries take markedly different approaches to the marketing and selling of real property.
Since each state's laws may differ from others, it is generally advised that prospective sellers or buyers consult a licensed real estate professional.
Some Examples:
* Comparative Market Analysis - an estimate of the home's value compared with others. This differs from an appraisal in that property currently for sale may be taken into consideration (competition for the subject property).
* Exposure - Marketing the real property to prospective buyers.
* Facilitating a Purchase - guiding a buyer through the process.
* Facilitating a Sale - guiding a seller through the selling process.
* FSBO document preparation - preparing necessary paperwork for "Sale By Owner" sellers.
* Full Residential Appraisal - but only, in most states, if the broker is also licensed as an appraiser.
* Home Selling Kits - guides to how to market and sell a property.
* Hourly Consulting for a fee, based on the client's needs.
* Leasing for a fee or percentage of the gross lease value.
* Property Management.
* Exchanging property.
* Auctioning property.
* Preparing contracts and leases. (Not in all states.)
These services are also changing as a variety of real estate trends re-engineer the industry.