Differences between real estate agents and mortgage brokers
Mortgage brokers and real estate agents are two sides of the same coin; they work together to enable the client to achieve their housing dreams. Real estate agents focus more on the process of finding a home, whereas mortgage brokers are responsible for the boring financial details like establishing price ranges and organising home loans. We discuss these two professions in further detail.
A real estate agent works around the arranging and processing of buying and selling houses. You will most likely encounter the real estate agent through the inspection process and contract of sale. They help sellers sell their property and buyers buy their property. They are the link between buyer and seller creating a meeting place for them to discuss and negotiate, the real estate agent also helps in the negotiations and is well-versed in the local real estate market. Real estate agents are also responsible for showing off homes and are present for home inspections. Real estate agents usually have backgrounds in sales or marketing.
A mortgage broker acts as a representative of their clients and tries to find them the best home loan option for their clients through interest rates and the terms & conditions of a mortgage. You will encounter mortgage brokers when you are searching for home loans and figuring out how much you can borrow. Mortgage brokers help buyers and lenders come together. Mortgage brokers help clients with the finances of purchasing a home and help their clients save money, mortgage brokers look out for the buyer and make sure they are getting what’s best for them. A mortgage broker usually has backgrounds in sales, marketing, and finance (Most commonly in banking).
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Any advice provided is general and does not take into account individual objectives, financial situation and needs. All individuals should consider whether the advice is suitable for them and their personal circumstances.
