What Are The Main Differences Between A Real Estate Agent And A Mortgage Broker?

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If you are new to the mysterious world of real estate, it can seem quite daunting, with so many terms and phrases that are not used outside the industry, and many newcomers confuse the real estate agent with the mortgage broker, who are both involved in property acquisition, yet their roles are slightly different. Here is a detailed description of both professions to help you gain a better understanding of their respective roles in property conveyance. 

The Real Estate Agent

The real estate agent is the person who helps you to either find your dream home or to sell your existing property, and he typically has a flat rate for his services. Both finding a buyer and a seller require different attributes; when the real estate agent is helping a buyer source the right property, he will listen carefully to the buyer’s preferences, then check his and other agent’s listings, and come back to the buyer with a short list of properties to view. If you are looking to sell your home, the agent will take photos of the house and list the property in a number of places, and today, real estate agents mainly operate online, as websites reach a far wider audience.

Online Solutions

Most people who are looking to buy property would search the many online listings, which is not only very convenient, it also offers much wider exposure, allowing the potential buyer to view many properties. The same goes for those who wish to sell, and when they sign up with an online real estate agent, they can be sure that their property will be presented in a professional manner and the listing will reach a large number of potential buyers.

The Mortgage Broker

If you are looking for a home loan, you should approach an independent mortgage broker such as https://www.mintequity.com.au/mortgage-broker-sydney, who happen to be one of Sydney’s leading mortgage brokers. The independent mortgage broker is not tied to any single lender, therefore they can approach many different lenders on your behalf, which usually leads to a home loan that suits you perfectly. Another thing worth noting is that the services of a mortgage broker are free to the borrower, as they receive a small remuneration from the lender once a loan has been secured.

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There are many different types of mortgage, so you are advised to spend some time discussing your needs with the independent mortgage broker, as this will help them to find the home loan that best suits your lifestyle. When searching for an independent mortgage broker, be sure to read the online review from previous clients, as this will give you a good indication of their success rate and level of service.

As you can see, both the real estate agent and the mortgage broker help people to buy property, with one helping to source the right house, while the other assists the buyer to secure a home loan. Both are essential components of the process, yet each has a slightly different role, and when you are looking to buy real estate, you will be dealing with both of these professionals.

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