What Does A Ponsonby Real Estate Agent Do?
What is the difference between a real estate agent and a real estate salesperson?
On the surface, this may seem like a simple question to answer; however, to answer the question accurately, one must possess a deep understanding of the real estate industry and its structures. It is critical to shine light on this issue, especially since the industry has changed significantly in the past year, due to the 1976 Real Estate Agents Act being repealed. This act has been replaced with the 2008 Real Estate Agents Act. The new act covers every professional that works in the industry. The only exception is residential property managers, whom handle rental properties. The 2008 Real Estate Agents Act puts in place the principles and processes that all individuals must follow in the field.
All real estate professionals who are compensated via fees or commission for real estate services must possess a license by the Real Estate Agents Authority. The term “real estate agent” is used widely as far as real estate is concerned, but a real estate agent is given a license on a designated level under the new act. Most real estate professionals in Ponsonby are salespeople, not licensed agents. These licensed individuals make up the majority of individuals you will encounter during the process of selling and buying real estate properties. Even though they may be called agents, they are likely to be salespeople instead. Under the new 2008 Real Estate Agents Act, there are now three different classes of licenses that real estate professionals can possess. The first type of license is an agent, which allows the licensee to conduct real estate agency business on their own account. This can be as part of a partnership or otherwise. The second type of license is a branch manager. These managers are permitted to conduct real estate agency business on the agent’s behalf or for the agent.
The last license that real estate professionals can possess under the new act is as a salesperson. This license permits the license holder to conduct real estate business on the agent’s behalf or for the agent. Salespeople must be supervised by a branch manager or an agent when conducting any type of real estate business. The Authority for Real Estate Agents has a detailed website that is a great resource to learn about all of the aspects of the real estate industry. A public register can be found on the website that lists every single license holder, including salespersons, branch managers, and agents. This search tool is a great way to confirm the license details of a person whom you may be doing business with. As a tip, the best method to use when searching is to type in the last name into the search field, and then enter the CAPTCHA security code. It is not strange to discover a licensee whose license is registered at a location different than their office location.