When buying or selling a home or piece of property many people choose to go through a real estate broker. Ed Sarfo is a real estate broker in the Lexington, Kentucky area and has been helping people with their real estate needs for over ten years.
This is a big decision and one that requires the person to understand what a real estate broker what and how they can help work through the complex process of buying or selling real estate. Ed Sarfo always treats his clients with respect and believes honesty and integrity are very important in his field.
A real estate broker can also be called a real estate agent. They act as an arbitrator between the buyer and sellers of a property. When working for the seller they help seller market and advertise their property in order to find the right buyer and get the highest price possible and under the best terms.
They can also work for the buyers and will search through listings of available properties to help buyers find a property that meets their needs and wants, like price, size, location, condition, and terms among others. Agents or brokers are typically paid through a commission or percentage of the sale of the property. This commission may need to be divided between multiple brokers, if they were involved with the process.
It is possible for the same broker to help both the buyer and seller of the property; this is called a dual agency. It is very important for the agent to inform both parties if this is the case as it is illegal and unethical for them to represent both parties without informing the each.
The broker must always be honest and upfront with both the client, who he owes his fiduciary duties to like confidentiality, care, obedience, loyalty, disclosure, and accounting. He also is responsible for dealing fairly and honestly with his customer and must have both parties sign a dual agency agreement so everyone understands the terms.
Real estate agents will usually have to go through the process of obtaining a license before they are able to be paid for their services as a broker. This is required in most places in the United States. Lawyers are also allowed to broker a real estate sale without being separately licensed in some places.
Ed Sarfo believes in being open and honest with all of his clients. He uses his knowledge of the real estate market in the Lexington area and his desire to help clients in order to successfully broker their real estate transactions.