Published on March 25th, 2017 | by Mack A0
Understanding Brokerage Of Real Estate
Real estate has now probably become the number one area of investment for every individual who are interested in savings. People are either purchasing property for their personal use, or even purchasing them with the intention of putting it out on rent to initiate a regular income; alternatively people are also engaged in the business of buying and selling the same property after some kind of renovation and maintenance in order to get high profits from the transaction.
Now, any kind of transaction pertaining to the real estate is usually not done in a direct manner, i.e. directly sold by the seller to the buyer; there is, in most cases the involvement of a third man, the broker. It is the fees that this broker takes in order to see to the successful completion of a transaction between buyer and seller that is known as the brokerage.
Brokers are looming large in the business industry, they work either as individuals or as companies; their principle aim is to provide assistance to both parties involved in the transaction related to a real estate property. The Welfont Group is a boutique commercial company that basically helps in the search of commercial real estate property. They provide this assistance to the non-profit organizations through, what they have termed as the “170 Exchange”. This is the acquisition of real estate property via the “Bargain Sale “transactions of the Internal Revenue Code 170. They are primarily known to be the representatives of non-profit organizations who take care of the real estate transactions of these organizations and see through till the client gets the desired results.
In order to become a broker you must go through rigorous training and educate yourself properly with all the facts related to the real estate industry. The brokerage is broadly classified into two categories: Full Service Brokerage and Discounted Brokerage.
Any brokerage company that offers a wide range of products and services to its clients is known to be providing full service brokerage. Their services may include customization of plans, market research, and advice of the experts, proven tips, consultations and the like. In short, all of those services that would be beneficial in implementing any transaction of real estate are offered by these brokerage companies. The purchase and sale of stocks and shares are also done through their mediation.
The relationship of these brokers with their clients is a very close knit one as they work hand in hand understanding the client’s requirements properly and providing them information about the appropriate services or products for the client. This is what makes them more expensive. The Welfont Group is one such full service brokerage company that looks to the investment of their client until their returns on the investment are materialized.
Contrarily, the discount brokerage as the name suggests offers a discount in the rates of their services and products because it is done by automated or computerized systems. The broker does not have to be present in person before the client; instead the transactions are completed with the internet, phone or fax. This is a comparatively newer concept, but an extremely helpful one undoubtedly.