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Updated over 4 years ago,
Real Estate Agent vs Broker - Clarify distinction I read about?
Hello All! Glad to be a part of this forum. I am starting out in real estate investing, and I have a question about something I read in a book.
I am trying to decide whether I need a real estate broker or agent.
In the book the said that agents are usually fine for a single family home purchase (I'm planning on house hacking a SFH).
But one thing the book said that I didn't understand was:
"Many investors of real estate don't want the disruption that can occur with openly listing the property. The management company and onsite employees begin to worry about their jobs. And tenants become concerned that rents will be raised. These problems can be avoided by quietly talking to 1 or 2 top brokers in an area, with the understanding that the potential transaction is to be kept confidential. This leads to some great opportunities for the top brokers and their clients."
Are they saying that brokers are better than agents beause of this? And what do they mean by this?
Is this when BUYING or SELLING? I don't understand why a property would be listed after you BUY, as you would have it for multiple years before you sell. What am I missing here?