Key Professionals Involved In Real Estate

KEY REAL ESTATE PROFESSIONALS

The following is a non-exhaustive list of some of the professionals who may be involved throughout the real estate process.

Real Estate Agent – Also known as a licensee, the Real Estate Agent is licensed by the state to represent consumers in the real estate transaction. The Listing Agent represents the seller, while the Buyer’s Agent works with the purchaser. A licensee who is a member of the National Association of Realtors (“NAR”) is known as a Realtor.

The Loan Officer and Appraiser work with the mortgage lender in the processing of the mortgage loan. The Loan Officer helps identify loan programs and terms for the buyers, while the Appraiser provides a value analysis of the subject property based on features and comparable properties.

The Settlement Officer works for the Title Agency to provide title insurance and settlement services. While other employees of the Title Agency perform duties to identify and clear potential title defects, the Settlement Officer communicates with the Buyer, Seller, Real Estate Agents and Lender to coordinate the signing of documents and disbursement of funds.

There may be other professionals involved in a particular transaction, and consumers should rely on their own research, as well as input from their Real Estate Agent, so ensure they are working with reputable service providers.