What Are the Different Types of Real Estate Broker Services?

Sheri Cyprus

The different types of real estate broker services are mainly divided into those for buyers or sellers. Brokers provide resources for real estate buyers and sellers as well as give advice about pricing negotiations. Many real estate brokers also provide rental management services for property owners who want to rent a suite, house or commercial space to tenants. Some brokers specialize in either commercial or residential property services.

Documents associated with a real estate sale.
Documents associated with a real estate sale.

For buyers purchasing a commercial or residential property as an investment to make a monthly income on by renting out space, a real estate brokerage may offer a complete landlord service. These real estate broker services typically include finding and screening tenants as well as collecting rents. The client usually pays a monthly fee for the services as well as for any needed repairs or other property expenses.

Real estate brokers offer services above and beyond just helping clients buy or sell their property.
Real estate brokers offer services above and beyond just helping clients buy or sell their property.

Real estate brokers have access to information that lay people typically do not. Popular real estate broker services include showing buyers or sellers comparisons or "comps" of similar properties within the same area. Comps can help buyers understand whether or not the seller has a reasonable list price on the property he or she is considering purchasing. They also serve as a guide for the seller to help decide on a fair list price for the property he or she is putting up for sale.

Brokers also access the Multiple Listing Service (MLS), which is a list of properties for sale complete with prices and information about the building, grounds and property taxes. One of the main types of real estate broker services is showing properties, whether those for the buyer to view or the seller's property to interested buyers. Brokers representing the seller often include marketing services such as planning and administering an open house to get groups of buyers to a home to view it. Most open houses take place on weekends in the late morning or the afternoon.

A broker's open is a similar event, but is arranged by a real estate broker representing a seller to have other brokers attend. This kind of service to clients is often done to expand the network of potential buyers. The attending brokers may find that the property seems to meet the buying criteria of one or more of their clients. Other real estate broker services that may be available to clients are home staging techniques to prepare a house or condo to be more suitable to many buyers, such as decluttering and light decorating. A real estate broker usually subcontracts a professional home stager for the job and the client is charged for the service.

Giving clients advice is a regular service provided by real estate professionals. They must be objective and provide clients with all known information about a property. In the case of real estate broker services including the representation of both the seller and buyer, objectivity is especially important to avoid a conflict of interest. Many countries require strict contract agreements that define the exact services a broker will do for a client and at what fee.

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