Many investors immigrating to the United States will purchase property and interact with American real estate agents. It is well known that there are significant differences in the operations of real estate agents in China and the United States. Understanding the local situation can help investors successfully purchase property.
Real estate agencies in China are distributed throughout the streets and alleys, primarily focusing on property buying and selling (leasing) services. However, domestic real estate agents typically act as brokers for both buyers and sellers, representing both parties. After a successful transaction, the agency collects a corresponding commission, and the salesperson who facilitated the deal receives a commission as well. This is the main operational and business model of domestic real estate agencies.
In contrast, the real estate agency industry in the United States is much more mature than in China. Real estate agents and lawyers, like other professionals, are required to hold licenses to practice, making it a profession that requires specialized knowledge. Real estate agents primarily engage in single-party representation, acting as the representative for either the seller or the buyer.
Moreover, American agencies bear greater responsibilities compared to domestic real estate agencies. Typically, there is only one agency in a given area, which is a significant difference from the numerous real estate agencies found in China.
The real estate market in the United States is mature and regulated, with a comprehensive property transaction system. For example, if Lily wants to sell her house, she will list it at the local exchange, and a licensed professional real estate agent will contact her. If Lily agrees, a representation agreement will be formed, and the real estate agent will then find a buyer. After a successful transaction, the transfer procedures will be completed at the local exchange (agency).
Regarding commissions, the agency will only take 10% of the commission, while the real estate agent will receive 90%. Therefore, in the United States, being a real estate agent is considered a relatively high-income profession.
As a leading institution in U.S. investment immigration, WorldWay Immigration provides professional and attentive services that permeate every detail of the investor's immigration process to the United States. When clients first arrive in the United States, the WorldWay customer service center will provide comprehensive assistance for settling in, including arranging airport pick-up for the first entry; assisting with bank account opening procedures; helping to apply for a Social Security card; assisting with hotel reservations; helping to book flights to the United States; assisting in contacting driving schools and providing information on the driving test; assisting in contacting moving services; and assisting in contacting real estate agents to facilitate rental or purchase of property, among other related matters. For more information, please call: 400-138-2929.
