Agents and brokers also act as a medium for price negotiations between buyer and seller. Brokers are independent career people who not only sell real estate owned by others, but also rent and manage properties, make appraisals, and develop new building projects. In closing sales, brokers often arrange for loans to finance the purchases, for title searches, and for meetings between buyers and sellers when details of the transactions are agreed upon and the new owners take possession. A broker's knowledge, resourcefulness, and creativity in arranging financing that is most favorable to the prospective buyer often mean the difference between success and failure in closing a sale. In some cases, agents assume the responsibilities in closing sales.
Brokers also manage their own offices, advertise properties, and handle other career matters.
Some combine other types of work, such as the sale of insurance or the practice of law, with their real estate career. Real estate agents generally are independent sales workers who provide their services to a licensed broker on a contract basis. Today, relatively few agents work as employees of a broker or realty firm. In selling or renting real estate, brokers and agents generally first meet with potential buyers to get a feeling for the type of home they would like and can afford. Then, they may take the client to see a number of homes that appear to meet the needs and income of the client.