If you’re in the market for a commercial property, you’ve most likely had titles such as real estate and mortgage agent thrown at you. And even though you might have a general idea of what each position entails, if you’re like most, chances are you’re a bit foggy on the details. For this reason, you might be wondering to yourself: what’s the difference between a real estate agent and a mortgage agent?
Granted, they share similarities. As experts within the real estate industry, both assist their clients with acquiring residential and/or commercial real estate. However, it’s their functions and tasks that separate them. For example, real estate agents assist their clients with finding or selling property, while mortgage agents assist their clients with securing financing to purchase property.
Many real estate agents typically have a background in sales and marketing. The industry standard requires all of them to be licensed. This line of work usually requires long hours as they’re constantly showing properties to potential buyers — oftentimes without a sale. Other duties include:
Again, the main differences that separate these two vocations can be found in the daily tasks and responsibilities of each one.
At the end of the day, a real estate agent’s fundamental task is to make the buying, selling, and renting process easy and effortless for their clients. Their job is to quell your uncertainties and make you feel comfortable doing business with them so you can step into your new commercial space with ease and delight. If you’re unsure of whether you’d like to buy or lease your next property, you may just need additional information about sales and commercial property leasing in Calgary to help you come to a sound conclusion.
While real estate agents work with clients on finding (and selling them) the right property, mortgage agents work to find them deals in regards to financing said property. Mortgage agents work to find their clients the most favourable mortgage terms as well as the best interest rates for their commercial properties. Here are some other duties that are part of the mortgage agent itinerary:
With one of the job requirements of a mortgage agent being to find their clients the best options for loans, they must be knowledgeable of lending rates, lending organizations, as well as terms and conditions. For this reason, being acquainted with the standards for creditworthiness are crucial for mortgage agents. Typically, mortgage agents tend to have experience in sales, marketing, as well as finance. They must have a broker’s licence, which is issued by governing bodies within the real estate industry — the qualifications for the licensing will vary from province to province.
Both real estate agents and mortgage brokers help clients manage their properties when it comes to buying, selling, or financing. However, real estate agents help guide their clients through the buying (or selling) process. And mortgage agents work on behalf of their clients to get them the most favorable interest rates and best financing options.
The material presented in this blog is provided for general information and educational purposes only. It is not a substitute for professional advice. All information is subject to change regularly and without notice. CMS Real Estate Ltd. assumes no responsibility for any errors in the information provided, nor assumes any liability for damages incurred as a consequence, directly or indirectly, of the use and application of any of the contents of the blog/website page.
Securing financing for commercial real estate projects can be a complex process, especially when dealing with the specific regulations in Canada. Understanding and adhering to these regulations is crucial to increase your chances of approval. In this article, we will explore key steps and considerations to help you navigate Canadian regulations and successfully obtain financing […]
For four decades, CMS Real Estate has been an integral part of Calgary’s commercial and industrial real estate landscape, providing exceptional services and forging lasting relationships within the community. CMS Real Estate was founded in 1983 when Gerry Macdonald and Tim Casey left a prominent industrial and commercial real estate firm to embark on their […]
Calgary is a major economic hub in western Canada. In recent years, Calgary’s real estate market has been impacted by the decrease in demand for office space in the downtown core. However, the city’s economy has been showing signs of recovery, and the demand for commercial and industrial real estate and commercial property sales are […]
It’s no secret that higher interest rates, inflation, and a competitive market have changed the commercial real estate landscape over the last two years. The rapid increase in rates combined with labour shortages have led to a spike in operational costs and have made owning and renting property more expensive. While we have very little […]
At CMS Real Estate, Owner and President Gerry Macdonald is a Certified Commercial Investment Member (CCIM), an industry-standard that places members as some of the most advanced commercial real estate investment specialists anywhere. Fewer than 10% of commercial real estate investors and advisors hold the CCIM distinction, making it a valuable and noble acronym to […]
According to the Canadian Condominium Institute (CCI), Condominium Corporations are able to seek recovery of the deductible portion from an Owner for damages that originates from the Owner’s unit or privacy area, up to a maximum of $50,000 and regardless of proven negligence. This major change has been in effect since January 1, 2020. What […]
© Copyright 2023 CMS Real Estate Ltd.