A common misconception surrounding the world of real estate that a surprisingly high number of individuals tend to have is that they assume that a single real estate agent will be responsible for the whole deal. The real estate industry is truly massive, and no single person would be connected enough to find a buyer every single time once all has been said and is now out of the way. The reason behind this is that there are far too many houses and far too many needs in each home buyer, and in order to facilitate this many realtors participate in what is referred to as a co-op.
The way that this works is that a realtor that has been hired to sell a home might consult other members of this co-op. There is a strong likelihood that someone or the other within that co-op would have a buyer lined up for them, thereby making it easier for both of them to do business than might have been the case otherwise. Prime Agents are leading real estate agents that often don’t need to use co-ops because of their broad networks, but many realtors don’t have the same level of connections as they do and they rely on this process to earn a decent amount of income.
Co-ops are a really amazing example of members of the same industry helping each other out as much as they can. There are a lot of other examples that we can think of as well, but this is the best one if you want to obtain a better understanding of real estate and how it ends up being bought or sold.