What does a Real Estate Agent do?
Real Estate Agents work directly with their customers as well as other agents and brokers. Their success is dependent on how they perform, and many earn their salary based on a commission model.
Real Estate Agents are involved in the whole transaction of a property from the beginning to the end. They act as representatives for both buyers and sellers, and their roles and responsibilities will vary depending on their transaction.
Roles and responsibilities of a Real Estate Agent
- Acting as an intermediary between buyers and sellers of a property.
- Receiving sales offers from owners of lands or property.
- Inspecting and appraising the state of the property, often liaising with a Real Estate Appraiser.
- Determining the value of the land and negotiating a price with the seller, using previous sales of similar properties as references.
- Providing buyers with a preliminary contract establishing fees.
- Promoting property sales via advertisements, open house showings, and liaising with the general public.
- Receiving and interviewing possible buyers to determine the type of property they need (e.g., residential, industrial, commercial, or farming properties).
- Presenting potential buyers with a list of properties that may suit their needs and arranging accompanied visits.
- Showing properties on sale to prospective buyers and explaining to them all the details and characteristics of the property.
- Receiving buying offers and negotiating amounts with buyers and sellers until they later decide on a price.
- Drafting and preparing all the necessary paperwork to formalize a purchase.
- Assisting buyers in documenting the deeds of property, applying for mortgages, and understanding leasing contracts.
- Running credit and background checks on potential buyers in accordance with applicable laws and regulations.
- Providing buyers and sellers with the finalized contracts
- Charging home buyers the pre-established fee for their services.
- Adhering to full disclosure laws and regulations regarding property sales (e.g., informing buyers of any extraordinary or unusual events that may have taken place in the property).
- Doing agency related paperwork:
- Preparing reports on sales and goals achieved.
- Keeping records of current and past clients.
- Submitting regular reports on activities, showings, property appraisals, and open houses.
- Keeping records of all sales, including buyer information, closing price, and commissions.
Real estate agent helps people's clients sell & buy properties.
They advise clients about market conditions, conduct walk-through and provide guidance and assistance through the process of buying, selling, or leasing properties.
Real estates main objective is to sell other people's homes for them with of course an appropriate % for each sale and extra money for stuff like selling the home before the due date or selling it way underneath market value
A real estate agent is someone who sells houses and they take comission