Although the simple answer is “buy and sell properties”, according to TrueNest Management experts, there are many more components to the job of a real estate agent. Without buyers and sellers, there would be no real estate transactions. The problem is that buyers and sellers need to discover each other and that is a real estate agent’s primary function – connecting the buyer with the seller.
Generate Listings
A Real Estate Agency will seek out properties for sale and list them on their website or market them with signs and boards to let any potential buyer know that the property is on the market. The agent should maximise that listing so that sellers will approach them with properties to sell with the knowledge that they have the contacts and the network best leveraged to sell their property. An agent will keep track of contact information and follow up listings with phone calls and emails to keep listings up-to-date.
Working With Sellers
Buying a property is a big investment and selling an investment opportunity. Real estate agents not only connect the buyer with the seller. They help handle the legal transfer of deeds so that the seller has no nasty surprises after closing. Selling agents also help set the price of the property, take digital photos and market the property on listing sites and on their website. Real estate agents typically represent one side of the transaction: working with either sellers or buyers. Seller’s agents or listing agents are tasked with helping the selling client find a willing buyer who has the financial means to complete the sale. This means vetting potential buyers to find the right investor.
Working With Buyers
Real Estate Agents who work with buyers find properties that match their client’s requirements and price range. A buyer’s agent will receive telephone and email inquiries and make a note of the specifications of the buyer’s ideal property. They will provide lists and photos of properties that might suit the buyer and once they have showed interest will help them place an offer. The agent will also help with dealing with the department of land transfer and oversee legal work involved in the purchase of a property.
Real estate agents work for both sellers and buyers and may offer tax advice for both sides. As designated brokers, real estate agents typically operate out of an office with other real estate agents and brokers who work on a salary and commission for each deal. Agents under the same brokerage share new listings and update each other on changes to listings and status of sales
In Summary
Real estate agents divide their time between administrative duties and generating income for the brokerage. In some cases, a real estate agent might work independently. In general, agents spend time at the office, meeting with clients, showing homes, and negotiating sales, allowing the buyers to concentrate on moving home.
