If you’re planning to buy or sell a property, odds are you’ll wind up working with a
real estate agent. These licensed professionals are experts at helping people
navigate real estate transactions and achieve their home ownership dreams. It’s a
big job that takes many different skills and forms, depending on whether an agent is
representing buyers or sellers.
- Finding Clients
It’s no secret that a real estate agent’s primary duties involve finding clients. For
residential agents, that could mean cultivating leads among their sphere of
influence, which includes family, friends, neighbors, coworkers and other
acquaintances. Some agents also spend time networking, attending industry events
and hosting open houses to attract potential clients.
- Keeping Up With The Market
Real estate agents often keep track of local market trends and property values, as
well as changes to regulations and procedures. This research helps them advise
their clients on the best course of action when it comes to buying or selling a
property. In addition, some agents may pursue real estate certifications and
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- Showing Properties
As part of their job, real estate agents must spend a good deal of their time showing
properties to prospective clients. This can include scheduling appointments, driving
clients to properties and answering questions about each one. If a real estate agent
is representing a seller, they may also help them prepare a property for sale by
providing tips on staging and making repairs or improvements.
- Negotiating Offers
Whether they’re representing a buyer or seller, real estate agents spend much of
their time negotiating offers. They’ll work to get the highest price for a seller while
ensuring that a buyer gets a fair deal on a home or investment property. A good real
estate agent will be able to help their clients remain calm and make rational
decisions during negotiations.
- Closing The Sale
As a real estate agent closes the sale of a property, they’ll ensure that all parties
involved in the transaction follow through on their obligations under the contract.
For example, they’ll review the final inspection report and ensure that any
outstanding issues are addressed prior to closing escrow. They’ll also work with the
lender and title company to ensure a smooth, timely and cost-effective closing.
- Administrative Tasks
While these tasks aren’t as fun as interacting with clients, they’re vital to an agent’s
success. They may include things like managing and maintaining client databases,
preparing marketing materials, compiling data and statistics on the housing market,
and processing paperwork related to property sales. Agents who specialize in
commercial real estate have additional responsibilities related to commercial leases
- Communication With All Parties
Real estate agents must communicate with the clients they’re representing, as well
as other parties involved in the real estate transaction. This includes the other
agent’s or seller’s broker, mortgage brokers, lenders and even attorneys.
If they’re representing a buyer, a real estate agent will likely have worked with
multiple mortgage lenders in the past and can recommend good ones to assist their
clients. They’ll also be familiar with what it takes to get preapproved for a mortgage,
so they can help their clients understand the mortgage process and provide them
with guidance and advice.