Real Estate Agent Job Description

Real estate agents liaise between home owners and buyers to conduct the sale, purchase or rent of properties. They work for brokers and play a major role in assisting people buy or sell residential, commercial or industrial property. They keep and maintain an up-to-date account of property listing and other relevant housing information to stay abreast with properties available on the real estate market. They subscribe to several listing services to advertise and market properties up for sale. They also contact property and market properties up for sale. They also contact property owners to obtain information regarding a property.

As part of their responsibilities, estate agents present sales and purchase offers to clients for consideration. They advise them on property rates, legal requirements and general market trend. They also interview clients to determine their property preference or specification. Usually, they prepare a list of properties that best match the needs and requirements of clients. They visit and inspect properties in order to establish precise property value. They also proffer recommendations to clients on properties that best suit their budget and preference.

Most estate agents oversee the preparation of closing statements, purchase agreements, representation contracts and other necessary documents required for estate trade. They conduct negotiations between property sellers and buyers to establish price and other terms of sales. They also liaise with pest control operators, home inspectors etc. to ensure the terms and conditions stated in a purchase agreement are met prior to the closing of sales.

In fulfilling their role, real estate agents oversee the closing of property sales, they ensure payment is complete and appropriate documents signed. They maintain contact with clients to offer them real estate services/products and assist with the resolution of issues. They also provide consultation services to clients to recommend strategies for the speedy sale of property. They often conduct training programs for junior/trainee sales agents to enhance their sales skill. This job position requires at least a high school diploma, state license for practice and an aptitude for sales. Qualities needed for the job include persuasion, interpersonal skills and problem-solving skills.

Real Estate Agent Job Description Sample

Given below is a sample of the job description usually handed real estate agents by most employers:

  • Act as liaisons to conduct real estate trade between property buyers and sellers
  • Present sales offers to clients as well as bid on available properties
  • Carry out investigations to determine client credit status and ability to complete payment
  • Inspect properties to appraise its value and estimate the worth on the property market
  • Interact with clients to identify their requirements and proffer recommendations on properties that best suit their budgets
  • Assist home sellers in promoting their buildings on property listing services to attract clients for purchase
  • Prepare and deliver sales pitches to clients in order to secure real estate contract
  • Provide clients with a list of properties available for sale to assist them in making choice selection
  • Conduct price negotiations between property buyers and sellers to ensure a fair bargain for both parties
  • Provide clients with a tour of residential, industrial or commercial properties to showcase and explain property features
  • Carry out investigations to confirm clients have clear property titles
  • Provide appropriate reply to client’s enquiries concerning property appraisals, financing, maintenance etc.
  • Examine property premises to recommend maintenance measure required to improve the face value
  • Assist clients in evaluating mortgage options to obtain the best rate and terms
  • Attend conventions, conferences and seminars to improve existing job knowledge and expand personal network.

If you are a recruiter needing the best real estate agent to hire, you can use the sample job description above in making one for your company, for use in hiring and assigning duties to the successful candidates.

How Can a Good Real Estate Agent Help?

Consider the option of going ahead with a real estate agent because he helps the buyer or the seller of the property in more ways than one. Key responsibilities of a good agent make the entire process smooth, transparent, and easy for clients. However, this proposition is fraught with risk because finding a good agent is often a momentous task. This should not discourage home buyers and property sellers from hiring a good real estate agent as he alone can make things hassle-free for you. Therefore, your focus should be to look for an agent instead of searching for properties listed on various sites. Once you have roped in a verified and accredited agent to work on your behalf, the process of buying or renting or selling a home becomes much easier for you.

Local market knowledge

Equipped with local real estate market knowledge, he provides information of relevant properties available in the area. He studies the options that suit your budget and forwards the shortlisted options to you. This saves your valuable time and money. If you are interested, he shows you the properties. He is familiar with the area you would like to live in and offers accurate information about local infrastructure, school systems, water and sewer charges, public transportation and other concerns that impact your decision to rent or buy a home.

Negotiation

He takes care of the tedious process of negotiating the best deal for you. With skill and expertise, he knows the trends prevailing within the local property market and the competitive prices for various properties. You can bank on him to ensure the best deal and save your hard-money. His commission is also negotiable in most of the cases, depending on the level of involvement and effort put in.

Representation

He acts as your representative throughout the entire buying or selling process and therefore you need a reliable person you can fully trust in matters of right price and the suitable property features you need. He follows your instructions, works tirelessly to minimise your daily involvement in the matter of sale or purchase and seeks your presence only when it is unavoidable – to screen the best options for closing the deal.

Legal assistance

His knowledge about local laws related to the buying and selling of property helps you avoid legal issues. It ensures a smooth deal without any potential conflicts. A legally binding contract is drawn up and he helps you with all the paperwork, referring you to the appropriate professionals for dealing with all the legal matters.

Network

As his up to date with current trends, he nurtures contacts and the professional network to flourish his business. This enables him to be aware of a wide range of available property in the area and suggest options to clients with the help of fellow professionals. Not having an intermediary will deprive you of this big advantage. There is a limit to searching properties online or seeking references through your contacts, but if you have an agent, then there is no limit to the options he can suggest with ease. Most of his suggestions come pretty close to what you look for.

Exposure

Having him on board ensures maximum exposure for your property. Years of experience built an exhaustive database of potential customers and he refers your listing or requirement to generate leads. Gives sound advice on the market value component to price it realistically so that it is sold faster. He provides a visual presentation of your property and suggestions to enhance its marketability and coordinates marketing and advertising of your property on various platforms. Besides, the previews and arranges a walk through each potential home, to show properties that match your requirements and answers all your queries at various stages of the engagement to keep you updated of the progress achieved and ensure your satisfaction.

Real Estate Agent Goals – Key Goals for Real Estate Beginners

When you first start out as a real estate agent it is important to set yourself some goals so that you have something to shoot towards while you work. Of course, expecting to sell every property under the sun is a tad unrealistic, so you need to ensure that the goals you set yourself are achievable, while still providing a good challenge for you to dig your teeth into.

Your key goals should be based around selling properties and trying to achieve higher rates with each sale. Let’s take a look at some good goals to start with, which will provide you with a foundation to build on.

Five Properties In A Year

When you first start out you won’t have the advantage that experience brings in terms of reputation, which means you will find your client list to be fairly small. Furthermore, if you work as part of an agency, you are going to find that you get stuck with some of the less desirable properties, while the best go to the people who have proven themselves in the industry.

This doesn’t mean that you should get discouraged and fail to put the work in. Set yourself a target of selling five properties entirely by yourself during the course of your first year. Take the time to identify strengths and weaknesses of each property you work with and experiment with ways to turn this to your advantage and attract buyer attention. With that base, you can then increase the goal by a few properties every year, until people start to take notice.

Go For The Average

Through your research you should be able to discover the average price that a property like the one you are dealing with sells at. This should be your target in your early years. Many novice real estate agents panic when they sell a property at slightly below market value, but this is to be expected when you are first starting out.

The important thing is that you take the experience from these early sales and apply it to your newer ones. Your goal should be to reach the average selling price within two years, to demonstrate that you are learning and your experiences are showing you what it is that customers want from a house.

Understand What You Want

The real estate industry can take up your entire life if you are not careful, so it is important to understand exactly what it is that you want from the industry and construct your goals around that. For many people, this means earning a certain amount of money. If that sounds like you, set out a long-term plan with milestones for each year, with the goal being to earn the amount of money you set out to earn for that year.

Others may wish to ensure they maintain a proper work and life balance, and must set their goals accordingly. Simply put, you should know what you want before you set any goals for yourself.

How to Find the Right Real Estate Broker

Buying a property is a cumbersome process involving multiple steps. You need professional help to make it easy. In order to achieve success in this objective, you have to find a certified property agent who makes the entire process smooth, without any glitches or delays. As this profession has no screening method to allow entry to upright brokers only, any person can become a broker. Therefore, it is a challenge to get the right agent. Certain measures are important in this regard – to be safe rather than regret later.

What you can do is to select the area in which you plan to buy a property and then ask local contacts to recommend a broker without any sullied record. The initial filter works well as you are likely to get some recommendations. The next step involves seeking verified brokers. Some progressive states in different locations require property agents to register themselves with the government. Only those verified can operate legally. Now with strict regulations in the real estate sector coming into force, you can look for a property portal that allows only certified agents to operate. Sign up with a verified agent for your real estate needs and stay away from shady operators.

Services

Is the agent right if he just fixes the deal, takes his commission and goes his way? Absolutely not. You are not looking for an agent who is a professional only in money matters. Your search for the right agent is over when you find an agent who is willing to perform all his duties as a professional and give you complete peace of mind. The real estate agent must prepare a shortlist of suitable properties and show you the ones matching your specifications. Once you have chosen a property, the stage of price negotiation between the buyer and the seller should be handled carefully as many good deals fall apart because of lack of patience and extra effort which the agent is required to put in.

The agent should do homework about the property records. He should introduce you to a good lawyer who authenticates the documents. As you are busy with your work, you do not get time to visit the registrar offices for searching records, to establish whether the seller is the actual owner or there are other undisclosed co-owners. Preparing the schedule of payment and agreement papers is also the job of the agent. He should structure the deal in such a way that the client is not cheated. That is why it is said that finding the right agent is a tough task. But it is not impossible. You need to plan it carefully and conduct initial checks. If you do not remain wise in selecting the agent, you are likely to encounter serious problems later.

Unscrupulous Agents

As there are many shady dealers operating in the market, you run the risk of being cheated in several ways. He could make you buy a disputed property or a one enmeshed in litigation despite knowing the reality. Also, he could make you invest in a project likely to be delayed or buy from a developer who lacks the financial capacity to complete the project. An agent should not charge you more than the fixed commission.

A buyer should be aware of certain aspects of the property market and familiar with the tricks of agents. To get more relief, he should find out if there is an online portal where only certified agents are allowed to operate. Then, at least he knows right from the beginning that he is looking at the genuine players and he is going to select a top-rated agent with good reviews on the portal.

Spot the Fraud Real Estate Agent

Dubious real estate agents are mushrooming all over the country and tarnishing the image of real estate professionals who operate with honesty. Instead of calling them all crooked, one needs to identify the genuine, verified players. The task becomes easier if you identify the fraudulent property agents and their scheming ways.

Take undue advantage over the client,decamp with his deposit money,furnish incorrect facts or omit the truth to swing the decision-making process. Manipulate prices to derive excessive profit. A fraudulent agent is prone to indulge in all these.

As clients tend to blindly trust the words of the agent, they never cross-check. When the unfortunate incident occurs, they begin to regret. Watch out for the common symptoms that raise suspicion regarding agents trying to dupe clients.

Fake documents, double mortgage chances, a general power of attorney used to sell to different persons, government land, encroachments, and dubious agreements, are some common ways of cheating clients. Verify each and every aspect and take an informed decision.

Persuasive pitch

Brokers depend on persuasion. They cite an increase in the value of other properties in the locality to create a fear of price rise. They want you to panic and take a quick decision. If your real estate agent adopts this strategy, you have a valid reason to suspect his motive.

If the agent prefers upcoming projects, remember it is mere speculation. Maybe the builder has not even registered the land where he is supposed to construct.

You can get an estimate of prices from property portals and newspaper listings. Contact multiple top-rated brokers or approach a person who has recently purchased a similar property in the locality and seek valuable information before you believe the agent.

Quality check

Real estate agents never disclose the quality of construction. Two similar properties in a locality are in the same price range but one project offers better construction quality and amenities. Visit the site to check the tall claims made by the property agent. Consider yourself lucky that the fraud real estate agent has been exposed at the right time if you find he has hyped it for you.

Distance sale

The dependence on the property agent is higher when buyers and sellers live in different geographic locations and they rely on the intermediary. Deals are closed on the basis of what the agent insists, as the parties do not get to meet in person. It is better to insist on meeting the other party before finalising the deal. If the agent wants to close the deal without the buyer and the seller getting to know each other, something is fishy in the case.

Transparent fees

Real estate agents get a commission based on the value of the deal. You should ask the fee the agent is getting from the other party. If you do not get a clear answer, take it as a warning signal. If he tries to avoid this query, you should become alert. A real estate agent should have no hesitation to answer this clearly as it generates mutual trust. When he knows the real value of the deal, he should reveal the commission he is getting from it.

Online ads

Real estate websites carry misleading listings by agents. Agents often use wrong photos, false specifications, and low prices to grab attention and generate leads. When buyers contact the agent, they are informed that the listed property is unavailable and they can choose from other properties.

Key information

In case your real estate agent is not making full disclosures or not quoting the best price, it is safer to get rid of him. There should be no nasty surprises reserved for the final stage.

Brokers are indispensable in the real estate sector. But you have to be on your guard all the time. He should give a realistic assessment of the market using best professional judgment and ensure that the clients do not suffer any loss on account of their neglect.