What are the functions of a real estate agent?

What are the functions of a real estate agent?

October 1, 2020 Off By Joan Padilla

In each sector it is necessary to have professionals who know how to do their job well and fulfill their responsibilities. In the case of the real estate world, the main actors, in addition to the owners and the real estate, are the real estate agents, but what are the functions of a real estate agent ? Why is it so important to have the services of these professionals ? , but above all, what do they do and what do they do?

Today we are going to answer all these questions and many more. And it is that without the agents, real estate agent work would be chaos. Therefore, the first thing is to define what is a real estate agent and what is not.

What is a real estate agent?

Real Estate Agent
Young couple showing key from new house

real estate agent is a person who is dedicated to the sale of properties, visits them and teaches future buyers, takes care of the purchase-sale paperwork, evaluates the situation of the real estate market, agrees on the conditions with the owners, and of course, He acts as a real estate manager and advisor.

In their day-to-day life, a real estate agent can play different roles and cover responsibilities in different areas such as the commercial sector (sales, marketing, and recruitment), legal advice, and management (bureaucracy, paperwork, and contracts), and finally that of professional who studies the market.

That is, it is usually an all-terrain vehicle, which touches different parts of the real estate world. The best real estate agent is not the one who knows everything, but who knows how to take advantage of his best virtues and stands out from the rest of his colleagues.

For example, if the commercial agent has a great commercial spirit and is good at dealing with clients, he can take advantage of this advantage to spend more time on this task and leave the procedures in the hands of his colleagues. The point is to know its virtues, enhance them, and take advantage of them.

Duties of a real estate agent, how is your day to day?

Real Estate Agent

It is clear that the functions of a real estate agent vary from one agency to another, and even from one city to another. And it is not the same to work in a big city where there is a lot of competition and a property market than in a municipality with a smaller or seasonal market, as happens in the summer in places near the coast.

Obviously, the work is not the same in a large agency as in a small one, but agents usually perform the same functions, what varies is the amount or number of hours that they dedicate to each one.

Administrative functions

A real estate agent has more paperwork to cover than an authorized agent, hehe. And it is that although it seems a lie, many times you have to take care of tasks such as drafting the purchase-sale contracts, dealing with the notary’s office and legal representatives, knowing the rights and obligations of the owners, and much more.

As if that were not enough, you must know the rules of the market game and know what are the laws that affect each municipality, the leasing regulations. In short, knowing what is allowed and legal and what is not.

Having knowledge of all these issues is not only necessary but you must put them on paper when drafting contracts with clients, or when making an offer, requesting a budget and so on. And it is that, although it may not seem like it, the bureaucracy and paperwork is enough to have an agent sitting working all his working day.

Business tasks

Fortunately, real estate agents have a more fun part than the administrative topic, we refer to the commercial functions, that is, the pure and simple sale. This part is usually the favorite of many agents since we say here a large part of their work, their salary and their reputation are at stake.

The commercial tasks of an agent cover many issues, from dealing with clients when managing the price of the property, to the marketing part, that is, showing the apartment in person, or putting it up for sale on platforms and bases of data.

In addition to all the above, they have to be vigilant and look for new clients with whom to get new contracts. This, perhaps, is the heaviest function in terms of time and effort, but it is certainly worth investing time in this part to always have a portfolio of clients.

Negotiation tasks

The most decisive part and where an agent plays all his cards is in the negotiation process, that is when signing the sale. But to get here you need previous work, sometimes many hours, calls and visits, that is, tact and negotiation to achieve the final result, a sale.

Negotiating a home is possibly the one in which an agent spends the least hours directly, possibly around 20 or 30%. However, all the responsibilities and tasks of an agent lead directly or indirectly to the crucial point, the sale.

Precisely for this reason, the negotiation functions are the most specific and where an agent must stand out. In short, the best agents are those who excel at negotiating.

For this they must be good connoisseurs of people, know how to define and qualify a real estate client,  and of course, know how to use all the weapons in their favor to promote a home such as real estate telemarketing or through real estate leads.

Finally, add that to negotiate it is necessary to know the needs of potential clients and excel in the art of empathizing with the client. Knowing people and knowing how to put yourself in their shoes is essential in negotiation efforts.

Requirements of a real estate agent

However, we must know that in Australia the work of real estate agents has a lot of intrusiveness since it does not require an official title or license.

Despite this, it is necessary to meet a series of requirements and have certain skills to exercise in the brick world such as empathy, stand out as a commercial, have a good relationship with the client, know how to listen, be patient, professional, and a good researcher.

If you want to dedicate yourself to the world of housing and want to act as an agent, you already know what you have to do. 

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