Updated on December 14, 2017
Updated on December 14, 2017
Perhaps one of the most fulfilling financial events in a person’s life is to own a house or a real investment property. Because buying big investments such as a house or any real property is complex and meticulous process, people would usually resort to professionals who are knowledgeable in this area.
Real Estate Agents: Who They Are and What They Do
Real estate agents are professionals who have comprehensive knowledge about real estate industry. They can give you different real property choices that will best fit the requirements and budget of their client. They also have knowledge about local zoning and tax laws. In general, real estate agents serve as mediators between the seller and the buyer.
A real estate agent is an independent sales professional who renders his or her sales services to a licensed broker, by which the latter will pay the agent a parcel of the commission he/she receives from the sales of the property. There are also instances when the real estate agent takes the prime responsibility in closing deals.
Real estate agents do research on properties that are for sale and the contact numbers of the people selling the properties. When they list a property on sale, they usually compare the property to similar properties that were already sold so they can determine the supposed market price of the property. Most often, real estate agents sell residential properties, while a small percentage of these agents especially those working in companies, sell other types of real estate properties such as commercial, industrial and/or agricultural. For every type of real property, the real estate agent should have the knowledge on that specific property as well as good understanding on other components that may affect the saleability of the property.
Before real estate agents show the property they are selling, they do some meet-ups first with their potential client. This is for them to know the requirements and qualities the client would like to have for a real property. During this time also, the agent will also assess how much the client is willing to pay for the property. Agents also take advantage of the new-age technology these days because most them use computers or even touchscreen devices to give their clients a virtual of the properties they are selling. The virtual tour features the interior and exterior images of the real property including the floor plans. During the meet-up, agents usually have their clients sign up a loyalty contract with them to ensure that the client will no longer look for another agent to show them real properties on sale.
After the first encounter, the buyer and the agent will usually meet up several times to visit the lined-up properties that are for sale. The properties they show to their clients, as said earlier, is in congruent with the needs, particulars and budget of the buyer. Once an agreement has been met, both parties will now sign the contract.
During the stage of finalizing and signing of contract, the agent is responsible for achieving the required terms and agreements they had discussed with the client and must be clearly stipulated in the contract – all of which must be done before the closing date.