If you are looking to buy or sell land and property, then the easiest way to do it is by contacting a real estate agent. The real estate agent is an intermediary who connects property buyers and sellers and helps to close a transaction. In the USA, a real estate agent needs to work under a real estate broker to carry out transactions. Most countries have laws that regulate the functioning of real estate agents.
The main job of a real estate agent involves selling. He needs to help buyers find the property of their choice and help them complete the transaction. He also helps sellers find a buyer who is interested in purchasing their property. In return for facilitating the transaction between buyers and sellers, the agent gets a commission from either the seller, buyer, or from both.
A real estate agent needs to do a number of activities to complete a transaction.
- List properties for sale
A real estate agent in the US can use a listing service to list properties of clients for sale. This will help potential buyers get details of the property. Listing services may be commonly managed or there may be different listing services maintained by many agencies. Apart from using listing services, the real estate agent may also advertise properties for sale. Advertisements may be placed in newspapers and magazines. There are many websites that list properties for sale. These may be used to place advertisements.
- Work with Buyers and sellers
The real estate agent needs to find property buyers and sellers. He can do this by marketing his services through print ads, online promotion, and through social media. Most agents have business contacts and past customers who would refer clients to them. The agent needs to understand the requirements of the client clearly and help them find a buyer/seller. For properties being sold, the agent needs to first visit the property and learn more about it.
- Show properties
Buyers need to be shown properties that meet their requirement. The agent needs to take the buyer to different properties until he finds one that suits his needs. This is one of the main activities done by a real estate agent.
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- Help in negotiations
The agent brings together buyers and sellers. He may facilitate a meeting at his office or elsewhere. He can help his client in the negotiation process. The objective would be to get the best possible deal for the client.
- Carry out paperwork
In most places, the agent will assist in paperwork for closing the transaction. This includes preparing a contract, examining documents like title suit,insurance, etc. For this purpose, the agent may need to work with a lawyer. Any other documents required by local laws need to be prepared before completing the transaction.
Selling is what a real estate agent has to do to earn money. Follow-up is one of the major activities in selling. Once initial contact with a client is made, continuous follow-up is needed to convince the client to complete the process. The agent can make money only when a transaction is completed. Hence, maximum time and effort is needed for follow-up with clients.