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What does a real estate agent do?

Posted by Balaji on March 25, 2021
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What is a Real Estate Agent?

A real estate agent is someone who helps people to buy or sell a home or any

property. This may range from plots, Independent homes to apartments and luxury

villas. One can work either as a listing agent, to assist a client in selling a home, or as

a buyer’s agent to assist a client in purchasing a home. Real estate agents are

employed worldwide as the need for buying and selling property and homes has always

existed and will continue to do so.

 

What does a Real Estate Agent do?

Real estate agents have knowledge about their local laws on buying and selling

property. The local area that an agent works in is their area of expertise. They are

aware of current market trends as well as competitive pricing for the different

properties their clients wish to purchase or sell.

A real estate agent acts as a broker or middleman, between two parties seeking to buy

or sell a property. Real estate agents have the skills and expertise to either market a

property or sell it for the best price and conditions or to find a property that fits a

client’s needs and buy it for the best price.

Since real estate agents work as an intermediary between buyer and seller and often

negotiate on their clients’ behalf, negotiation is an integral part of their work. As a

charge for their work, real estate brokers can take a percentage of the final sale price.

Do we need Real estate agents?

Many people wonder, “Why should we employ a real estate agent?” because there is so

much information readily available online. They believe that they would be able to

purchase or sell a home without using a real estate agent if they used the Internet or

conventional marketing and advertisement platforms.

However, it is not easy. A few may succeed, but the vast majority of the people are

likely to fail or make a wrong deal.

Please consider the following points:-

Lack of buying and selling knowledge: You don’t know everything about buying

and selling real estate. However, the real estate agents know. A lot of documents are

required. Verification of documents has to be done. There may be unknown legal

factors. Hence it is preferable to hire a local agent. Only thing is that you should be

able to find the right real estate agency. For the most part, they all cost roughly the

same. Why not hire a person with more knowledge and experience than you?

Lack of time: You cannot waste your time in house showings and visits. Agents can do

it for you. They can also able to identify serious customers & shortlist them. You’ve got

a lot of other things to do. We can get that time by hiring an agent.

Neighborhood Knowledge: Agents are likely to possess vast knowledge about the

locality of the estate which you intend to buy. They can identify average prices and

present these details to you. In addition, they will also give you information about

Gardens, schools, Hospitals available in the surrounding area. They will give you

information about price growth in the locality and other demographic information.

Answer Questions after Closing: Even after the completion of the deal crucial

questions can arise from government authorities like property tax assessments,

income tax clearances, and so on! Your agent can assist you in such cases even after

the completion of the deal. He may have previous experience with all of this, and he

will guide you smoothly out of the situation.

Other than the above points they will do Price negotiation, Documents handling,

Market Information & give prior guidance about purchasing a property. Considering all

the above benefits it is always better to hire a real estate agent for real estate deals.

Workplace of a Real Estate Agent?

The workplace of a real estate agent is as diverse as the properties they buy and sell,

as well as the clients they represent. Although some of the time is spent in an office

environment, the real estate agent’s job involves a great deal of commuting and odd

hours. The agent would be required to visit properties and attend meetings with new

and existing customers. To meet the needs of clients, this may happen during the day,

evenings, and weekends.

In addition, the real estate agent attends business conferences and seminars to keep

up with new trends and to maintain their contacts and professional network. They

must also keep up with all of the available properties in the city, therefore going to

open houses every week is essential in order to keep as current as possible.

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