An estate agent is a licensed person to negotiate and manage estate sales. He or she works for an estate broker. Negotiating and arranging can include showing of property, listing of property, filling in contract, listing agreement, and purchase contract. Estate agents are generally licensed to work under the control of estate brokers. Hiring a professional for buying or selling your property can be very beneficial for you as he has the required knowledge and experience.
Helping clients with contracts, inspections, closing processes and negotiations are a big part of their job. Continuous education to keep updates with the market and laws is a great part of life of an estate agent. The only trick for a successful purchase of a new property or selling of an old one, is finding the right estate agent.
General Responsibilities of an Estate Agent
A good agent keeps up always with market activities:
Most estate agents start a day by finding out the earlier day’s market activities. This usually is on an online or downloaded “hot sheet” report. This tells them new listings, what sold, price changes and other activities in their markets.
Agents are Buffers
Estate agents take the whole spam out of the property showings and visit. If you’re the buyer of new home, your agent can whip out his sword and keep builder’s agent at bay, avoiding them from nipping or biting at your heels. And if you are a seller, then your agent will sort all the phone calls that result in nowhere and try to encourage serious buyers to write an offer immediately.
There usually are some closing transaction things to take proper care of:
If doing deals of estates, there are many action items, deliveries and deadlines involved. An agent spends time every day in getting the paperwork to right places, explaining contracts to clients, reviewing documents and coordinating inspections, etc.
Working with buyer clients and prospects:
Working with buyer customers isn’t simply driving them around to look at homes or properties. There’s a big deal of preparation, which is involved in finding suitable properties, determining their needs, and gathering the information to assist your buyer customers to make decision.
Getting, servicing and keeping listings:
Listings always have been the butter and bread of the estate business. To cater sellers an estate agent should possess outstanding marketing skills, market knowledge, negotiation ability and etc.
Preparing the legal documents like sales contracts and listing is done by agents. However, broker is liable for that and should review the documents.
Handling Volume of Paperwork
A one-page deposit receipt was prevalent in the 1970s. Today’s the purchase agreement runs into 10 pages or even more. That includes neither the state- and federal- mandated disclosures nor the disclosures dictated by the local custom. Most of the estate files have an average thickness of one to three inchs of paper. One omission or small mistake could cost you thousands or land you in the court. Generally, your estate agent will handle this to make it simple for you.