Generally speaking, a real estate agent's job revolves around selling vacant plots or plots with finished or unfinished structures. Let's delve into the intricacies of the job. There's more to it than meets the eye.
It is the role of the real estate agent to gauge the market value of the property. The agent must conduct a thorough market analysis to be able to come up with a list price that is appealing to both the seller and buyer; hence, being knowledgeable in the current market trends and practices is essential in determining a fair market price.
When it comes to marketing, the real estate agent must be in-the-knowing. The agent must maximize all possible marketing outlets, both offline and online, to advertise the property because it exponentially increases the agent's chances of selling the property. Besides having an ever-growing list of sellable properties, it is part of an agent's arsenal to have an ever-expanding list of potential buyers. Being able to have numerous buyers interested in one property ensures a concrete sale. At times, a bidding war arises due to the high salability of the advertised property that results in a heftier sale commission.
It is not enough to know the basics of the property you are selling. The agent must know the community where the property is situated. The decision to buy does not solely rely on the physical aspects of the property. At times, the decision heavily weighs on the community catered. Families would opt to live in tight-knit communities that have easy access to schools, kid-friendly recreation centers, grocers, and so on. Single professionals would opt to stay in areas that are upbeat and ever-changing since this allows them to interact with like-minded individuals. People with recluse personalities would want to reside in serene, remote communities.
In the eventuality that an agent finds an interested buyer for the property, the real estate agent must shift gears from being a marketer to a negotiator. It is the agent's job to ensure that both the seller and buyer are happy with the purchasing agreement. More often than not, the wants and qualms of the seller are different from that of the buyer. The agent must mediate the counter-offers until both parties are pleased with the terms. Once both parties have mutually agreed on the purchase terms, the agent must finalize all the paperwork and tasks involved in the transfer of property ownership.
Overall Property Adviser
Selling and buying property is not an easy feat. It is a multi-step process that needs the aid of an abreast individual to simplify the process. The real estate agent must be able to answer all questions regarding property sale and ownership. Questions like market conditions, house inspections, mortgages, insurance, and so on need to be addressed by the agent. The agent must also properly guide both the seller and buyer with all legalities involved to avoid any violation of the law.