Services in the real estate market remain quite in demand, despite the changes in legislation that have occurred recently. Real estate transactions are ongoing, and people will need this market for many years to come.
A real estate agent is exactly that specialist who, better than anyone else, knows all the intricacies of the transaction procedure, regardless of whether it is selling, buying, renting or exchanging real estate. Therefore, the real estate agent is the person to whom clients (organizations and individuals) turn first.
The real estate agent takes responsibility for the transaction procedure, receiving commissions from the participants in the process for performing the work. In order for the transaction to be successful, the agent needs to clearly know his functional responsibilities and fulfill them without question.
Real Estate Agent’s Circle of Occupations
The legislation does not provide for the existence of a real estate agent as a profession. The real estate agent is the official name of specialists performing intermediary services in real estate transactions.
The real estate agent searches for suitable options for the transaction and offers them to the client, and then accompanies the procedure from start to finish.
The main functions of the agent today are:
- Search for clients wishing to rent or lease premises, buy or sell residential space or commercial real estate.
- Participation in the negotiation process between the participants in the procedure and advising them on all emerging issues.
- Transaction support from start to finish.
To work more efficiently in the interests of the client, the real estate agent must know the current legislation in the field of real estate and constantly study new changes in the laws.
The Main Duties Of A Real Estate Agent
The real estate agent performs an intermediary function at all stages of the real estate transaction. Many clients believe that displaying an item is the agent’s primary responsibility. This is not so, because the list of his duties is much wider:
- The agent must thoroughly study the real estate sector, identify trends in supply and demand.
- The real estate agent is obliged to bring to the clients the maximum of detailed information about the object of the transaction.
- The duty of the agent is to organize a high-quality display of an object suitable for the client in all declared position.
- The real estate agent is obliged to assist in the collection and execution of documents, to acquaint the participants in the transaction with their rights, to coordinate all the nuances of the transaction and to control the procedure for its execution.
- A professional agent must be able to resolve disputes arising between the parties to the transaction and smooth out possible disagreements.
- The agent is obliged to convey to clients their rights and basic obligations.
- The specialist is obliged to check whether the transaction is legal and whether it is legally clean.
- The real estate agent is obliged to perform an initial assessment of the object and inform The client of all available information about the alternatives available in its own database.
- Upon completion of the transaction, the real estate agent must draw up a report on the work performed.
Real Estate Agent’s Job Description
The main regulatory document of a real estate agent working under the wing of a real estate agency is the job description, which is created in accordance with the law. It describes in detail the main job responsibilities and rights of a real estate agent, as well as provisions for his responsibility.
If a real estate agent works independently (as an individual entrepreneur, for example), then this does not mean that he should not know the responsibilities of a real estate agent. A private real estate agent must fulfill his duties, like any specialist working in an agency.
Novice real estate agents are strongly advised to study their responsibilities, which will help you in your future activities!
Learn to fulfill duties from the first steps in the profession, learn everything new in the real estate market, learn from the experience of established real estate agents, and you will certainly achieve success!