A real estate agent is a licensed real estate professional whose job is to help people sell or buy real estate properties. Real estate agents are usually under a licensed broker. A real estate property can be a residential house, a residential or commercial condominium building, a commercial building, empty farm lots, beachfront properties, and such.
These are the duties and responsibilities of a real estate agent.
1. Sells real estate properties
2. Buys real estate properties
3. Negotiates pricing that is equitable for both seller and buyer
4. Arranges sales, including showing the property to a prospective buyer
5. Lists the property in the local database where other real estate brokers also have access.
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When listing a property to be sold or bought, here are the things that a real estate agent would need to do:
1. Calculate the price of the property based on the current market value
2. Let the property owner what he or she needs to do to have the property listed
3. Reach out to other real estate agents and real estate brokers connected to the local database to let them know about your property and if they might be interested in it
4. Advertise the property on newspapers, real estate websites, and social media
5. Arrange open house visits
6. Inform the property owner about whatever feedback, inquiries, or offers that come in about the property
7. When there is a legitimate buyer already, have both parties sign a purchase agreement to make the transaction legal
8. Do everything else needed to be done to actually close the deal, like scheduling inspections and supplying all the legal documents necessary to transfer the title of the property from the owner to the buyer.
Real estate agents work with the property owner to find a buyer. They also have to work with buyers closely to find their needs. For example, a buyer wants a mansion in an upscale suburban area or even just a condo unit in the heart of the city. An agent would have to look at the local listings and in his own network for ideal properties.
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Here are what a real estate agent must do to work with buyers:
1. Monitor the local listing, or Multiple Listing Service, to see if another agent or broker has put up a property for sale that will meet his client's needs. A good agent will do this daily.
2. In the Internet age, prospective buyers would find an agent online. A real estate agent should respond to all these inquiries because one of these could prove to be the bonanza.
3. Make sure the prospective buyer is earnest about buying a piece of property. A lot of real estate agents are already thinking of their commissions when they meet someone looking to buy a property. A tip is for the agent to have them sign an exclusive buyer-agency agreement, which ensures that the agent will get paid when they close the deal.
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And now, here are the duties of a real estate agent when working with sellers:
1. List the property in the local listing service so other agents and brokers will be informed about it, helping them monitor if they happen to have a client who is looking specifically for such a property.
2. Note that when a real estate agent would list a property, he or she should also list the commission and the brokerage listings.
3. Inform the seller that you are listing their property in the local listing to increase the chances of finding a buyer.
4. Always let the seller know about any offers for the property. In the end, it's the owner who will decide.
5. Explain to the buyer any legalities they should know while selling a property.
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And now, here are the duties of a real estate agent when working with sellers:
1. Listing the property in the local listing service so other agents and brokers will be informed about it, and they will check if they happen to have a client who is looking specifically for such a property.
2. Note that when a real estate agent would list a property, he or she should also list the commission and the brokerage listings.
3. Inform the seller that you are listing their property in the local listing to increase the chances of finding a buyer.
4. Always let the seller know about any offers for the property. In the end, it's the owner who will decide.
5. Explain to the buyer any legalities they should know while selling a property.
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