Real estate agents or Realtors are the lifeblood of all real estate transactions. They either represent property buyers or property sellers (they are different from real estate broker). When working for sellers, realtors conduct a market research on current market conditions, establish competitive market prices, list and advertise the property and guide sellers through the legal transactions and sales contract procedures. For buyers, they identify buyer’s needs and affordability, search for compatible properties, negotiate the price and guide them through the entire property buying process. They often act as intermediaries between buyers and sellers. (click here for income potential and tax deduction tips)
The specific duties of a real estate agent include:
Provide their clients with expert advice on matters relating to mortgages, prices, legal requirements and other vital property market condition
Prepare real estate documents such as purchase agreements, representation contracts, leases and deeds and closing statements
Oversee the signing of real estate documents, coordinate property closing and witness the disbursement of payment
Assist prospective clients in identifying areas to look for property
Negotiate contracts and purchase agreements with counterparties on behalf of clients
Schedule property showings and hold open house events
Work hand in hand with clients to determine the right price for the property they want to sell
Accompany buyers to view properties or inspect them and offer advice on the suitability and value of the property at hand
Consult with escrow holder, finance companies, home inspectors, and pest control specialists to ascertain that details in the purchase agreement are met prior to closing
Interview buyers to determine their needs and identify a list of properties that meet the buyers’ requirements.
Establish close relationship with mortgage lenders, contractors and other stakeholders in the real estate market
Evaluate clients’ financial status to determine their eligibility for financing.
Evaluate mortgage options and assist clients in obtaining financing on the most favorable terms
Stay abreast with changes in the real estate markets by reviewing trade journals, property listings, relevant literature and attending seminars and conventions to gain new insights and remain knowledgeable on matters relating to real estate market
Arrange title search to determine the legitimacy of the property in question
Answer clients’ questions on issues relating to financing, construction, repairs, maintenance and appraisal.
Perform administrative duties such as filling out relevant forms, preparing descriptive documents for listing, writing classified ads and taking photos of the clients’ properties for advertising.
- Real estate agents have a duty to continue educating themselves and adding new skills so that they can remain relevant and reliable over time.
Some of these paper work actually can be prepared by the brokerage your are with. For a more detailed guide on the being a real estate agent, click here to see more.
Image is courtsey of Blog.HouseNetwork
If this sounds like a career for you, the first step is to get yourself licensed. We have a Fast Track real estate course in Toronto, with 10 years of experience in helping people launching their career into this industry. The course has an exam passing rate of 95%, and you can sign up for a first class as trial, completely free with no obligation.
Thank You!
Get more stuff like this
Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
No Responses