A real estate agent is someone who holds a state license and represents a buyer or a seller in a real estate transaction. Real estate agents are the people you deal with face to face when buying or selling a property. Agents execute many functions, such as showing homes to perspective buyers and negotiating transactions on behalf of their clients. Agents work on a 100 percent commission basis, which means their pay depends on their ability to find properties suitable for their clients and to close transactions. The purpose of this article is to discuss the responsibilities of a real estate agent.
The First Step is to Guide: Prior to touring a home, an agent will need to understand their client’s budget, preferences and wants/needs, as well as their motivation. They will then narrow the search and identify each priority.
The Second Step is to Educate: A real estate agent should offer information on homes in the local market and comparable sales. This process can be complicated and a good agent will advise and counsel the client every step of the way.
The Third Step is Networking: A real estate agent must be familiar with the target neighborhood and know the homes for sale before they are formally listed. Experienced agents should know and have a good working relationship with other agents in the area. Additionally an agent should be capable of referring a client to trusted professionals such as lenders, contractors and home inspectors.
The Fourth Responsibility is to be an Advocate: Buyers should work with an agent who can fully represent them. Your agent should be an expert who is looking out for your best financial interests and is contractually bound to do everything in their power to protect you.
The Fifth Responsibility is to Negotiate: A Real Estate agent handles all the negotiation details such as preparing all offers and counter offer forms. After the home inspection is complete, an agent can be beneficial in making sure the repairs are done in a timely fashion.
The Sixth Step is Managing Minutia: A good real estate agent understands the deadlines and details of all the paperwork involved in a deal and can help navigate this complex process. They will make sure all the boxes are checked, all initials are in the right places and all the paperwork is complete before submission.
The Seventh and Final Step: The final role of a real estate agent is to “look out” for you. Any form of errors can damage a deal before its closing. These errors can include a lender failing to meet financial timelines, unclear house titles or a seller failing to disclose a problem with the property. Any small error can kill a deal. A great real estate agent knows to watch for trouble and can skillfully deal with challenges as they arise.
In conclusion, the road to home ownership can be bumpy and can be filled with unexpected turns and detours, but having a real estate agent’s assistance can help guide the way. They are crucial in the real estate business.