How a real estate agency works
It is not always possible for a person to carry out a property transaction competently on his own. In this case, specialised agencies, which act as realtors, come to his aid. They look for a buyer, tenant or housing, organise viewing, draw up documents. For their work they receive monetary remuneration, and in case of problems, solve them.
A real estate agency is a team of specialists who understand the legal issues of transactions. They will help to rent, buy or sell housing quickly, advise what documents to collect, draw up all the receipts and guarantees, check the property for ‘cleanliness’, formalise everything according to the law.
What do agencies do?
A real estate company has several functions. The scheme of work most often looks like this: first, the client registers in the database, they communicate with him, find out about his wishes and preferences. Then the search for a buyer/tenant or an object begins. The found variants are sorted, the most suitable ones are selected. After that, the realtor begins negotiations between the parties, if it is possible to agree and satisfy the requirements of both parties, the paperwork begins.
Sometimes the client of the real estate agency is completely removed from the business, gives the keys and entrusts all matters related to viewing, collateral and other preparatory moments, the realtor and appears only at the signing of the contract.
The agent knows all the principles of the transaction from start to finish, performs any type of work quickly and without errors, for this and receives his percentage.
The realtor’s work may also include drafting the text of the advert, as well as a marketing plan. He knows how to attract a buyer, how to describe the housing to arouse interest, how to bring information about your object in the top and get the maximum response.
Agent in a real estate agency
Agents are employees of a real estate company. They communicate with clients, choose options for them, and draw up all the documents. At the same time in the staff of the agency can be several dozen agents, who conduct different cases and perform different functions.
The work of a realtor
To understand the importance of the agent’s activity, let’s compare the scenario of the registration of the transaction independently and with his help. So, a person has some property that he plans to sell. What does he do? He goes to a website with adverts and posts his own. Then he waits for someone who wants to buy. It is unlikely that he analyses the market and puts up an adequate price, and also unlikely to make an attractive text of the ad. The person does not always understand how to photograph the flat correctly.
What does a real estate agency do in this case? Firstly, it evaluates your home and understands exactly how much you can sell it for and how much it is better not to put. Secondly, it has professional skills as a copywriter and marketer and knows how to present the object in the best light and raise its rating. In addition, the sphere of activity of realtors obliges them to have accounts on different adverts sites, so your offer will be published everywhere you can. On the plus side are promotion skills that allow you to bring the advert to the top. He probably additionally advertises on social media. All this allows him to achieve greater audience reach.
Thus, despite the fact that in the estate agency may be a lot of employees, the main role is played by the agent. He is the main link of the business.
What rights does an agent have and what are their responsibilities?
A real estate agent handles a sale, lease or purchase from start to finish. He may have the keys to the premises, he can open it himself to show it to clients. Among the main duties of the specialist are:
- liaising with the client;
- working on the advert and promoting it;
- searching for buyers/tenants;
- legal support of the transaction;
- solving various issues and problems.
- The agent’s activity implies taking into account all the client’s wishes, selection of the best options and legal purity of the concluded agreement.
How the agency is responsible for its agent
The management of the agency is not involved in the transaction, but it is responsible for the quality of services provided by its employees. If a realtor makes a mistake or shows incompetence, the client has the right to appeal to the management. In this case the agent will be replaced or the losses incurred will be reimbursed.