Who the Real Estate Agents are?
They are the independent sales workers. They also provide their services to the different Real Estate Brokers.
Pre-requisite
There is no such formal education required to grow as an agent. But the prospective agents preferably have attained 18 years of age and must possess high school or graduate degree.
Formal education
But nowadays, with the spreading success of Real Estate business, people are taking formal degree and diplomas from various universities to pursue their career as an agent.
Working hours
Working from home-office and commercial –office, both the options are available for the Real Estate Agent. They work from 40 hours per week to more than this, depending upon the effort they want to put in.
Few agents even enjoy working on weekend or evening hours. They are usually part-time agents. Naturally, their profit is lesser than the full-time agents.
Licensing of the Agent
Proper license for running the business without any legal hassle is must for every Real Estate Agent
Knowledge of any Real Estate Agent
1. They must be familiar with the place, they are dealing with.
2. They must have the thorough knowledge of the property or the land they are dealing with.
3. They must be aware of the neighborhood of the existing property.
4. They must have the familiarity with tax laws and local zoning.
5. They must be known where to get proper financing
6. They must be acquainted with the proper buying and selling terms
Role of the Real Estate Agent in different Real Estate Project
Different projects are dealt by different types of agents:
1. Agent for Commercial project: They only deal with the property, which are useful for commercial purpose like shopping mall, multiplexes, warehouses, community centers etc.
2. Agent for Residential project: They deal with the project, which focuses on various residential buildings, apartments etc.
3. Agent for Industrial project: They deal with the project for the different industries, offices etc.
4. Agent for Land project: They only deal with various lands in different places in order to make it a profitable property in future.
5. Agent for Farm project: They deal with various vacant farms to make it ready for farming.
Role of an Agent in Property-Listing
Apart from selling and buying property, Real Estate Agents often make a listing of properties to sell, and compare those properties with the property of similar type. By this listing, agent can sense the following points:
1. It gives the agent an overview of future prospect of the property, meaning for which purpose it can be used.
2. It shows the competitive market price of the same.
What is Listing Agreement?
Listing Agreement is nothing but the contract between any seller and the listing Real Estate Firm, which subsequently includes listing period, duties and responsilities of the firm and agents, payment date, commission rate etc.
Role of an Agent dealing with Industrial property
Agents must have the thorough knowledge of the transport accessibility, raw material and labor availability etc. of that particular place.
Role of an Agent dealing with Residential property
Agents have to sense few things before dealing:
1. Money affordability of the client
2. Kind of locality client like to reside
3. Kind of facilities clients are looking for
Role of an Agent before deal closing
All the terms in a signed-contract between agent and the client should obviously be met before closing deal, including any repair, pest control etc.
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