What do estate agents do besides advertise property for sale and take prospective buyers to view them? 

  • Agents are not merely salespeople, as most imagine. The lengthy, complex transaction process requires much more skill and knowledge than just possessing a good sales patter. 
  • The internet completely revolutionised how we shop for everything, from clothes to houses. Consequently, these days, estate agents seldom play a vital role in the location of our dream homes. Most buyers start their property search online – but that was never their core function. 
  • Many people equate the role of an estate agent with that of a travel agent. Still, in reality, they are very different as estate agents are not sales agents but rather facilitators of the complex sale transaction. 
  • The sale and purchase of property is not the simple transaction one might imagine. The actual exchange of money and goods only happens at the end of a lengthy process. This comprises multiple steps which require more than a nodding acquaintance with diverse fields, including marketing, legal operations and finance. 
  • The first and most essential step is an accurate property evaluation, which determines the final sale price achieved and the length of time a home spends on the market. This is especially important if the seller is buying another home subject to selling his current property. 

Duty of a professional estate agent: 

  • 1. Share important information about the area 
    • A good agent will have information about local council rates, crime statistics, schools, recreational facilities, resident demographics, recent property sales and factors like public transport. 
    • They can then provide you with all the facts, figures and data you need to assist in setting a realistic sale price. 
    • An experienced agent has the expertise and in-depth knowledge to ascribe the property’s most accurate and market-related value. This will enable sellers to determine a reasonable selling price and the limit to which they can negotiate. 
  • Once this critical step is complete, an agent’s leg work begins. 

2. Skilled marketers 

    • To sell a home for the highest price in the shortest time requires a skilled marketing strategy utilising the correct online and print media, a strong client and industry network and extensive databases. 

3. Able to stage a home 

Agents will also offer advice about how to stage your home to its best advantage before conducting viewings with the least possible disruption to the seller’s daily lives. 

4. Legal knowledge for both parties 

  • Very importantly, a skilled real estate agent will have the experience and legal knowledge needed to negotiate a deal that benefits both parties. 
  • Buyers often don’t realise that although agents may act on the seller’s behalf, they inevitably provide value to the buyer. They act as a link to ultimately negotiate an agreement that best suit the needs of both parties involved. 
  • The difference between a good and weak agent is most evident – good agents negotiate calmly and rationally, preserving a pleasant atmosphere at all times and relying on hard facts to back up all their statements and arguments. 
  • Agents are also strictly bound to a code of conduct. This protects both parties against one-sided contracts and costly delays that could quickly occur if an uninformed seller has overlooked a critical transaction component. 
  • Like any legal transaction, buying or selling property involves reams of paperwork peppered with legalese and financial jargon. This is where estate agents are well worth their weight in gold. 

5. Administrative management 

• Real estate agents manage the administrative aspects throughout the process. Their thorough knowledge of the relevant legislation that regulates property transactions and all documentation and certification required to meet all regulatory requirements will ensure a seamless conclusion of the sale. 

6. General guidance and advice 

  • Real estate agents also offer guidance and advice and iron out any glitches that occur along the way. It is not uncommon for issues to crop up, and they ensure you, the client, receive the highest level of customer care. 
  • The best results are achieved by appointing an experienced agent with accredited knowledge about the entire process. They also need to be up to date with all the current laws. 
  • There’s the old adage that you get what you pay for. This holds true in real estate. Delivering a hands-on, bespoke service to clients in what is often the most significant transaction of their lives takes time, hard work and dedication. 

— Marsha

 

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