What Does a Real Estate Agent Do?


August 27, 2018

When it comes to buying, selling or renting property, a real estate agent is a crucial part of the picture. Both buyers and owners need them. So, what exactly does a real estate agent do? What do you need to know beforehand? This brief list will give you a look at the ins and outs of their responsibilities. Refer back to it anytime, so that you can better communicate your needs to your agent.

Knowing the market

Anytime you hire someone to perform a service for you, it is because of their expertise. A real estate agent should be a key resource for endless information regarding the housing market. Agents will be able to consult their clients on mortgage rates, market trends, legal requirements, and other state and local requirements.

Property value and appraisals

One of the top reasons that property owners become real estate agents is for their ability to accurately provide a market value for their house or apartment. The first thing that they should tell you about is other properties with a similar profile in your neighborhood. This helps ensure that whatever value they communicate comes from a well-informed place.

Negotiate

You probably wouldn’t want to represent yourself in a serious court case. So, you probably would like to have professional representation when selling or buying a home. Real estate agents are experts at presenting offers, negotiating prices, and leveraging the unique value of a property. It’s also better to use them as a non-emotional buffer. A home has sentimental value, so using an agent will make sure that all negotiations are strictly business.

Improve your value

Is there a certain asking price, or monthly rent you have your heart set on? Your agent can tell you know how to elevate what you are offering to get that price. Part of a real estate agent’s job is to inform you how to get the most out of your property. That includes suggesting upgrades and renovation projects. Agents will advise on a renovation budget that will give you the best ROI. They will also explain how to go about construction on your property.

Two people sitting at a desk having a meeting with papers and graphs

Advertise and sell

What you really need your real estate agent to do is promote and sell your property. If finding a buyer was easy enough to do on your own, agents would be out of business. Until then, using a real estate agent is the best way to get the word out there that your property is on the market, or that you are looking for a new home.

The agent will know where and how to list your property. In big cities, there may be dozens of quality platforms and places to list and advertise your home. Your agent will make sure that your property is getting visibility. Don’t forget, the presentation is key. The agent will know how to use language and photography to promote your sale.

Acting as a client facing salesman is how a real estate agent will sell your place. They are the experts in hosting showings and walkthroughs of the property. An agent will know how to point out the value and unique features that will set your property apart from the rest. Real estate agents are also experts at answering tough questions from prospective buyers. If your busy schedule prohibits you from hosting an open house, your agent will put together a schedule that works for you.

Work with third parties

It isn’t just the buyers, agents and brokers that your agent will be helping you with. There are numerous other entities that you will need to face when selling or renting a property. For example; lawyers, home inspectors, pest control, architects and even engineers. Agents are constantly coming in contact with these parties and will advise you about how to handle every situation.

Vet buyers and tenants

If you are wondering what a real estate agent does to protect your investment long term, the answer is simple. Vet buyers and tenants. Some agents and property managers can tell who a serious buyer is during the showing. They express interest in the history of the property and ask the right questions about maintenance and utilities. They will also run finance and credit checks on buyers. This ensures that they qualify for financing and warrant a meeting when moving forward with the sale. Blueground property management functions in a similar way. Through partnerships and a seamless renting system, our team takes care of confirming the financial stability of the tenant.

Provide resources

You shouldn’t have to rely on a real estate agent for every bit of information. Initially, there will be a lot of things you don’t know. They will gladly provide online and offline resources that will help you learn more about how to manage your rental or investment property.

Maintenance and management

A car dealer couldn’t sell a Ferrari with bad breaks. Similarly, your real estate agent can’t close a deal on a great property with maintenance issues. Your agent is going to be a stickler for the details. This includes the condition of the plumbing, construction, design features and electricity. A beautiful space is only as sell-able as its weakest point. Your agent will conduct maintenance checks during the listing process so that the property is always ready for a prospective client to come through.

Maintenance being done on a dishwasher

Closing

There’s a lot more to closing a deal than handing over payment. An agent is going to ensure that the proper research is done on the seller and the property. They will also oversee the process of the final signing, the transfer of titles, funds and any last-minute details to ensure the closing is complete.

Identify opportunities

Your agent does more than list and answer ads. Perhaps you have multiple properties and your agent knows you are in the market to invest in more. They will keep their ear to the ground and keep you apprised about neighborhoods and investment opportunities.

A great agent will hit all of the mentioned areas and more. It’s important to have great communication about what your expectations are and what you need to know. If you are renting, selling or just browsing the market, your best friend in the process will be your real estate agent.


United States