Did you know that the US has more than 2 million real estate agents?
Real estate agents are often an essential part of buying or selling a home. But what more do these professionals do that makes working with them worth it?
The job of a real estate agent is actually far more complex than getting two parties to sign on the dotted line. Their work involves all the ins and outs of facilitating a sale as well as staying updated on the industry and even marketing themselves.
To learn more about real estate agents and what they do, read this quick and complete guide.
What Is a Real Estate Agent?
We often think of real estate agents only as people who help homeowners buy and sell homes. But real estate agents may also be involved in the sale or purchase of land, offices, buildings, and commercial properties.
If they’re working on behalf of the seller, they’re called a listing agent. If they’re helping someone find and purchase a home, they’re called a buyer’s agent. Real estate agents may also be involved in the rental market.
What Does a Real Estate Agent Do?
Buying, selling, and renting properties of various kinds is just the general description of what a real estate agent does. The process of buying, selling, or renting properties involves many roles and responsibilities.
1. Working for Buyers and Sellers
You can think of a real estate agent as the middleman between two parties who are seeking to buy and sell a home, a plot of land, a commercial building, etc.
When they work for the buyer, they try to find what the buyer is looking for and to get it for them at the best possible price. When they’re working for the seller, they try to sell the property for the best possible price and with the most favorable conditions.
They typically take care of all the paperwork and administrative duties involved in the sale of a property. They organize and facilitates meetings, too.
2. Keeping Updated
To be a good real estate agent, one has to stay updated on local, state, and federal laws regarding the selling and buying of property. This task can be tremendous for real estate agents involved in the buying and selling of properties where many rules and regulations apply, such as on contaminated or protected land.
Real estate agents should also know the trends in their local property market. Like this real estate expert, they should have an idea of competitive prices as well as what listings are active, pending, and sold.
3. Attracting Potential Clients
The best real estate agents know how to network and develop business relationships. This goes well beyond friends and family. Real estate agents should have a large network of business associates and other agents and brokers with which to discuss listings and trends.
These colleagues may also be a good source of leads, which are essential to any successful real estate venture. Real estate agents also maintain websites, social media profiles, and blogs where they can attract potential clients and market themselves.
Top Real Estate Trends
A real estate agent does a lot more than facilitate the sale and purchase of a home. They take care of all the administrative tasks involved in that process, but they also have to stay updated on local trends and laws. Another big part of being a real estate agent involves attracting clients.
Are you a real estate buff who loves staying on top of the trends? Be sure to check out the Real Estate section of our business blog.