What Does a Real Estate Agent do?
I. Representing Buyers
1. Assessing Client Needs And Identifying Properties: When taking on a new buyer client, the real estate agent starts by having an extensive conversation to fully understand what the client is looking for in a new home across all attributes (location, size, amenities, school districts, etc.). The agent asks probing questions to determine must-haves versus nice-to-haves and establishes the maximum budget. After capturing the ideal specifications, the agent thoroughly researches the current property listings available on online platforms to identify all options that closely align with the client’s wish list.
2. Making Offers And Negotiating Contracts: Once a buyer decides on a home they wish to pursue, the buyer’s agent guides them through crafting a competitive offer. The agent assists the buyer in deciding an appropriate dollar amount to offer based on factors like comparable sales, time on the market, interest rates, and seller circumstances if known. The agent ensures all documentation is completed thoroughly, including earnest money deposit, proposed move-in timeline, contingency clauses, etc.
II. Representing Sellers
1. Pricing And Marketing Property Listings: Before placing a new listing on the market, an imperative role of the seller’s real estate agent is determining an appropriate listing price. The agent performs thorough market analysis by running comparisons based on recent sales of similar nearby homes. Factors like square footage, age, renovations, school districts, and more are taken into account to evaluate apples-to-apples comps with sold homes. The agent synthesizes insights to guide the seller’s client in listing at a price that aligns with current market demand.
2. Showings And Offer Negotiations: As interest and showings pick up steam, the seller’s agent takes on a few key responsibilities. The agent fields inquiries from buyer agents on details about the home, provides necessary documentation like disclosure forms, and schedules showings at the seller’s convenience while adhering to contractual obligations.
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