What does a real estate agent do? The most important responsibilities in this profession
What does a real estate agent do?
Have you ever wondered what a typical day in the life of a real estate agent looks like? Contrary to many professions, there is no place for boredom and routine here. Meeting new people, learning about properties, and responding to the changing requirements of buyers and sellers; these are only a few responsibilities. What does a real estate agent do on a daily basis?...Let's learn more about this now.
Real estate agents - who are they?
Real estate agents are professionals who help clients sell, buy or rent various properties such as houses, office spaces, apartments, condos, land, etc.
To start your career in this field, first you have to meet your state’s requirements. Then, you take a pre-licensing real estate course, pass the state exam and choose a sponsoring broker. Finally, you can apply for the license.
Real estate agents work under a broker and receive a percentage of commission on each transaction. The broker makes sure that the real estate agent complies with the rules and regulations.
Realtors vs real estate agents - are they the same?
Although many people use the terms real estate agents, realtors, and brokers interchangeably, it’s worth noting the difference between these three.
Real estate agents and brokers hold various licenses. Moreover, brokers can work independently.
They both can be realtors, provided they’re members of the National Association of Realtors (NAR).
What does a real estate agent do?
What do real estate agents do?
Administrative work
If you want to learn what real estate agents do, you should know that apart from negotiating prices and organizing tours, they perform lots of administrative tasks such as:
- responding to mails and phone calls
- processing lease records and documents
- scheduling appointments and meetings with clients
- analyzing market trends and preparing reports
- researching listings
Lead generation
Lead generation is an important part of every real estate agent’s work. Finding clients and building contacts is essential to close deals and earn commissions.
To attract new clients and inspire their trust, real estate agents can conduct social media campaigns, give out business cards, run a website, and take part in meetings where they can grow their network.
Working with sellers
What do real estate agents do? They cooperate with sellers to help them navigate through the entire process and make informed investment decisions.
Real estate agents frequently:
- meet with sellers
- enter properties into the local Multiple Listing Service (MLS) database
- conduct market research and set listing prices
- take photos of properties, prepare descriptions and listings
- stage properties to present them in the best possible way
- negotiate with buyers
Working with buyers
If a real estate agent works for a buyer, they’re responsible for finding properties meeting the expectations of the client. As a part of their job they:
- research the market to find appropriate listings and properties
- visit properties to evaluate their condition and value
- communicate with buyers
- show properties to clients
- submit bids, negotiating prices, and making sure that buyers can get a mortgage
- organize inspections and appraisals
- discuss agreements and contracts with clients
Meetings and property tours
Real estate agents spend lots of their work time out of the office. They schedule meetings to show clients new listings, update them on the process, and get to know their expectations.
Moreover, they frequently participate in property tours and determine listing prices based on competitor analysis.
Education
What does a real estate agent do? The best part of a real estate career is the need to constantly expand one’s knowledge in order to maintain an active license.
If real estate agents want to stand out, they should earn designations and certifications. This helps them improve their market credentials and brand recognition.
Education isn’t a part of everyday real estate agent’s work. However, it should be included in the overall development plan.
The takeaway
What do real estate agents do? They’re licensed to facilitate the process of buying, selling, or renting properties.
Although the job is variable and there is no typical routine, certain duties are permanently inscribed in the work of a real estate agent. These include administrative tasks, communication with sellers and buyers, lead generation, or inspection and appraisal scheduling.
Want to learn how to get your real estate license in multiple states? Read our article!