ROLE AND FUNCTION OF REAL ESTATE AGENT ddv3332 ROLE AND FUNCTION OF REAL ESTATE AGENT An estate agent offers numerous services in relation to property professionally such as Selling and leasing property efficiently Advising choice property type and location for investment purposes Appropriating choice tenants to maximise income reduce management problems in the future Advising on - Property price and rentals - Terms and conditions and procedures involved in S & P agreement and rental agreement - Strategies and techniques in marketing property - Tenant mix in a multi-tenanted building - Insurans Of late agents also advise legal matters related to the sale/rental and other land matters 19-May-18 DDV3332

ddv3332 A prospective client will contact an agent to arrange for the sale or rental of his property. The client should furnish the agent with all the relevant details. The owner and the agent will then discuss how best to sell or rent the property. Here the function of an agent in discharging the instructions of his client is what is known as an estate agency. The function of an agent is to arrange meetings between an owner with either a buyer or tenant and to finalise a sale or letting. During which the agent will negotiate on behalf of the owner to arrive at the optimum price or rental. For such services the agent will be paid a fee or commission. 19-May-18 DDV3332

ddv3332 An estate agent has to discharge his duties continuously well in order to be successful in marketing properties. The agent plays two important roles namely As a consultant (this is most important) - has to have sufficient knowledge on property, property laws, property market and sale process to be able to front and negotiate properly with the third party. - this is to ensure that whatever decision made is the best in terms of sale, letting and investment - there are certain guidelines that an agent has to adhere to while discharging his duties: - all properties on offer have to be previously inspected - able to analise the property - able to answer all questions related to the property - show respect to the owner and the third party - friendly to all parties - ensure the third party that the purchase shall not waste - allow the third party to settle all their problems - arrange for the third party to see the property as soon as possible - concentrate fully on marketing of the property to ensure its saleabality - do not take too much time of the third party - have to in all competition in stride - not too humble or over confident - do not put aside any offers or requests 19-May-18 DDV3332

- able to make timely decisions based on facts and situations ddv3332 As a manager - office management - office organisation - staffing - able to make timely decisions based on facts and situations 19-May-18 DDV3332