What do real estate agents do? It seems that some people know a lot on this topic and others know little. Whether you just want to clarify your knowledge or add to it, here is a handy guide that gives you a sneak peek as to what real estate agents do.
List Homes For Sale
This may seem like an obvious note, but there is actually quite a lot of work involved in this process! A real estate agent, in order to list a home for sale, will need to accurately determine the property’s value at the current market rate, advise the homeowner how to prepare for showings, and enter details and photos of the home into the MLS database. From there, they will need to reach out to other agents and brokerages to market the property, schedule and possibly supervise showings, as well as coordinate with the homeowner regarding any queries, or offers for the sale of the property.
Work With Buyers
If you have been familiar with the real estate market of ten, twenty years ago or more, you would have an understanding that real estate agents had little involvement on the buying side. Today, there are many very successful buyer’s agents. Buyer’s agents will help locate a home that meets the requirements of their clients, the future homeowners. They will also help them secure a mortgage, draft up an offer, coordinate inspections, and work through all the necessary documents until the new homeowners have the keys in their hands.
Administrative Duties
In between listing homes or working with buyers, real estate agents are busy with the day-to-day operations like any business. They have to create budgets for monthly, quarterly and annual operations, update their website and keep active on their social media profiles. Real estate agents also have to maintain and manage a large client database while staying on top of the current market trends to better understand prices for active listings, pending and sold listings.
Lead Generation
A real estate agent must have a good number of serious clients. Without clients, there are no transactions. Without transactions, there are no commissions. And these commissions are how real estate agents get paid, so fostering these relationships is critical. Generating leads can be done through social media, advertising campaigns or by hosting open houses. A real estate agent can also represent their family, friends, neighbours, classmates, and people they meet at networking events in real estate transactions. It can be very beneficial to “get the inside scoop” on the market from someone you trust, so having a close relationship with a real estate agent is also good for you!
This list, while informative, is far from comprehensive. Real estate agents are always working hard to educate themselves and get the latest certifications in their field so that they are a cut above the others in their area. It is critical to have a knowledgeable and experienced Realtor by your side in an evolving real estate market.
If you would like to learn more about what real estate agents do, or how they can help you, please do not hesitate to contact me. I would love to sit down and discuss all the things I can do for you.
