What Does a Real Estate Agent Do?
To some, the real estate agent or broker is just the person who helps them sell or buy/rent a property. However, when you take a closer look, it’s easy to see there’s more to the job than just looking for customers and properties (although, this can be difficult enough at times).
After all, it takes a lot of work to become a successful realtor with a solid reputation. And, just to get an idea of what it means to be a real estate agent, here are some of the tasks that are part of their daily routine:
To get to this point, someone interested in this line of work also has to cover a wide range of administrative tasks such as:
- Research the area that’s been assigned to them in order to know the available listings and their current state. Every day, a beginner real estate agent will be asked to check the MLS Hot Sheet in order to keep up to date with new listings and check on old ones.
- Keep up with the latest local and regional news that has an impact on the community and industry in the area.
- Take care of the agency’s schedule and coordinate activities (showings, meetings with clients, open houses, and more).
- Work on marketing plans to promote listings and find other methods of promoting the agency’s listings to a targeted audience.
- Check, complete, and submit paperwork (contracts, bank documents, real estate deals, and so on) with the proper organizations or authorities.
- Update the website and social media profiles of the agency
- Keep up with the news and put everything of importance in the agency’s blog
Once a beginner real estate agent gets some experience and starts bringing in listings, they may hire an assistant to do some of the tasks mentioned above. However, regardless of the fact that you are an independent agent or you collaborate with an agency, you can’t get rid of administrative tasks.
Side note: Nowadays, many agents use a software solution to manage real estate transactions and keep track of all their listings, which is incredibly helpful.
Another side of the real estate profession consists of actually meeting with people (sellers, buyers, owners, renters, and so on) and discussing the terms of a possible deal. During these meetings, an agent must use their analytics skills to judge the situation based on the facts and data they have available. Moreover, they also need to make use of their knowledge in the niche and negotiation skills to come to an agreement with all the parties involved.
They also need to visit the properties, take photos and videos, and stage open house events where interested buyers can get an idea of the house. Moreover, a well-seasoned agent may also share some tips and tricks with the owners to make the property more attractive and inviting.
Being a successful real estate agent also requires people skills and an extensive professional network. Therefore, they will often participate in events where they can meet and discuss business with their peers, but they’ll also show up at business events (especially if local representatives are expected to participate).
After all, realtors have the possibility to connect local businesses with serious customers. For instance, they can recommend a skilled interior designer to someone who just bought a house and is looking to redecorate. Or they can recommend a reliable plumber or contractor, according to the needs of the customer.
At the end of the day, a real estate agent’s agenda is usually full of a wide array of activities. Still, when someone loves their job, it’s easier to put up with the parts they are not very fond of (such as administrative tasks).