Profession real estate agent

Real estate agents administer the sales or letting process of residential, commercial properties or land on behalf of their clients. They investigate the property's condition and assess its value in order to offer the best price to their clients. They negotiate, compose a sales contract or a rental contract and liaise with third parties in order to realize the stated objectives during transactions. They undertake research to determine the legality of a property sale before it is sold and make sure the transaction is not subject to any disputes or restrictions.

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Personality Type

  • Enterprising / Conventional

Knowledge

  • Office administration

    The paperwork processes related to the administrative areas of an office environment. The activities or processes may include financial planning, record keeping and billing and managing the general logistics of an organisation.

  • Property law

    The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.

  • Contract law

    The field of legal principles that govern written agreements between parties concerning the exchange of goods or services, including contractual obligations and termination.

  • Customer service

    Processes and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer's or service user's satisfaction.

  • Real estate market

    The trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and properties for business purposes which such properties are traded in.

  • Mortgage loans

    The financial system of acquiring money by property owners or prospective property owners, in which the loan is secured on the property itself so that the property can be repossessed by the lender in the absence of payments due by the borrower.

Skills

  • Manage contracts

    Negotiate the terms, conditions, costs and other specifications of a contract while making sure they comply with legal requirements and are legally enforceable. Oversee the execution of the contract, agree on and document any changes.

  • Compare property values

    Obtain information on the value of properties comparable to a property which is in need of valuation in order to make more accurate appraisals and assessments, or to set or negotiate the price at which the property can be sold or leased.

  • Compose real estate contract

    Create a contract between two parties for the purchase, sale or rental of real estate. Make sure the real estate contract and the specifications comply with the legal requirements and are legally enforceable.

  • Value properties

    Examine and evaluate land and buildings in order to make valuations about their price.

  • Liaise with property owners

    Establish good working relations with the owner, signal problems and renovation needs, and advise on the choice of tenants.

  • Perform property market research

    Research properties in order to assess their usefulness for real estate activities, using various methods such as media research and visitation of properties, and identify the potential profitability in the development and trading of the property.

  • Provide information on properties

    Provide information on the positive and negative aspects of a property and the practicalities concerning any financial transactions or insurance procedures; such as location, composition of the property, renovation or repair needs, the cost of the property and the costs related to insurance.

  • Advise on property value

    Advise property owners, real estate professionals, or prospective clients in real estate on the current monetary value of a property, the potential of development in order to increase the value, and other relevant information concerning the property's value in the future developments of the real estate market.

  • Prospect new customers

    Initiate activities in order to attract new and interesting customers. Ask for recommendations and references, find places where potential customers can be located.

  • Inform on renting agreements

    Inform landlords or tenants of a property on the duties and rights of the landlord and tenant, such as the landlord's responsibility for the upkeep of the property and the eviction rights in the event of a breach of contract, and the tenant's responsibility to pay rent in a timely manner and avoid negligence.

  • Maintain relationship with customers

    Build a lasting and meaningful relationship with customers in order to ensure satisfaction and fidelity by providing accurate and friendly advice and support, by delivering quality products and services and by supplying after-sales information and service.

  • Identify customer's needs

    Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.

  • Obtain financial information

    Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.

  • Maintain financial records

    Keep track of and finalise all formal documents representing the financial transactions of a business or project.

Optional knowledge and skills

consult credit score negotiate with property owners examine the conditions of buildings manage contract disputes prepare inventory of properties examine credit ratings advertising techniques accounting techniques collect property financial information assist in loan applications analyse loans energy performance of buildings write inspection reports liaise with advertising agencies plan buildings maintenance work types of insurance examine mortgage loan documents monitor title procedures concurrent estate organise a damage assessment process payments building construction principles organise property viewing create a financial plan analyse insurance needs prepare sales checks perform contract compliance audits building codes attend trade fairs liaise with local authorities handle tenant changeover review closing procedures estimate profitability advise on investment protect client interests modern portfolio theory

Common job titles

  • Real estate showing assistant
  • Showing assistant / real estate sales
  • Luxury real estate agent
  • Showing assistant / real estate agent
  • A career in real estate
  • Real estate agent
  • Realtor
  • Licensed real estate agent
  • Real estate sales agent