Estate Agent Job Description

Estate Agent Job Description, Skills, and Salary

Get to know about the duties, responsibilities, qualifications, and skills requirements of an estate agent. Feel free to use our job description template to produce your own. We also provide you with information about the salary you can earn as an estate agent.

 

Who is an Estate Agent?

Are you into properties? What was the experience like when you purchased or rented your latest property? Did you enjoy the services of the individual(s) that helped you rent the property? Do you agree that estate agents are important in the real estate sector? As a property owner, do you feel comfortable handing over your properties to someone else? Should some laws bind estate management? Well, certain individuals or organizations have been licensed and authorized to act as a liaison or middlemen between property owners and interested buyers; they are often referred to as estate agents.

Several definitions exist for an estate agent depending on the context; however, an estate agent can simply be defined as a person, firm, or business whose job involves the sale and renting out of buildings and lands. Most estate agents are employed by real estate firms or companies. In other words, an estate agent is an individual that is concerned with the valuation, management, lease, and sale of properties. Also, an estate agent has been described as an individual who acts on behalf of their owner (the estate manager) and serves as the administrator of a large landed property. Strategically, an estate agent arranges and manages the sale of homes on behalf of the owner.

Some estate agents have developed specialties and specificity in mainly renting outbuildings, homes, or properties; they are often referred to as letting or management agents. Furthermore, the estate agent(s) tends to be engaged in the marketing of properties that are available for sale. The legal documentation for the sale and purchase is prepared and processed by a licensed conveyor or a solicitor. In some countries and locations, the licensed conveyor may act as an estate agent as well.

Most tenanted properties are managed and handled by estate agents; they receive rent payments or complaints on behalf of the owner and relay relevant information to both tenants and property owners. The homes, buildings, and landed properties managed by the estate agent can include privately or individually owned properties, company-owned buildings, industrial properties, commercial properties, or residential properties. To be successful in real estate management, an estate agent must be familiar with the local area or environment; including the factors that can decrease or increase the price or cost of properties. For example, the construction of new roads or an airport can blight houses nearby. Relatively, the closing of a quarry or improvement of an area can enhance prices. When advising clients on an asking price, the estate agent must be aware of recent or current rental values or sale prices for comparable buildings or properties.

Before selling or renting out properties, an estate agent reviews listings, draft contracts and discuss terms with the potential buyer or tenant. The clients might have a specific preference; an estate agent is responsible for searching for properties that meet the needs of the clients. They schedule meetings and appointments for the clients to view the selected properties. Similarly, the estate agents employ their knowledge of real estate law to choose properties that best fit the budget of the interested buyers or renters. Most real estate agents work on irregular schedules; they may be required to work on weekends, holidays, or evenings depending on the needs of the client. However, the estate agent earns a portion of the commission after brokering the sale of a home, building, or property.

While working in a competitive industry, an estate agent strives hard to find the right home and the right location for people and businesses respectively. They use their active listening skills and resourcefulness to understand the market activity and solve the client’s demands. They are specially trained to guide clients through every phase or stage of scouting, buying, selling, or renting properties. Since the agency is an essential function of the property industry, an estate agent rarely remains unemployed. An estate agent can also be a chartered surveyor; this qualifies them to perform full evaluations and surveys of properties. They provide linkages and connect clients with a financial and legal professional for further advice. Some estate agents that work as part of a consortium promote their services through networking to ensure a steady and constant flow of referrals and clients.

                                             

Estate Agent Job Description

Below are the estate agent job description examples you can use to develop your resume or write an estate agent job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.

The roles and responsibilities of an estate agent may vary based on the specific activity; that is the duties differ when an estate agent is helping a client to sell, buy, or lease out a property or building. However, the estate agent manages everything from the scouting stage to the completion stage. This may involve administrative work, research, and, marketing. Additionally, success in an estate agency hinges on meeting certain benchmarks and working within the confines of the law. Thus, an estate agent is expected to perform the following duties;

  • Schedule suitable appointments that are in line with the clients’ schedules.
  • Perform thorough research of the local market to solve discrepancies.
  • Compare properties and check market activity to establish selling prices.
  • Meet, discuss, and understand the needs of property or home sellers and buyers.
  • List buildings and properties with the relevant amenities and services.
  • Attend closing dates to provide support for clients.
  • Take clear digital pictures of properties for presentation to buyers or leasers.
  • Use your marketing knowledge and abilities to liaise between the seller and buyer to negotiate prices.
  • Stage home properties for visits and make a purchase offer on a property.
  • Reveal any new information about a property to buyers.
  • Present any relevant details about a property seen during the research process.
  • Answer phone calls and reply to emails.
  • Update property listings regularly and order supplies.
  • Draft and deliver documents appropriately.
  • Stay appraised with real estate best practices and current market trends.
  • Explore open listings to discover properties for potential buyers and tenants.
  • Develop and share promotional materials.
  • Build a website or blog to boost marketing.
  • Network and interact with local businesses and prospective clients.
  • Ensure that the online social media platforms are active and functional.
  • Run audio, visual, and audio-visual advertising campaigns online and on print media.
  • Identify the assets that make up a property’s top-selling points for a particular neighborhood.
  • Determine the best places to invest money for improvements.
  • Counsel the client on evolving market conditions and mortgages.
  • Review purchase and rental contracts to ensure that the terms are met.
  • Prepare loyalty contracts, rental agreements, deeds, purchase agreements, and other documents for each real estate transaction.
  • Maintain your real estate license and knowledge.
  • Handle inquiries about properties from potential buyers and value buildings, lands, or homes.
  • Produce promotional information, brochures, reports, and other written material.
  • Ensure that the acquisition, disposal, or leasing of a property is completed legally.
  • Determine the client’s needs and financial ability to propose solutions that suit them.
  •  Manage the auction or exchange process of a property or home.
  • Cooperate with escrow companies, home inspectors, appraisers, and lenders.
  • Collect references and carry out credit checks when vetting prospective tenants.
  • Make sure that the properties meet legal, health, and safety requirements.
  •  Organize and collect rent payments.
  • Resolve any issues that arise with the properties whilst acting as the property’s manager.
  • Report challenges and problems encountered during the selling, buying, and leasing process.

 

Qualifications

The following are the qualifications an individual needs to become an estate agent;

  • Although a degree is not an essential entry qualification or requirement for a career in real estate, increasing competition in the industry for employment means that having one might give you an advantage. Hence, a degree, HND, or foundation degree in business-related studies, surveying, property development and management, civil and structural engineering, urban and land studies, or estate management can suffice in this regard.
  • In addition, a postgraduate degree is not mandatory; rather, a professional examination can be taken once the estate agent starts the role to enhance knowledge and develop skills.
  • With increasing legislation in property transactions, an experience of legal work may be an advantage; so too a background in administration, customer service, or sales. These can be helpful as the estate agent would have developed some of the required skills for the role.
  • Although pre-entry experience in estate management is not compulsory, extensive knowledge of and experience with home selling processes, and an aptitude for the market is desirable.
  • For higher positions, a proven experience working as a real estate agent or salesperson and a proven track record of successful sales are required. Also, the candidate must demonstrate an excellent ability to work independently.
  • Some organizations and employers demand a real estate agent’s license as well as proficiency and familiarity with Microsoft office.
  • Having good information technology capabilities is preferable; experiences from voluntary work or internships are an added advantage; it shows the individual’s interest in working in the property or real estate sector.
  • Most firms and businesses offer on-the-job training; but, prior training and workshop in areas like effective estate agency, conveyance procedure and practice, customer service, dealing with difficult people, effective leadership, and essential law for a residential estate agent is an added advantage.

 

Essential Skills

Estate agents need to be familiar with property types and the sales process; they should possess the following skills;

Negotiation skills: An estate agent must be a good negotiator; you will be facing a plethora of clients with different socio-cultural backgrounds and from different contexts. Thus, you should be able to negotiate prices competently and arrive at agreements on some elements during the sales or rental process. During the negotiation process, the estate agent must adhere to the rules and regulations of their local real estate industry even when the process is complex.

Knowledge of the real estate industry: Being a competitive industry where things can change at any time, an estate agent needs to know and be well informed of incoming or pending changes in the sector. Furthermore, they must be well aware of market trends about the types of houses that are popular and in high demand or the neighborhoods that attract potential buyers or renters.

Promotional and marketing skills: You must be a good promoter or marketer to succeed in real estate. Excellent marketing and promotional skills enable the estate agent to build their client base and attract buyers. Marketing and promotion can be performed via outreach, advertisement, and referrals. When marketing, an estate agent must be able to emphasize the benefits and positives of the home or building.

Knowledge of the local environment: A good estate agent must have extreme knowledge of the immediate area or environment they operate. This includes but is not restricted to local housing trends, where local amenities can be found, the types of neighborhoods in the vicinity, the general or average prices of houses and properties in different parts of the area, and the composition of the different schools’ districts in the location.

Client service skills and market knowledge: An estate agent must be knowledgeable on how to serve the clients excellently. They must have the ability to work within the price range of the clients, remain available from the beginning to the end of the sale process, and understand exactly what the clients are looking for. The position of an estate agent also demands thorough knowledge and understanding of the real estate markets; this may include home prices, neighborhoods features, current trends, and available property stock within their territory.

Understanding of architecture: Architectural terms are often important for an estate agent; the clients might request a specific style and concept of home or architectural feature.

Communication, time management, problem-solving, technology, ethics and integrity, ability to network, and knowledge of real estate law are other related skills and qualities an estate agent must-have.

                 

How to Become an Estate Agent

It would be smart to start a career in estate management by becoming an estate agent if you relish selling properties and helping clients to find their ideal or dream homes and business spaces. There are certain and common requirements and standard real estate qualifications to possess before looking for an estate agent entry-level job. The following are tips or steps on how to become an estate agent;

  1. Meet the minimum age requirement.
  2. Enroll and complete a sales course
  3. Get the required experience and learn through an internship, apprenticeship, or voluntary work.
  4. Train under a professional body
  5. Learn about the local and national market
  6.  Work towards the role by searching and applying for estate agents roles.
  7. Earn a professional certification for promotion and higher remuneration.

                                            

Where to work

Most estate agents work in independent and private estate agencies. Most of these firms range from large companies with multiple branches and offices to smaller one-branch firms. There are maven divisions in bigger real estate firms; these divisions encompass rural, property, commercial, surveying, residential, or corporate investment. Some estate agents are self-employed and work as freelancers while others may work part-time in construction and structural engineering companies.

                              

An Estate Agent Salary Scale

Salaries and remunerations for estate agents comprise of basic pay or salary and a commission, which is usually based on a percentage from sales. Factors that determine the amounts received are the estate agent’s qualifications, location, economic climate, and the size of the real estate enterprise. Some organizations employ estate agents on a guaranteed initial commission for a limited period to gain some experience and start securing deals; before elevating them to a fixed salary plus commission. In some firms, an estate agent can earn extra income in the form of bonuses when they exceed or hit the sales target set by the employer for a month, quarter, or year. A breakdown of the salary scale of estate agents is given below

  • Trainee estate agents have a starting salary of 14,000USD to 20,000USD per annum.
  • For experienced estate agents, the salary range from 25,000USD to 60,000USD per year plus commissions.
  • Specialty estate agents who are in management can earn up to 100,000USD per year.

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