If you have made the decision to purchase, rent or lease a property that is not privately listed, there is a high chance you will be working with a real estate agent.
Licensed real estate agents are qualified and experienced, but there are some key features of the role that make their job requirements unique. Understanding the role of a real estate agent will help you to communicate with them with transparency and efficiency, paving the way for a positive relationship. This can relieve a great deal of stress and help you to keep a clear head when making important, life changing decisions.
Here are our tips for working with a real estate agent.
Try to clearly identify what you are looking for before you approach an agent. You want to feel clear and present in your decision making and not feel like you have been unwittingly influenced by an agent’s opinion. Separate your property goals into must haves, should haves and a wish list so you can clearly organise your priorities.
When you understand your own goals, a real estate agent will be better able to help you. By having clear aspirations, you can also ensure that your agent is working in your best interests.
Trust is such an important factor in your relationship with your agent, as both parties can feel vulnerable to being taken advantage of. Remember that most real estate agents are working on a commission basis. This means that if the transaction isn’t completed, the agent won’t be paid. This can make the client feel that an agent can’t be trusted because they are motivated to close the transaction.
But it can also make agents vulnerable to clients who aren’t serious or are not using their services exclusively. Time spent showing a property and following up with a client who has no intention of buying is a breach of trust for the agent. A two-way trust relationship is necessary and beneficial to both the agent and the client.
Be clear about your readiness to commit to a property transaction and honest about changes in your situation. If things change along the away, be sure to communicate with your agent. It may be a simple case of waiting until you are ready and making contact again. If you have built up a rapport, it makes sense to stay with an agent and work together again when the time is right. Don’t be afraid to ask questions along the way. If there are details, technicalities, or processes you don’t fully understand, then talk to your agent as you go. If your agent can’t answer a query directly, they will be sure to refer you to someone who can, such as a financial advisor or senior member of staff.
Treat your agent with the respect they deserve and understand that they may have a few jobs on the go at once. While it is part of their job description to be flexible and work outside conventional business hours, agents can’t be expected to drop everything and attend to the needs of one client. Managing your communications, turning up on time for appointments, and coming to meetings prepared will ensure that your agent can work in your best interests at all times.
Real Estate Professionals – Get the Best Education!
If you’re training as an estate agent, make sure you have the qualifications to best help your clients. Explore the courses available from Australian College of Professionals or call us today to learn more. Call 1300 88 48 10.