You may think that being a real estate agent would be a very interesting job, communicating with other people and being your own boss. But remember, being your own boss can sometimes be exhausting. Do you know the duties and responsibilities of a top Toronto real estate agent?
Real estate agents help their clients to sell, buy or rent a property. They must work under the supervision of the real estate brokers and usually have to split their real estate commissions with their broker, because the brokers are licensed to manage their own businesses.
Responsibilities of a real estate agent
A real estate agent works as a listing agent (help a client to sell a property) or as a buyer’s agent (help a client to buy a property). So as the middleman between the two parties seeking to buy or sell a property, you must learn to be honest and loyal to your client. Also, it is very important to have up-dated knowledge about local laws, your geographical area and changes in your local market.
A professional real estate agent combines his/her own communicational skills and Toronto real estate market knowledge to sell the house for the best possible price and conditions, or to find a property much compatible with the client’s needs. As a real estate agent you must be confident, ambitious, energetic, persuasive and optimistic. You should be familiar with the trends in the local property market and the competitive prices.
Other duties of a real estate agent include negotiating with two parties, arranging the meetings (which may take place during the day, in the evenings or at weekends), showing the properties, listing a property, preparing the contracts, scheduling inspections and supporting the client through the closing process. So, a real estate agent should have flexible timing for showings or open houses and different meetings to visit the properties.
Real estate agents must learn the art of communication, it is important to communicate openly and honestly with your clients to create a trustworthy and reliable relationship. This requires to follow-up your clients, it’s still important to keep in touch with your former clients. You don’t need to call them, you can just send some emails for different holidays to show your online presence now and then.
Emerging technologies affect the real estate industry too and has changed the way the clients buy and sell their properties or find a real estate agent. But the crucial role of real estate agents is still felt in this market. Because many owners are not familiar with the rules, costs, insurance and contracts. Although technology allows the clients to see the photos of the house, they need to actually go inside the house to feel the real sense of the place.
To be a successful real estate agent, you should be always available to answer your clients’ questions during the whole process and provide all the required information. You must always be familiar with the local real estate market, pricing rules and real estate laws. Having good communication skills can help you to better understand your clients’ needs. You must also check the accuracy of every document and correct them before the contract is finalized.
Commission for real estate agents
People may think the real estate agents commission is high, but it is not easy to get licensed and become a real estate agent; they must also share their commission with their brokers and pay for dues and insurances. Besides, they know the exact market value of your property and they are professional in marketing and listing your house. You must pay 6 percent commission to sell your property: 3 percent to the buyer’s agent and 3 percent to the seller’s agent. They are charging for their experience and knowledge. It may seem expensive to use a real estate agent, but they worth it!!
The Hidden Value of a Real Estate Agent’s Work
Additionally, real estate agents often invest a significant amount of time and money into ensuring their clients’ properties receive the exposure they deserve. This includes paying for marketing materials, professional photography, and even staging services to present the property in the best possible light. Beyond these visible efforts, there’s also the behind-the-scenes work, like managing paperwork, coordinating with inspectors and appraisers, and navigating the complexities of financing. All of this requires a deep understanding of the real estate process, making a real estate agent’s role invaluable for ensuring smooth transactions. While the commission might seem steep at first, the expertise, time saved, and peace of mind that comes with hiring a professional often outweigh the costs.
