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The Roles And Responsibilities Of An Estate Agent

09.21.2009 · Posted in Home and Garden Articles

In United Kingdom, language estate agent is a name given to a person, who is responsible to look after selling, buying, renting, and managing of properties and houses. The estate agent’s responsibility is to deal on behalf of a property seller and take the whole liability to advertise and find the customer to sell out the property or house as per the requirements of his client. nnThe most important task of an estate agent is to make a deal of a property between the buyer and the property seller on several detailed terms and conditions. A property agent is supposed to provide his clients the truthful details and recommendations associated with the selling and buying of the property. The agent’s key objective should be to build such a deal, which is advantageous for both the seller and the buyer. nnAgents are in the position to get a benefit from the property, but personal interest should not conflict the principles of dealing. It also provides you an idea that what a property is like and what is its value currently in the market. It is against the principles of an agent to provide misleading and false statements about the property. nnIf you want to sell your property, making the right choice of a rightful property dealer is very important and difficult. Wrong selection of an estate agent can costs you heavily and results in the wastage of your time and money. Suppose you have hired an agent to sale your property, it is the responsibility of an agent to prefer the interest of the seller to personal interest and benefits. nnMoreover, if you are the buyer and you want to buy a property, the agent cannot charge an amount for just viewing and showing you the property. The pay structure of estate agents should be just. The client should not be bound to pay a single penny until the successful sale of the property is apparent. nnThe responsibilities of the estate agents vary from region to region. In the rural system the proprietors and property owners mostly the sale and purchase of the property is done by. Their duty is to make the best deal with the buyer and provides them the full information about the qualities and demerits of the property. Similar should be the principles in big cities as well. Estate agents should communicate with their sellers effectively and should provide them with the proper feedback about the sale of their properties. They should not only provide the sellers proper information, but also the response of the buyers who may be interested. nnA proficient agent goes through the information of the interested buyers who want to buy a property and then he contacts them. Besides that, an agent is supposed to have information about the present market rate and worth of the property in the vicinity where the property is located. nnNormally the agents charge maximum 3% of the sales price while making a deal to sell a property. However, the amount you are supposed to pay to the agent depends on the time it takes to sell the property. After six months, the percentage goes up to maximum 20% to 30%. Agents should charge according to the decided limit of amount not more than that. They also are paid from the seller so they should keep in mind the interest and benefits of the retailer while making a deal. These are some responsibilities and duties, which the estate agents is expected to perform.

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