What Do Estate Agents Do? Everything You Need To Know!

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What do estate agents do? In many cases, the answer is that they sell houses. They're the ones who act as your liaison between you and the seller, and vice-versa.

And they're the ones who make sure all the paperwork is in order and that the transaction goes smoothly. But that's just a small piece of what an estate agent does.

Estate agents are much more than that. They're their communities' eyes and ears. They're the people who know their neighborhoods and their local property laws better than anyone else. They're the ones who know which houses are likely to sell quickly and which ones need time to warm up to potential buyers.

They're the ones who are there day after day, showing properties to the people who might be interested in buying them. They also make things happen, the ones who are always ready to answer questions or take you out to see the house if you're interested in it.

However, if you are interested in real estate, then this article is for everything you need to know about it!

This article is going to discuss what estate agents do, and also answer some of the questions in your mind, such as can an estate agent be a mortgage broker? How do letting agents choose tenants? And most importantly, what do estate agents have to disclose? In short, we will discuss everything you need to know about estate agents!

What Do Estate Agents Do?

Estate agents spend most of their time helping buyers and sellers navigate the buying and selling process. They're your liaison between you, the sellers, and the myriad details about buying and selling a house.

Estate agents help you find a house, show you houses on their own, help you negotiate details like price, terms, and help you get the paperwork signed when you're ready to complete. They may even help you stage your home and help get it ready for viewings.

They also help you through the purchase process. They know what you can do and what you can't. And they know what to ask you as you go through the process.

What Kinds of Estate Agents Are There?

There are several types of estate agents, each of whom specialises in a certain type of real estate.

There are residential estate agents who help with selling single-family homes. There are also commercial estate agents who help with the sale of commercial properties.

There are also mortgage brokers who help you get a loan and can also be a type of real estate agent.

How do Estate Agents Make Money?

When you buy or sell a house, you're doing business with an estate agent. If you're buying a house, you want someone who knows a lot about real estate and will help you navigate the process.

Estate agents charge a commission when they help someone buy or sell a house. The commission varies from 1% to 4% of the selling or buying amount, depending on the property type and location. It can also be a fixed fee. 

All of these are things that you will discuss and negotiate with a property valuer when they come out to carry out a valuation appointment at your property.

Qualities of the Professional Estate Agent

You might think that the best way to find a good estate agent is to ask friends and family who they use. If you do this, you're likely to get a lot of good suggestions. But, that's not the only way to find a good estate agent.

You also want to make sure that your estate agent understands your needs and can help you in finding the perfect house for you.

You can also check an estate agent credibility by visiting various reviewing platforms like Trustpilot or by simply Googling their name. You will find all of the reviews that previous clients have left them in both places.

Essential Questions and Their Answers:

Q. Can an estate agent be a mortgage broker?

Answer: A mortgage broker works with banks to help people get a mortgage. If you've already found a house, you may want to get a mortgage broker to help you get the best possible deal on your mortgage.

Q. How do letting agents choose tenants?

Answer: Most letting agents want to rent their clients properties as quickly as possible. They know that a house or apartment left vacant too long is lost income for their client. So they want to rent the property fast. But, this doesn't mean that they will rent it to anybody. There are thorough credit checks and referencing that takes place before a tenant is concidered for a property. It is then a discussion between the letting agent and the landlord of the property to choose the tenant out of the ones who pass the credit and reference checks who best fits the property. This could be that it is a family home or it could be that a tenant is after a long term home and the landlord is planning on selling the property after the next contract has expired.

Q. What do estate agents have to disclose?

Answer: Estate agents must disclose any facts that may affect a buyer or a seller's decision. The estate agent may also have to tell you about the property's problems that could affect its value.

Q. How do you find a good estate agent?

Answer: The best place to start is by looking around the area you intend on buying, or that you're selling in. More board usually means that agent has a large presence in the local area and can reach a larger amount of buyers or sellers. You can also ask friends and family if they have any recommendations for someone who helped them buy or sell a house.