15 Major Duties of a Real Estate Agent
Although the term “real estate agent” generally refers to anyone who is licensed to facilitate the buying, selling, or renting of properties (land, buildings, houses, etc.), it still doesn’t define the variety of duties a typical real estate agent actually performs when practicing their profession.
A real estate agent’s role is not only to facilitate deals (buy, sell, and rent) but it is also to help their clients get the best deals from which the real estate agent is compensated with a commission (percentage of the amount of money used to close a deal on each property).
Many duties are performed before agreements are made, deals are sealed and closed. Each day presents real estate agents with different challenges and opportunities that require actions to be taken, and various duties to be performed. So, what is the role of a real estate agent? What does a real estate agent do? What is a real estate agent’s job description?
These are questions that anyone interested in becoming a real estate agent should have answers to before studying real estate, finding out how to become a real estate agent or getting a real estate license, and practicing real estate as a profession.
This article contains a list of 15 major duties real estate agents perform; the list has much in common with many job descriptions of real estate agents. After reading the list below, you’ll have a broad or general idea of the duties a real estate agent could actually perform on a typical working day.
15 Major Duties of a real estate agent are—but might not be limited to—the following:
1. To visit properties, inspect and appraise them, and present the same to clients or customers.
2. To advise property owners on how to make their properties gain attention or admiration, or become more appealing to potential customers.
3. To inquire from each client or customer what their expectation(s) is/are in regard to property.
4. To ensure that each property is in good or acceptable condition and appealing to clients or customers before scheduling property showings, and making presentations of properties to current or prospective clients or customers.
5. To find out about property on open listings, and update property listings for buying, selling, or renting on the local MLS (Multiple Listing Service), and ensure that property listings have photographs (inside/outside) and details about their location and features.
6. To draft and produce documents/paperwork for offers, closed deals, contracts, purchase agreements, or closing statements.
7. To network with real estate businesses (contractors, home inspectors, appraisers, mortgage lenders, attorneys, etc.) and potential clients, and schedule or organize meetings between customers (clients: buyers or sellers) when negotiations need to be made.
8. To work together with home inspectors, pest control inspectors, title companies, and escrow companies to ensure that properties are in good or acceptable condition before deals are sealed and closed.
9. To serve as an intermediary or negotiator in real estate negotiation processes which usually involve two or more parties.
10. To be current with real estate trends, best practices, and markets, and consult other professionals to inquire about the nature of real estate market conditions such as property prices, legal requirements, mortgages, and any other related matters.
11. To find or identify undeveloped land or areas and evaluate whether they have investment potentials or opportunities.
12. To produce and circulate promotional material or advertising campaigns on clients’ properties.
13. To organize closings on real estate property deals, and ensure that documents are signed and funds are disbursed.
14. To help negotiate the final buying, selling, or renting prices of properties.
15. To ensure that each real estate deal is conducted in a fair, ethical, and honest manner.