Role of estate agent in selling a property

Role of estate agent in selling a property

The estate agent is the relationship between the seller and the buyer and he will negotiate a sale agreement that is acceptable to both parties. They will help you prepare your home for sale, set a price, decide on a sales strategy and negotiate with buyers. The estate agent charges a fee or commission for his service, which is paid by the seller. The commission to be paid can be exchanged and should be discussed with the estate agent at the beginning of the transaction. The commission is usually calculated as a percentage of the selling price.

An estate agent will know how to deal with legal, financial, and marketing issues appropriately. He has knowledge of various sales methods, financing options, valuation methods, construction procedures, and related property laws and regulations.
He will be familiar with the local real estate market, understand customer behavior and be able to communicate with people at different levels. The estate agent will protect his client’s interest to the best of his ability in relation to the interest of all other parties concerned. Buying a home should be one of the momentous events of your life. The estate agent plays an important role in ensuring the security of your large investment. Estate agents registered with the Estate Agency Board are governed by a code of conduct, the common law as well as certain provisions of the Estate Agencies Act. They can be enforced by the Estate Agency Board through disciplinary action.

If you are selling a property, an estate agent will be able to give you a special expert view of how much your home is worth. Assessing prospective purchasers to ascertain whether they are financially able to purchase his property and what their housing needs are. Advising a prospective purchaser on the suitability of the property for his needs, its general conditions, and whether there are any restrictions on the use of the property. Negotiate the transaction taking into account the needs of all relevant parties. Completion of the purchase offer, ensuring that the document is legally valid and reflects the needs and intentions of all relevant parties. Advising the buyer on how to finance the transaction and assisting him in organizing such financial transactions. Liaise with the lawyers involved in the transfer of property and assist them in expediting the registration process.

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