What does a real estate agent do?

What does the work of a real estate agent entail?

Sometimes an agent hears an allegation (yes, you can call it an allegation, because what else?): , “You only showed the property and took a commission”.

Increasingly, we are gaining empathy for this kind of thinking, because it only stems from ignorance. A person who has ever delved into the profession or worked in it himself will never say so.

If they did, there would definitely be more real estate agents appearing on the market, and we are still looking for people to join our team. So if, after reading this text, you still think that the profession of a real estate agent in Warsaw is easy and pleasant, we invite you to join us. We will be happy to show you everything from the other side and expand our team.

We also invite people who want to take on this challenge and like to work 🙂

I recently read a comment from a gentleman under a real estate video, and overall I would like to focus on it. In response to this comment, I will tell you about the work of a realtor.

quote. ,,,,Za 50m2 apartment we want 380,000zł, which in our district is the average price. It’s the middleman taking the most average of these 2% will get 7600zł. I am a designer-constructor by profession, the price of a construction-construction project for a residential construction industry is now about 20zl/m2, and this is not a bad price. Even good. So for the design of a 50m2 apartment I get 1000zł taking full criminal and financial responsibility for my mistakes. Broker 7600 for putting up an ad, coming with a couple of people for half an hour, recording a notary and filling out a couple of receipts?!?!! Holy shit, I chose my profession wrong 🙂 ”

So is it really the case that a realtor puts up an ad, spends only half an hour to show the apartment to clients, talks to a notary and prepares a couple of receipts? And gets paid right away for that?

So what does a Real Estate Agent actually do?

STEP I

Let’s start with the first step the realtor takes. In order to find an apartment, house, apartment or plot of land, he spends a lot of time on it. The properties reported by clients are not always enough for all employees. It is also necessary to do one’s own work in finding properties for sale or rent.

After many phone calls to owners and time spent searching, the agent makes an appointment to view the property in question and talk about many aspects related to it.

STAGE II

This is a meeting usually inside the property.

There is a conversation about all the details (hypothetically) of the house. He checks all the documents. He is not always able to do this at the meeting place, so he takes the work with him. If he makes an appointment in advance with the owner and the property is prepared – he takes detailed photos of the property.

Very often he also arranges a film crew to shoot the film or does it himself.

This usually takes 4-6 hours.

STAGE III

Careful verification of the legal status of the property in question and whether the owner is the legal holder of the property.

Sometimes this also requires cooperation with lawyers.

STAGE IV

Property valuation. The price that the client gives regarding his property is not always consistent with the actual condition. It depends on a number of factors. Often we check the prices of offers on various portals and this is what we suggest. However, there is one small detail, the offers that are on portals are often already there for a long time – that is, the apartments have not sold. Agents have access to properties that are invisible to others. And the prices that are listed there are transaction prices. Which is tantamount to making it easier for them to price the property so that it sells fairly quickly and both parties are satisfied.

STAGE V

Prepare photos and a description of the property in question based on the data he got from the owner and insert ads various portals.

STAGE VI

Planning marketing and sales activities. It is not enough to add properties to all existing portals. You need to match a given investment to an audience and do it all with your head. If a given offer is on many portals and ,,hangs” there for a long time, it is not attractive to the audience.

STAGE VII

Contacting potential clients and making appointments and showing properties. There are really a lot of phone calls during the day, it is important to be as available as possible to respond to details relating to the offer at any possible moment.

By the time a property reaches its final owner, an agent may show such a house up to dozens of times in a month. These are hours spent commuting and showing the property. And all this costs money, not only time, but also money.

STAGE VIII

Negotiating with the parties and representing both sides of the transaction. This can be quite a challenge. The intermediary is anxious to make everyone as happy as possible. Sometimes the parties add various claims, which also need to be resolved in the most sensible way possible.

STAGE IX

Sale and preparation of all kinds of documents. From the moment of meeting with the owner until the sale of the property often passes a few months, sometimes even years. The sale is the penultimate stage, in which all documents are carefully checked so that both parties are satisfied and the law protects the seller as well as the buyer. People who are not familiar with the various legal cusses can overlook many aspects, which is why the Agent in such a transaction when he takes a commission from both parties – works to the advantage of both parties.

STAGE X

Assistance in the transcription of utilities and other agreements, as well as the transfer of the house.

In summary, the agent gets paid only after the deal is finalized. Sometimes one property takes up to a couple of years to sell. He spends a lot of time and money on marketing, fuel to show a given offer. He receives many phone calls and provides information. He is able to not make money on a given property for many months, while devoting many hours of work, sometimes not making any money at all. There are situations when the owner abandons the sale or does it on his own.

In addition, every realtor is also legally responsible for his mistakes and has legal liability insurance. Which is unequivocal that in case of a mistake, he is solvent. The work of an agent is certainly rewarding and allows you to meet a lot of great people, but at the same time it is incredibly stressful and requires a lot of work. This is why many people do not take up this profession. It is not enough to sit a few hours at work. The commission translates directly into the time and work that has been invested in a property.