Tag Archives: Responsibilities of Estate Agents

List of 5 Things that all the Estate Agents are Responsible for!

An estate agent is a person who doesn’t only sell the property of the client but assists in other multiple ways too. Sellers and buyers hire agents for locking the best property deals which might not be possible if they do this work on their own. Well, there is a competition among agents too and if they want to excel in the career then fulfilling the obligations is definitely mandatory. So, here is the list of things without which agents cannot make a prominent position.

  1. Do the Property Appraisal!

The appraisal of the client’s property is the duty of estate agent as most of the time; this is the main purpose for which sellers hire agents. Well, the property analysis should include:

  • Whether Liens or zoning issues exist
  • Property presentation and condition
  • Market value
  • County Appraisal Value VS Purchase Price
  • Cap Rate (NOI to Asset Value)

 

  1. Market the Property!

The estate agents are liable to market the property in the best way. So, whether it is about writing an attractive property description or printing the banners, the complete work should be done by agents. Well, it is also crucial for all agents to polish their skills and comply with the standards while providing services to clients. The qualified estate agents in W1 hold great expertise and run unique and successful marketing campaigns for their clients which ultimately help sellers to lock the best quotation.

  1. Tax Assistance!

As an estate agent, you’ll have to assist the clients pertinent to all tax matters. You must know that if the client is going to sell a business property, land, or buy-to-let property then he will have to pay Capital Gains Tax. Well, the buyers also pay Stamp Duty Land Tax if the value of the property exceeds over a certain limit. There are different rules of tax for various types of properties and as the sellers or buyers usually lack knowledge so it is a responsibility of the agent to guide in a proper way.

  1. Do the Paperwork!

The paperwork proves complicated to many sellers however the estate agents provide assistance in this regard and complete the paperwork right according to the rules. The residential sales process is basically regulated by Consumer Protection Regulation and so the rules should be followed accordingly. Well, when an agent is hired, he is entitled to play his role until transferring the property’s ownership.

  1. Follow the Rules!

The estate agents may lose the membership or get their certification cancelled by regulatory bodies in the case of violating the rules. So, every estate agent should make sure to get himself involved in fair property deals only.