Some estate agencies that specialize in the sale or leasing of industrial, commercial or agricultural properties. However, at Property Power, we only concentrate on estate agents who specialize in residential properties and property sales.
What is the role of the estate agent?
The estate agent acts as the intermediary between buyers and sellers and negotiates an agreement that is which is agreeable for both parties. The Offer To Purchase will be written by an estate agent that must be executed by the buyer, the estate agent and the seller.
In exchange for his services the estate agent will charge the buyer a commission or fee that will be paid out by the buyer. The commission is a matter of negotiation and should be discussed by the estate agents prior to the time of the deal. The commission is typically calculated by dividing the price of sale.
What are the benefits of working with an Estate agent?
An estate agent knows how to address marketing, legal and financial questions in a way that is appropriate.
He should also be aware of different sales methods as well as financing options and valuation techniques and construction practices as well as relevant legislation and rules governing property.
He should be well-versed in the local market for property as well as the consumer behavior and be competent in communicating with others at all levels.
A Tunbridge Wells estate agent will defend the interests for his clients to his best abilities while taking into consideration the interests of the other parties involved.
The purchase of a property is likely to be the most significant investment you ever make. Estate agents play a crucial role in ensuring security of your investment.
Responsibilities of Estate Agents
in the terms of a prospective Buyer (or Lessee) )…
Honesty and fair and ethical conduct.
The buyer must be qualified, i.e. collecting details about the buyer order to present him to the perfect house.
Presenting properties selected to the purchaser.
Contacting the potential buyer.
Assistance to the buyer in making an offer.
Helping the buyer obtain financing.
After-sales service.
Always adhering to the ethical and legal obligations owed to potential buyer, as governed through the Estate Agency Affairs Board, i.e. the duty to not commit fraud or conceal relevant facts, the obligation not to harm the interests that of the purchaser, the responsibility to conduct business with a sense of responsibility and skill, the obligation not to make discriminatory remarks against buyers and the duty to be ethical in the handling of trust funds, the obligation not to misuse or illegally divulge sensitive information.
In the Terms of a Seller (or Lessor) )…
In general, an estate agent’s client is usually a seller or a lessor of a home. The role of an estate agent is to present an able and willing buyer to the property of his client, however, he can also guide sellers throughout the sale process:
Informing him of the worth of his home;
Selling his property efficiently;
Inquiring about prospective buyers to determine whether they have the financial capacity to afford the house and what their requirements for housing are.
Informing prospective buyers about the appropriateness of the property to his needs as well as its general terms and conditions, and whether there are limitations regarding the usage of the property.
In negotiating the transaction, take into consideration the needs of all parties involved;
Filling out the offer for Purchase document, ensuring you are sure that it’s legal and accurately reflects the needs and the intentions of all parties concerned
Informing the buyer about financing the purchase and aiding the buyer in arranging for such financing;
Assisting the conveyancing lawyers in who are responsible for the transfer of property, and helping them accelerate the process of registration.
