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How Do Real Estate Agents Find Houses To Sell – What does a real estate agent do? Oh, where to begin. Trying to explain to the public how real estate agents spend their time is similar to explaining what a doctor or lawyer does all day. There is much more that goes into “treating patients” or “handling legal matters” and the same goes for “helping people buy, sell or rent property.”
From a consumer’s first thought about making a real estate move to actually taking the leap (whether that means right now, next month or three years from now), the agent is incubator, initiator, action-taker, coordinator, scheduler, personal concierge , middle man, problem solver, mediator, miracle worker, red-taping cutter, transaction manager and chief make-it-happen officer of everything else that doesn’t fall into the previous categories.
How Do Real Estate Agents Find Houses To Sell
They may delegate some of these roles, but nothing is completed without their oversight and input into what needs to be done and how.
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A real estate agent is anyone who is licensed to help people buy and sell commercial or residential property. A Realtor is a trademarked term that refers to a real estate agent who is an active member of the National Association of Realtors (NAR), the largest trade association in the US.
An agent has a workday like anyone else, but there are typically little to no boundaries to the agent’s day and week. Here’s how an agent’s work day often goes:
There are no official days off in real estate. You may have spans without any scheduled appointments, but there are
Agents are “on” no matter where they are. In our instant response society, there really is no waiting until tomorrow.
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If a consumer contacts them about a property, they respond. If other agents contact them to ask questions about their listing or want to show one of their properties, they get back to them.
If they get an offer, they work on it regardless of the day, place and time. There is no stop-and-start in this business.
Despite what people may say, it’s almost impossible to shut down communication, ever. The workplace is anywhere an agent is and this does not mean that agents have to go to an office for the day to start – work happens at home, in the car, during vacation and on the go.
The work often begins early in the morning or the night before managing emails and follow-up communications – phone calls and texts about any number of things from showing feedback on listings, following up on transactions in progress and creating to-do lists for Assistants and staff.
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Agents review MLS activity for any pertinent listings and updates on properties of interest to their buyers and sellers (competing listings, price changes, under contracts, back on the market, off the market or sold, etc.) and notify Their clients about relevant information.
Agents must regularly update their contact databases with new customer information, updates to existing customer contact information, birthdays and new-home anniversaries, and more.
Agents put together property itineraries for clients planning a house-hunting trip, which can involve many showings in a short period of time.
Scheduling these tours requires a delicate dance that takes into consideration geography and logistics against the backdrop of unknown time constraints that sellers may impose. (“Can you come at 2:00 instead of 10:00?” or “Today is not good, but how about Friday?”)
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The impromptu changes in plans wouldn’t be a problem if agents didn’t have anything else to do, buyers had the luxury of time
And Murphy’s Law says that the property that causes the scheduling difficulties will be the one at the top of the buyers’ wish list. Agents have to find a way to make it happen.
Agents reach out to establish initial contact, discuss real estate needs and provide market advice to customers who have just referred them.
They conduct in-depth research on possible options for buyers and dive into market comparisons to get an idea of what sellers’ homes can realistically sell for.
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Then there are the appointments – meeting buyers and sellers for initial discussions, previewing and touring properties, meeting inspectors, appraisers and a host of specialists, contractors, stagers, photographers and repair professionals.
Agents will often be juggling meetings with the sellers from six months ago who call and want to meet right away—or the inactive buyer couple who suddenly found the perfect home they need to see this minute.
Negotiating offers can take days or weeks. Once an offer is worked out and a property goes under contract, that’s just the beginning. There is no jumping up and down, high-fiving and laughing all the way to the bank. Quite the contrary, this is where everything can go wrong.
At this point, agents have to make sure that everyone involved in the process is doing their job. From whichever side of the transaction they represent – buyer or seller – agents need to make sure that everyone is fulfilling their obligations of the transaction in a timely manner.
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Agents check in with the title company or attorney’s office to make sure the file is handled and all details and nuances are attended to. They also address something unexpected that may arise – a closing that needs to be mailed to the seller, or a situation in which a power of attorney needs to be present because one of the buyers will not be.
There are an endless number of tasks that agents must ensure are carried out from contract to close, from reminding clients about utility transfers to ensure that the seller has everything moved on the day when the buyer legally takes possession.
Problem solving and crisis management happens at every turn. This includes educating clients about the realities of what they are trying to accomplish; run down information about a community, association or property; or troubleshooting many potential issues that could derail a property search, transaction or closing.
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Unlike many jobs, no two days are the same. One week may be plagued by multiple snags (a buyer’s financing falling apart, home inspection issues, etc.), and on another day, it may all come together in an incredibly smooth manner. But never fear; in this business , the other shoe is always about to drop.
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Speaking of the other shoe dropping, there is no guarantee that the time spent and the hours put in will result in a paycheck.
Agents cannot account for the time and effort they spend providing advice and information, showing properties, attending showings, creating and hosting broker and consumer open house events and more.
The buyer can never buy; The seller can never sell, and the agent’s paycheck is affected by other people’s circumstances and decisions.
The enthusiastic buyer may have work transfer fall through. An unexpected medical situation can set up a house hunt for someone else. Or a couple of sellers may suddenly decide they love their house more than they did before.
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The agent – if he or she is lucky in these cases – will get a “thank you.”
Then, the marketing and business development agents pour in their brand, knowledge and expertise. The website, newsletter, postcard, video or other marketing (social media posts, custom property ads) do not appear out of thin air.
Agents devote thought and resources to each marketing piece with an eye to implementation, execution and tracking results at every turn.
In short, real estate is a profession full of follow, follow, follow; multi-tasking; prioritizing, re-prioritizing; juggling; Figuring out how to be in three places at once; Evaluating, advising and coaching; hand-holding; research and problem solving; and responding.
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Despite what reality TV portrays, agents don’t just drive around in expensive cars or have their private chauffeur take them to unlock a door. They don’t show up in designer clothes at some swanky venue to negotiate a deal over trendy cocktails.
It may be glamorous and easy, but showing a buyer properties or putting a home on the market happens sometime in the middle of a very involved process.
Marketing, branding and creating a top-of-mind presence usually comes first, and these are the things that motivate customers to choose an agent.
In order to obtain a real estate license, agents must complete a certain minimum number or classes and pass an examination prescribed by the state. State licensing requirements vary.
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According to the Bureau of Labor Statistics, real estate licensing applicants must complete anywhere between 30 and 90 hours of classroom instruction from an accredited college, university or technical school, depending on the state.
Applicants must also pass an exam that covers national as well as state and local real estate law, standards and practices.
All real estate agents must pay an annual licensing fee and renew them every one or two years, depending on the state. In some states, agents may have to complete a certain amount of continuing education courses before their licenses can be renewed.
Process of buying, selling or renting a property; And from that perspective, they help keep the economy moving in every sense of the word.
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Cara Ameer is a broker associate and Realtor with Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Florida. You can follow her on Facebook or Twitter.
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