Some estate agencies that specialize in selling or letting agricultural, industrial, or commercial properties. However, in Property Power, we only concentrate on estate agents who specialize in residential selling and letting of properties.
What is the role of the estate agent?
The estate agent acts as the bridge between buyer and seller and will negotiate an agreement for sale that is that is acceptable for both parties. The Offer To Purchase will be written by an estate agent that must be signed by the buyer the estate agent and the seller.
To provide his services the estate agent will charge the buyer a commission or fee which can be paid to 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 the services of an estate agent?
An estate agent knows how to handle marketing, legal and financial concerns in a proper manner.
He should also be aware of various sales techniques and financing options as well as valuation methods, construction methods and pertinent property laws and regulations.
He will be knowledgeable of the local market for property know how consumers behave and be competent in communicating with others at all levels.
Estate agents will safeguard the interests for his clients to his best abilities while taking into consideration the interests of all other parties involved.
The purchase of a property is likely to be the largest investment you’ll ever make. An estate agent is a crucial part in ensuring the safety of your investment.
The Estate Agent’s obligations
In the context of a prospective Buyer (or Lessee) )…
Honesty and fair and ethical conduct.
The buyer must be qualified, i.e. gathering details about the buyer in order to show him the right property.
Presenting properties selected to the potential buyer.
Contacting the potential buyer.
Helping the buyer make an offer.
Helping the buyer obtain financing.
After-sales service.
In full compliance with the ethical and legal obligations owed to prospective buyer, which is governed through the Estate Agency Affairs Board, i.e. the duty to not lie and the obligation to provide relevant facts, the obligation not to prejudice the interest that of the purchaser, the responsibility to act with care and skill, the obligation to not discriminate buyers as well as the obligation to act ethically when it comes to the transfer of trust funds, the obligation not to misuse or illegally divulge sensitive information.
The Terms of a Sale (or Lessor) )…
The typical Tunbridge Wells estate agent‘s client can be described as 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 owned by his client but he also assists sellers throughout the sale process:
Informing him of the worth of his home;
Effectively marketing his property;
Examining potential buyers to determine whether they can afford to afford the house and what their needs for housing are.
Informing prospective buyers about the potential property’s suitability to his needs and its general conditions, as well as whether there are limitations regarding the usage of the property.
In negotiating the transaction, take into account the interests of all parties involved;
Filling out an Offer for Purchase document, and ensuring it is legal and is in line with the requirements and intents of all parties concerned
Helping the buyer to finance the purchase and helping him in arranging the financing;
Assisting the conveyancing lawyers in who are responsible for the transfer of property, and helping them accelerate the process of registration.
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