What Do Estate Agents Do?

Estate agents are responsible for handling transactions between buyers and sellers and letters and tenants. Anyone involved in a home sale or rental should consider hiring an estate agent. Estate agents are responsible to their respective clients for different services, depending on which side they are representing and in what type of arrangement.

Estate agents can help buyers find suitable properties. Buyer's agents can also offer you advice and help with the other aspects of purchasing a new home, such as advice on mortgages, insurance, and conveyancing. A seller's agent will help you determine the right asking price for your home. They will then advertise your home for you by first writing up the details accurately and taking pictures, then they'll place ads in newspapers, online, or in their agency. Some estate agents handle showing the property as well. Agents can also evaluate potential buyers to determine how likely they are to be able to purchase the home.

Some buyers and sellers choose to use the same agent to represent them both. When you do this, you can often expect to pay slightly less in commissions. On the other hand, some estate agents recommend that each party have its own agent to create a more competitive negotiation. This makes sense, as the respective parties have goals that are at odds, with buyers wanting to pay less and sellers wanting to earn more. An agent who represents both may not be equally motivated to get the best deal for both sides.

It is sometimes preferable to let a house or property instead of selling it. If you decide you'd rather maintain ownership of the property and have tenants live in it, you should consider enlisting the aid of a letting agent. Letting agents can handle some or all of the work associated with being a landlord, depending on the agent, which services they offer, and which services you choose to hire them to perform.

All letting agents will help you set a rental price and help find potential tenants. Letting Austin and Wyatt Estate Agents can also be responsible for vetting tenants for you, such as checking references and credit history. You can choose to work with an agent who will collect and deposit rent money, as well. If you aren't interested in handling the other landlord responsibilities, such as taking care of complaints and maintaining the property, some letting agents can also do this for you. Depending on the services you contract for, the letting agent can earn different amounts on the transaction, from a percentage of the rental cost each month to other additional fees. Many agents represent buyers, sellers, and letters so you can discuss your options with them before deciding how to proceed with your properties.