Estate agents are those that specialize in selling or letting industrial, commercial or agricultural properties. However, at Property Power, we only concentrate on estate agents that specialize in residential selling and letting of properties.
What is the role of a Tunbridge Wells estate agent?
The estate agent acts as the intermediary between buyer and seller and negotiates an agreement that is that is acceptable for both parties. The Offer To Purchase will be written by an estate agent which is signed by the buyer estate agent, and seller.
To provide his services the estate agent is charged an amount, or commission that 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 in percentages of the sale price.
What are the benefits of using the services of 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 various sales techniques as well as financing options and valuation techniques and construction practices as well as relevant legislation and rules governing property.
He will be knowledgeable of the local market for property as well as the consumer behavior and be competent in communicating with others at all levels.
Estate agents will defend the interests for his clients to his best abilities while taking into consideration the interests of the other parties in the process.
A property purchase is most likely the largest investment you’ll ever make. Estate agents play an essential part in ensuring the safety of your major 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. gathering details about the buyer in order to show him the perfect property.
Presenting properties selected to the potential buyer.
Contacting the potential buyer.
Assistance to the buyer in making an offer.
Assistance to the buyer in obtaining financing.
After-sales service.
In full compliance with the ethical and legal obligations to a 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 prejudice the interest for the buyers, the obligation to conduct business with a sense of responsibility and competence, the duty to not discriminate buyers and the duty to be ethical when it comes to the transfer of trust funds, the obligation not to misuse or unlawfully release sensitive information.
The Terms of a Sale (or Lessor) )…
The typical estate agent’s client is usually a seller or a lessor of a home. The role of an estate agent is to present an interested and capable buyer or lessor 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 buy the property, and what their requirements for housing are.
Informing prospective buyers about the potential property’s suitability for his requirements and its general conditions, as well as whether there are limitations regarding the usage of the property.
The negotiation process, taking into account the interests of all parties involved;
Complete 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 helping him in arranging the financing;
Coordinating with conveyancing attorneys involved in the transfer of property, and helping them speed up the process of registration.
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