There are a number of parties that play an important part in facilitating the purchasing of any property.
As a mortgage adviser, you will have a pivotal role in helping people to attain their dream home by establishing how much they may be able to borrow. However, the would-be buyer must first find that property, which is where the support and guidance of an estate agent comes into play.
What is an estate agent?
The primary role of an estate agent is to negotiate prices, market and ultimately sell properties for their clients. They are required to have a vast knowledge and understanding of the local area, including the value of homes and property types, in order to best advise any potential customer.
Duties and responsibilities
Every day will be different, depending on the customers seen and whether they are buying or selling. However, the main duties and responsibilities of the estate agent include taking potential homeowners to visit properties for sale, as well as working with both buyers and sellers in negotiating a mutually acceptable price.
Some of these professionals also act as letting agents for rental properties, meaning they would deal with ensuring that rent was paid by tenants, that the properties were appropriately maintained on behalf of the landlord, and make arrangements for appropriate energy assessments and property surveys.
Estate agents will also market the properties of those wishing to sell, which involves viewing them, noting its measurements and taking supporting photographs.
There is a standard scale of progression, with most would-be estate agents beginning as a sales negotiator. They then work alongside experienced colleagues to learn and develop within the role as they go. There are also some qualifications that are industry recognised, such as NVQ level 3 on related topics.
Desirable skills and qualities
A key attribute that estate agents must have, as with mortgage advisers, is to possess exceptional people skills. The ability to communicate with people to ascertain their needs is vital, meaning that they can then provide customers with the most suitable solution.
Estate agents should also have an organised and methodical approach to work, and know their way around a computer. While these professionals must have a strong interest in what is happening within the property market, they also have to keep an eye on sales targets, usually by retaining a positive attitude when working to set deadlines.
By understanding others in the property chain, you will be in a better position to fully advise your mortgage clients.