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Estate agents sell or let residential or commercial properties, businesses or land on behalf of their clients. They look at the property's condition and compare it with others in the area to value it and get the best price for the client. They also market the property and negotiate on deals.
Residential estate agents deal with the sale and purchase of houses, flats and land. Many also manage rental properties. Commercial estate agents deal with a wide range of business properties including offices, shops, leisure facilities, hotels and restaurants. Rural estate agents specialise in land and rural businesses.
Estate agents often have to liaise with banks, building societies, mortgage brokers, surveyors, solicitors and other estate agencies during transactions.
- marketing and promoting properties for sale;
- act as a property manager and resolve any issues that arise with properties.
- representing the sellers in negotiation with prospective buyers;
- collecting information about a property and arranging for photographs to be taken;
- visiting and talking to the sellers about their property and its special features;
- estimating the value of the property;
- monitoring sales as they proceed and liaising with all interested parties including mortgage brokers, solicitors, surveyors and other estate agents;
- vet prospective tenants by collecting references and carrying out credit checks;
- ensure properties meet legal and health and safety requirements, e.g. gas safety certificates;
- advising clients and helping buyers to decide what they want to buy;
- making sure that a price is agreed that is acceptable to both buyer and seller;
- keeping up to date with trends in the local residential property market, as well as the commercial market.
- draw up tenancy agreement contracts;
- collect or organise rent payments;