A real estate agent is a specialist who deals with the purchase, sale, exchange, and rental of residential and commercial premises; in other words, an intermediary between the seller and buyer (owner and tenant) of real estate.

Contents:

  1. Main Responsibilities of a Real Estate Agent
  2. Specifics of Real Estate Agent Work in Different Countries
    1. Russia
    2. USA
    3. Europe
  3. Legislative Regulation of Agent Work
  4. How to choose a good real estate agent: tips

The main qualities necessary for a real estate specialist are:

  • Organization
  • Communicability
  • Politeness
  • Stress resistance
  • Mobility
  • Creativity
  • Proactivity

Important factors in organizing profitable work for an agent also include proficiency in foreign languages, having a driver's license and a personal car, and confident use of a PC and other office equipment. Overall, a successful modern real estate agent is a specialist combining a wide variety of skills: a lawyer, economist, psychologist, and marketer rolled into one.

Main Responsibilities of a Real Estate Agent

Among the main responsibilities of a real estate agent are:

  • Consulting Clients

The agent advises real estate buyers and sellers on all legal and financial aspects of the transaction. They explain the specifics of contracts, assist with mortgage paperwork, and inform about the current real estate market situation.

  • Finding Suitable Options

A professional real estate agent continuously monitors listings and selects the most relevant options for their client that fully meet the requests in terms of location, area, and pricing.

  • Presenting Properties

The agent organizes viewings of premises, demonstrates the advantages of the properties, and presents information skillfully to spark interest from prospective buyers or tenants.

  • Negotiations and Transaction Support

At the final stage, the real estate agent negotiates pricing, terms of payment, discounts, etc. Afterward, they fully support the transaction completion up until the keys are handed off.

Thus, a professional agent significantly saves the client’s time and effort while maximizing the benefits gained from the deal.

Specifics of Real Estate Agent Work in Different Countries

The work arrangements of real estate agents can vary depending on the country.

Russia

In Russia, agents usually work at agencies and enter into agreements with clients on behalf of the company. Their main task is to search for options matching client parameters and arrange deals.

USA

In the USA, agents more often work as private entrepreneurs. They independently look for clients and offer services. Here, agents are more versatile and can represent the interests of both buyers and sellers.

Europe

In European countries, real estate deals involve the participation of lawyers and notaries. Agents deal with finding options and organizing viewings.

As you can see, the work system for agents in different countries has its specifics. But everywhere, their professionalism helps save time and effort when purchasing housing.

a real estate agent with a model of a house in his hands and papers on his desk

Legislative Regulation of Agent Work

Regulation at the legislative level of the work of agencies and real estate professionals around the world is carried out in different ways. In some countries, anyone can engage in real estate activities, and there are no special requirements for agents. At the same time, in some other countries, this type of activity requires appropriate education (taking courses, etc.) and licensing.

Also, the activities of realtors in many countries are regulated at the state level by special laws and bylaws. This is necessary to protect the rights of consumers and to establish uniform rules of work in the market.

For example, Russia has adopted the law “On Participation in Shared Construction,”  which regulates the relationship between developers and home buyers. Agents are obliged to follow this law. 

In the USA, there are state real estate laws and professional associations of agents (NAREA, NAR). Membership in such associations is often mandatory.

In the UK, there are government regulatory bodies, such as the Estate Agents Supervisory Authority, that regulate this area of service.

Thus, legislative regulation allows for a more civilized market for real estate agency services.

How to choose a good real estate agent: tips

To choose a professional real estate agent, adhere to the following guidelines:

  • Check out his credentials and qualifications. Make sure the agent has the proper license, certificates, and membership in professional associations.
  • Make sure the agent has experience with homes in your neighborhood. Find out how many years the agent has specialized in the local real estate market.
  • Check out reviews online at independent resources. This will help you form an objective opinion.
  • Evaluate his communication skills when meeting him in person. A good agent should make a pleasant impression and listen carefully to your wishes.
  • Ask questions about his or her experience with transactions with homes similar to what you are looking for. Real-life case studies are extremely important.

This approach will increase your chances of finding a responsible professional and successfully buying/selling real estate.

a real estate agent shakes hands with a client