glitterpunkrealtor blog
What Do Real Estate Agents Do?
July 15, 2024
To start us off much of how an agent does business really depends on the individual and their brokerage situation. Someone may decide to become licensed but doesn’t want to deal with owning or running a full business, or they may want to do it all and be a full service, multi-market agent. Or, they may choose a mixture of activities somewhere in between those extremes or go work for a builder directly.
There are agents who only choose to represent sellers or some that only represent buyers. Regardless of which activities are chosen by the agent, the income is primarily based on the close of a sale which can be as fast as 10 days or as long as 60 days.
Here are agent activities happening before, during and after the sale or lease transactions.
Getting hired
Show the prospective client the many ways you may be of service
- Offer price evaluation for existing home owners
- Show buyers where there are great deals available in the areas of interest
- Share lease information in the area for commercial clients
Checklist Categories
Agents do a lot to earn their commission. Here is a list of the various categories and then I share ten miscellaneous tasks most successful agents do all the time that is totally separate from any ongoing transactions with their clients. At the end of this post is a full list of all the tasks associated with each of the categories listed below to detail how an agent earns their business and commission.
- Pre-Listing Activities
- Listing Appointment Presentation
- After Listing Agreement is Signed
- Entering Property in MLS Database
- Marketing the Listing or Rental
- The Offer and the Contract
- Tracking the Loan Process
- Home Inspection
- The Appraisal
- Closing Preparations and Duties
-
Follow Up After Closing
- Miscellaneous
- Contributing to and participating in the community through groups, committees, clubs and events
- Providing helpful information about other home professionals and their provided services
- Connecting clients to home professionals
- Providing vendor recommendations
- Helping to reduce costs for those on a tight budget
- Constant general resource for all things real estate in their active market
- Consistent reading and training to stay abreast of any market changes and trends
- Watching the news, all of it - everything is connected to real estate and agents should have a general understanding of changes that may impact their clients
- Research and monitor market data - mortgage and interest rates, available inventory and time on the local market, neighborhood demographics and more.
- Managing marketing campaigns and social media channels to stay connected
Home Access
If you want to view a home on the MLS, you will most likely need a real estate agent to get you in the door. Additionally, there are sometimes tenants or home owners actively living on the premises with whom you need to schedule visits.
Consulting
Some folks want to chat about real estate. How’s the market? This is typically a free service, depending on the agent. While it isn’t as labor intensive as some of the other tasks, it is a valuable amount of time given to clients and prospects without guaranteed payment. Real estate agents should be ready and willing to talk shop with anyone who’s interested. You never know what may lead to a transaction and everyone is your customer whether you have a ongoing/upcoming transaction with them or not.
That forever long checklist I promised. You can open it in a new window by clicking this link:
Given Realty - Agent Tasks
Or keep scrolling to see all the things an agent may be up to for their clients!
Are you an agent? Did I miss anything? Please share!
Connect with me online? @glitterpunkrealtor
I am a local Las Vegas real estate agent. If you are in the Las Vegas area and need real estate help, I’m happy to be of service! Send me a text to schedule an appointment today. Or you may book an appointment online here.
