subject: Understanding The Responsibilities And Charges Of The Real Estate Agent [print this page] When you are planning to sell your house, the primary task is to find a buyer. For this, you have two options to do it on your own or to utilise the services of an estate agent. If you have too little time for this, or have no idea how to handle the different steps involved, you had better opt for professional help. You would also need the services of an agency to make it a hassle free experience. The agents specialisation, experience, and reputation are the chief factors to consider before choosing any specific agent. It is necessary to have a clear idea of the responsibilities and charges of the real estate agent/agency before you choose them for the task.
When you are selling house, your agent and your solicitor are two important professionals you need to look to for advice and guidance. While the agent helps sell the house, the solicitor helps ensure that the legal requirements are taken care of properly. The responsibilities that the estate agent handles vary from one to another. However, the major ones include the following:
1. Visiting the house and advising you about the asking price are necessary tasks that your agent needs to handle. Make sure you compare prices of similar properties in the neighbourhood before you decide on this.
2. Preparing the details of the property for prospective buyers is preceded by a thorough inspection of the house. This would include the number and dimensions of rooms, the fittings and fixtures, and such others.
3. Advertising the property using different channels involves preparing brochures, exhibiting photographs, providing video tours, and such others. Consider getting the details of how the agent would advertise the house before you utilise their services.
4. Conducting tours of the property with prospective buyers and pointing out the advantages of selecting the house is also the responsibility of the agent. If you have the time and opportunity, you may handle this on your own as well.
Another important thing to consider before getting the services of an estate agent/agency is the fees they charge. The agent/agency that advertises a property for sale often has a specific fee structure associated with the services they provide. In most cases, it is a percentage of the selling price of the house. However, before you enter into an agreement with the estate agent, you need to find out the details regarding this. It is also necessary to consider whether associated costs are within the fees the real estate agent charges for marketing the house for sale.
Advertising a property for sale involves certain costs. The signboard saying For Sale, the advertising costs, the taxes applicable, and such others are within this category. Before you sign a contract with the real estate agent, it is best to enquire whether the commission payable at the end of the sale would cover these costs. If these are additional charges, then you need to include these in the costs as well. This would be helpful in avoiding any hassle with the charges at a later date.
