A Real Estate Agent’s Obligations
Starting as a real estate agent is easy; it doesn’t require some specific qualification (at least not up till now). Also you don’t need to invest a lot of money. All you need to do is to assist your clients in buying or selling some property (home, shops, villas, and apartments) for a commission. Most of the clients are naive when it comes to dealing with real estate professionals; as a result real estate agents often get away without providing the complete set of services, they’re ought to provide. When you hire a property agent, you must be aware of the basic responsibilities that you should expect from your agent. Some of the standard tasks are …
Knowledge and compliance with Real Estate regulations and policies:
Every country has its own set of laws to regulate real estate sector, your property agent must be aware of these policies. For example, one of these laws is to treat all clients equally without any discrimination. In case a client feels that he/she has been mistreated because of their race, religion, color, gender or nationality, they can contact the concerned department and register a complain. Other important regulations include license, tax, purchase agreement and registration, etc.
Trust & Privacy:
A real estate agent is obliged to protect the privacy of its clients. You cannot disclose any part of the information without their consent; neither can you make use of that information for your own purposes. On the other hand, a property agent must not conceal facts related to a particular property; it is against the professional integrity of this particular business.
Relevant Statistics and Knowledge:
People hire property agents because they feel they are not experienced enough to carry out such deals, therefore a realtor must be an old hand in this industry. He/she should be able to offer ample experience and data for customer’s satisfaction. Their responsibility doesn’t end on showing the property for sale or rent with required specification, they are also responsible for guiding their clients in the best way possible. A property agent is required to help you with negotiations, home inspections, appraisals and agreements.
Difference between a buyer agent & seller agent:
There is not much difference between the basic responsibilities or the nature of the job, when we compare between the buyer’s agent and seller’s agent, except that they are working in different directions. However, the above mentioned obligations such as fair & respectful conduct, privacy, trust, and complete guidance apply on both types.