What does a real estate agent do? This can be hard to explain how agents spend their time assisting the client. Much goes on behind the scenes that their clients may not see, but yet the clients reap the benefit of this work in many different ways. Our job is to make sure everyone involved is doing their job. Also having to adapt to client needs as they change.
Typically there are no set days off. My job is not 9to5 by any stretch of the means. I am always on call regardless of where I am because someone may make an inquiry. My office is mobile.
Agents don’t bill for the time and effort they’ve spent showing properties, attending showings for Seller’s, Open House events, or giving advice and information, and more. The seller may decide they no longer wish to sell. The agent’s paycheck is affected by these events due to the decisions of others. Many things could happen that change the trajectory of a transaction from ‘It’s Sold!’ to ‘We changed our minds.’ A typical transaction can take 2-3 months before an agent receives compensation.
Let’s look at some of the duties and activities of an agent working with sellers:
- Supply sellers with accurate home sales through the local Multiple Listing Service and other market conditions for sellers to determine their set price and a selling strategy.
- Planning the marketing for seller’s listing, e.g., my personal monetary resources go in too many of these: Photoshoot, Postcards, Videos, **Personal listing website for the home, Newsletters, Flyers, Property ads, etc.
- Market the home in social media, print and other internet resources. Share the listing among colleagues first.
- Maybe the seller is out of state or incapable of and in desperate need of assistance such as cleaning the home, making minor repairs, tidying up. I have performed these tasks for clients in the past only because it was faster for me to take care of the problem for them rather than to delegate it. **Doing so has repercussions for me. If I were to break something, then I have to fix it. But I do choose the tasks that best suite my comfort level and knowledge.
- Assist the sellers in staging the home. Staging doesn’t have to be expensive or cost any money at all most of the time. See my article on Home Staging Tips.
- Host an open house, if the seller wants one.
- Report back to the sellers on all interest and give feedback from those buyers that viewed the home.
- Plan/supervise sellers showing per their request. Maybe the sellers wish for me, or a colleague to be present during a showing.
- Work through negotiations and counter-offers with the sellers to get the price they want. Review the buyer’s ability to purchase. Are they a strong buyer? The last thing a seller wants to do is take their home off the market only to have a transaction fall apart due to the buyer’s inability to purchase. This is time lost for the sellers.
- After an offer is accepted, coordinate with buyer’s agent on scheduling all home inspections and appraisals. Convey all these times and dates to the sellers so they may prepare for their absence during inspections.
- Promptly deliver all documents and explanations to the sellers.
- Deliver possible backup offers if received.
- Work with them through the closing and getting their keys.