Estate Agents are responsible for negotiating sales and lets of properties both commercial and residential as well as conducting evaluations and marketing properties.
Estate Agents usually work for an Agency ranging in size and are responsible for the marketing, evaluation letting and selling of properties. They work to ensure they can get the best deal for their clients and aim to keep in line with market trends and market fluctuations. The role of an Estate Agent is varied and they can be involved at any point from arranging viewings right up to being in contact with solicitors to organise the legal sale. While graduate Estate Agents can also find themselves working on marketing to make prospective buyers or renters aware of the properties available for purchase or rent.
As an Estate Agent, graduates will be in an entirely customer focused role and required to communicate with a variety of people from prospective customers and clients to mortgage advisors, banks and solicitors. Another important thing for Estate Agents to have is an understanding of the market, house prices and the selling points of particular postcodes and the impact that might have on the price of the rental or home.
The work undertaken by Estate Agents is very target focused and results driven, allowing graduate Estate Agents to earn a lot of money if they are successful.
Estate Agent Salaries
The average starting salary of a graduate Estate Agent is £15,231. This might seem rather low for a graduate starting salary, especially when in a field that reportedly pays very well. However, this number does not account for the bonus and rewards structure that is in place in nearly all Estate Agencies. Estate Agents can watch their pay packets bulge as they secure deals and sales as part of their day to day activity. This is very common for positions in fields like Sales.
The Daily Duties of an Estate Agent
The daily duties of an Estate Agent vary depending on the properties they are managing. Estate Agents can easily find themselves at different points in the process of selling or renting a property and this means duties vary day to day. However, this should be embraced and graduates can find themselves working towards some exciting outcomes. Here are a few of the daily duties can expect to be doing as an Estate Agent:
- Conducting evaluations - Estate Agents are looked upon to give rough estimates of the price of properties and how they would fare on the market. This comes from a deep understanding of the trends, the impact of location and quality of property. Estate Agents perform this important task for landlords, sellers and prospective buyers. Graduates will develop these understandings over time and after undertaking training.
- Managing rental properties - Broken boiler? Leaky roof? Estate Agents can be called upon to see that properties being rented through their agency are seeing to the complaints of the tenants. This can be stressful work and involve a lot of go-between for the Estate Agent between the tenants and landlord. The best Estate Agents are able to see issues are resolved quickly and efficiently for the benefit of tenant and landlord.
- Marketing Properties - Marketing has become a large part of the Estate Agent's responsibilities. In a crowded and competitive sector of Property, Estate Agencies need to be heard. The range of marketing initiatives that Estate Agents might take advantage of could be anything from traditional local newspaper advertising through to social media and digital marketing initiatives.
- Negotiating - A large part of the daily duties might be relaying negotiations in prices between sellers and buyers, renters and landlords. This is requires the Estate Agent usually getting the best price for the buyer depending on the state of the market and property. However, it is also the responsibility of the Estate Agent to make sure they are doing all they can to sell or rent the property.
- Viewings - Estate Agents conduct viewings of properties for prospective tenants or buyers. Graduate Estate Agents should be aware that this might require them to work unusual hours and weekends. This is one of the most important aspects of being an Estate Agent because this can determine the success they will have, especially if they can close deals and secure tenancies.
Taking up the opportunity to start a career as an Estate Agent can be very rewarding. Graduates have managed to forge exceptional careers in this field, having found that they have the confidence, salesmanship and perseverance to claim up the ranks in this field. The role can be very fast paced and require graduates to use their perfect communication skills succinctly and effectively.