What does an Estate Agent do?
An Estate Agent provides clients with advice and assistance on selling and buying property for the best terms and prices. They determine what a client needs in a property and offer the best solutions depending on their financial options.
Estate Agents also conduct a comparative analysis of the property market to estimate the value of the properties. They take clients to view the property and discuss the conditions and terms of sale. They also draw up estate contracts for the clients to sign.
Estate Agent skills and qualifications
Estate Agents need to have a thorough understanding of property and the local area. Some of the skills and qualifications of an Estate Agent need include:
- Good sales and negotiation skills to finalize deals
- Time management, able to prioritize activities, and multitask
- Excellent interpersonal and communication skills
- Proficient with computers for drafting property sale documentation and preparing presentations
- Confidence when making important decisions
- Outstanding organizational skills to create scheduled timelines, schedules, and budgets
- Confidence and great presentation skills
Estate Agent experience requirements
An Estate Agent candidate should have at least 2 years working in a Real Estate role. They must be able to demonstrate a successful portfolio of property purchases and sales for clients. If you’re hiring an established Estate Agent, you may require them to bring a network of clients to the position. The best Estate Agent candidates have an extensive portfolio and proof of successful property management.
Estate Agent education and training requirements
Estate Agent candidates must have at least a high school diploma. Ideal candidates will have a bachelor’s degree in marketing, business administration, or sales and promotion. Candidates with relevant Real Estate or property management qualifications will be at an advantage. Estate Agent candidates must also have a real estate licence to work in their province or territory.
Estate Agent salary expectations
According to Indeed Salaries, the average pay of an Estate Agent in Canada is $105,073 per year. The actual amount may vary depending on their qualifications, work experience, location, and the hiring company.
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Estate Agent job description FAQs
What is the difference between an Estate Broker and an Estate Agent?
An Estate Agent is a professional who serves as an intermediary between sellers and buyers on the property market. They facilitate real estate transactions and ensure the signing of documents to finalize the deal. After sealing a deal, Estate Agents earn a commission, which is usually a percentage of the property’s selling price.
Brokers work independently and often employ Estate Agents. They usually have more training than Estate Agents and typically manage larger property portfolios and property deals.
Do Estate Agents have to work under a broker?
Entry-level Estate Agents usually have to start under a broker after getting their license. The requirements of the period working under a Broker may vary depending on the province or territory. The advantage of working under a Broker means that the broker will handle all the technical aspects of the agent’s transactions and the Estate Agent can learn from the established Broker’s experience.
How long does it take for a beginner Estate Agent to get clients?
It takes some time for beginner Estate Agents to build up their portfolio of clients. Beginner Estate Agents can benefit from having a mentor and relying on their Brokers connections.