MonthNovember 2019

How Real Estate Agents Work and What to Know About Them

Nowadays, more than half of real estate buyers start searching for a house or flat via the Internet and end up working with a real estate agent.

However, just because the search for apartments starts online does not mean that buyers are not seeking help. In fact, as much as 52% of recently purchased real estate was purchased through a real estate agent or broker. These data come from the report “How Poles Buy Flats” published by Gumtree.

So how does a real estate agent work? What can we expect from him? Let’s look.

What can you require from a real estate agent?

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Real estate agents go through the state course of the Polish Real Estate Federation and receive a license to participate in transactions on this market. A real estate agent can put properties up for sale, help buyers go through this process, show homes to potential buyers, and take care of the various transaction formalities.

Mostly, however, real estate agents are usually expected to sell the property they present. So if you sell, you expect a realtor to include your home in their ads. He should take attractive photos and publish them on the web.

Some real estate agents are sometimes unique buyers’ representatives. That is, they work only on behalf of those who want to buy. Thanks to this, you know that there will be no conflict of interest because the agent will not act on both sides of the transaction.

How can a real estate agent help you?

How can a real estate agent help you?

There are several things you can expect from a real estate agent:

  • Help in finding a lender who will be able to provide you with the initial decision to buy a home.
  • Help in finding a home that suits your needs.
  • Establishing contacts with professionals such as building inspectors and property appraisers.
  • Negotiating an offer on your behalf (regardless of whether you are buying or selling)
  • Communicating with other bidders during the sale
  • Help in getting through the mortgage loan process.
  • Advice on proper home valuation for sales.
  • Marketing of real estate on behalf of the seller.
  • Checking potential buyers
  • Attending home visits on behalf of sellers
  • Real estate agents generally represent their clients in the process of buying or selling real estate. Intermediaries cannot force you to do anything you don’t want to do. They still need to get your consent to proceed with the offers.

Why is it worth finding an experienced real estate agent?

Why is it worth finding an experienced real estate agent?

If you want to buy a house or need to sell your current property, this is the moment to use an experienced real estate agent. An inexperienced agent can cost you not only time and money, but unfortunately it can even put you at risk of losing a perfect transaction.

Many inexperienced agents leave because of money

The number one reason real estate agents leave the ranks of agents is that they don’t earn enough money. The median salary for a real estate agent in Poland is less than PLN 2,900 per month.

Although specialists advise new agents to store 6 to 12 monthly salaries in reserve, few listen to this advice. This industry seems to be very easy for outsiders, but real estate is complex and time consuming, and the average is usually not prepared to succeed in this business . Unfortunately, many of them find out about it after many months without payment.