If you’re studying a property degree at university, interested in switching profession or just have a passing interest in the property industry, it’s important to know just what an estate agent does during their working day. However, it is becoming tougher and tougher to detail the archetypal shift of an estate agent as the role is never the same each day.
As a result, those looking for a ‘routine’ job may be left disappointed but for those wanting a challenging, exciting role that pushes your skills to the rest – read on!
First of all, estate agents who are starting their day from the office will usually be called into a meeting by the branch manager at around 8.30-9.00am. The morning meeting gives agents the opportunity to discuss new properties, give updates on existing transactions and chat about any other news that agents need to be aware of. Following the meeting, your day as an estate agent is ready to begin.
Pick up the phone
After the meeting, your morning will mostly be spent phoning or receiving calls from various applicants and clients who are going through different stages of the buying or letting process. For instance, your morning may start with a phone call from an applicant looking to buy a property advertised in your branch. This could indicate that you may be out of the office very soon after the morning meeting as the prospective applicant will want to view the property.
As well as receiving incoming calls and requests, estate agents tend to make outbound calls to solicitors and landlords in order to establish what stage of a sale or letting the branch has reached. This could involve drawing up or finalising contracts with landlords and buyers or making a client aware of a higher bid on an up-for-sale property, for instance.
At the heart of the role, being an estate agent is all about building and developing relationships with new and existing customers. Communication skills are absolutely vital in this industry so if you wish to become an estate agent, it is essential to start working on your relationship building and your sales pitch.
A large amount of an estate agent’s time will involve the hard sell – selling a property, selling a fee, selling a viewing, selling a contract. Agents need to make a property, fee or contract sound attractive to the buyer in the hope that the figures offered will prove suitable to the buyer. As a result negotiation skills, alongside communication skills, are essential.
It is during a property viewing that these skills can be deployed as it is essential to build a rapport with applicants. So, remember the would-be buyer who phoned us earlier in the morning? It is time to show them around a property.
Viewing and selling
This is the point in the day where you can really hammer home the positive aspects of a property to an applicant in order to make that all-important sale. Viewings will take up a large slice of your day and they are arguably the most important aspect of the job, making it essential that estate agents are ready for the challenge.
After showing the applicant round, he or she will either indicate they are ready to make an offer or require a viewing of a different property. This is where the negotiation skills come into play as fees and prices are discussed between all parties. Once an offer has been accepted, it will be your responsibility as an estate agent to secure the transactions and see the process through to the exchange of contracts which could involve a lot of liaising with solicitors, surveyors, the buyer and the seller…
…and that is just one day! It is fair to say that being an estate agent is a mentally and physically demanding role but ultimately a rewarding one. Helping applicants buy the home of their dreams can leave estate agents on an unparalleled high.
If this sounds like the career of your dreams then maybe it is time to start training to be an estate agent.