What does a real estate agent do?

A real estate agent is someone who facilitates the transaction between the buyer and seller of a home, commercial property, or other real estate. In short, a real estate agent either sells properties or assists with the purchase of a property. Most agents manage everything from A to Z. There are different types of real estate agents, such as a selling agent, rental agent, buying agent, and appraiser. A real estate agent mediates and arranges contracts and sales agreements, acting as an intermediary.

There are four different types of agents you may encounter:

1. Selling agent
2. Rental agent
3. Buying agent
4. Appraiser

We explain the differences in the sections below.

Selling agent

When you want to sell your house, you hire a selling agent. A selling agent works to sell your house and takes over all the tasks that come with selling a property, making the process much faster. You are not obligated to hire a selling agent when selling your home. However, most people choose to hire one because it saves time and makes the process easier. This is because a selling agent has more expertise. Additionally, they have years of experience and know how to get the optimal price for your home. At IMMO Arie van der Lee, we have two selling agents: Arie and Dennis.

Tasks of a selling agent

A selling agent assists you in selling your home and ensures that the process moves more quickly. The first thing a selling agent does is determine an asking price. After setting the asking price, your home is prepared for sale, and a detailed description with photos is created to be placed on our website, as well as on Funda.nl. When a potential buyer shows interest and makes an offer, the agent manages the communication between both parties. The agent proposes a final offer, and when an agreement is reached, they draft a purchase contract. Once everything is arranged, the transfer is handled, which the notary organizes for you.

Buying agent

When you want to buy a house, you can choose to hire a buying agent. A buying agent helps you find a house that suits your needs perfectly. During negotiations, it’s highly beneficial to have a buying agent, as they specialize in negotiating on your behalf. Skilled negotiating by a buying agent can significantly benefit you when purchasing a property.

Tasks of a buying agent

A buying agent helps you find and purchase a new home. You can hire a buying agent at any stage of the buying process. Initially, a buying agent conducts research into your needs, preferences, and budget. They also organize and assist with viewings. During viewings, the agent carefully examines all the pros and cons of the property. If you are interested in a property, the agent advises you on making an offer. If you have already found a property and wish to negotiate the asking price, it is the buying agent’s responsibility to handle the negotiation for you. This also applies to the purchase contract. Once the negotiations are successfully completed, a purchase agreement is drawn up. The buying agent reviews the agreement with you and also checks the deed of transfer, which is drafted by the notary.

Rental agent

A rental agent is less common but very useful. A rental agent works for the landlord and takes on a variety of tasks. A rental agent looks for potential tenants and resolves any issues between the landlord and tenant. They handle many of the landlord’s responsibilities, such as advertising rental properties. When someone shows interest in a rental property, the rental agent checks their background, including their income, to minimize payment issues later. Additionally, the rental agent is responsible for drawing up the rental agreement and ensuring that both parties adhere to the rules.

Appraisers

An appraiser estimates the value of a property and produces an appraisal report. This report includes the value of the property and must be prepared by a certified appraiser. The report considers factors such as the type of property, its size and layout, nearby amenities, the property’s condition, and its location. With this data, the appraiser determines the property’s value.

How to become a real estate agent

If you are interested in construction, project development, and residential or commercial environments, an HBO degree in Real Estate and Brokerage is a great choice. To become a real estate agent, we recommend pursuing this degree, which trains you to become a real estate expert. A real estate expert has broader knowledge than a typical real estate agent.

The HBO Real Estate and Brokerage program is a comprehensive financial and economic study. During this course, you will study subjects such as real estate valuation, law, Dutch, urban geography, architecture, business economics, project development, and integrated area development. The following concepts play a significant role during this course:

Real estate management

During the program, you learn how to maximize returns on real estate as an investor. Investing is about buying products with the aim of selling them at a profit. The program teaches you how to invest in real estate.

Project development

Project development is the process of bringing together all the parties involved in developing a building to complete the project. In the HBO Real Estate and Brokerage program, you learn how to manage a project. A project developer takes risks and knows everything about laws and regulations. You also learn how to apply marketing during the project, and how to assess market risks related to the financial consequences of long-term development processes.

Architecture

Architecture encompasses all activities related to constructing and assessing buildings. In short, architecture is all the knowledge involved in building a structure. In the HBO Real Estate and Brokerage program, you learn to recognize, name, and apply architectural concepts.

Economics and law

You will learn about economic aspects of real estate and the tax implications of real estate management. Buying, selling, renting, or leasing real estate involves various laws and regulations. During the HBO Real Estate and Brokerage program, you study the legal aspects of contracts, permits, taxes, and building regulations.

How do real estate agents earn money?

The question of how much a real estate agent earns is often asked. It can be difficult to determine, as it depends on several factors, such as:

1. The level of education the agent has completed
2. The agent’s experience
3. The region where the agent works
4. The agent’s skills
5. The fees of a real estate agent are determined by the client.

The client can decide whether to pay the agent a fixed fee for services or based on a real estate commission. Payment based on commission means the agent receives a percentage of the sale price. Typically, a real estate agent’s fee is about two percent of the sale price.