These are the Job Responsibilities of a Real Estate Consultant in New York & Los Angeles
The job responsibilities of a real estate consultant
is involved with many minor to major activities such as the first meeting with a client, market survey, offering a number of available listings, executing big transactions, etc. Obviously bigger the city, bigger is the market and hence the work of any active agent. So let’s detail the responsibilities professional agents need to acquire to prosper in a city like New York.
1. Keeping up with the market activity
Most agents tend to initiate their day by going through the last day’s market activity. A daily report is downloaded which lists all the buying and selling transactions, new listings, fluctuations in prices, and other important changes in market activity.
A thorough study of these hot sheets is good as it help you to spot new listings and assist the buyer you are dealing with. The buyer may also be interested in a property with price reduction. Studying these sheets on regular basis allows agents to perform some crucial market analysis. For instance, if there have been increasing number of sales for quite some time now with few new listings on board, it shows that inventory is declining and it could possibly result in higher prices or buyer competition if continued on regular basis.
2. Closing transactions
An agent involved in a deal or transaction has to take care of a number of action items, deadlines, deliverables, etc. An occupied agents gets the needed paperwork ready, coordinates inspections, review documents and contracts, and explain the terms and conditions to clients.
However, if you find manual preparing and going through a long to-do list manually, then try using technology to streamline your workday things or hire an assistant.
3. Working with prospective clients and buyers
Working with potential buyers not only means to drive them over to the property sites for inspections, but also calls for determining their needs and preferences to help them in their decision-making process.
Some real estate websites today provide agents with an IDX search option incorporated with a CRM system. When a buyer register him- or herself on IDX, you can view the area, price limits, and type they are searching along with the properties they are watching. Of course a valuable information for any agent!
4. Acquiring, keeping and servicing listings
Listings have always been the backbone in the real estate industry. To serve sellers to the fullest you need to have extensive market knowledge, marketing skills, negotiation tactics, and other related expertise.
5. Learning is a never-ending process!
Most states ask for a certain number of hours of education needed to renew a real estate license. However, for ambitious and successful agents no amount of education or learning is ever enough and would willingly go beyond to excel in other fields of real estate business as well.
6. Your knowledge authenticity and professionalism is the value you provide to a client
The amount of money involved along with the complications in a deal is what concerns any buyer or seller the most. A major turn on in interest for a client is the knowledge you possess.
A major chunk of an agent’s job consists of assisting clients in negotiations, preparing and reviewing contracts, inspections, closing of the deal, etc. So an agent needs to stay updated with the current rules and regulation of the state he/she is working in at all times.