A real estate sales representative is a person who helps people buy and sell homes and businesses. During sales, he or she may represent the interests of either the buyer or the seller, and in some cases, the same representative may work with both parties. Although regulatory boards in many countries run short-term vocational training classes, few colleges offer degree programs that prepare people to work in these roles.
A real estate sales representative may be asked to assist with the sale of a home or commercial property when the owner decides to put it on the market. In such cases, the agent may advise the property owner on a reasonable asking price before placing advertisements on real estate websites and in local journals and newspapers. Some of these people also promote properties in their own offices, where fact sheets with pictures, room descriptions, and amenities are prominently displayed. Typically, prospective buyers must submit bids to a real estate sales representative, who then communicates with the property owner before accepting or rejecting the bids.
Buyers frequently want to see properties before submitting bids, and the real estate sales representative is in charge of giving tours of the listed buildings and land parcels. A buyer’s agent will try to highlight the building’s most appealing features in order to increase the sale price. In most countries, it is illegal for a seller’s agent to withhold critical information that could influence a buyer’s willingness to submit a bid. Furthermore, many rules are in place to prevent these salespeople from making false or misleading statements in order to increase sales.
Buyer’s agents are real estate sales representatives who work on behalf of potential buyers to reduce home prices. These people can take their clients on tours of different properties and submit bids on their behalf. While a single person can represent both parties in a sale transaction, many people prefer to use two agents to avoid conflicts of interest, whether real or perceived.
Real estate sales agents in many areas are required to take a series of training classes that culminate in a licensing exam. Before working in the real estate industry, people must pass the exam. Following that, representatives are typically compensated through sales commissions, though some professionals also charge a retainer fee to cover their day-to-day expenses during the negotiation process.