Working In An Estate Agency

Choosing to be employed as an estate agent means that you will typically either specialise in letting or sales of commercial or residential properties, land, or businesses on the behalf of your current clients. It is your duty to not only value properties, but to also market them, ensuring that you get the best negotiable price for your client. As an estate agent, it would be part of your role to frequently liaison with mortgage brokers, building societies, banks, solicitors, surveyors and even estate agencies over the duration of a transaction. It might also be necessary for you to handle sales of properties via auction.

Estate Agent Types

Typically, you will be able to specialise in any of the following areas of estate agency:

  • Commercial lettings
  • Commercial sales
  • Residential lettings
  • Residential sales
  • Rural estate

Responsibilities

You will be required to do the following as an estate agent:

  • Collect information concerning a property
  • Arrange for said property to be photographed
  • Determined an estimated value of properties
  • Act as standing for the property sellers when negotiations with prospective buyers are taking place
  • Visit and speak with sellers in regards to their property, as well as any special features it might have.
  • Promote and market properties that are put up for sale
  • Monitor the sales proceeding, as well as liaise with every involved party, especially solicitors, mortgage brokers, surveyors and more.

Working hours

It might be necessary to work anywhere between 30 to 40 hours a week, however, it is important to know that it can get much longer than this, particularly when a deal is just about to be wrapped up. There are also chances that you might have to work unsocial hours such as Saturdays and some evening. It is possible to engage in freelance work and self-employment and that experience you gain can cause you to create your own realty. 

Things to expect

you should understand that while your work is based in an office, you will be required to spend quite a lot of time checking out properties, for marketing opportunities and valuations, or with potential new owners for viewings. Considering just how much travel is possible within a working day, it might be necessary to have a fully functioning driver’s license. You will also have to be smartly dressed.

Qualifications

It is not necessary for you to have a degree in this line of work, however, due to just how competitive this industry is,  having a foundational degree, degree or an HND in any of the subjects below can provide you with an advantage:

  • Estate management
  • Surveying
  • Civil and structural engineering
  • Land and urban studies
  • Business management 
  • Property management/development

Skills

it is important that you are able to show the following:

  • Negotiation skills in a bid to win over clients and close deals successfully
  • An outgoing and confident disposition which can help you gain trust as well as appear reassuring
  • Excellent communicative skills, particularly when dealing with other professionals.
  • Patience, perseverance and determination
  • IT skills