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Completion of a real-estate
deal under optimal conditions is the goal of both the buyer and
seller, who obviously have opposing interests. The seller wants the
highest price and to give as little as possible in the framework of
that price; the buyer wants the lowest price and to receive the
maximum he can for his money. For both, a professional real estate
agent can guarantee the successful conclusion of the sale, in which
both sides will be satisfied.
How does a professional agent work? How can you identify him? A
professional agent studies the market in depth, must know the
appropriate property and tax laws, be aware of market opportunities,
have knowledge and necessary experience to overcome problems that
arise in the course of a sale, and be creative in solving problems
that arise concerning a property and its sale.
A professional agent should not neglect his client, but always be
searching out new properties to show him. Sometimes one immediately
finds the suitable property, but other times it can take a year or
more to find the ideal home for a client.
The ethical side is of utmost importance. An agent must make his
client aware of any problems in a building or with a specific
property. If dampness has been merely covered up, the agent must
inform the buyer so that he can make his decision based on maximum
knowledge of the property. Problems of construction and any known
existing engineers' reports must be made available to the buyer.
An attitude of arbitrarily or falsely improving a property or ignoring
the real needs of a buyer, and investing all energies just to make a
sale, and not taking into consideration the needs and desires of the
buyer do not guarantee success in the long run.
A professional agent focuses on the client (buyer or seller) and
satisfies him by means of sales based on a total market analysis. The
emphasis must always be on the client, not on the property, and on
increasing the information available to the client and clarifying his
needs. One's earnings must be based on satisfying the client, not on
making as many sales as possible and at any price.
An agent contributes to the real estate market by giving information
on prices, design and planning, legal aspects, possible changes,
encourages sales, and introduces a maximum number of sellers to a
maximum number of buyers.
There are several stages in purchasing a property:
1) feeling of need to buy.
2) Active search for property.
3) Decision to buy particular property.
4) Acquisition of property.
5) Satisfaction after sale.
For example, in the second stage the agent must show a maximum number
of properties and supply maximum information on these apartments:
prices, building quality, neighbors, area and access to shopping,
schools, playgrounds, synagogues, etc. Only after completing this
stage can the client continue on to the decision stage. The time the
client remains in each stage is individual – and depends on how
strongly he feels the need to buy.
The unprofessional inexperienced agent does not distinguish between
the various stages and therefore cannot help his client to progress
from stage to stage until successful completion of the sale, except by
accident.
The decision stage is the hardest. This is the stage where the client
decides between alternatives within a framework of the limitations
that he has set: budget, street, area, size of apartment, alternative
investment possibilities for extra money (in the case of a sale),
taxes, etc. At this time, the client needs the agent – especially for
professional and experienced up-to-date advice which would help him to
decide correctly and then to be able to continue on to the next sage
of acquisition of the property. |