In the vernacular, real estate agents are still often reviled. Yet it is the qualified, suitable estate agent who is always at your side when buying or selling a property, supports you in all bureaucratic processes and is responsible for the smooth running of the real estate transaction. An estate agent can save you a sleepless night or two and, in addition to facilitating the conclusion of the contract, also brings financial benefits. This is because your estate agent is committed to your needs and always represents your interests.
The tasks of a real estate agent are varied and wide-ranging. They are based on the legal regulations prescribed in the Real Estate Agent Act and the Real Estate Agent Ordinance. In addition, an estate agent must comply with EU regulations and must not lose sight of the Consumer Protection Act. If he fulfills his obligations, he is entitled to a commission.
Find out in this article what tasks and obligations your real estate agent must fulfill when assisting you with the sale or purchase of a property.
The qualities of a qualified real estate agent
A reputable real estate agent not only looks after you and your property during the buying or selling process. They will actively assist you with all your questions about your apartment or house, take over the marketing and sometimes also the letting of the property.
Do you have questions about purchase or rental contracts? Then your estate agent is the person to contact. Are you struggling with legal problems or are you worried about future legal disputes? Your estate agent will assist you, refer you to the right legal advisor and guide you through all the bureaucratic processes. A qualified broker is your direct contact. They offer you security and guide you precisely through the real estate jungle. With the right estate agent at your side, you can successfully complete purchases, sales and lettings and skillfully avoid potential obstacles.
Your real estate agent combines a number of very interesting qualities. He is well informed about market developments and property prices and skillfully summarizes the key data of the property. He takes the time to advise you in detail and always has your interests in mind. If you have any questions about financing a property, he will show you various options, guide you and put you in touch with qualified financial advisors.
Real estate agent: tasks, activities and duties when buying real estate
As already described, your estate agent will accompany and support you throughout the entire purchase process. The aim is to match you with the right property and successfully complete the purchase.
The main tasks of your real estate agent are as follows:
In an initial meeting, you will discuss the general conditions for buying a property. Your estate agent will get an idea of your wishes and needs. He will find out about your financial possibilities and work out initial financing models. With the help of your key data, he will start looking for suitable properties that meet your requirements. In doing so, he is guided by both the objective data and your personal wishes for the property. He or she will draw on his or her own file, but will also search for suitable properties with other estate agents and look around the general real estate market. Your real estate agent will inform you at regular intervals about the progress of his search and organize viewing appointments. These must be coordinated with you, the owners and the current occupants of the property. The next task is to find out about possible pollutants in the property and refer you to experts if there is any suspicion of contamination. If you are interested in a property and would like to initiate the purchase process, this will be accompanied by your estate agent. They will negotiate with the seller on your behalf and advise you on legal and contractual matters. Together with the notary, your estate agent draws up the purchase contract and accompanies the conclusion of the contract. He is present at the notarization and ensures a smooth handover of the property. Once the purchase has been completed, he will assist you with further processes and answer your personal questions.
When carrying out their tasks, real estate agents must comply with a number of important obligations. Tasks, properties and duties overlap to some extent:
Your estate agent will inform you about the right of withdrawal that exists after the contract has been concluded. He will check in advance which ownership structures and encumbrances are entered in the land register. He must also inform you whether the property is residential or commercial. He will provide you with all the key data about the property in writing (fixtures and fittings, square meters, defects, energy certificate, etc.). But that’s not all. Your estate agent must also inform you of all the disadvantages and advantages of the property (flight path, risk of flooding, excellent infrastructure, etc.). In the case of a mortgage loan, he must inform you in writing about the premiums, installments, the APR and the total charge. He may not circumvent his duty of confidentiality during the entire process and he is obliged to inform you if he is acting as a dual agent and represents both you and the seller of the property.
The estate agent provides these services when selling a property
If you want to sell your property, a real estate agent is the best person to help you. Selling a property is not only time-consuming, but also involves a large number of bureaucratic processes. Especially if you have no specialist knowledge of real estate marketing, your estate agent will save you a sleepless night or two.
The estate agent inspects the property and determines its sales value. This is done on the basis of an income value, asset value or comparative value method. Your estate agent and his agency can look back on years of experience and determine a realistic sales value that takes your interests into account. If a special appraisal is deemed necessary, your estate agent will commission one. Numerous documents are required to ensure that the sale goes smoothly. Your estate agent will provide you with a list of all the necessary documents and help you to apply for them from the relevant authorities. If you have any questions about the sale of your property, your estate agent will advise you in detail and also address any problems in special cases. They will answer questions from potential buyers and provide all the information you need. Once all the data has been collected, the estate agent will start marketing the property. He takes professional photos and creates an informative exposé of the property. If he has customers in his file who are potential buyers, he presents the property to them first. He then initiates marketing measures and places advertisements. The estate agent makes direct contact with interested potential buyers, checks their creditworthiness and organizes viewing appointments. If a buyer is seriously interested, the sales negotiations begin. Once you have reached an agreement with the buyer, your estate agent will initiate the conclusion of the contract. He draws up the purchase contract in direct consultation with the notary, is present at the notarization and organizes a smooth handover of the keys.
