The Requirements to be an Estate Agent

Question 1

What is an Estate Agent & what do they manage?

Answer 1

• Bring together people who want to buy or rent, with people who want to sell/rent a property.
• They manage the marketing of properties.

Question 2

Which particular markets may an Estate Agent specialise in?

Answer 2

• Commercial real estate

- Residential properties

Question 3

Commercial real estate?

Answer 3

Property used for business purposes rather than as a living space.

Question 4

Residential properties?

Answer 4

Homes or apartments

Question 5

Which particular type of property activity may an estate agent focus on?

Answer 5

Negotiating lettings

Question 6

Letting?

Answer 6

The action of renting out a property.

Question 7

What may an estate agent cover if they aren’t specialised on one particular thing?

Answer 7

They may cover several types of property and property transactions in a particular geographic area.

Question 8

Key skills for an estate agent?

Answer 8

• Strong communication skills
• Relationship building
• Good at sales
• Good organisational and administrative skills

Question 9

Which 2 things must an estate agent be able to do in order to be considered ‘good’ at sales?

Answer 9

1. ) Able to negotiate prices

2. ) Able to persuade

Question 10

What does a successful estate agent need to have a good knowledge of?

Answer 10

• The property market in the geography they cover
• How to market a property, so it is attractive to buyers
• The basics of the laws affecting property sales and ownership
• The financing options for properties

Question 11

What do estate agents need to build and nurture over time to be successful?

Answer 11

Relationships

Question 12

Which 5 characteristics do estate agents typically have?

Answer 12

1. ) Confident
2. ) Talkative
3. ) Outgoing
4. ) Energised by being around people and doing deals
5. ) Motivated by targets and deadlines