Real estate
What is real estate? What does it mean to be a real estate agent? How does this field work? What skills do you require to be a good estate agent? All these questions are often asked and thought about but we rarely get a proper answer to them. In this article we are going to give a detailed account on real estate and its relevant aspects.
So what exactly is real estate? Well, real estate is a term used for a field that involves property constituting land or relevant structures. These structures can either be residential or commercial. Houses and flats fall under the category of residential units whereas shops, apartments, offices fall under the category of commercial units.
Real estate agent
A real estate agent is an individual who buys or sells property to interested parties. The agent also advises, suggests and guides clients as per their interest. Most suitable options are presented to clients according to their feasibility. A real estate agent guides you regarding legal matters or paperwork that is followed by a deal.
How does real estate work?
The very first step in the whole process is to establish the fact that you work as a real estate agent and let others know about it. Then comes the second step, which is to market the assets you are in the position of and grab the attention of the target party. Once an interested client consults you, you provide them with the best options on the basis of your knowledge and expertise. Negotiations take place to mutually agree on the desired rate. Afterwards, the client makes the final decision and if the deal is done, it is followed by mandatory paperwork and payment. This happens in all procedures including buying, selling or renting properties.
Stressors
We often come across people who say real estate is one of the few fields that make you rich a little sooner than you would expect. The chances of earning a great deal of money are relatively higher as compared to other fields out there. However, as much as it is beneficial it still comes with a lot of baggage and stressors of its own.
As a real estate agent you face certain pressures related to payment, client’s attitude, etc. Following are the stressors that become troublesome for an estate agent:
No fixed salary
Delayed payment
Risky meet ups with strangers
Decline in property value
No Fixed Salary:
The first and the biggest stressor for an estate agent is having no fixed salary. Even if you are working in a company or independently, you would always remain uncertain about your monthly income. Some months you might be able to do plenty of deals resulting in a generous amount of commission or profit but there might come a time, where you won’t be able to do any deal which is a drawback of this profession.
Delayed Payment:
Another stressor is delay in payment. This happens from the client’s side which leads to inconvenience and embarrassment for the agent. Since commitment is a great virtue to practice if clients do not pay according to their commitment, agents face difficulty and embarrassment in front of higher authorities (manager, boss).
Risky meet up with strangers:
Most of the deals require proper meet ups for client’s satisfaction. Only overseas clients do not engage in this activity. However, female estate agents often fear meeting stranger clients for deals. They feel like it is risky and can turn out to be quite uncomfortable.
Decline in Property Value:
Being a real estate agent, you promise your client that the asset being invested in will generate high returns. Sometimes, this can become quite problematic as some assets do not turn out to be as profitable as you thought them to be. This is termed as ‘decline in property’s value’ which will be a huge stressor for an estate agent as it will tarnish his or her image and repute.
Is it stressful?
A coin has always two sides, which means all fields and occupations have their fair share of pros and cons. While real estate promises you high earning and profit, at the same time it might bring monetary loss and inconvenience.
Yes, being an estate agent can be stressful but all fields come with such stressors and wherever you go, whichever profession you choose, it will test you sometimes. So, it entirely depends on you as an individual how you deal with such situations and come stronger out of them.
Regency Marketing is a real estate marketing company that is known for being the authorized sales partner of Park View City Islamabad real estate project, Lahore Park View real estate project, Capital Smart City real estate project and Lahore Smart City real estate project. For any advice and guidance regarding property you can consult this reliable company that entirely focuses on client’s satisfaction.
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