What is the responsibility of a real estate agency? How does a real estate agency work? Which real estate agency should you choose? How to check a real estate agency? Many questions arise around the estate agency service, so it’s worth dispelling any doubts and looking at how a reliable real estate agency works.
How does a real estate agency work?
What are the responsibilities of an estate agency and what is left for the client to do? Probably every realtor has encountered such questions. The job of a realtor can most simply be described as being responsible for preparing the offer, contacting clients, completing the paperwork and handing over the property.
The first stage of cooperation with a real estate agency begins with the verification of the property. A responsible real estate agent always verifies the technical and legal condition of the property, so that the client can rest assured about the condition of the property. Then a tailor-made offer is prepared. You can read about the details of preparing a unique offer HERE.
Thanks to the contact database and customer orders not only of the real estate agency in question, but often also of cooperating agencies, it is possible to offer a specific property to people looking for similar premises. Contact with clients, presentation of the property, preparation of the documentation (e.g. the preliminary agreement or the transfer and acceptance protocol), as well as organisation of the meeting at the notary are often the most time-consuming stages of the entire process, for which the real estate agent is responsible.
A good real estate agent will have a basic knowledge of related industries, such as the issue of credit, but will also refer you to reliable experts in order to guarantee the reliability of the information. A realtor can usually also recommend a moving company, a renovation team or an interior designer.
So what is left for the customers? Apart from the formalities, which the realtor cannot legally assist with, the clients of a good real estate agency can look forward to a smooth process. The only tasks to be carried out will be described in detail by the broker so as not to raise any doubts.
Responsibility of the real estate agency
Contrary to appearances, the activity of a realtor is not limited to the publication of a property listing and contact with the client. It carries a lot of responsibility and numerous challenges. Not everyone is aware, but the obligation to have third-party liability insurance is imposed by law on every real estate agent. The civil liability of an agent can be divided into contractual (arising from non-performance or improper performance of a contract) and tort (illegal acts).
It is worth emphasising that the real estate agent is responsible not only for his own actions or those of his colleagues, but also for the activities and possible omissions of his subcontractors (a real estate agency may use, for example, the services of an interior photographer or a home stager). The client requires a specific service from the real estate agency, so the realtor is responsible for the entire process, even if he has subcontracted part of the service to another specialist.
What does this mean in practice? In the event of damage, the real estate agent must pay compensation to the client. Only after the claims of the injured party have been settled can the amount paid be claimed back from the subcontractor. The agent’s insurance provides a certain guarantee of security for the client.
Which real estate agency should you choose? How to check a real estate agency?
The first and easiest step to checking out an estate agency is to look at reviews about it on Google or social media platforms. These are places where reviews cannot be moderated and selected. It is worth noting whether the opinions are constructive and not ‘bought on the internet’.
We then recommend that you take a look at the offer on the real estate agency’s website. There you should find relevant information on the scope of cooperation, current and completed projects, as well as possible cooperation with related industries. When checking current real estate offers, it is important to remember that the quality of a realtor’s work is not at all indicated by the number of offers in his or her portfolio.
Unfortunately, many offices operate on a ‘mass’ basis – they publish offers en masse, which act as fishing rods for clients, but apart from publishing the offer, they do not put any further effort into finding a client. Worse still, some real estate agents ‘steal’ offers, duplicating them without the owners’ knowledge. When choosing a real estate agent, it is worth asking them about their strategy and sales plan – vague assurances of successful activity do not bode well for their effectiveness.
When deciding to sign a contract with an intermediary, the last step should be to check the business activities of the real estate agency in question. To be sure that we are entering into cooperation with a legally operating entity, it is sufficient to check its KRS or NIP number in the government database.
