Although the clients of estate agents tend to take a hands off approach during the process, there are several steps that will take place before property can be bought or sold. The first step involves getting in contact with a skilled estate agent and voicing your needs. If you want to rent your property for a specific period of time your estate agent will advertise the vacancy to prospective tenants that agree to your terms. Property sellers will be told how much money they can expect to get for their properties, and then an official survey will be conducted. In either case, your estate agent will arrange a time to visit your property and take pictures so that prospects are able to peruse your listing.
Most estate agents will agree to be compensated only when your property is sold or rented. This allows landlords and homeowners to keep their expenses low while estate agents can simultaneously increase their portfolios of available properties. You may have to compromise on some of your terms in order to facilitate a sale, however, your estate agent will let you know what the best course of action is. This can include decreasing your asking price or agreeing to making repairs before the sale is finalized. In most cases your estate agent will handle the negotiation process on your behalf, but you can request to be a part of the process if you prefer.
Once a sale or rental agreement has been finalized, you will meet with your estate agent and the buyer or tenant in order to sign paperwork. If a rental agreement is being signed you will want to check to make sure that all of the terms that you have requested are in writing. If selling, be certain that the listed price is accurate before you apply your signature. The process itself may be over with in less than a week, but it is not uncommon for sellers and landlords to wait for several months before a serious prospect initiates contact. During the final step your estate agent will be compensated appropriately for his or her time and effort.
