Role of real estate agents
It may seem a bit unclear when it comes to the role and responsibilities of a real agent. It may be unclear with wide speculations on whether they sell or they buy or across a wide range of products in real estate investments in Kenya. The wide range of real estate investments has different purposes including; residential purposes, commercial purposes, industrial purposes as well as undeveloped parcels of land. Real estate agents are individuals that are licensed as well as authorized to buy, sell or lease on behalf of their clients. They transact on behalf of their clients and act as brokers in the real estate industry in Kenya. Also, they perform a wide range of duties depending on their areas of specialization one may be specialized in lands, the other one on houses and so on. Their common term in Kenya is brokers”. Some of their responsibilities and roles revolve around the following:
Listing- this would be termed as the main role and responsibility of real estate agents in Kenya. They identify property that their owners want to sell, help the owners decide their terms and conditions on the property and list them for sale on various platforms. Identification also comes about through referrals from pervious owners. This listing includes advertising the property on sale.
Inspection and locating property listed- once a buyer has shown their potential to buy certain property, the real estate agent in Kenya makes the necessary arrangements for the them to inspect as well as show them the location of the property. They are the ones who know the exact location, say in Nairobi that the house is located or where exactly in Kiambu is the piece of land located. They also are responsible to help you inspect the property you are purchasing and giving you advice on the same. They need to have gathered all the necessary information that pertains to that particular property as they are the mediators of the property or rather, they talk on behalf of the client.
Market trend and analysis –real estate agents in Kenya are also responsible for analyzing the market trends. They need to have information on the market prices whether it favors the buyers that is the buyer’s market, the seller’s market or a neutral market. They advise the sellers on the suitable amount to sell their properties based on the market information collected. They advise accordingly and in terms of location as well as their recent sales. If the real estate agent represents that buyer, they help the buyers when it comes to their bargaining rights and agreements. Since they know the market trends, they help them decide the appropriate amount to place on a property deal, negotiate on behalf of the buyers ad well as help ease the terms and conditions of assigned to a certain property.
Valuer- real estate agents in Kenya help in valuation of properties. They help determine the value of the property at its existing conditions and if anything was changed, the value addition or reduction associated.
Negotiations- real estate agents in Kenya are responsible for facilitating negotiations between a seller and a buyer. Buying property or land is more of a process than transactions. Real estate agents should therefore help both the seller and the buyer depending on who they stand for. For buyers real estate agent, it is crucial to understand property counter offers before offering their own offers.
Any real estate agent must create trustworthiness in every role and responsibility they have. It is required of them to make sure that they take their responsibilities carefully and mindful to their clients. If you need to connect to genuine real estate agents in Kenya and around Nairobi you can reach to us through the comment section and we will link you up.