The role of a property agency has changed significantly in recent years, with the coronavirus pandemic and the increased number of people working remotely changing the way businesses do business.
The property market has been booming for some time now, and this has resulted in increased demand and workload for property agents in Glasgow. Agents can offer you numerous benefits and can guide your buying and selling process in the right direction. Here is what you should know regarding the role of property agents in Glasgow:
Duties Of A Property Agency
As the representative of the seller in the sale of property, a real estate agent performs a number of duties. In addition to preparing a sales proposal and recommending products, agents visit property sites and communicate with homeowners about possible maintenance needs. They will coordinate with various parties including escrow companies, lenders, pest control operators, and other professionals. Agents also interview prospective clients and assess their needs before making a purchase offer. An agent will monitor and report on the market, prepare marketing strategies, and conduct inspections of properties.
Client Relationship
Agents also have a duty to the principal, the person who entrusts them with the property’s sale or letting. An estate agent’s duty to the principal is to ensure that they are fairly dealing with all customers, and they must protect their clients’ interests. While the duty to the principal applies to all real estate agents, the duty to the customer extends to other parties as well.
Buying Properties Through A Real Estate Agent
A property agency is a company that helps buyers to purchase property. They will look for suitable properties based on the buyer’s requirements and preferences. Agents conduct a comparative market analysis to find the most appropriate price. Depending on their research and expertise, they may recommend one particular property over another. In addition, property buying agents will send detailed reports and photos. This way, buyers don’t have to spend hours and days visiting properties, only a few minutes per property.
Avoiding Dual Agents
It is possible to sell a property as a dual agent. However, this practice is a bad idea for several reasons. In some cases, the dual agent may not be focused on the interests of their clients. They may not be able to get the best deal possible, or they may not act in the client’s best interest when negotiating contracts. There are also issues of fiduciary duty that might arise. When considering whether to use a dual agent, it’s important to consider who will be purchasing the property and how it will be sold.
Final Words
Make your buying/selling process smooth sailing by hiring a letting agent in Glasgow. It is their job to provide you with their expertise and knowledge to support you, your family, and your finances through the moving process. Even if you are looking to become a landlord, or wish for some advice on tenants, leasing, renovations, an agency can also provide you with this support.