Real Estate Broker
Apart from selling, Real Estate Brokers secure agreements from property owners to sell the property. The more successful Real Estate Brokers are the pro-active guys that are always knocking property owner’s door asking if they might want to sell their properties. With more properties to sell, the more commissions to be made.
Real Estate Brokers should know relevant laws applicable for a particular locale concerning real property. Depending on the country, like, in the US, different states have different laws governing buying and selling of properties, so knowing these pertinent things would give real estate brokers added edge in selling properties.
Consider the scenario: Somebody who obviously is a foreigner, walked in and expressed interest to buy the property the broker is selling. Naturally, the Real Estate Broker smelling a potential sale goes for the jugular and makes the client sign up a contract. In some countries, foreigners are allowed to buy real estate properties and in some it is restricted. In the scenario above, if in his area of operation does not permit a foreigner to own real property but allows foreigners to own condo units then the broker could have recommended selling a condo unit instead of the house he originally offered. Aside from the wasted effort, the reputation of the broker would have also been tarnished if the scenario above happened in real life.
Brokers should also be able to know available financing options as most transactions are through financing. Different commercial banks usually offer different financing terms and sharing this bit of information to the clients especially as to what bank gives the best terms might sometimes translate to referrals. The government may also offer affordable financing programs so it is up to the broker to recommend which among available options would fit best the needs of the client.
Perhaps the most important skill a broker should have is the ability to expand his network of acquaintances. As mostly is the case, most sales happen because somebody recommended somebody to his/her broker and walk-ins actually buying are rare cases. That’s why calling up old friends and old clients from time to time won’t hurt so investing in a reliable cellular phone would also be a wise decision.