What Are the Duties of a Real Estate Agent?

A real estate agent usually gets paid on a commission basis. The commission is typically an agreed percentage paid on the sell price. Normally the seller pays the commission, yet sometimes a buyer will agree to compensate the agent. A real estate agent's duties will vary, depending on the type of real estate he is practicing. Real estate agents must work in the best interests of their clients, and the agent owes the client a fiduciary duty.

Types

Some real estate agents assist their clients in buying or selling real estate. Some real estate agents are property managers, and some do both.

Features

A real estate agent will give his client a comparative market analysis, which is his opinion on how much property should be listed for. If the agent is acting as a property manager, he will inform his client on the current rental rates.

Function

A real estate agent will market his client's property for sale or rent. He will attempt to find a buyer or renter for his client's listings.

Time Frame

A real estate agent typically signs a contract with his client, putting a time frame on his services. A listing might be for 30, 60 or 90 days.

Considerations

A real estate agent must be current on Internet marketing. Many have websites, blogs and visual tours to promote their listings.

Insights

A real estate agent will help a client locate property. He will search for the property based on the client's criteria.

Contracts

A real estate agent will help prepare the contracts for his client's transactions. He will open escrow, arrange proper inspections and walk his client through an escrow or leasing process.