Land agent

From CEOpedia | Management online

Land agent is a term for a person who was mainly involved in the sale of the land. This term was popular in England in 18th-19th century. Today's land agents also sell a real assets. Therefore, nowadays this people are called real estate agents or brokers. Estate agent is an intermediary between people who want to sell a property and people who want to buy it. Broker also often cooperate with lawyers and bankers. Therefore, today's land agent must be confident and very comunicative person who don't have problems with starting new relation and learning other languages. He also should manage his time well, because he plans his own work and time (T. Waller, D. Nafte 2007, p. 31)

Main tasks of estate agent

The main task of estate agent is looking for a property for sale or information about desire to buy. If client grant a permission, the agent sets the market price by comparing the prices of other properties. Next, broker prepares a sale offer and promotes it. If there is any information about someone who desire to buy an estate, agent should meet them to find out what they actually need and how much they can pay. When clients are interested, agent prepares agreements and documentation. They often use help of lawyers. The brokers earn mainly from commission on sales. Often the amount of commission depends on the agents themselves (W. Patton 2012). However, there are several factors that affect on the high of agent's remuneration, for example:

  • the area in which the agent works - agents in large cities generate more income compared to agents working in the provinces,
  • the experience - an agent with longer work experience inspires greater confidence,
  • the working weekends - many customers prefer to meet on weekends when they do not have to go to work,
  • the belonging to the state's Realtor association and membership in clubs/professional organizations - thanks to this, agents inspire greater customer trust, appear more credible, and expand their contacts,
  • the holding a broker's license,
  • the level of job satisfaction - a motivated and satisfied employee is more involved and does his job better (G.S. Sirmans, P.G. Swicegood 1997, p. 173)

How to became a real estate agent

Person who wants to be a real estate agent needs to have some personal skills. Many of agents work as a self-employed, so they have to manage their time very well, be flexible and keep yourself motivated. Good organization is the key to success in this profession. Real estate agent should balance work with their free and family time. Communication skills are also important. Real estate agent should be a good listener. He should also be able to express his thoughts clearly. This is important because a large proportion of clients do not know professional terms. A person who wants to become a real estate agent should be focused on continuous learning, because nowadays technological progress is fast and new technologies are constantly appearing (M. Clayton 2013) University degree is not require to become a real estate agent. Person who wants to be an agent needs a license. In order to have this license candidate has to pass an exam. This exam is setting by the Estate Agency Affairs Board. Therefore, in every estate agency there are training. Candidates are called trainee and work with experienced employees. They help agents in different duties, thanks to which they acquire the knowledge needed to pass the exam (T. Waller, D. Nafte 2007, p. 35). A real estate agent who wants to be a broker needs to and extra educational course. To pass exam candidate have to know Real Estate Law very well. To get a license of broker, agent also have to run business for a specified time (L.E. Moll 2014)

Examples of Land agent

  • Tim Bell - Tim Bell is a real estate agent who specializes in buying and selling land in the UK. He has 15 years of experience in the industry and is a member of the National Association of Estate Agents. He works with landowners, developers, and investors to find the best deals on land. He has a degree in estate management and a range of certifications from the Royal Institution of Chartered Surveyors.
  • Sarah Smith - Sarah Smith is a land agent with a focus on rural and agricultural land. She has a degree in agricultural science and more than 10 years of experience in the land agent industry. She is an active member of the National Farmers Union and works closely with local farmers to ensure the best deals for her clients. She has a keen eye for potential investments and can spot a good deal when she sees one.
  • David Jones - David Jones is a land agent and real estate broker. He has over 20 years of experience in the industry and is a member of the Association of Real Estate Agents. He specializes in rural land transactions and has extensive knowledge of local zoning and building regulations. He works with landowners, developers, and investors to find the best deals on land. He has a degree in real estate law and a range of certifications from the National Association of Realtors.

Advantages of Land agent

One of the main advantages of a land agent is their ability to make the process of selling or buying a property much easier and more efficient. Here are some of the key benefits of having a land agent:

  • Expertise: Land agents have vast amounts of knowledge and experience when it comes to buying and selling land. They have the knowledge and understanding of the local area and can advise on the best options for their clients.
  • Negotiation: Land agents are experts in negotiating and can make sure that the best deal is achieved for their clients. They can also help to ensure that any legal issues or paperwork are taken care of.
  • Time: Land agents can save their clients a lot of time as they can handle all the necessary paperwork and negotiations. This means that the process is much quicker and more efficient.
  • Networking: Land agents also have a wide network of contacts, which they can use to find the best deals and properties for their clients. This means that they can find the best possible deals for their clients.

Limitations of Land agent

Land agents have some limitations. These are:

  • Limited Knowledge - Land agents are often limited in their knowledge of the real estate market, meaning they may not have the necessary experience to accurately advise buyers and sellers in complex transactions.
  • Limited Expertise - Land agents may not have the expertise in areas such as construction and property law. This can lead to incorrect advice or misunderstandings.
  • Limited Availability - Land agents may not be available when needed, meaning they may not be able to provide the necessary advice and support when buyers and sellers need it.
  • Limited Resources - Land agents may not have the resources to provide comprehensive support, such as financial advice or legal advice.
  • Limited Network - Land agents may not have access to a wide network of buyers and sellers, meaning they may be unable to provide the best deal possible.

Other approaches related to Land agent

In addition to real estate agents, there are other approaches related to Land agents. Those include:

  • Property manager - a person who manage the maintenance, tenant relations and rent collection of a property. Property manager should have good organizational and communication skills, be comfortable working with budgets and other financial records, and have knowledge of the local laws and regulations.
  • Real estate appraiser - a person who is responsible for determining the value of a real estate property. It is a highly specialized job that requires special certification, knowledge and experience in the field.
  • Property developer - a person who is involved in the acquisition of land, as well as in the design, construction, and sale of the property. Property developers must have a strong understanding of the local real estate market, as well as the ability to manage multiple projects.

In summary, real estate agents are just one approach related to Land agents, and there are other approaches, such as property manager, real estate appraiser, and property developer. All of these require specialized knowledge and skills, as well as the ability to manage multiple projects.


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References

Author: Paulina Jurusik, Justyna Niemiec, Aleksandra Marcinkowska

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