The estate agent business is basically all about helping others buy and sell their properties. But even in a field such as this you get a lot of specialisation. Some estate agents out there focus entirely on commercial properties; others may focus on the lower end of the residential market while a select few focus purely on the expensive luxury end.
Basically speaking what an estate agent may decide to specialise in is purely dictated by what or who they know and the location they have chosen for their business.
This business is primarily about communication. How you're able to interact with the seller and buyer can make or break a deal. You will also need the ability to be able to tackle mental calculations and think fast on your feet.
The seller's requirements are usually that the property is marketed as quickly as possible and the best price is achieved with minimum hassle. For this service, clients will usually pay the estate agent a commission around 1% - 2% of the sale price that is achieved. This percentage is often determined by the competitive forces within the properties area.
You will be required to have extensive knowledge of the local market place to enable you to give the client a ball park figure that is likely to be achieved for the property. Depending on the market situation, you can then advice the client on whether he or she should market their property at ?offers over? or at a ?fixed price?.
The buyer on the other hand wants an estate agent to help them find the best property for their requirements at the lowest possible price. In most cases they will not have the time to search the market place and this is where a really skilled estate agent can score very well, by sourcing the best property quickly, setting up viewing times and helping in the negotiations once the optimal property has been found.
There are also numerous other services that can be offered like insurance, conveyance and finance. Some of the best estate agents offer a complete one-stop service and can handle every need from putting the property on the market place, to finding the best buyer, setting up a survey report and helping the buyer secure the funding to acquire the property.
If you're easily frustrated then this certainly isn't the business for you. All sorts of issues can occur that can make life difficult for an estate agent. The seller could decide to take the property of the market at the last minute despite you having met all their requirements. The buyer may not be able to raise enough money even after all the paperwork has been completed. Sometimes the buyer and seller can only complete a sale after their respective properties have been purchased.
Work hours can prove to be long and arduous as in many cases viewing can only be done during the evenings or/and weekends. Most people who are in the market for buying or selling a property are usually either in full time employment or running their own business. They will often need to be met outside work hours in order to secure a deal.
There are loads of estate agent franchise models out there. When buying an estate agent franchise, it is very important that you opt for a well known brand that has already achieved public recognition. Check out their property portal and make sure it is easily accessible. Make sure you have outlined territory in which to operate your business and speak to other existing franchisees to see how profitable the business model is.
The property market can prove to be highly unpredictable. Within a short period of six months, conditions can change immensely, from a buyers market to a sellers market. Seasonal fluctuations also add complexity to the issue. The worst period to market any sort of property is before Christmas and in the beginning of the New Year.
People will always need a property to live in; this business can be extremely lucrative for the right person with excellent people skills and the correct work ethic. When the market conditions are ideal, an astute individual can make good money in this business.
Agents And Business Managers
We all know of the threat that Bird Flu brings to our
businesses. We have all been told to prepare. But how do we prepare? It won't be like other disruptions so our current Business Continuity Plans won't work. We have been warned to plan for up to 50% of staff to be absent from work during the worst period, and to expect the same for our suppliers and clients.
How can we avoid the inevitable workforce panic? What can we say when our staff, customers, stakeholders and regulators ask what we are doing to help prepare for Bird Flu? Are we confident we have done all we can for workplace Health and Safety? How can we prepare our homes and families?
There are many ways businesses can minimise disruption, absenteeism, panic, workforce infection and financial losses with good planning, training and preparation. Here are a few tips and things to think about.
Know your exposure
What are the risks to your business? Some businesses will suffer more than others. Examine where you stand with:
a) what are your critical processes
b) who are your critical people
c) which are your critical suppliers
d) what utilities do you rely on
Training
Ignorance and panic are our worst enemies. Teach your staff to:
a) understand the Bird Flu pandemic
b) recognise the symptoms and know the differences with the common cold
c) make it difficult for the infection to spread
d) protect themselves and their families
e) involve themselves in your own preparations
Human Resources
It is people who will be directly affected by Bird Flu,
not systems, machinery or physical locations. Consider:
a) deputy training
b) back up staff
c) succession plans
d) leave arrangements
e) temporary redundancy
Influenza Manager
Who will take the lead in your company's planning for the pandemic, and the company's response once the pandemic starts? Nominate an Influenza Manager(s) to look after:
a) monitoring of the pandemic and trigger activities
b) human resource contingency
c) staff/supplier/customer communications
d) workplace preparation and disinfection
e) managing stockpiles
f) regulatory obligations
g) managing staff return to work after illness/quarantine
Managing illness at work
Discovering illness in the workplace could mean healthy
employees' refusal to come to the office due to safety
concerns. Mitigate this prospect by having:
a) a compartmentalised workstation layout
b) arrangements for quarantining the individual(s)
c) clear guidelines for disinfecting and cleaning
workstations
d) daily illness checks before coming to work
Personal hygiene
Practicing good personal hygiene is probably our best
offense against Bird Flu. Educate your staff to:
a) wash their hands regularly and thoroughly
b) cover their mouth and nose when coughing and sneezing
d) dispose of tissues in sealed bags after use
e) avoid touching their face with unwashed hands
Communications
Keeping communications open is critical to business
operations. Keep in contact with staff, customers and
suppliers by:
a) enabling staff to work from home
b) diverting phone calls and messages
c) accessing email from anywhere
d) installing videoconferencing
Social Distancing
Protect staff by minimising contact with others.
Consider the following measures:
a) avoid face to face meetings
b) review overseas travel policy/quarantine
c) stagger working hours to avoid overcrowded public
transport
d) avoid restaurants at lunch hour
e) allow customers to make orders/enquiries by email / fax / phone / website
f) practice ghost shifts
Awareness
People need constant reminders and updates. Help
increase your staff awareness with:
a) posters
b) screensavers
c) pandemic status boards
d) regular newsletters
e) website articles
Supply shortages
During a pandemic, supplies of everything will be short.
Consider the need for ensuring adequate availability of
essential supplies in case of:
a) breakdown of land/sea transportation systems
b) suppliers own travel restrictions
c) border closures
d) disruption to air traffic
Stockpiling equipment
Businesses and individuals have already started
stockpiling equipment. Have you? Consider adequate
supplies of:
a) face masks
b) rubber gloves
c) disinfecting soaps
d) cleaning materials
e) tissues
f) Perspex barriers
Office environment
Maintaining a clean office environment is one of our best
defenses. Check the:
a) air ventilation
b) office cleaning methods
c) pantry for shared crockery/cutlery
d) reception for newspapers and magazines
e) arrangements for identifying visitors/staff who have
symptoms
Lists and forms
As for any emergency, pre-prepare all the lists and forms
you'll need. Create:
a) emergency phone records forms
b) sickness notification forms
c) contact lists to record affected staff travel history
and who they have been in contact with
e) what-to-do checklists
Practice, practice, practice
Drills and exercises are the only way to make sure
employees and plans are ready. Schedule:
a) desktop exercises to check contingency processes
b) minor exercises to test staff
c) major full scale exercises for a real life drill
e) test meetings/conferences remotely using
videoconferencing
You can find solutions and tools to these and many other
Bird Flu Preparedness issues by referring to our online reference manual. Ideal for Human Resource Managers, General Managers, business owners. Every resource you'll need to get your business prepared for a bird flu pandemic.
Both Uchenna Ani-okoye & Nigel Thomas are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Uchenna Ani-okoye has sinced written about articles on various topics from Adsense, Business Loans and Property Agents. Uchenna Ani-Okoye is an internet marketing advisor and co founder of Free Affiliate ProgramsFor more information and resource links on estate agents visit:. Uchenna Ani-okoye's top article generates over 60500 views. Bookmark Uchenna Ani-okoye to your Favourites.
Nigel Thomas has sinced written about articles on various topics from Property Agents, Bird Flu. Nigel Thomas is the owner/operator ofBird Flu Manual Online. Bird Flu Manual Online is a reference andresource mine designed to help you get your businessprepared for. Nigel Thomas's top article generates over 590 views. Bookmark Nigel Thomas to your Favourites.
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