The selling agent is by far the most maligned character in the real estate sector. Far too many people get carried away by criticising the selling agent!
The functions of sales agents are very clear, and they are set out by legislation.
1.Sales agents should inspect the property before listing it for sale.
2.The agent must set the estimated likely selling price.
3.An agent is not entitled to be paid unless they provide the vendor with a written and completed agency agreement.
4.The agent must pass on all offers to the vendor unless the vendor states otherwise.
5.Sales agents can exchange contracts in residential property.
6.The sales agent will keep the deposit in a trust fund.
It could be said that there is a 7th function to complete a final inspection; however, that is mainly for the new buyers to inspect the house, while the sales agent opens and closes the front door!
The purpose of a selling agent is to receive the best result for the vendor!
Most importantly, their function is to get the property sold, so both the purchaser and the vendor can achieve their outcomes.
Too many people criticise the agent for doing their best to get the best price or pushing the sale across the line; however, that’s their function and how they make their money and should never be criticised.