What skills should a good estate agent have?

It may be a tricky question, but what do you think a good estate agent should be able to do? Setting aside the usual phrases, such as that they should be a professional and specialise in sales or lettings, they really should have many more skills.

They should be good communicators

Probably nobody wants a clumsy agent who can barely express themselves. It is always pleasant to talk to someone who communicates effectively. They know how to listen, and it is a big bonus if they understand their clients’ needs. We must not forget clear, easy-to-understand communication with clients about their dream home either.

Business skills

A good estate agent simply cannot do without business skills. Today it is not enough to tell a client that something is cool. They have to be able to talk it up. Negotiating skills allow them to get the best terms for their client. And a satisfied client may well come back to the same estate agent one day.

Learn, learn and learn

They should keep improving all the time. They should seek out information and follow how their field keeps developing. This means they can also work on themselves and take on new knowledge in all areas. Standing still is not an option in this field.

A capable marketer

A good estate agent knows their way around marketing. They must be able to attract attention, sell and win the client’s trust. If they can present their services well, that is a big bonus you will certainly appreciate too. They will also prepare a sales strategy. They will consider whether it makes sense to offer the property at auction. They know where to advertise the property. In short, they will come up with a practical plan that works. Good promotion means that plenty of people will hear about the sale, not just your neighbours.

They understand property prices and can give advice.

Setting the price

This is probably the most important skill: they can carry out market analyses and use them to propose a selling price. Their experience matters here too, because if they offer the property too low, it will probably sell quickly, but the seller will lose money on it. If, however, they set the price too high, the property will not sell, or it may only sell after, say, two years.

Help with financing

An estate agent manages the activities related to loan financing. While a mortgage broker arranges the loan itself with the bank, the estate agent coordinates everything and agrees the dates. They typically communicate with the valuer as well as the mortgage broker, the buyer’s bank or the seller’s bank. If there is a loan secured on the property being sold, they will sort everything out.

Land Register (katastr nemovitostí)

The agent communicates with the Cadastral Office (katastrální úřad). When checking a property, they compare its actual condition with the data in the land register. Occasionally, when needed, they retrieve title documents or information on mortgages and easements from the archive. During the sale, they file applications to register the mortgage agreements and purchase contracts.

Handover of the property and transfer of energy contracts

The estate agent’s final task is handing the property over to the buyer. This means drawing up a handover report and then transferring the electricity and gas supply contracts to the buyer.

They have their hands full, but if they are capable and skilled, they will manage. Like everything else, this profession is about contacts. If someone you know has just sold a property, ask them for a recommendation. References are sometimes the most important thing.