The role of real estate agent

Topics: Real estate, Property, Real property Pages: 14 (4788 words) Published: November 30, 2013
1 Introduction
Nowadays, the real estate sector is facing difficulty in the world. I got to experience it for myself during my internship at BNP Paribas Real Estate for ten weeks as the assistant to the Associate Director, Head of business unit and Logistics Ile-de-France. So, I’ve worked on commercial and industrial real estate properties in other words properties that are for companies and not individuals and properties that have more surface for activity than office. Real estate may be defined as immovable property, esp land and buildings, including proprietary rights over land, such as mineral rights“ (Collins English Dictionary, 2009). In France, real estate transactions have decreased of 20% in 2013. And there are too many real estate agencies in comparison of the demand. This is the reason why the competition is very hard in this sector. So, the role of the real estate agent is more and more important. The real estate agent assists the customer from the beginning of the customer’s research and the different visits until the signature of the sales act at the notary’s office. 2 In search of new offers and requests

2.1 Prospection
The goal of the prospection is to be the first one to identify the demand of properties. The real estate agent is looking for available properties and customers for these properties. His objective is to be the first one to detect the request because in the real estate sector the competition is tight.

The role of the real estate agent
2
2.1.1 Field prospection
The field prospection is a good way to find new offers or meet new demands. It consists of going into the property directly, asking to the owner if he has any need in real estate. To prospect effectively, it is better to target the prospection in other words to target a given sector for commercial prospects. To be credible it is also important to know the name of the real estate decision maker and the history of the property. Whenever possible, my colleagues and I find out about the owners of the properties and the history of the properties. When, we do not find the name of the real estate decision maker, the welcome less receptive.

2.1.2 Phone prospection
Phone prospection is another method for finding new offers or demands. It means calling the owner/director of companies to know if they have any real estate need. The prospector has to ask the person which area, sector/department/municipality the person is interested in, which is his/her motivation and if it is for selling/buying/renting. There are different ways to do that. One of them may be to select the companies which are close to the property that the real estate agent has for selling/renting with the aim of finding a buyer/renter for this property. During my internship, I have worked on four prospection campaign. The first one was to target the companies of “Ecommerce” because those companies are growing faster so they should need more space or other properties. The second one was to find new prospects which are looking for 1000-5000 metrics only, in other words companies that are not yet in the BNP Real Estate’s database. The third one was to work on requests detected previously because many requests appear every day and the sales agents may not lead each requests to signature.

There are some useful points to know to be a good prospector: have a good voice intonation, do not overburden your speech, use some key words or phrases, and to listen to the person. For instance, I did not have the same atmosphere at the beginning and at the end because at the beginning I was not at ease and the person would feel it. It also important to be clear and not to overburden your speech. In fact, my prospection was more effective when I presented myself as “Estelle from BNP Real Estate” rather than “Estelle Basmadjiev from BNP Paribas Real Estate”. Some phrases are more effective on people like “I would like to know if your business needs new properties because we have new The role of...
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