Real estate agent's fee, duties, powers

Many real estate agents and freelance realtors from different real estate agencies work to ensure that everyone can find the property of their dreams - whether for the short or long term. But what does a real estate agent do? What does your day consist of, what tasks do you perform, what are your powers when renting or selling, how much is the commission? I will now provide an insight into them!

What is the role of a real estate agent?

A real estate agent can deal with many things:

• maintains contact with sellers and buyers
• represents: keeps the seller's interests in mind, gives advice,
• in addition, it provides customers with expert advice, even investment tips
• creates advertisements on the appropriate platforms,
• strives to sell the property at the best possible price,
• presents the apartment,
• is available,
• organizes professional photography and videography,
• prepares a scaled floor plan,
• or even a visual design,
• and follows the process of signing the contract.

A real estate agent does his job well if he does not "just advertise" the given property, but provides the seller with advice, suggests home staging, or honestly tells him what needs to be replaced in the property in order to realize a higher profit in the future .

A real estate expert asks the questions that no one else does. He knows everything not only about the apartment, but also about the surrounding area: how is the administration? Who can I turn to if something goes wrong? A realtor has a lot of connections that can make our lives easier.

Home staging means the "staging" of the apartment, which serves the purpose of making the prospective buyer fall in love with the property even at first sight. The first impression is very important and can significantly influence the decision. Replacing a worn doorknob, a hanging skirting board or a few thousand forint IKEA furniture that has seen better days does not require a large investment, but it can help a lot in selling the apartment - and it can even speed up the process!

A real estate agent is also reliable in obtaining the necessary documentation and documents (e.g. floor plan, title deed, SZMSZ, local construction regulations, etc.)

Terms of real estate brokerage

Do you always need a mediator? Or are there cases when you don't need a realtor? Who can broker real estate?

Of course, it is possible to sell or rent an apartment without intermediaries, but for owners who are not competent, this often requires extra costs and time, and the fees of real estate agents are often negligible.

As in most cases, here too it is advisable to take the help of an expert into account - and since the conditions of real estate mediation include the passing of the appropriate professional exam, every mediator is therefore qualified as an expert.

The basic condition for working as a real estate agent is that the prospective realtor has no criminal record, no public debt, and cannot be a senior official (based on the Law on Business Companies). A permit from the real estate business supervisory authority is required to work.

Powers of the real estate agent

LXXVIII of 1993 on the practice of real estate brokerage. Act (Housing Act), which was last enacted in Act CXLVI of 2020. changed as of January 1, 2021 as a result of the law.

Based on this, the stated powers of real estate agents are as follows:

• by mediating the sale and exchange of real estate (plots that can be built on, or real estate incorporated with residential buildings or non-residential buildings),
• by mediating the exchange of leases and ownership of apartments and non-residential premises and plots,
• can perform tasks related to the acquisition and preparation of documentation and documents necessary for the execution of transactions - not including the drafting and countersigning of documents.
  

How much is the real estate agent's commission?

What does the salary of a real estate agent depend on? How much does a realtor earn? Many people choose this profession because they hope for a quick, high salary - but the reality is that for a good salary you have to work a lot, and you have to be up-to-date with real estate market news and follow the latest analyses.

Real estate agent fee in 2022

The amount of the real estate brokerage fee depends on the real estate agency and is usually influenced by two things:

• Whether it is for rent or sale
• Also, whether a contract is concluded for an open or priority assignment.

In the case of sublease mediation, the real estate broker's fee corresponds to one month's rent of the rented property. In the case of selling an apartment, the real estate agent's fee is between 2 - 5% with an open (general) assignment, while the commission is around 1.5 - 3% in the case of a special contract.

When filling out the real estate agency contract, it is necessary to go into detail about what tasks the owner entrusts the realtor with, what commitment period the realtor fulfills, and in exchange for how much commission.

What is a real estate broker course?

What does a real estate broker course consist of? Since the law stipulates that a person can become a real estate agent only after completing an OKJ course, it is therefore necessary to complete it.

• from getting to know the basic concepts of the real estate market,
• from property and obligation law issues,
• building structure and building diagnostics,
• and consists of a theoretical part of tax law.

After successfully completing the course, you will receive your certificate, after which you can even start working!