Leasing Agent Job Description

Leasing agents perform an important task of finding lessees for the landlords. But is that all they do? Here’s a detailed article on what a lease agent does.

Leasing Agent Job Profile

So while the principal task of the leasing agent remains ensuring that a homeowner or landlord’s piece of land does not lie unused, there’s more to the job. They usually operate as free agents, unattached to any company. They work on a commission basis and help bring a homeowner and a lessee together and strike a deal between the two. They provide a range of services to the lease giver, and charge commensurately for the services.

Finding Lessees
The leasing agent needs to be pretty well connected and have a good network. It is his job to offer his services to both parties, the lease giver on one hand and the lessee on the other. The leasing agent maintains a record of his clients, what are the exact dimensions of the land to be leased and on the other hand, what are the requirements of the lessee. By matching the two, the leasing agent ensures that the two parties meet and reach a mutually agreeable arrangement to lease the land.

Screening the Applicants
Often the landlords have a busy schedule, therefore they pay the leasing agent for screening the applicants. The agents may also offer the service of doing a background check on the applicants, making sure that their financial position is stable and there is no reason why the applicant, if given the lease to the land, will come up with any sort of trouble while making the periodical payments. They may also go so far as to do a check for any criminal records.

Drawing Up the Lease Papers
The leasing agent if qualified to do so, can also offer to draw up the papers for lease. The papers are basically the contract agreement, between the lease giver agreeing to lease the property for a period of time, and the lessee agreeing to pay the periodical amounts that the lease demands. Sometimes he is also required to be the custodian of these legal documents.

Since the leasing agent works as a proxy and interface for both the lease giver and the lessee, it is also part of their job to communicate any details from either party to the other.

Leasing Agent’s Salary

While discussing career opportunities it is pretty important to know the how much you’re going to get paid for it. A leasing agent works on a commission basis, and his remuneration is largely based on the number and size of the deal, and the amount of activities he chooses to undertake along with leasing.

One who provides a whole range of services will get paid a lot more than someone who simply ensures that the lease giver meets the lessee and ends his work there. By size of the deal, I mean that a leasing agent who trades prime property worth a higher amount will be paid more as the commission, which is largely calculated as a percentage of the deal finalized.

Having said that, the national average salary for leasing agent can be estimated to be around USD 47,051 annually. The job of a leasing agent can be highly remunerative, if you work in the right area for the right people, and strike the right deal at the right time.

Leasing Consultant Job Description

Have you ever had the need of leasing a shop for business purposes or an apartment for residential purposes? In this search, you might have come across a real estate professional who may have shown you the property of your choice. That person can be a leasing consultant. You must remember what had transpired between you two during the transaction you were interlocked in.

Who is a Leasing Consultant?

A leasing consultant is a person whose job is similar to that of a sales professional. He may work in a variety of fields where sales are required to be generated. However, the real estate sector is one field wherein the services of a leasing consultant are most required. If you are thinking about the their job description, the main duties are to show real estate to prospective clients for renting and after the deal is done, to make sure the customers are satisfied with the deal and the aftereffects.

Job Description of a Leasing Consultant

A leasing consultant in a real estate sector is required to conduct a search for attracting customers to the real estate property that is available with him to be rented out. He has to manage all aspects of real estate marketing. He has to schedule appointments for showing the property to potential customers. He is supposed to greet customers and show them all aspects of the real estate to be given on lease. A leasing consultant also has to discuss with the potential customers regarding their requirements and property preferences. He has to clarify any doubts relating to the houses, apartments, or shops shown.

Leasing consultants need to have a thorough knowledge of all aspects of the real estate field in the market, such as leasing rates and location specifications. Before showing the property, he has to make sure that it is ready to be shown to prospective clients. He has to carry out all the responsibilities and formalities for leasing a particular property to the customer. He has to do a background check on the potential customers regarding if there is a risk in dealing with them. Real estate negotiations is also a very significant task that he needs to perform.

After the leasing deal is done, he has to explain to the customers all the community policies and procedures. Another important duty is to collect the security deposit, rent, and other charges required for residing at that particular place. Leasing consultants also have to ensure that the current customer do not face problems in their daily living regarding the rented real estate. They have to maintain healthy relations with the clients in order to get more business through references.

A leasing consultant has to handle complaints and issues regarding any conflicts between two customers if they are neighbors and are sharing the same walls, ceiling, floors, etc. He has to take all necessary steps to make sure the resident customers are comfortable in their living. In few cases, leasing consultants are also handed over the responsibility of overseeing and managing other real estate staff or housekeeping professionals.

This was just a short explanation on the job description of a leasing consultant. The duties and tasks that a they have to perform varies largely from the field of employment and the situation to attract business. In order to become a leasing consultant you are required to have good communication, knowledge of sales and marketing, persuasive, problem solving, and customer service skills.

Real Estate Appraiser Job Description

There are innumerable work profiles in the job market, making it difficult for a candidate to choose the right career. The key in making the right career decision lies in understanding your interests and doing a thorough analysis of the concerned career. Real estate is a booming field and a real estate appraiser is an integral part of this sector. His primary task is evaluating the price of a property after doing thorough research. Accurate value of a property is required during purchase or sale of property, or during mergers, for application of loans, etc. The job also comes with huge responsibility on some occasions, the testimony of an appraiser is required in court hearings to evaluate and confirm the value of a property in matters of dispute.

Where does he work?
Real estate appraisers work for real estate companies, in mortgage firms, insurance companies, banks or work privately.

What are his duties?

  • The chief duty of the concerned person is appraising a property. To accomplish this task, he has to inspect the property and evaluate factors like construction and plan of the property.
  • He should keep himself abreast with the trends that govern the real estate market.
  • After evaluating all the factors he has to prepare reports; the reports generally include photographs, description of the concerned property, blueprint of the property and the final assessment of the valuation.
  • To determine the exact value of the property he can scrutinize public records of loans and leases.
  • During the inspection process he also has to consider the impact of neighboring structures, like commercial establishments or educational institutes, on the value of the said property.
  • To determine the exact value of the property he should consult realtors, property owners and contractors to gain required information concerning the property.

What are the educational qualifications to become one?
The requirements to become a real estate appraiser are not very stringent, although the licensing procedure that is mandatory in appraising federally governed transactions is quite strict. The following three licenses are widely accepted – the State Licensed Appraiser license, the Certified General Real Property Appraiser license, and the State Certified Residential Real Property Appraiser license. The State Office for Real Estate Appraisers (OREA) manages the licensing procedure and also conducts the necessary examination. The candidates working to get a license have to complete internship at real estate companies, or with independent appraisers, or financial institutes; this is a part of the licensing procedure. There are many colleges and educational institutes that offer courses in real estate appraisal. It is important that you become a licensed appraiser, as you will have the authority to validate any property.

What additional skills should I have to be successful in this field?
The desirous candidate should have strong command over mathematics and logic. The appraisers are expected to have sound knowledge of accounting, management principles, human resources and word processes. The appraiser should have the ability to solve complex problems, and at the least should have documenting skills to describe the property with all its landmarks.

How much can I expect to earn?
We cannot provide an accurate salary figure as the pay is influenced by plenty of factors, including the state of working and the type of appraising, that is, private or public. Commercial appraisers can expect to earn around $85,000 per year. Work experience of the person can influence the salary figures to a huge extent. State appraisers are entitled to get benefits in the form of sick leaves and health plans.

What are the future prospects in the field?
The scope of the concerned field is a factor you should pay keen attention to. Most appraisers specialize in a particular type of evaluation or climb the ladder to become senior appraisers or real estate analysts. After sufficient years of experience, appraisers can also become consultants.

Becoming a real estate appraiser is indeed tough; it demands hard work from the candidate along with expertise in many concepts, especially in mathematical evaluation and in the understanding of business terms. The desirous candidate should also be ready to travel as his work requires him to visit and inspect the land property. The career is suitable for you if you have it in you to become an appraiser.