Real Estate Agency

Question: Describe about the Relationship between agent and client of Real Estate Agency? Answer: Introduction All real estate agents are required to maintain a very healthy and smooth relationship between them and the clients (Daneshvary and Clauretie, 2012). However, under many such circumstances it is always not possible to avoid problems. Hence, the responsibility to avoid any clashes and problems with the clients it is the real estate managing agents who should take the initiative and attempt to make the relationship between them better (Norwood, 2013). Facts of the Case In the given case, the scenario states that the owners had complained regarding the waste management and car parking problems to the managing agency and also requested for immediate solution to the problem. Although the managing agent had made serious attempts to resolve the problem it was not solved. The primary reason for the problem being consistent is that firstly it was not possible to directly blame one party for the problems. Further, even when consider a particular party to be at fault none of them accepted to come forward and make allegations. Relationship between agent and client Hence, depending on the above facts the agenda of the meeting between the real estate managing agent and the owner or the client would be maintained (Marona, 2013). While conducting a smooth meeting with the client it is important for the real estate agent to keep in mind a few essential factors. Firstly, it is important to know the client well in order to be well acquainted with the owner or the client. Secondly, the agent should ask questions in order to solve any doubts in the minds of the owner or the client (Arnold, 1992). Thirdly, when the clients do demand things which are beyond the capabilities of the agent it is important to negate such things and finally the agents should always try to their best capability to solve the problem and satisfy the client. Hence when the real estate agent goes for a meeting with the owner he should have these particulars in his mind. Meeting Agenda Before appearing for a meeting with the owner it is essential to set up a proper agenda for the meeting. Firstly, the owner should be informed of the date, time and place of the meeting. When the meeting with the owner starts the principle rule for all agents is to listen to the problem of the owner. Since in the given case, the instructions were already received from the owner regarding the complaint, the owner and the agent is required to discuss over those points. Accordingly, the owner was facing problems with the car parking and waste management in the flats. Here the agent should actively listen to the exact problems that the owner is facing with regard to these problems (Brinkmann, 2000). The second step would be to look for a viable solution to the stated problem that would be in favor of the client. In the given case, the matters had already been communicated with the owner as to the problems that are being faced with regard to the solving of the problem relating to car park ing and waste management (Fraser and Farbenbloom, 1989). In this regard it is also essential for the agent to state that he has already made the attempts to resolve the matter with the other parties and that such an attempt had failed. The agent is required to describe the entire matter with regard to the discussion between the other parties and him to the owner. He should also state about the faults of one of the parties which no other people are ready to complain about. The agent should state about how the investigation on the matter has been carried out by him and how much progress has been made in this area and also what are the hindrances that the agent is facing while solving the problem (Brinkmann, 2000). The next step would be to describe to the clients as to what the entire process of investigation and then ask for any suggestions that the owner could give to resolve the issue. After considering all the suggestions from the client with regard to the existing problem, and after assuring the client of the genuine efforts put in by the agent, the meeting between the agent and the client should proceed to the concluding part of the discussion. The agent should then assure the client that within a stipulated time period the problem with regard to the waste management and car parking would be resolved. Further with regard to the parties that are causing this problem, they would be warned and action would be taken against them in case they continue to commit any further nuisance. Conclusion While conducting a meeting with the client it is essential for the agent to remember that under all circumstances it is extremely important to maintain a very good and healthy relationship with the client. Hence it is essential that any problem arising with the clients should be resolved amicably and as soon as possible. References Arnold, M. (1992). The Principal-Agent Relationship in Real Estate Brokerage Services.Real Estate Economics, 20(1), pp.89-106. Brinkmann, J. (2000). Real-estate agent ethics: Selected findings from two Norwegian studies.Business Ethics, 9(3), pp.163-173. Daneshvary, N. and Clauretie, T. (2012). Agent Change and Seller Bargaining Power: A Case of Principal Agent Problem in the Housing Market.The Journal of Real Estate Finance and Economics, 47(3), pp.416-433. Fraser, R. and Farbenbloom, S. (1989).The administrative and legal framework of real estate agency in Australia. Perth, W.A.: Division of Business Administration, Curtin University of Technology. Marona, B. (2013). Use of the Agency Theory to Analyze the Commissioning System of Commune Real Estate Management.Real Estate Management and Valuation, 21(3). Norwood, G. (2013).Twenty-First Century Estate Agency. London: Routledge.