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Process Flow of a Real Estate Business

   

Added on  2020-05-04

4 Pages1053 Words114 Views
Process Model of a Real Estate Business.Process Flow diagrams of a Real Estate Business in AustraliaStudent Roll No.HP

Process flow of a Real Estate businessIntroductionThe real estate business in Australia has been very dynamic over the past few years, with a lotof new innovations and changes in the market, as with the real estate agencies. The real estateagents in Australia generally have a very professional attitude and are updated intechnological knowledge and general information about the local market, which enables themto present a clear picture to their clients while making a deal (Graff et.al, 1997). Theparticular feature about the Australian real estate market and the agencies is that there is agreat variation in the land specifications owing to geography, and the prices related to that inthe market (Bond et.al, 2003). It has been recently noted that prices for housing as well asproperties in Australia were comparatively one of the highest while comparison with otherparts of the world. The real estate market is very competitive and tough in Australia, with different factorsinfluencing the market, like foreign investments and a high incidence of immigration fromother countries (Crowe et.al, 2013). The general working structure of a real estate agencyconsist two main duties. One is to buy a property or a home, or to sell the same. Dependingon the area, Australian real estate agencies trade in small homes, to mansions in exoticlocations with extraneous luxury. The real estate agencies in Australia normally work aseither a listing agent, who helps in selling the plot, or a buyer’s agent, who helps aprospective buyer select his home or plot of choice. The working procedure of a real estateagency is simple; the agency acts as a middleman, negotiating the price between the buyerand the seller and acts in favor of its client who could be either of the two (Wills, 2008). Theagency charges a fee for their services, which is normally a percentage of the sum of moneyinvolved in the real estate deal. 2 | Page

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