Real Estate Agency Structure and Personnel

Research Information

Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
CONCLUSION..........................................................................................................................................6
REFERENCES..........................................................................................................................................7

INTRODUCTION
The real estate industry refers to the land as well as buildings that are primarily used by
industrial businesses for different activities such as factories, mechanical productions etc. There
are various types of real estates such as commercial, residential, industrial and vacant land
(Adnan and et.al., 2017). The report explains the real estate agency structure and personnel. It
also explains the legislation relating to the ethics as well as professional conduct of the real estate
agents as well as agents’ representatives.
MAIN BODY
Real estate agencies offer various business ownership options as well as services. Most
agents in the real estate are independent contractors, who are self-employed business owners
affiliated with a real estate broker who has a license. As such, it can be said that they run
independent businesses. The different forms of business ownership options that are offered by
real estate agencies include sole proprietorship, partnership corporation as well as limited
liability company. Real estate agencies offer various kinds of services such as property staging,
buying and selling different real estate properties, new construction as well as rental and
investment properties. A real estate administrator is responsible for overseeing the day-to-day
operations of the real estate offices. They have to interact with tenants and also, coordinate with
property managers. On the other hand, estate agents are responsible for mainly working with the
home buyers and sellers during the sales and purchases of homes (Botzem and Dobusch, 2017).
They also play a role in guiding and assisting with tasks such as visiting homes that are for sale,
listing properties etc. An agent’s representative has the responsibility of performing any legal
functions that of an estate agent. Such as they can act as either a salesperson or a property
manager. Lastly, the management is responsible for acting in the best interest of the owner and
keep it occupied with the tenants. The legislation that relates to real estate in Australis is the Real
Property Act 1900 and Real Property Regulation 2019.
There are different legislations in Victoria, Australia that relate to regulation of the real
estate. These include the Estate Contracts Regulations 2008, Estate Agents Education
Regulations 2008, Estate Agents Exemption Regulations 2014, Estate Agents Fees Regulations
2018 and Estate Agents (Retirement Villages) Regulations 2016. A real estate sales manager in