Real Estate Agency Interview and Analysis: Certificate of Registration

This project is a detailed report of a student's visit to a First National Real Estate agency. The report includes observations on the agency's physical setup, work environment, and the roles of the licensee-in-charge. It covers the agent's tasks, including property management, marketing, tenant selection, and responses to market changes. The agent's strategies for acquiring new management, communication methods, and client follow-up are analyzed. The report also explores the agency's advertising methods, client satisfaction surveys, and advice provided to the student. The analysis includes details on the property management and sales departments, the use of Rental Market Analysis (RMA), and the agency's complaint handling procedures. The project provides a comprehensive overview of the agency's operations and strategies in the real estate market.

Running head: CERTIFICATE OF REGISTRATION -REAL ESTATE
1
Certificate of Registration -Real Estate
Name
Institution

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Name of Agency: First National Real Estate
Date of interview:
Nominated Agent:
1.
Photo of the external agency showing agency company signage
2.
The licensee-in-charge is Tony Park.
The services they offer includes; Building and construction of houses and premises, selling
properties, buying properties, property management services inter alia. The licensee-in-
charge holds the broker category licence.

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3.
Agent business Card
4.
During my tour of the agency, I noted that the company is set up in a way that it is visible
to anyone passing nearby. Given the height of the building and the beautiful decoration it’s
easy to notice from a distance. It is set up in a central place that is accessed by many people
at different times. I think the physical set-up for the first national real estate agency is
strategically convenient for the business as it attract more customers given that it’s easy to
notice.
Yes, First national real estate agency is conducive for positive work environment because
the place looks peaceful, the workers are well organized and the environment is clean.
5.
The tasks the agent enlightened me about include;
Providing guidelines and assisting sellers and buyers in marketing and purchasing property
for a good price under best terms

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Determining client’s needs and financial capabilities to suggest solutions that suit them
Conducting comparative market analysis to estimate properties’ value
Display and market real property to prospective buyers
Manage property auctions or exchanges.
6.
The agent is mostly involved in property management. The agent mostly focuses on
commercial properties, upon inquiring from the agent why they focus on commercial
properties; he said that their agency is specialized to handle commercial property transactions
and they have a team in place set up for this given the expertise they possess.
7.
The agent is a property manager and prospects for new management in the following
ways; the agent has set up goals in relation to services they offer and plan to have best of
qualities services offered to their client (Peng, 2018). They have set up one of the most
proficient communication system that makes them easily accessible. They are likely to
succeed in their future plans for the business.
8.
The agent is a property manager and they select the correct tenant for property on the
following basis;
A tenant who has good credit rating
A criminal background check must be conducted on the tenant’s records.
Viewing of the tenant’s rental history
They chose tenants who are stable

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9.
The agent stated that there is a slight difference in dealing with old and new properties.
The difference ranges from management, the prices and the regulations that govern the two
are quite different. New properties are extremely expensive to manage compared to old ones
and the regulations are stricter.
10.
Upon inquiry on the types of meetings that the agency normally has, I received the following
response from the agent; first national real estate normally conducts staff meetings, annual
general meetings, and specific property management, in these meetings issues related to
property management are discussed. Urgent crisis are discussed further and new trends in the
market in real estate are also discussed at the meeting.
11.
The agent told me that they mostly use telephone for communication since it’s the most
convenient and fast method for communication. They call their clients (Vendors and
landlords) on several occasions and they are able to reach them through the telephone line. I
think it’s a good approach given that it’s better compared to emailing since there is
immediate feedback.
12.
The agent attested that when there are changes in the market, they put strategies in place to
adapt to the adjustments in the market trend so that the business does not lose its position in
the market.

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13.
The agent said they follow up on clients through phone calls and also check the files of
clients just in case there is anything that needs to be updated from their end. They also call
clients when seeking clarification on anything.
14.
The agent attested that they meet the buyers/tenants on site. My opinion on taking clients
in my own vehicle is that; it would not be appropriate to take a client in your own vehicle
since it’s not professional and secondly given that one has no proper knowledge of who the
client is. It would be risking one’s own life.
15.
At first national real estate agency, the property management department is separate from
the sales department. In the property management department, there are about 30 employees
while in the sales department there are approximately 50 employees.
16.
The agent ascertained that they use different types of advertising including; newspapers,
magazine, television, radio, leaflets inter alia.
The agent said they get assistance from other departments such as the sales department in
helping them deal with marketing issues.
The agent also stated that the marketing budget is reviewed annually by their team to
monitor the trends in the market.
The agent said that there is department responsible for reviewing the marketing before it is
published and makes any recommendations they deem appropriate.

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The agent responded by saying that, depending with the nature of the transaction, the
landlord/vendor may be involved in advertising of the property.
17.
The agent attested that they use follow-up surveys to monitor their client’s satisfaction. He
said they normally do this using questions mainly based on the services they offer. He further
stated that on most occasions they normally get good results and positive feedback from the
clients. My opinion is that they should adopt methods that encompass modern technology.
18.
Upon inquiring on any advice available, the agent urged me to work hard and monitor the
real estate market trends in order to get acquainted with what is required in the field. The
advice has high value as it positively impacted on my studies and even encouraged me more.
19.
b) The agent is a property manager; current rental market has adapted the use of Rental
Market Analysis (RMA) to determine either the rental potential of a specific area or property.
The agent attested that their rental vacancy rate was at 6.9% by March this year. The rental
vacancy rate reflects the marketing and leasing of properties success.
20.
The agent confirmed that they have complaints register in their office. On how to deal
with complaints, the agent said that there is criteria followed for all consumers who have

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complaints and they must use proper channel by beginning the process with the customer care
department.
21.
While at the agency, I observed that the agency also engages in other activities such as
advising clients on latest rental property listings.

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Reference
Peng, L. (2018). Benchmarking Local Commercial Real Estate Returns: Statistics Meets
Economics. Real Estate Economics. doi:10.1111/1540-6229.12229