Property assistant

A property assistant

Description

Property assistants perform several duties including administrative tasks in the real estate sector. They provide clients with financial information about properties and advise them, they schedule appointments and organise property viewings, they prepare contracts and assist in property valuation.

The duties of a property assistant include, but are not limited to:

  • Greeting clients, answering the telephone, and making follow-up calls.
  • Preparing correspondence, scheduling meetings, and making travel arrangements.
  • Preparing real estate forms and documents.
  • Coordinating showings, assisting at open houses, and obtaining feedback.
  • Ordering supplies, preparing and distributing marketing materials.
  • Maintaining electronic and paper filing systems.
  • Preparing listing materials and posting property listings.
  • Managing a client database and preparing reports.
  • Assisting with closing processes.
  • Performing other duties as assigned.

Other titles

The following job titles also refer to property assistant:

real estate clerk
real estate agent assistant
viewing and sales assistant
property clerk
real estate assistant

Working conditions

Most property assistants work an average of 37 to 40 hours per week. Property assistants in the real estate industry may work evenings and weekends, as much of the business conducted in this field occurs during nontraditional business hours.

Although property assistants perform a variety of tasks, the job itself can be fairly routine and repetitive. Property assistants often interact with accountants, real estate agents, and other office personnel and may work under close supervision.

Minimum qualifications

A high school diploma or equivalent is generally the minimum required to work as a property assistant.

ISCO skill level

ISCO skill level is defined as a function of the complexity and range of tasks and duties to be performed in an occupation. It is measured on a scale from 1 to 4, with 1 the lowest level and 4 the highest, by considering:

  • the nature of the work performed in an occupation in relation to the characteristic tasks and duties
  • the level of formal education required for competent performance of the tasks and duties involved and
  • the amount of informal on-the-job training and/or previous experience in a related occupation required for competent performance of these tasks and duties.

Property assistant is a Skill level 2 occupation.

Property assistant career path

Similar occupations

These occupations, although different, require a lot of knowledge and skills similar to property assistant.

investment clerk
insurance clerk
billing clerk
foreign exchange cashier
pawnbroker

Long term prospects

These occupations require some skills and knowledge of property assistant. They also require other skills and knowledge, but at a higher ISCO skill level, meaning these occupations are accessible from a position of property assistant with a significant experience and/or extensive training.

letting agent
real estate investor
real estate agent
real estate surveyor
property appraiser

Essential knowledge and skills

Essential knowledge

This knowledge should be acquired through learning to fulfill the role of property assistant.

  • Customer service: Processes and principles related to the customer, client, service user and to personal services; these may include procedures to evaluate customer’s or service user’s satisfaction.
  • Real estate market: The trends concerning the buying, selling, or renting of property, including the land, buildings, and natural resources encompassed within the property; the categories of residential properties and properties for business purposes which such properties are traded in.
  • Office software: The characteristics and functioning of software programs for office tasks such as word processing, spreadsheets, presentation, email and database.
  • Electronic communication: Data communication performed through digital means such as computers, telephone or e-mail.

Essential skills and competences

These skills are necessary for the role of property assistant.

  • Collect property financial information: Collect information concerning the previous transactions involving the property, such as the prices at which the property had been previously sold and the costs that went into renovations and repairs, in order to obtain a clear image of the property’s value.
  • Communicate with customers: Respond to and communicate with customers in the most efficient and appropriate manner to enable them to access the desired products or services, or any other help they may require.
  • Organise business documents: Put together documents coming from the photocopier, the mail, or the daily operations of businesses.
  • Process commissioned instructions: Process instructions, usually oral ones, provided by managers and directives on actions required to be made. Take note, inquire, and take action on the commissioned requests.
  • Maintain records of financial transactions: Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.
  • Identify customer’s needs: Use appropriate questions and active listening in order to identify customer expectations, desires and requirements according to product and services.
  • Inform on renting agreements: Inform landlords or tenants of a property on the duties and rights of the landlord and tenant, such as the landlord’s responsibility for the upkeep of the property and the eviction rights in the event of a breach of contract, and the tenant’s responsibility to pay rent in a timely manner and avoid negligence.
  • Obtain financial information: Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
  • Use office systems: Make appropriate and timely use of office systems used in business facilities depending on the aim, whether for the collection of messages, client information storage, or agenda scheduling. It includes administration of systems such as customer relationship management, vendor management, storage, and voicemail systems.
  • Perform office routine activities: Program, prepare, and perform activities required to be performed everyday in offices such as mailing, receiving supplies, updating managers and employees, and keeping operations running smoothly.
  • Prepare inventory of properties: List all the items present in a property building which is leased or rented, in order to have a contractual agreement between the owner and the tenant.
  • Provide information on properties: Provide information on the positive and negative aspects of a property and the practicalities concerning any financial transactions or insurance procedures; such as location, composition of the property, renovation or repair needs, the cost of the property and the costs related to insurance.
  • Fix meetings: Fix and schedule professional appointments or meetings for clients or superiors.
  • Communicate by telephone: Liaise via telephone by making and answering calls in a timely, professional and polite manner.
  • Handle financial transactions: Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.

Optional knowledge and skills

Optional knowledge

This knowledge is sometimes, but not always, required for the role of property assistant. However, mastering this knowledge allows you to have more opportunities for career development.

  • Accounting techniques: The techniques of recording and summarising business and financial transactions and analysing, verifying, and reporting the results.
  • Advertising techniques: The communication strategies intended to persuade or encourage an audience, and the different media which are used to achieve this goal.
  • Property law: The law and legislation that regulates all the different ways to handle property, such as the types of property, how to handle property disputes and property contract rules.
  • Marketing principles: The principles of managing the relationship between consumers and products or services for the purpose of increasing sales and improving advertising techniques.
  • Concurrent estate: The concept in property law which stipulates the rights and duties of two parties co-owning a property, and the various ways in which co-tenancy is possible.

Optional skills and competences

These skills and competences are sometimes, but not always, required for the role of property assistant. However, mastering these skills and competences allows you to have more opportunities for career development.

  • Trace financial transactions: Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.
  • Prepare sales checks: Provide customers with official documents that prove their purchase and payment.
  • Liaise with local authorities: Maintain the liaison and exchange of information with regional or local authorities.
  • Maintain inventory of office supplies: Keep inventory of office supplies such as equipment and stationery items to avoid out of stock or misuse of the supplies.
  • Advise on property value: Provide advise to those that own a property, professionals in real estate, or prospective clients in real estate on the current monetary value of a property, the potential of development in order to increase the value, and other relevant information concerning the value of the in the future developments of the real estate market.
  • Assist in loan applications: Assist clients with filling out and managing their applications for loans by providing them with practical assistance, such as provision of relevant documentation and instruction on the process, and other advice such as any arguments they could bring forward to the lending organisation in order to secure the loan.
  • Attend trade fairs: Attend exhibitions organised to enable companies in a specific sector to demonstrate their latest products and services, study the activities of their competitors, and observe recent market trends.
  • Estimate profitability: Take various factors into account to calculate the cost and potential revenues or savings gained from a product in order to evaluate the profit that could be generated by the new acquisition or by a new project.
  • Create a financial plan: Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
  • Advise on investment: Assess the customer’s economic goals and advise on the possible financial investments or capital investments to promote wealth creation or safeguarding.
  • Prepare financial statements: Collect, entry, and prepare the set of financial records disclosing the financial position of a company at the end of a certain period or accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.
  • Prospect new customers: Initiate activities in order to attract new and interesting customers. Ask for recommendations and references, find places where potential customers can be located.
  • Liaise with property owners: Establish good working relations with the owner, signal problems and renovation needs, and advise on the choice of tenants.
  • Handle tenant changeover: Discuss administrative matters with the previous and future tenants and inspect the rented accommodation (rooms, apartments, houses) to make sure that the renovation and maintenance agreement has been respected.
  • Examine the conditions of buildings: Monitor and assess the conditions of buildings in order to detect faults, structural problems, and damages. Assess general building cleanliness for grounds maintenance and real estate purposes.
  • Value properties: Examine and evaluate land and buildings in order to make valuations about their price.
  • Negotiate on asset value: Negotiate with asset owners or parties involved in handling the asset on the monetary value of the asset for selling, insurance, usage as collateral, or other purposes, in order to secure the most financially beneficial agreement for the client.
  • Compare property values: Obtain information on the value of properties comparable to a property which is in need of valuation in order to make more accurate appraisals and assessments, or to set or negotiate the price at which the property can be sold or leased.
  • Plan buildings maintenance work: Schedule maintenance activities of property, systems and services to be deployed in public or private buildings, according to the priorities and needs of the client.
  • Perform property market research: Research properties in order to assess their usefulness for real estate activities, using various methods such as media research and visitation of properties, and identify the potential profitability in the development and trading of the property.
  • Organise property viewing: Organise events in which prospective buyers or tenants of a property can visit the property in order to assess whether it is suitable to their needs and to obtain information, and organise plans to liaise with the prospective customers in order to secure a contract.
  • Organise a damage assessment: Organise a damage assessment by indicating an expert to identify and examine the damage, give information and instructions to experts and follow up on the experts, and write a damage report.

ISCO group and title

4312 – Statistical, finance and insurance clerks


References
  1. Property assistant – ESCO
  2. Real Estate Assistant Job Description – Betterteam
  3. Real estate clerks – Firsthand.co
  4. Featured image: Photo by Scott Graham on Unsplash
Last updated on December 9, 2022

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