Commercial Agency Service: Functions of A Placement Agency, Preparing a Data Bank and Arranging Interviews

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Functions of a Placement Agency

There are various functions that a placement agency performs. These are as follows:

Image of Functions of A Placement Agency

Image of Functions of a Placement Agency

Image of Functions of A Placement Agency

Preparing a Data Bank

These agencies have a huge data bank of all the prospective employers and job seekers. This data bank helps them to find out the suitable employer for a job seeker, and vice versa.

Inform the Job Seekers About the Availability Suitable Jobs

The placement agents inform the job seekers periodically about the employers and the availability of jobs according to their qualifications, skills and experience.

Helping Candidates in Preparing Bio Data

They also help the candidates to prepare their biodata and other documents.

Arranging Interviews

They negotiate and arrange interviews for the candidates and sometimes also give them tips on how to appear for interviews.

Negotiation on Salary and Other Emoluments

On behalf of the candidate they sometimes negotiate with the company about salary and other terms and conditions of employment.

Property Agent

  • Agents who act on behalf of buyers and sellers of properties are known as property agents. Such agents also act on behalf of those who wish to get properties on rent or on lease and so also the owners of properties who wish to rent out or lease their properties. It may be noted that properties include moveable as well as immoveable properties, but the property agents do not undertake deals involving moveable properties like automobile, machinery or furniture. They are engaged in the process of buying, selling or renting of immoveable properties only. Such properties may include a plot of land, a flat or building for residential or commercial purpose, a factory, shop, farmland, etc.

  • Property agents act as middlemen in buying and selling of properties and charge a commission or fee for their services. Likewise, they charge commission or fee from parties who seek their assistance in renting the property. In other words, they charge both the parties, the property owner as well as the buyer or the tenant.

  • A property agent keeps on record details of properties which are on sale or available on rent in the area of his operation. He also notes the price at which the owners expect to sell, or the rental, advance deposit and other terms which the owners have in view. One who intends to buy or rent a property intimates his requirements to the agent, and is informed about the availability of properties, which may suit his purpose. He is duly informed about the price or rent, etc. The party may also like to inspect one or more properties before making his choice, hence visit is arranged by the agent.

  • The services of property agents are found to be most useful in growing metropolitan cities and towns. Depending upon their contacts and information regarding properties available for sale or renting, some agents restrict their areas of operation, while others have wider areas. The latter group generally advertises in newspapers about the nature of properties which are available for sale or on rent. The earnings of the property agents depend upon the value of the property bought and sold, or the amount of rental for hire.

Functions of Property Agent

Property agents generally perform the following functions:

  • They procure information relating to properties available for sale or on rent in the area of operation.

  • They keep record of details of such properties including name(s) of owner(s), name(s) of occupier, location, size or area, facilities available nearby, whether freehold or leasehold, price or rent expected by the owner(s).

  • They check the title deeds in respect of the properties on sale.

  • They record the rent expected, advance payment, or security deposit desired, and other terms and conditions which owner(s) of properties have in view for renting.

  • They communicate to the public through posters, handbills or newspaper advertisements the nature of properties which are available for purchase or renting.

  • They provide necessary information to the intending buyers or tenants about the properties suited to their requirements.

  • They arrange inspection of the properties by the parties interested.

  • They ensure a fair deal between property owners on the one hand and the buyers or tenants of properties on the other.

  • They help buyers and tenants to complete the deal with owners by legal transfer of ownership or signing of rent agreement and payments required to be made.

  • They assist the buyer or tenant to secure possession or occupy the property.

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