Real estate agents assist with the purchase or sale of property from the beginning to the end and represent the clients’ best interests.
In the following article, we will explore the duties and activities, working hours, training, the salary of a real estate agent, and more.
Real estate agents handle sale, purchase, and lease of properties.
They provide comparable price analyses and marketing for sellers, as well as price negotiations and advice depending on the financial and personal needs of a client.
They generate and follow up sales leads and obtain referrals to generate business.
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Usually, they are independent contractors.
What Does a Real Estate Agent Do
The salary of a real estate agent depends on commissions.
Their average income is about $45,000.
Real estate agents can be employed full- or -part-time for 20 to over 60 hours a week.
Their daily activity includes touring homes, meeting with clients, and interacting with colleagues.
They make the calls to follow up sales leads and keep the customers updated on the sales process.
Agents have to find the houses that meet buyer’s requirements and provide the listing information to them.
They also tour homes to get information about the inventory.
Agents provide an in-depth analysis of the market to clients.
- Generate leads for sellers and buyers.
- Schedule showings and then follow up with other agents to provide feedback for sellers.
- Make Competitive Market Analyses.
- Promote listings on behalf of sellers.
- Make sellers aware of disclosure policies.
- Advise sellers on staging their property for sale.
- Show homes to buyers according to their needs.
- Hold open houses.
- Pass all purchase offers to sellers.
- Assist buyers with picking a mortgage loan that suits their needs the best.
- Negotiate prices.
- Review the results of the inspection and take necessary action.
- Work closely with title companies to ensure a smooth transfer.
- Attend all closings.
Real estate agents need excellent communication skills to effectively interact with sellers and buyers.
Marketing skills are essential as well and allow real estate agents to market listings to agents and buyers efficiently.
Good real estate agents should be responsive, promptly answering clients’ questions and concerns.
Ability to multitask:
Real estate agents can work with multiple clients at a time, so they need to multitask effectively.
Since real estate agents are independent contractors, they need to be flexible to deal with every unique situation.
How to Become a Real Estate Agent
Education requirements for the real estate agents vary from state to state.
Commonly, they need 60 or more hours of education for the job.
Also, agents should be at least 18 years old.
After they complete their education, agents should pass a state and national examination.
Typically, they also have to pass a background check.
After that, the candidates join a brokerage and should get their license activated.
Additionally, they have to pay membership and MLS fees.
Another thing to consider is becoming a realtor by joining the National Association of Realtors.
Training and Qualification
First off, you need to check the requirements of your state to become a real estate agent.
You will have to take a pre-licensing course.
It usually lasts for 60 to 135 hours of education in a classroom or online.
You will learn about the principles and laws of real estate.
After successfully completing that, you will have to take your state and national examinations.
They usually include math and multiple-choice questions.
Often, candidates take the exams more than once since there is a 50% failure rate.
You can find the exam prep classes in many real estate schools.
Once you pass the examination, you can apply for state licensure and join a brokerage.
You can also join the National Association of Realtors.
With that, you can get additional benefits such as access to additional market data, discounts on continuing education courses, or management services.
Usually, you will have to renew your license every two years, so continuing education is necessary for that.
Typically, a background check is also required.
New real estate agents are usually trained on the job at the chosen brokerage.
They also provide ongoing guidance for newcomers.
Getting a job as a real estate agent is relatively easy.
Most brokerages hire new agents without any experience, as they provide training.
It is important to remember that at most brokerages, real estate agents are getting paid on a commission basis.
Many agents look for employment before they pass the exam.
Most experience is usually acquired on the job.
New agents can benefit from daily or weekly training sessions provided by brokerages as well as acquire role-playing experience while in training.
You may also get a chance to work together with a seasoned agent to gain experience and learn techniques.
The schedule of real estate agents isn’t a typical 9-5 one.
As they are independent contractors, they usually set their schedules through appointments.
Depending on the needs of their clients and their own availability, agents may work early in the morning or late at night.
Often, real estate agents also work on the weekends.
It’s quite common to work extra hours as an independent contractor since the workweek isn’t typical 40 hours.
Real estate agents can be employed full- or part-time, so they work as much or as little as they want.
On average, real estate agents work about 50 hours a week.
Part-time agents can be busy for about 20 hours a week.
The field of real estate is really competitive.
Agents should generate most of their business, with a not guaranteed salary.
With enough effort though, real estate agents can succeed.
Their income usually depends on market conditions.
The median salary of a real estate agent is $46,285.
The top employees can make $150,000 and more.
With more experience, the salary can raise through repeat business and referrals.
With minimal and inexpensive education, this profession is worth an investment.
Agents can advance to top producing agents or brokers quite quickly.
The career of a real estate agent can be exciting and lucrative.
The job is quite flexible, so you can set your own schedule.
This job is interactive and dynamic.
It’s not hard to get a job, but the real estate field can sometimes be unstable.