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Become A Licensed Realtor

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Working As A Licensed Realtor

  • Getting Information
  • Performing for or Working Directly with the Public
  • Resolving Conflicts and Negotiating with Others
  • Interacting With Computers
  • Selling or Influencing Others
  • Deal with People

  • Make Decisions

  • Stressful

  • $60,000

    Average Salary

What Does A Licensed Realtor Do

Real estate brokers and sales agents help clients buy, sell, and rent properties. Although brokers and agents do similar work, brokers are licensed to manage their own real estate businesses. Sales agents must work with a real estate broker.

Duties

Real estate brokers and sales agents typically do the following:

  • Solicit potential clients to buy, sell, and rent properties
  • Advise clients on prices, mortgages, market conditions, and related information
  • Compare properties to determine a competitive market price
  • Generate lists of properties for sale, including details such as location and features
  • Promote properties through advertisements, open houses, and listing services
  • Take prospective buyers or renters to see properties
  • Present purchase offers to sellers for consideration
  • Mediate negotiations between buyer and seller
  • Ensure that all terms of purchase contracts are met
  • Prepare documents, such as loyalty contracts, purchase agreements, and deeds

Because of the complexity of buying or selling a home or commercial property, people often seek help from real estate brokers and sales agents.

Most real estate brokers and sales agents sell residential property. Others sell commercial property, and a small number sell industrial, agricultural, or other types of real estate.

Brokers and agents can represent either the buyer or the seller in a transaction. Buyers’ brokers and agents meet with clients to understand what they are looking for in a property and how much they can afford. Sellers’ brokers and agents meet with clients to help them decide how much to ask for and to convince them that the agent or broker can find them a qualified buyer.

Real estate brokers and sales agents must be knowledgeable about the real estate market in their area. To match properties to clients’ needs, they should be familiar with local communities, including knowing the crime information and the proximity to schools and shopping. Brokers and agents also must stay current on financing options; government programs; types of available mortgages; and real estate, zoning, and fair housing laws. 

Real estate brokers are licensed to manage their own businesses. As independent businesspeople, brokers often sell real estate owned by others. In addition to helping clients buy and sell properties, they may help rent or manage properties for a fee. Many operate a real estate office, handling business details and overseeing the work of sales agents.

Real estate sales agents must work with a broker. Sales agents often work for brokers on a contract basis, earning a portion of the commission from each property they sell.

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How To Become A Licensed Realtor

Real estate brokers and sales agents need at least a high school diploma. Both brokers and sales agents must be licensed. To become licensed, candidates typically must complete a number of real estate courses and pass a licensing exam. 

Education

Real estate brokers and sales agents must have at least a high school diploma or equivalent. Although most brokers and agents must take state-accredited prelicensing courses to become licensed, some states may waive this requirement if the candidate has taken college courses in real estate. 

As the real estate market becomes more competitive and complex, some employers are preferring to hire candidates with college courses or a college degree. Some community colleges, colleges, and universities offer courses in real estate. Some offer associate’s and bachelor’s degree programs in real estate, and many others offer certificate programs. Courses in finance, business administration, economics, and law also can be useful.

Brokers intending to open their own company often take business courses, such as marketing and accounting. 

In addition to offering prelicensing courses, many real estate associations have courses and professional development programs for both beginners and experienced agents. These courses cover a variety of topics, such as real estate fundamentals, real estate law, and mortgage financing.

Licenses, Certifications, and Registrations

In all states and the District of Columbia, real estate brokers and sales agents must be licensed. Licensing requirements vary by state, but most have similar basic requirements:

Candidates must:

  • be 18 years old
  • complete a number of real estate courses
  • pass an exam

Some states have additional requirements, such as passing a background check. Licenses typically are not transferable among states. However, some states have reciprocity agreements and will accept licenses issued by some other states. 

To obtain a broker’s license, individuals generally need 1 to 3 years of experience as a licensed sales agent. They also must take additional formal training courses. In some states, a bachelor’s degree may be substituted in place of some experience or training requirements. 

State licenses typically must be renewed every 2 to 4 years. In most states, brokers and agents must complete continuing education courses to renew their license. To verify exact licensing requirements, prospective brokers and agents should contact the real estate licensing commission of the state in which they wish to work.

Work Experience in a Related Occupation

To get a broker’s license in most states, real estate brokers must have experience working as a licensed real estate sales agent. Requirements vary by state, but most require 1 to 3 years of experience. 

Training

Real estate sales agents improve their skills through practice and repetition. Because of the sales environment and the complexity of real estate deals, new agents typically observe and work closely with more senior agents. In addition, some of the larger real estate companies provide formal classroom training for new agents as a way to gain knowledge and experience, while others provide training to employees studying for their real estate licensing exam.

Advancement

Sales agents who earn their broker’s license may open their own offices. 

Important Qualities

Business skills. Because most brokers are self-employed, they must manage every aspect of their business. This task includes reaching out to prospective clients, handling their finances, and advertising their services.

Interpersonal skills. Strong interpersonal skills are essential for real estate brokers and sales agents, because they spend much of their time interacting with clients and customers. To attract and keep clients, they must be pleasant, enthusiastic, and trustworthy. 

Organizational skills. Real estate brokers and sales agents must be able to work independently, managing their own time and organizing, planning, and prioritizing their work.

Problem-solving skills. Real estate brokers and sales agents need to be able to quickly (sometimes immediately) address concerns clients or potential customers may have with a property. They also mediate negotiations between seller and buyer.

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Licensed Realtor Career Paths

Licensed Realtor
Account Executive Manager Property Manager
Senior Property Manager
8 Yearsyrs
Account Executive General Manager Property Manager
Regional Property Manager
8 Yearsyrs
Account Executive Manager Vice President
Development Vice President
10 Yearsyrs
Executive Assistant Office Manager Property Manager
Portfolio Manager
7 Yearsyrs
Executive Assistant Office Manager Account Manager
Territory Account Manager
7 Yearsyrs
Executive Assistant Manager Account Manager
Commercial Account Manager
8 Yearsyrs
Legal Assistant Administrator Owner
Owner And Sales
7 Yearsyrs
Legal Assistant Consultant Regional Sales Manager
Business Development Sales Manager
8 Yearsyrs
Legal Assistant Team Leader Customer Service Manager
Inside Sales Manager
6 Yearsyrs
Consultant General Manager Partner
Managing Member
8 Yearsyrs
Consultant Owner Facilities Manager
Real Estate Manager
8 Yearsyrs
Broker Senior Account Executive Communications Manager
Community Association Manager
9 Yearsyrs
Administrator Assistant Store Manager Assistant Property Manager
Commercial Property Manager
7 Yearsyrs
Administrator Customer Service Manager Inside Sales Manager
Inside Sales Account Manager
6 Yearsyrs
Broker Marketing Consultant Communications Manager
Leasing Director
5 Yearsyrs
Broker Underwriter Realtor
Real Estate Management Specialist
7 Yearsyrs
Legal Secretary Assistant Property Manager Real Estate Manager
Acquisitions Manager
7 Yearsyrs
Specialist Legal Secretary Real Estate Paralegal
Real Estate Office Manager
5 Yearsyrs
Senior Account Executive Relationship Manager Client Relationship Manager
Client Relations Manager
6 Yearsyrs
Sales Counselor
Sales Communications Manager
7 Yearsyrs
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Do you work as a Licensed Realtor?

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Do you work as a Licensed Realtor?

Average Yearly Salary
$60,000
View Detailed Salary Report
$30,000
Min 10%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$60,000
Median 50%
$120,000
Max 90%
Best Paying Company
Berkshire Hathaway
Highest Paying City
Charlotte, NC
Highest Paying State
Delaware
Avg Experience Level
4.4 years
How much does a Licensed Realtor make at top companies?
The national average salary for a Licensed Realtor in the United States is $60,880 per year or $29 per hour. Those in the bottom 10 percent make under $30,000 a year, and the top 10 percent make over $120,000.

How Would You Rate The Salary Of a Licensed Realtor?

Have you worked as a Licensed Realtor? Help other job seekers by rating your experience as a Licensed Realtor.

Top Skills for A Licensed Realtor

  1. Real Estate
  2. Prospective Buyers
  3. Residential Properties
You can check out examples of real life uses of top skills on resumes here:
  • Developed referral based residential real estate business selling luxury properties in highly competitive market.
  • Counseled prospective buyers on all phases of home buying including assistance with obtaining financing, home inspections and sales contract negotiation.
  • Provided exceptional customer services by assisting clients in evaluation of properties and management of residential properties.
  • Negotiated purchase agreements while maintaining continuous and professional communication between buyers, sellers, lending and title institutions.
  • Execute and monitor listing and sales contracts from inception to settlement to ensure contractual compliance with all terms and conditions.

Licensed Realtor Resume Examples And Tips

The average resume reviewer spends between 5 to 7 seconds looking at a single resume, which leaves the average job applier with roughly six seconds to make a killer first impression. Thanks to this, a single typo or error on your resume can disqualify you right out of the gate. At Zippia, we went through over 4,630 Licensed Realtor resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

Learn How To Create A Top Notch Licensed Realtor Resume

View Resume Examples

Licensed Realtor Demographics

Gender

Female

55.6%

Male

34.6%

Unknown

9.8%
Ethnicity

White

60.7%

Hispanic or Latino

17.3%

Black or African American

12.3%

Asian

6.2%

Unknown

3.5%
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Foreign Languages Spoken

Spanish

53.3%

French

10.4%

Chinese

3.7%

German

3.7%

Mandarin

3.0%

Italian

3.0%

Portuguese

3.0%

Arabic

3.0%

Hindi

2.2%

Korean

2.2%

Russian

1.5%

Carrier

1.5%

Czech

1.5%

Japanese

1.5%

Persian

1.5%

Cantonese

1.5%

Dakota

1.5%

Vietnamese

0.7%

Romanian

0.7%

Hmong

0.7%
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Licensed Realtor Education

Schools

University of Phoenix

21.7%

Hondros College

7.9%

Strayer University

5.1%

Arizona State University

4.6%

Temple University

4.6%

Georgia State University

4.6%

University of Central Florida

4.6%

Texas A&M University

4.3%

University of Texas at Austin

4.3%

Kaplan University

4.1%

University of Texas at Arlington

3.8%

Pennsylvania State University

3.8%

Florida International University

3.8%

University of Delaware

3.6%

Florida Atlantic University

3.3%

University of Maryland - University College

3.3%

Ashford University

3.1%

University of Minnesota - Twin Cities

3.1%

University of Houston

3.1%

University of South Carolina - Columbia

3.1%
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Majors

Business

32.1%

Real Estate

16.9%

Psychology

5.5%

Accounting

4.7%

Communication

4.7%

Marketing

4.4%

Management

3.6%

Finance

3.4%

Education

3.3%

Legal Support Services

2.5%

Nursing

2.2%

Criminal Justice

2.2%

Human Resources Management

2.1%

Liberal Arts

2.0%

Political Science

2.0%

General Studies

1.8%

English

1.8%

Law

1.8%

Computer Science

1.6%

Elementary Education

1.6%
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Degrees

Bachelors

37.7%

Other

28.8%

Masters

11.2%

Associate

10.8%

License

5.0%

Certificate

4.1%

Doctorate

1.5%

Diploma

1.0%
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