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Become A Real Estate Account Executive

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Working As A Real Estate Account Executive

  • Getting Information
  • Establishing and Maintaining Interpersonal Relationships
  • Updating and Using Relevant Knowledge
  • Interacting With Computers
  • Organizing, Planning, and Prioritizing Work
  • Make Decisions

  • Stressful

  • $74,000

    Average Salary

What Does A Real Estate Account Executive 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 Real Estate Account Executive

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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Real Estate Account Executive Career Paths

Real Estate Account Executive
Senior Accountant Accounting Manager
Assistant Controller
6 Yearsyrs
Senior Accountant Accounting Manager Controller
Accounting Director
11 Yearsyrs
Senior Accountant Controller
Finance Controller
9 Yearsyrs
Accounting Manager Owner Sales Vice President
Senior Vice President, Sales
14 Yearsyrs
Controller Operations Manager Regional Sales Manager
National Sales Director
11 Yearsyrs
Realtor Marketing Director
Director New Business Development
11 Yearsyrs
Realtor Communications Manager Product Marketing Manager
Marketing And Operations Manager
5 Yearsyrs
Realtor Site Manager Property Manager
Real Estate Manager
8 Yearsyrs
Manager Sales Manager Account Manager
Major Account Manager
7 Yearsyrs
Manager Store Manager Branch Manager
Business Development Officer
7 Yearsyrs
Manager Account Manager Marketing Manager
Business Development And Marketing Manager
7 Yearsyrs
Owner Business Owner Business Manager
Business To Business Sales Manager
7 Yearsyrs
Owner President/Owner Sales Account Manager
Business Development Account Manager
7 Yearsyrs
Project Manager General Manager Market Manager
Market Sales Manager
6 Yearsyrs
Project Manager Owner/Operator Sales Account Manager
Account Services Manager
6 Yearsyrs
Project Manager Service Delivery Manager Relationship Manager
Business Relationship Manager
9 Yearsyrs
Sales Manager Regional Accounts Manager Customer Account Manager
Inside Sales Account Manager
6 Yearsyrs
Sales Manager Regional Sales Manager Vice President & Sales Manager
Associate Vice President
9 Yearsyrs
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Top Skills for A Real Estate Account Executive

  1. Real Estate
  2. Financial Statements
  3. General Ledger Accounts
You can check out examples of real life uses of top skills on resumes here:
  • Solution-based B-to-B selling relating to comprehensive real estate financing strategies.
  • Performed all accounting functions including corporate and limited partnership financial statements, tax preparations and inventory control.
  • Reconciled general ledger accounts for area of responsibilities.
  • Verify the accuracy of journal entries and accounting classifications assigned to various records.
  • Prepared annual common area maintenance and property tax reconciliations on all properties.

Real Estate Account Executive Demographics

Gender

Female

47.1%

Male

42.7%

Unknown

10.1%
Ethnicity

White

60.8%

Hispanic or Latino

16.1%

Black or African American

11.7%

Asian

8.2%

Unknown

3.3%
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Foreign Languages Spoken

Spanish

46.2%

Swahili

7.7%

French

7.7%

Urdu

7.7%

Hindi

7.7%

Russian

7.7%

Korean

7.7%

Italian

7.7%
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Real Estate Account Executive Education

Schools

University of Phoenix

16.3%

Northeastern University

7.6%

Texas State University

6.5%

Union University

5.4%

New York University

5.4%

Georgia State University

5.4%

Metropolitan State University

5.4%

Iona College

4.3%

University of South Florida

4.3%

DePaul University

4.3%

Southeast Missouri State University

4.3%

Clemson University

4.3%

University of Maryland - University College

3.3%

Regis University

3.3%

Furman University

3.3%

University of Kentucky

3.3%

California State University - Fullerton

3.3%

California State University - Chico

3.3%

University of Indianapolis

3.3%

University of Wisconsin - Milwaukee

3.3%
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Majors

Accounting

32.2%

Business

26.3%

Finance

7.5%

Communication

5.6%

Marketing

5.4%

Real Estate

4.7%

Management

2.1%

Education

1.9%

Law

1.6%

Advertising

1.6%

Journalism

1.4%

General Sales

1.4%

Political Science

1.2%

Human Resources Management

1.2%

Public Relations

1.2%

Computer Science

0.9%

English

0.9%

Health Care Administration

0.9%

Sociology

0.9%

Taxation

0.9%
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Degrees

Bachelors

53.2%

Masters

18.7%

Other

16.6%

Associate

4.6%

Certificate

2.3%

License

1.7%

Doctorate

1.7%

Diploma

1.2%
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