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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:
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.
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:
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.
Average Length of Employment
Top Careers Before Real Estate Agent
Top Careers After Real Estate Agent
Hispanic or Latino11.6%
Black or African American0.6%
Real Estate Agent
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University of Phoenix19.7%
Arizona State University5.1%
University of Houston5.0%
University of Texas at Austin4.5%
Georgia State University4.2%
Florida State University4.1%
University of Central Florida4.0%
New York University3.8%
Texas State University3.8%
University of Utah3.7%
West Virginia University3.6%
Northern Virginia Community College3.6%
University of Arizona3.4%
Real Estate Agent
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|Job Title||Company||Location||Start Date||Salary|
|Real Estate Sales Agent||He Homeward Bound Program for Children, Inc.||New York, NY||Nov 14, 2007||$90,889|
|Real Estate Sales Agent||Troystar Investments Inc. DBA Century 21 All Pro||West Covina, CA||Oct 12, 2007||$83,689|
|Real Estate Sales Agents||New Star Realty & Investment Corp.||Fairfax, VA||Apr 16, 2013||$77,771|
|Real Estate Sales Agents||New Star Realty & Investment Corp.||Fairfax, VA||Jun 26, 2014||$69,514|
|Real Estate Agent||Optimar Realty Group, LLC||Sunny Isles Beach, FL||Mar 30, 2016||$64,800|
|Real Estate Sales Agents||New Star Realty & Investment Corp.||Fairfax, VA||Jan 30, 2012||$61,610|
|Real Estate Sales Agent||Inoue Realty Inc.||New York, NY||Mar 08, 2010||$60,982|
|Real State Agent Supervisor||Wager Associates||Salt Lake City, UT||Dec 18, 2009||$54,267|
|Real Estate Agent||Commerce Consolidated, LLC||Salt Lake City, UT||Jan 03, 2013||$50,000|
|Real Estate Agent||Commerce Consolidated, LLC||Salt Lake City, UT||Sep 26, 2013||$49,754|
|Real Estate Agent||Commerce CRG Utah, LLC||Salt Lake City, UT||Oct 01, 2013||$48,648|
|Real Estate Sales Agents||Saggio Realty, Inc.||Miami, FL||Dec 04, 2012||$48,069|
|Real Estate Marketing and Sales Agent||Signer Realty, LLC||Brookline, MA||Jun 15, 2015||$40,352 -
|International Real Esate Agent||JYP Enterprises Inc.||Newton, MA||Sep 27, 2010||$40,352|
|International Real Esate Agent||JYP Enterprises Inc.||Newton, MA||Oct 01, 2010||$40,352|
|Real Estate Marketing and Sales Agent||Signer Realty, LLC||Brookline, MA||Jun 01, 2015||$40,000 -
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