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Real estate agent hiring summary. Here are some key points about hiring real estate agents in the United States:
Here's a step-by-step real estate agent hiring guide:
A real estate agent helps owners in the selling or renting of houses, land, offices, buildings, or any piece of property. They should be knowledgeable in the area they work in, which local properties are in the market, and the competitive prices for various properties. It is their responsibility to either market or sells in the best possible and reasonable price and conditions. Negotiating is a vital skill for real estate agents as they act as the middleman for buyers and sellers. Most agents bill the client with a percentage of the final sale price as the fee, but some would get a fixed commission for every sale.
The real estate agent hiring process starts by determining what type of worker you actually need. Certain roles might require a full-time employee, whereas part-time workers or contractors can do others.
A real estate agent's background is also an important factor in determining whether they'll be a good fit for the position. For example, real estate agents from different industries or fields will have radically different experiences and will bring different viewpoints to the role. You also need to consider the candidate's previous level of experience to make sure they'll be comfortable with the job's level of seniority.
This list shows salaries for various types of real estate agents.
| Type of Real Estate Agent | Description | Hourly rate |
|---|---|---|
| Real Estate Agent | 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... Show more | $31-60 |
| Licensed Realtor | A real estate agent is responsible for helping a client sell, rent, or buy a property such as land, houses, and buildings according to what they want. They are the ones who give accurate guidance and advice to clients on how they can sell or promote their property in the market... Show more | $12-25 |
| Sales And Leasing Consultant | Sales and leasing consultants are specialists in rental properties who interact with potential clients. They present houses, apartments, and other assets to clients persuasively... Show more | $17-38 |
Including a salary range in the real estate agent job description is a good way to get more applicants. A real estate agent salary can be affected by several factors, such as the location of the job, the level of experience, education, certifications, and the employer's prestige.
For example, the average salary for a real estate agent in Minnesota may be lower than in West Virginia, and an entry-level engineer typically earns less than a senior-level real estate agent. Additionally, a real estate agent with lots of experience in the field may command a higher salary as a result.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $111,838 | $54 |
| 2 | Massachusetts | $111,260 | $53 |
| 3 | Washington | $106,342 | $51 |
| 4 | California | $104,499 | $50 |
| 5 | Connecticut | $102,606 | $49 |
| 6 | Maine | $96,310 | $46 |
| 7 | Utah | $95,218 | $46 |
| 8 | Pennsylvania | $95,079 | $46 |
| 9 | New Hampshire | $94,550 | $45 |
| 10 | Georgia | $94,259 | $45 |
| 11 | Colorado | $94,133 | $45 |
| 12 | Alabama | $94,031 | $45 |
| 13 | Missouri | $93,919 | $45 |
| 14 | Oklahoma | $87,150 | $42 |
| 15 | Indiana | $85,083 | $41 |
| 16 | Ohio | $84,646 | $41 |
| 17 | Oregon | $84,600 | $41 |
| 18 | Tennessee | $84,361 | $41 |
| 19 | Texas | $83,172 | $40 |
| 20 | Arizona | $80,334 | $39 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Santa Clara Valley Water District | $110,515 | $53.13 | |
| 2 | Ethan Conrad Properties | $105,419 | $50.68 | 1 |
| 3 | BCP | $101,136 | $48.62 | |
| 4 | The Redwoods Group | $100,041 | $48.10 | |
| 5 | Valley Transportation | $99,186 | $47.69 | |
| 6 | Ameren | $98,247 | $47.23 | 1 |
| 7 | United Real Estate | $97,593 | $46.92 | 2 |
| 8 | Your Castle Real Estate | $97,505 | $46.88 | |
| 9 | Keller Williams Southern Arizona | $97,388 | $46.82 | |
| 10 | Weidel Realtors | $97,332 | $46.79 | |
| 11 | Keller Williams Classic Realty Nw | $97,247 | $46.75 | |
| 12 | Keller Williams Capital Properties | $97,203 | $46.73 | 9 |
| 13 | Cressy & Everett Real Estate | $97,196 | $46.73 | 31 |
| 14 | Lyon Real Estate | $97,088 | $46.68 | |
| 15 | ASA Holdings | $97,055 | $46.66 | |
| 16 | Engel & Völkers Austin | $96,984 | $46.63 | 11 |
| 17 | Randall Realtors | $96,938 | $46.60 | |
| 18 | Symbio | $96,916 | $46.59 | |
| 19 | Re/max Results | $96,901 | $46.59 | 11 |
| 20 | Berkshire Hathaway | $96,888 | $46.58 | 1 |
A job description for a real estate agent role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a real estate agent job description:
To find the right real estate agent for your business, consider trying out a few different recruiting strategies:
During your first interview to recruit real estate agents, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.
Remember to include a few questions that allow candidates to expand on their strengths in their own words. Asking about their unique skills might reveal things you'd miss otherwise. At this point, good candidates can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've found the real estate agent candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.
You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.
Once that's done, you can draft an onboarding schedule for the new real estate agent. Human Resources should complete Employee Action Forms and ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc. They should also ensure that new employee files are created for internal recordkeeping.
Recruiting real estate agents involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
The median annual salary for real estate agents is $91,788 in the US. However, the cost of real estate agent hiring can vary a lot depending on location. Additionally, hiring a real estate agent for contract work or on a per-project basis typically costs between $31 and $60 an hour.