What does a real estate agent do? As a real estate agent, you’ll be helping to sell or rent out residential dwellings or commercial properties. You can be a seller’s agent, meaning you represent the owner of the property. Or you can work directly with the buyer, helping them search for the perfect place. You will:
- Reach out to potential clients—buyer, seller, or one and the same.
- Write and create property listings on websites.
- Determine appropriate property price through competitive analysis.
- Schedule showings and take clients to various properties in their desired location and price range.
- Draft and present purchase offers.
- Prepare all necessary documents for client purchase or sale.
After you’ve been a real estate agent, you can become a broker. Once that happens, you are qualified to own your own real estate business. Prior to that happening, you’ll work for a broker.
How to Become a Real Estate Agent
In order to be eligible to be a licensed real estate agent, you must take a variety of your state’s approved real estate courses.
- Be over 18 years old.
- Complete your real estate courses.
- Pass a licensing exam. Each state has their own set of requirements.
- All licenses must be renewed every 2-4 years, depending on your state.
- Some companies may have a formal training process, while others just let you hit the ground running.
- If you want to become a broker, you must work for 1-3 years as an agent first.
Salary And Job Outlook
Real estate agents’ median salary for 2017 was $46K. However, it’s not uncommon for pay to reach into the six figures or more. Brokers’ median salaries are a bit higher at $57K. They, too, have a tremendous earning potential.
You can expect to earn your salary through commission on the sales you make. Your schedule may be more than the typical 40 hours work week. And, you may not be on the traditional 9-5 schedule, because you’ll have to accommodate your clients’ schedules.
The job outlook is expected to be average through 2026. There’s always a need for real estate agents and brokers, but their livelihood is dependent on the housing market. When it’s up, then employment is great.