WHAT DO REAL ESTATE AGENTS DO?
Real estate agents help people buy property, sell property, or rent property. This could be single family homes, land, condos, or businesses. If it has an address, a real estate agent was involved with the process.
Real estate agents work with property buyers or sellers and help them navigate the complex nature of the property market. Agents talk with clients to find out what kind of property they want and what they are willing to sell or pay, and any specific amenities they are seeking. They work with a real estate broker to find properties that suit their client's needs.
Agents use websites and flyers to describe properties, work with photographers to take pictures of the property, or may take the pictures themseves. Real estate agents often work nights and weekends, showing properties to customers, setting up open houses of properties on the market, advertising themselves and homes for sale. When the sale is pending, real estate agents work with the other party's agent to offer and counteroffer bids on the property.
Real estate agents know the markets they work in, the hot neighborhoods, the ones in flux, and the ones that are expensive or on the rise. They are able to answer client questions and concerns about things like school districts, zoning, expansion and others.
HOW MUCH DO REAL ESTATE AGENTS MAKE?
According to the Bureau of Labor Statistics (BLS), real estate brokers and sales agents made a median hourly income of $20.52, or $42,680 a year in 2010.
WHAT ARE THE EDUCATION REQUIREMENTS?
You'll need at least a high school diploma to get started as a real estate agent. Agents and brokers must also get licenses from the state in which they work. Licenses are achieved through completing a certain number of hours of real estate coursework. These numbers vary by state.
JOB SKILLS AND REQUIREMENTS
- Independence: Real estate agents must manage their own time and schedules, making sure they are hustling to get the word out about properties and find the information their clients need.
- Interpersonal Skills: Agents work with clients and customers face-to-face on a daily basis. Listening to their needs and communicating effectively and pleasantly is a needed skill.
- Persuasion: Skilled real estate agents are good at convincing clients to buy and sell properties at the right price, and use persuasion to close deals.
- Problem-Solving Skills: Real estate agents need to quickly find answers to their client's questions. This also includes being a mediator between sellers and buyers.
THE FUTURE OF REAL ESTATE AGENTS
The housing market is beginning to turn around, and real estate agent jobs will grow moderately between 2010 and 2020, about 11%, according to the BLS.