Suzie loves researching, interviewing experts and breaking down complex information into understandable and actionable advice to help others improve their lives. Based in Denver, Suzie and her husband are parents to a 14-year-old boy, a 12-year-old g.
Suzie Glassman Education WriterSuzie loves researching, interviewing experts and breaking down complex information into understandable and actionable advice to help others improve their lives. Based in Denver, Suzie and her husband are parents to a 14-year-old boy, a 12-year-old g.
Written By Suzie Glassman Education WriterSuzie loves researching, interviewing experts and breaking down complex information into understandable and actionable advice to help others improve their lives. Based in Denver, Suzie and her husband are parents to a 14-year-old boy, a 12-year-old g.
Suzie Glassman Education WriterSuzie loves researching, interviewing experts and breaking down complex information into understandable and actionable advice to help others improve their lives. Based in Denver, Suzie and her husband are parents to a 14-year-old boy, a 12-year-old g.
Education Writer Ilana Hamilton Update Editor, EducationWith five years of experience as a writer and editor in the higher education and career development space, Ilana has a passion for creating accessible, relevant content that demystifies the higher-ed landscape for traditional and nontraditional learn.
Ilana Hamilton Update Editor, EducationWith five years of experience as a writer and editor in the higher education and career development space, Ilana has a passion for creating accessible, relevant content that demystifies the higher-ed landscape for traditional and nontraditional learn.
Ilana Hamilton Update Editor, EducationWith five years of experience as a writer and editor in the higher education and career development space, Ilana has a passion for creating accessible, relevant content that demystifies the higher-ed landscape for traditional and nontraditional learn.
Ilana Hamilton Update Editor, EducationWith five years of experience as a writer and editor in the higher education and career development space, Ilana has a passion for creating accessible, relevant content that demystifies the higher-ed landscape for traditional and nontraditional learn.
Update Editor, Education
Jennifer Thompson, SRES, Certified Real Estate Planner Real Estate Challenges that include: buying, selling, downsizing, moving, divorce-related property consultant, 1031 Exchanges, DSTs, trusts, retirement home transitions, and the probate process.
Jennifer is a Certified Real Estate Planner helping families navigate every real estate challenge: buying, selling, downsizing, divorce-related property consultation, senior relocation, 1031 Exchanges, DSTs, trusts, and the probate process. As a s.
Jennifer Thompson, SRES, Certified Real Estate Planner Real Estate Challenges that include: buying, selling, downsizing, moving, divorce-related property consultant, 1031 Exchanges, DSTs, trusts, retirement home transitions, and the probate process.
Jennifer is a Certified Real Estate Planner helping families navigate every real estate challenge: buying, selling, downsizing, divorce-related property consultation, senior relocation, 1031 Exchanges, DSTs, trusts, and the probate process. As a s.
Jennifer Thompson, SRES, Certified Real Estate Planner Real Estate Challenges that include: buying, selling, downsizing, moving, divorce-related property consultant, 1031 Exchanges, DSTs, trusts, retirement home transitions, and the probate process.
Jennifer is a Certified Real Estate Planner helping families navigate every real estate challenge: buying, selling, downsizing, divorce-related property consultation, senior relocation, 1031 Exchanges, DSTs, trusts, and the probate process. As a s.
Jennifer Thompson, SRES, Certified Real Estate Planner Real Estate Challenges that include: buying, selling, downsizing, moving, divorce-related property consultant, 1031 Exchanges, DSTs, trusts, retirement home transitions, and the probate process.
Jennifer is a Certified Real Estate Planner helping families navigate every real estate challenge: buying, selling, downsizing, divorce-related property consultation, senior relocation, 1031 Exchanges, DSTs, trusts, and the probate process. As a s.
| Real Estate Challenges that include: buying, sel.
Published: Aug 22, 2024, 2:58am
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Thinking about becoming a real estate agent? Whether you’re considering a job change or just getting started, the real estate industry is rife with opportunities for self-motivated individuals searching for a financially rewarding career.
Real estate agents play a vital role in facilitating property transactions—whether helping clients buy their dream homes, sell properties, begin investment portfolios or navigate the complexities of renting. As a result, you’ll have the opportunity to meaningfully impact your clients’ lives.
Here’s what you need to know to become a real estate agent, including the steps involved, the job outlook, specialties you can consider, common certifications and professional organizations you may want to join.
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Real estate agents are licensed professionals who help clients buy, sell or rent properties, including homes, commercial buildings and land. Depending on what state you live in, licensing requirements could differ for real estate agents versus real estate brokers—so be sure to understand what your end goal is for licensing.
Agents are responsible for finding clients, educating them on what to expect from the process, providing recommendations on prices and market conditions, and arranging tours of properties (in person or virtual). They also advertise and promote properties, manage negotiations between the buyer and seller, and ensure compliance with documentation and communication as stated on executed documents. The goal is to make sure all parties get to the closing table prepared and ready to transfer ownership.
Most real estate agents are self-employed and design their schedules around when clients are available, which can mean working nights and weekends. They need to maintain a thorough knowledge of local zoning information, share helpful resources with clients and stay up to date on real estate compliance changes.
Another key aspect of a real estate agent’s career is maintaining relationships with stakeholders, such as mortgage officers, title/escrow professionals, attorneys, home inspectors and other real estate professionals. These partnerships can help you become a valued resource to your clients. Veteran real estate professional Jennifer Thompson recommends that real estate agents emphasize the relational aspect of their work over its transactional side. “It should always be about the clients and their goals—it should not be about the real estate agent’s goals,” says Thompson.
Helping clients buy, sell, invest and rent properties can be highly rewarding personally and financially. Most real estate agents work at least 40 hours per week and often have to accommodate clients during evenings and weekends when they’re available.
According to the U.S. Bureau of Labor and Statistics (BLS), good business skills are essential for real estate agents since many are self-employed. The BLS also notes that these professionals need the ability to work with all types of people, excellent organizational skills to manage their time and a knack for mediating negotiations and solving problems.
If this sounds like a good fit, here are the steps to becoming a real estate agent.
Research your state’s requirements for becoming a real estate agent. While every state requires you to pass an exam to earn your license, other criteria vary—including how many hours of classes you must take, the minimum age to sit for the exam, whether you need a high school diploma and if you have to pass a background check.
The money you’ll need to invest in obtaining your license will also vary according to your state’s application fees, test fees and background check costs.
Because it can take six months to a year to get your business pipeline going, it’s wise to have at least six months’ worth of living expenses saved in an emergency fund when you launch your real estate practice.
Complete your state’s required real estate courses through an accredited real estate school. The number of hours you’ll need depends on where you live. For example, New York requires 77 hours of qualifying real estate classes, while Colorado requires 168 hours.
Many real estate schools and community colleges offer online courses. Remote courses—or even an online degree in real estate—can be convenient if you need flexibility or are busy with work or family obligations. If learning online is challenging or you prefer the structure of a face-to-face environment, look for in-person classes or a school that offers a mixture of online and in-person instruction.
Once you’ve completed your pre-licensing courses, you must pass your state’s licensing exam. These exams are typically divided into two parts: federal real estate laws and general real estate principles and state-specific laws. If you don’t pass your first try, you can retake the exam as often as necessary.
You can get your real estate license through your state’s real estate regulatory organization. While the requirements vary, most states expect you to submit a fingerprint and background check. To activate your license, you’ll need to find a sponsoring brokerage or firm that will activate your license in association with that specific brokerage. You can consider joining a professional real estate organization or becoming a certified REALTOR® by joining the National Association of REALTORS® (NAR).
Only real estate agents who hold NAR membership can use the title of Realtor.Real estate agents must work under the supervision of a licensed real estate broker, often called a qualifying broker, principal broker, or designated broker. Brokers are more experienced agents with additional training and are responsible for ensuring their agents comply with real estate laws and regulations.
Becoming a real estate agent can be a very rewarding and fulfilling opportunity, as you’re helping people with one of their biggest investments. There are many layers to serving your clients at a high level: financial, emotional, physical and mental. Make sure you align yourself with a reputable brokerage, treat everyone with a high level of respect and, above all, follow the Golden Rule. Do unto others as you would have them do unto you! —Jennifer Thompson, SRES, Certified Real Estate Planner
Real estate agents typically don’t earn a salary. Instead, you’ll make your living on real estate compensations, which can be a percentage of the selling price or a flat fee. As of 2023, the median annual wage for real estate sales agents was $54,300, according to the BLS.
The lowest 10% of agents earned a median salary of less than $31,410, while the highest 10% made more than $119,590. The BLS data also indicates that real estate agents working in management roles and in the residential construction sector earned the highest median annual wages.
The job outlook is strong for aspiring agents. The BLS predicts the demand for real estate agents and brokers to grow 3% from 2022 to 2032, about as fast as the average for all occupations.
As a real estate agent, you can specialize in a segment of the industry by taking courses related to that field. Specialization allows you to develop a niche and stand out from other agents in the market. You can specialize according to the type of property, client or location. The following are a few of the most common specialties.
Property specializations distinguish between residential, commercial and agricultural sales. Residential agents focus on buying and selling homes, while commercial agents are experts in properties such as office buildings, retail spaces, industrial units and planned developments.
Agricultural agents know the ins and outs of buying and selling farm and ranch properties. You can also specialize in property management, which involves maintaining and leasing properties on behalf of the owner.
Client-based real estate agents choose to work with specific types of customers. These customers could include first-time home buyers, people who are relocating, senior citizens, veterans or buyers with disabilities who have special needs.
Many agents opt to specialize in a particular area, focus or geography their customers desire. Examples include senior living communities, golf courses, vacation properties and rural locations.
Real estate agents can earn designations and certifications through various real estate associations. Earning a certification demonstrates additional knowledge associated with a sector of the industry. Here are a few of the most popular certifications.
Professional real estate organizations can help accelerate your career by connecting you with industry leaders, offering educational opportunities to boost your market knowledge and providing both resources and advocacy for the profession.
These groups exist at the local, state, national and international levels. Here are a few of the most popular national organizations for real estate agents.
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