What do Real Estate Sales Agents Do?
If you enjoy interacting with others and selling products or services, you may be the perfect fit for the real estate sales field. Real estate sales agents make a living by helping clients to buy, sell, or rent properties for residential or commercial use. Agents utilize a wide variety of resources to help clients locate prospective properties, and then proceed to act as intermediaries between buyers and sellers. After each transaction, agents are paid a portion of the proceeds, so the more expensive a property is, the more an agent earns. Agents may also interview potential buyers to ensure that they meet certain financial requirements before a showing is scheduled.
Real Estate Sales Agents Skills and Abilities
A broad knowledge of proper selling and marketing techniques are needed to succeed in this field, and most of your job will consist of convincing clients to buy or sell. Customer service skills are also required since you will be interacting with a wide range of individuals and families. Agents should also possess a firm understanding of housing and tax laws. You will also be expected to know the inner workings of the local real estate market, and what comparable properties sell for. Active listening skills are highly beneficial and will aid you in understanding your client’s personal needs.
Real Estate Sales Agents Duties
The main function of a real estate sales agent is to act as an intermediary between buyers and sellers. This includes presenting potential offers to sellers, and helping the seller to decide whether or not it is acceptable. Agents utilize clients’ personal criteria to locate prospective residential or commercial properties. Many agents also use their knowledge of real estate finance to help buyers secure loans. Real estate sales agents may also:
- Advise clients on market conditions, mortgage rates, and home prices
- Prepare documents for final transaction
- Advise sellers on how to increase the appeal of a home
- Appraise properties
- Rent or lease properties on clients’ behalf
- Identify real estate investment opportunities
Real Estate Sales Agents Tools and Technology
The primary technological device employed by real estate agents is the computer. The internet is used to browse real estate listings and identify potential opportunities. It is also used to research neighborhoods, and learn about the history of a property. Basic communication devices such as phones and faxes are used to stay in contact with clients, colleagues, and financial institutions.
Education and Training for Real Estate Sales Agents
Although no formal education is required, real estate sales agents are required to pass examinations in order to become licensed. Real estate schools offer courses that help students prepare for these examinations, and many students consider them an integral part of the educational process. Approximately 37% of students held a bachelor’s degree, and around 28% attended college, but did not earn a degree. Virtually every state in the country requires agents to be properly licensed before facilitating transactions.
Real Estate Sales Agents Salary
The median annual salary for a real estate sales agent is $41,000, with 10% of agents grossing over $105,000 a year. There was a 1.4% increase in wages for agents over the previous year.Agents working in the natural gas pipeline industry earned the highest salaries, while those employed by the lessors of real estate industry earned the lowest. As with any sales job, the more property you sell, the higher your salary will be, so this is an excellent opportunity for a motivated individual to earn a lot of money.
Real Estate Sales Agents Jobs by Geography
There are currently 157,660 Americans employed as real estate sales agents, and there was a 1.7% rise in employment over the last year. Florida, Texas, and California employed the highest levels of brokers in the country. New York, Wyoming, and Illinois paid the highest wages. Real estate sales and brokerage offices employed the most workers in the industry.