Real estate broker and sales agent essential career information:
- 2012 median pay: $39,140
- 2012, number of jobs: 162,560
- Employment growth forecast, 2010-2020: 11 percent
- Entry-level education requirements: High school diploma or equivalent
Real estate brokers and sales agents; what they do:
Real estate brokers and real estate agents aim to help make the process of buying, selling, or renting a home, business, or land far less stressful and confusing. Although real estate agents must work with real estate brokers, brokers need a license to manage their own real estate business.
Real estate brokers and real estate agents find their own clients, provide advice and answer any real estate related questions. A real estate broker career and a real estate agent career include performing research, such as comparing properties to determine competitive market prices, creating lists detailing properties for sale and advertising properties through listings and open houses.
Real estate agents typically meet clients at various properties to provide tours, information, and answer questions. When clients are ready to make an offer, the real estate agent and real estate broker create a purchase offer and work as liaisons between a buyer and a seller. A real estate broker career and a real estate agent career also include preparing other documents, such as loyalty contracts, purchase agreements, and deeds. They are also responsible for following up and ensuring all terms of the contracts are met.
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Real estate brokers and sales agents job titles:
- Commercial Real Estate Broker
- Commercial Real Estate Agent
- Real Estate Agent
- Associate Broker
- Real Estate Agent
- Real Estate Sales Associate
- Real Estate Broker Associate
Real Estate Brokers and Sales Agents Education, Certification and License Requirements
A real estate broker career or real estate agent career typically begins with at least a high school diploma or equivalent. However, a Bachelor of Real Estate degree or an Associate of Real Estate degree or at least college courses in real estate may help an individual stand out in the job market.
Real estate broker and sales agent programs cover subjects such as:
- Real estate fundamentals
- Real estate law
- Mortgage financing
- Business administration
All states require real estate brokers and real estate agents to have a license. Most state licenses must be renewed every two to four years and may require taking continuing education courses. The minimum requirements for a license in all states include passing an exam, completing a specified amount of real estate courses, and being at least 18 years old.
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Career Advancement Opportunities
Real estate agents working in larger firms may have the opportunity to advance to sales manager or general manager. Real estate agents may also open their own office after obtaining a broker’s license.
Real Estate Brokers and Sales Agents Job Outlook
Forecast: 11 percent employment growth from 2010 to 2020 for real estate brokers and real estate sales agents, about on par with the average for all occupations.
An improving economy improves the real estate sector which increases the demand for real estate brokers and real estate sales agents. Employment for real estate brokers and real estate sales agents is usually dependable because people continue needing their assistance to relocate or size up or down in their house.
Real Estate Brokers and Sales Agents Salary
- 2012 median annual wage: $39,140
- 2012, workers at the 75th percentile annual wage: $63,300
- 2012, workers at the 25th percentile annual wage: $27,470
Real Estate Brokers and Sales Agents Employers
- Real estate industry