Real estate agents are a continuous source of fascination, mystery, and confusion. If you’re contemplating a career in real estate, you may be wondering what exactly a real estate agent does. After all, the job title seems rather vague and nonspecific. Are they just intermediaries who connect sellers with prospective buyers? Or are real estate agents so much more than that? Read on to learn all about being a real estate agent and what it takes to become one.
What is a Real Estate Agent?
A real estate agent is someone who helps people buy or sell real estate or find suitable tenants for rental properties. They do this by advertising the property, negotiating contracts, managing the closing process, and much more. Real estate agents earn a commission from the seller when they successfully close a sale. This can range from 2-6% of the total sale price, depending on the state in which you work. Real estate agents can specialize in many different areas. For example, you may choose to specialize in residential Real Estate in Belize or commercial real estate.
You may also choose to specialize in a particular type of property, such as beachfront property or newly built homes. Real estate agents can also specialize in a particular region, such as the Pacific Northwest, New England, the Mid-Atlantic region, or the Southwest. No matter what kind of specialization you choose, your job will include much more than just showing homes to prospective buyers.
How to Become a Real Estate Agent
To become a real estate agent, you will have to become licensed. The requirements vary from state to state, but generally, you must be at least 18 years old and have a high school diploma or GED. Many states also require you to have a certain amount of experience in real estate before applying for licensure. In this way, becoming a real estate agent is very similar to becoming a lawyer.
You must first get a license, and then you can begin to work. There are several ways you can become a real estate agent: Attend a real estate school: Real estate schools have long been the primary method for people to begin pursuing a real estate career. If you decide to go this route, expect to spend at least a year in school. If you choose to become a real estate agent, you can expect to do more than just show homes to prospective buyers.
A Day in the Life of a Real Estate Agent
A lot depends on the type of real estate agent you become. Residential agents can expect to spend most of their days showing homes to prospective buyers. Commercial real estate agents, on the other hand, will spend their days visiting prospective tenants and reviewing their lease agreements. No matter what type of real estate agent you choose to be, you can expect to spend a lot of time on the road.
This is especially true for residential agents, who will spend a great deal of time driving from open house to open house. Real estate agents are always on call, so you can expect to receive calls from clients at all hours, especially if you specialize in a certain type of property. For example, a prospective tenant who sees your commercial listing at 10:00 PM will probably call you at any time throughout the night with questions about the property.
Responsibilities of Being a Real Estate Agent
If you decide to become a real estate agent, you can expect to do a lot more than just show homes to prospective buyers. You will be responsible for many aspects of the sale, including the following: – Listing the property – Marketing the property – Negotiating a price – Handling the paperwork – Closing the sale Once a deal is successfully closed, you will be responsible for managing the property until the new owner takes possession.
If you specialize in a particular type of property, such as commercial real estate, you may be responsible for arranging the lease agreement between the landlord and tenant. It’s important to note that real estate agents are not required to provide any type of contracting services. You may find that some clients expect you to help with repairs or maintenance, but you are not obligated to do so.
Conclusion
If you’re a people person who enjoys problem-solving and has an entrepreneurial spirit, a career as a real estate agent might be a great fit for you. Real estate agents need to be able to connect with people, negotiate, problem-solve, and be creative. You will have to spend long hours on the road, especially if you choose to specialize in residential real estate. However, many real estate agents find the job rewarding. You can expect to earn a decent salary, especially if you specialize in a particular type of property.
