How To Become A Real Estate Agent
|
If you're wondering how to become a real estate agent, the basic process is fairly simple, although it does vary a lot from state to state.. You will need to take classes, pass exams, earn a real estate license, find a broker to work for, then find sellers or buyers as clients.
To successfully practice as a real estate agent in this competitive business can be challenging. You'll have to stay current on legal changes, understand the real estate contracts and be technologically aware. If you are determined, the payout can be huge.
Here are the basics of what you need to know about becoming a real estate agent.
1) Real Estate Agent Licensing RequirementsThe Licensing requirements are different for each state. In general, you will have to:
-Meet an age requirement
-Pass a background check
-Complete approved real estate courses from a state-approved school
-Pass a state exam
-Complete an application form
-Submit various fees
Agents just earning their license work for a real estate broker. Most new agents sign up with one of the big company brokerages. If you decide at some point to work for yourself, you will need to earn a broker license. Note that the most successful agents, even those working for a broker, treat the real estate profession as their own business, not just a job. This is one of the secrets to success in this field.
2) A Day in the Life of a Real Estate Agent A real estate agent's primary job function is to help clients in the (complex) process of buying and selling real estate.
The list of duties includes but is not limited to:
-Interview buyers to determine what kinds of properties they are looking for.
-Submit buyers' purchase offers to sellers.
-Work with lenders, escrow officers, home inspectors, and pest control operators to make sure that transactions close on time.
-Prepare documents such as listing and purchase agreements.
-Be the intermediary in negotiations between buyers and sellers.
-Determine a property's market value by comparing the property with similar properties that have recently sold.
-Schedule appointments to show homes to potential buyers.
-Find properties that are consistent with buyers' needs and available finances.
-There is so much variety that a real estate agent is usually never bored.
3) What is a REALTOR®?Many people are confused about the difference between a real estate agent and a REALTOR®.
A real estate agent becomes a REALTOR® when he or she pays an annual fee to the National Association of REALTORS® and subscribes to its Code of Ethics. The agent generally joins through the local board or association, at the city level. Membership in the REALTORS® is optional, but highly recommended.
4) How much can you earn?Real estate agents are generally paid on commission. This commission is a percentage of the sales price. The seller will generally pay 4-6% of the sales price as the fee for having a professional sell their property. That will often be split equally between the seller's broker and broker who brings the buyer to the table.
As an example, if the fee for a $300,000 property is 6%, the buyer's broker will be paid 3% or $9000 and the seller's broker will also be paid 3% or $9000. The agent is paid directly by the employing broker, using their agreed-upon commission split. This is often 50-50 for beginning agents, so in that case the agent in our example would receive $4500.
Visit Real Estate Career Info for requirements for obtaining a real estate license in your state.
This article may be reprinted if proper credit is given and all links left intact.
Copyright©2005 Real-Estate-Career-Info.com
Andre McFayden, Ph.D. is a Real Estate Broker and contributor to real-estate-career-info.com
|
|
|
Working In Dubai
Dubai in the United Arab Emirates is one of the world's fastest growing employment hotspots in the world. Up to 20 new companies establish themselves in the emirate's free trade zones every week and since 2002 some 650 companies have registered in the Dubai Media City free trade zone alone.Particularly in the fields of tourism, IT, media and finance there are significant job opportun...(related: Employment)
You?re Ready For A Career Change - Is Your Resume?
You finally did it. You made the decision to leave a career that makes you dread every Monday morning and pursue one that you feel is your true calling. Congratulations! Making the decision was the hard part, right? Unfortunately, no. You've convinced yourself t...(related: Employment)
The Five Most Common - And Most Avoidable - Résumé Errors
Writing an effective résumé can certainly be challenging. There are numerous rules and none of them apply 100% of the time. It is often much easier for people to craft their document if they understand the boundaries within which they will need to operate 100% of the time - the mistakes that should never be made and will brand a job-seeker as unprofessional. Eliminating all of these errors from your résumé will go a long way in improving your chances of securing an interview.1. "Responsible for..."The Problem:This is one of the most common, and most amateurish, résumé errors. There is no greater example of weak, passive writing than the overused "responsible for."There are two base reasons...(related: Employment)
The Interview - A Few Tips For Making A Great First Impression
Searching for employment is one of the most nerve-racking activities to engage in. As if the direct need for income is not stressful enough, the process of writing a résumé, networking in your industry, and applying for jobs can leave anyone shaking in their tracks. Once you have hit the pavement and made a few contacts the phone calls should start coming in. With a little effort, hopefully a phone call could lead to an interview; which happens to be one of the most horrifying portions of career building. With the completion of a good interview, a job offer is just a step away. Here are few tips of turning any int...(related: Employment)
Writing Resumes That Attract Your Perfect Job
Let me introduce you to Ben. He made it happenBen was a comptroller. He liked what he did and wanted to find a similar job after his position was eliminated during a re-organization. He brought to our initial meeting a resume that outlined his employment history and education. There was no profess...(related: Employment)
Pre-interview Web Research
You have obtained an interview -- congratulations! You feel prepared to discuss your strengths, your accomplishments, your willingness to work hard and learn quickly, and your ability to fit seamlessly into the employer's needs. But... you don't know anything about the employer. You may not even be sure what kind of industry they are in. Do some quick homework before your interview and you may glean a basic understanding of their business that can set you apart from other candidates.In the "old days" you would have needed to visit a library to try to find the employer in a Business Directory or Manufacturers...(related: Employment)
Cv Writing ? How To Write A Cv
A winning CV has 2 objectives: To illustrate your strengths and maximise your chances of getting through to interview and to put factual information, such as dates, places, names together in a presentable and readable form. Focal PointIt is claimed that the human eyes are naturally drawn to a focal point one third down from the top of the pag...(related: Employment)
Where Did All The Farmers Go?
Several times a year, I hear someone complain about the development of farm land in our area. These complainers consider it a crime that so much of our farm land has been converted to housing, business, shopping, etc. They seem to consider the farmers and developers to be criminals.If you want to know why so many farmers have sold out to developers, allowed the land to grow houses instead of crops and left the farm life that their families enjoyed for generations ? read on. Do you know why more a...(related: Employment)
Multiple Skills For The 21st Century
(excerpted from The Weekend Seminar - Skills for the 21st Century 1999 Version)I find it's important to not walk into the 21st Century without multiple skills. But what I also find is that if you are already in sales, network marketing or have an entrepreneurial business (or plan to in the future), you can gain the needed skills for the future while you create your income now.Here's my short list for on-the-job training, so that you can learn while you earn.1) SalesI began my journey with sales, which of course dynamically changed my life back at age 25. The first year I multiplied m...(related: Employment)
College Labor Is Available In Ohio
Ohio has always been big on education and that means a bright, energetic and reliable workforce for expanding businesses. A business which wants to expand i...(related: Employment)
Careers In The Advertising Business Internet Marketing Style
So you are interested in seeking a job with an advertising business or Internet marketing firm? The first step would be to gain enough knowledge in marketing theory and practical applications. A four-year college degree is helpful but those without a college degree can still land a job with a top firm if they have enough real-world experience. You must have a genuine love for advertising to be successful. Often the initial salaries are small and job turnover is high. But with a strong determination, you can succeed in the advertising and Internet marketing field.When entering the Internet marketing arena, try to become as familiar with successful clients as possible. Learning how successful firms have succeeded in business will give you an idea on how to be successful yourself. ...(related: Employment)
Telecommuting Resumes
Your resume needs to outline your skills and experience, as most know. What some may not know is that employers want to know what you'll bring to the table. They don't want to know what your daily duties were. They want to know what you did for the companies you worked for that makes you extraordinary. Did you save them money, did you make them money, how were you the best at what you did, etc. Yes, employers want to know what your experience is, so duties are good to add. Again, the name of the game is SELL YOURSELF! This does not lose its importance in a resume.On your resume, point out the skills that will make you a good telecommuter. Can you work well with no supervision? Do you learn fast? Put that on your resume. If you were left to work with little to no supervision at your last job, let them know that. Al...(related: Employment)
How To Write A Resume, Avoid These Resume Mistakes
HOW TO WRITE A RESUME-MISTAKE #1NEVER USE THE WRONG PAPER!What kind of paper should you choose when typing your resume? The color of paper you will want to use will be white or ivory. You will also want to type your resume on a heavier paper, such as a 20 lb. bond.HOW TO WRITE A RESUME-MISTAKE #2DO NOT APPLY TO THE...(related: Employment)
site-map - Copyright © 2007 | Contact Webmaster | All Rights Reserved | Free Articles and Information | Employment