Spotlights
Broker, Broker Associate, Designated Broker, Managing Broker, Real Estate Associate, Real Estate Broker, Real Estate Sales Associate, Realtor, Real Estate Agent, Real Estate Salesperson, Realtor, Realtor Associate, Sales Agent
Buying and selling a home or commercial real estate is a complicated process. The real market itself is dynamic and constantly changing, with prices based on several variables. In addition, there may be hundreds of considerations related to the actual residential or commercial structures and the land they are built on.
Buyers and sellers often focus on the basics, such as square footage, number of bedrooms, renovations, access to utilities and roads, and potential future valuation. However, they may not always understand more intricate factors, such as zoning, code compliance, deed restrictions, flood zone status, easements, permits, and environmental considerations. That’s why most people use the services of Real Estate Agents or Brokers, trained experts who help clients navigate and negotiate these complex real estate transactions.
Real Estate Agents and Brokers talk to clients to understand their needs, research properties, list property details online, and arrange showings, assessments, and inspections. They advise and represent their clients while working closely with the other party’s agent to negotiate fair terms everyone can agree on. Agents and Brokers must stay up-to-date on market conditions, property values, and numerous legal requirements, while also providing friendly customer service and delivering positive experiences.
In addition, Brokers may also manage their own firms and supervise other sales agents.
- Helping clients achieve their real estate goals
- Building strong client relationships
- Opportunities for high earnings through commissions
- Working independently with flexible schedules
Working Schedule
Real Estate Agents and Brokers work full-time and may have irregular hours including evenings and weekends to accommodate potential homebuyers or investors. They spend time in their office but also travel frequently within the local area to examine and show properties or work with contractors and other agents.
Typical Duties
- Analyze local property market trends. Perform property valuations to determine fair prices.
- Advise sellers on preparing properties to maximize market value.
- Assist clients in buying, selling, or renting properties.
- Discuss their needs and arrange showings.
- Post comprehensive property listings online, with details about features.
- Assist first-time buyers with understanding the buying process.
- Craft marketing campaigns, including social media promotions and mail flyers.
- Organize open houses and tours to attract potential buyers.
- Manage scheduling for showings, meetings, and inspections.
- Negotiate pricing and terms between buyers and sellers. Work with other agents, as needed.
- Prepare contracts, leases, and purchase agreements.
- Facilitate property inspections and appraisals to ensure issues are addressed before closing.
- Coordinate with utility companies to arrange service transfers for new owners.
- Ensure legal compliance by reviewing all transaction documents thoroughly.
- Monitor and update clients on transaction progress and timelines.
In addition, Brokers who own their own firms must manage all aspects of running a business, including accounting, filing taxes, managing personnel, advertising, and building custodian duties (unless otherwise delegated).
Additional Duties
- Provide guidance on mortgage options and financing processes.
- Offer information about neighborhoods, schools, and amenities.
- Evaluate and recommend home improvement projects to boost property value.
- Build strong relationships with lenders, inspectors, and legal professionals.
- Follow up with past clients to generate repeat business and referrals.
- Stay informed about zoning laws, tax regulations, and market conditions.
- Watch the news to stay on top of state and national trends that impact prices.
- Generate reports forecasting revenue or losses.
- Offer strategic advice to investors on portfolio diversification and market timing.
- Maintain organized records of transactions.
- Keep up with professional development courses.
Soft Skills
- Adaptability
- Attention to detail
- Communication
- Customer service
- Decision-making
- Independent
- Integrity
- Negotiation
- Networking
- Objectivity
- Organized
- Patience
- Persuasive
- Problem-solving
- Resilience and composure
- Resourcefulness
- Salesmanship
- Sound judgment
- Time management
Technical Skills
Real Estate Agents and Brokers should have skills in, or be familiar with the following:
- Accounting
- Basic math
- Business management
- Closing process and escrow procedures
- Contract preparation and review
- Customer relationship management (CRM) tools
- Ethical standards and confidentiality
- Financial acumen
- Home inspection basics
- Housing markets
- Human resources management
- Local area knowledge
- Market analysis
- Marketing strategies
- MLS listings
- Negotiation techniques
- Networking and lead generation
- Property tax matters
- Property valuation methods
- Real estate laws and regulations
- Real estate management software, such as Yardi Breeze
- Research skills
- Social media and content creation for promotion
- Staging and presentation skills
- Technology tools for virtual tours and digital marketing
- Real estate agencies
- Property management companies
- Commercial real estate firms
- Self-employed (independent agents)
Real Estate Agents and Brokers must navigate unpredictable markets and compete with other agents in their area. Success relies heavily on building a solid client base and maintaining a reputation for being knowledgeable, reliable, and skilled at closing deals.
Agents often work long and irregular hours, including nights and weekends, to accommodate client schedules. They may invest significant time communicating with potential buyers, networking, and traveling to show properties, often without a guaranteed sale or commission. This requires resilience, persistence, and a commitment to client satisfaction despite the uncertainties of the job.
The real estate market is constantly shifting, shaped by fluid economic conditions, interest rates, supply and demand, and broader economic trends. Demographic shifts are also influencing the market. Many younger generations such as Gen Z are delaying homeownership, leading to a higher demand for rentals.
Sustainability is becoming a key priority for buyers, with eco-friendly and energy-efficient homes increasingly in demand. Features like solar panels, smart home technology, and green certifications appeal to environmentally conscious consumers while also adding value.
Technology also continues to transform the real estate landscape. Virtual and augmented reality make it easier for buyers to explore properties remotely. In addition, digital transactions simplify the buying process, saving time and effort while offering secure, transparent transactions that reduce reliance on intermediaries.
Real Estate Agents are usually “people persons” who were very social at an early age. They may have also been good at persuading others, and they often enjoy hands-on activities.
Real Estate Agent
- Real Estate Agents need at least a high school diploma or GED and must complete several real estate training courses at an accredited local training school or community college.
- The number of required educational hours varies by state. Most states require 60 to 135 hours of state-approved coursework.
- Additional time spent on exam prep depends on individual needs but typically ranges from 20 to 40 hours using study guides, practice exams, and prep courses.
- A college degree isn’t usually required, but many agents go on to complete a degree in business administration or finance.
- After finishing their real estate courses, aspiring agents must pass a state licensing exam and possibly a background check. A pre-licensure exam may be required in some cases.
- Note, if you plan to work in multiple states, research license reciprocity agreements that may simplify obtaining additional licenses.
- Agents are usually employed by real estate firms, working under a licensed broker. Employers often provide in-house On-the-Job training and may have specific requirements. Some workers may even be able to complete an apprenticeship program with an employer.
- Agents must complete continuing education courses to maintain licensure and stay updated on industry changes.
- Learn tools like customer relationship management platforms (e.g., Salesforce or HubSpot), digital signature software (e.g., DocuSign), and MLS systems to increase your technical skills.
- Optional certifications can be obtained to boost one’s knowledge and career opportunities. These include:
- Appraisal Institute – SRPA Designation, AI-GRS Membership Designation, MAI Designation, and SRA Designation
- Association of Energy Engineers – Certified Energy Procurement Professional
- Manufactured Housing Institute – Professional Housing Consultant
- Mortgage Bankers Association of America – Commercial Certified Mortgage Servicer
- National Apartment Association – Certified Apartment Leasing Professional
- National Association of Home Builders – Certified New Home Marketing Professional and Master in Residential Marketing
- National Association of Realtors – Certified International Property Specialist, Accredited Land Consultant, and GREEN Designation
- Women’s Council of REALTORS – Performance Management Network
Real Estate Broker - Additional Licensure and Training
- Before becoming a Real Estate Broker, individuals must first work as a licensed real estate agent for a specified period, which varies by state (typically 1–3 years).
- Like Agents, Brokers may need to undergo a criminal background check, as well as complete advanced coursework on topics like property management, contracts, ethics, legal compliance, and business operations.
- Most states require 60 to 90 hours of broker-specific education.
- Aspiring Brokers must pass a state-administered broker licensing exam, which is more comprehensive than the agent exam, covering topics like property law, brokerage management, and real estate finance.
- They’re often required to complete ongoing education to maintain licensure, too.
- Certifications such as the National Association of Realtors – Real Estate Brokerage Manager can be useful for Brokers.
- Many real estate pre-licensing programs are offered online. If attending in person, look for programs that offer hands-on practical experience.
- Review the program’s options for internships, apprenticeships, or other types of mentorship with experienced Agents and Brokers, if any.
- Ask schools and programs about career assistance such as job fairs, job placement, resume writing, interviewing, and other services.
- Check if the program offers exam preparation help or resources.
- Peek at their admittance and graduation rates, as well as reviews or complaints from current and former students.
- Seek out school- or program-related scholarships or tuition discounts.
- In high school, helpful courses include math, accounting, writing, public speaking, and business.
- Develop skills in marketing and customer service. Gain related experience through part-time sales jobs, construction work, internships, or volunteering.
- Start your draft resume and new skills, achievements, and relevant work experience as you get them.
- Ask an agent if you can do an informational interview with them, and ask if they have any program recommendations. Most will be glad to help!
- Ask questions, take notes, and learn as much as you can about the range of property types.
- Try to decide early on if you want to specialize in commercial or residential real estate, then look for accredited programs near you or online.
- Read articles in REALTOR® Magazine and watch YouTube channels like Kris Krohn’s to learn more about the field.
- Research state licensure and background check requirements as soon as you know you want to enter the industry!
- Understand brokerage commission structures. Research and compare commission splits, fees, and support services offered by different brokerages.
- Consider creating a personal marketing plan with strategies for client outreach, social media presence, and local community
engagement. While you’re at it, set up a basic website showcasing your background, real estate interests, and contact information.
- In most cases, you can apply for a position as a Real Estate Agent while still in training. Many brokerages are open to hiring individuals who are completing their pre-licensing education. However, the state license must be obtained before conducting any buying or selling activities for clients.
- Some companies support new hires during their licensing process by providing mentorship or covering certain costs! Always check with the specific brokerage for their hiring policies regarding new agent trainees.
- Search for job openings through your network, and by signing up for alerts on employment portals like Indeed, Monster, Glassdoor, and Craigslist. Pay close attention to the keywords used in job ads.
- Find sample Real Estate Agent resume templates online. Be sure to include common keywords, such as:
- Buyer Representation
- Client Relations
- Client Retention
- Closing Coordination
- Comparative Market Analysis
- Contract Negotiation
- Escrow Processes
- Home Staging
- Lead Generation
- Listing Management
- Local Market Knowledge
- Market Analysis
- MLS (Multiple Listing Service)
- Pricing Strategies
- Regulatory Compliance
- Residential Real Estate
- Customize your resume for each job you apply to. If a cover letter is required, be sure to research the company so you can better tailor your letter to match their mission and values.
- Dress right for your interview and make a great first impression. Make sure you know your real estate industry terminology!
- Read sample real estate interview questions so you can prepare responses ahead of time. Sample questions include things like “Why should you be hired as our newest agent/broker?,” “How do you create a client base?,” and “What are the most important resources buyers should be using?”
- Keep your LinkedIn profile up-to-date and publish a few posts about the real estate industry, in case any recruiters are looking for candidates.
- Become a member of your local real estate board or association. Many of these organizations offer networking events and job boards exclusively for members.
- If needed to get your foot in the door, apply for brokerage administrative positions to get experience and build your industry knowledge.
- Perhaps the most tried-and-true method for moving up in the real estate business is to hustle and consistently make good deals for clients, thus bringing in solid earnings for your employer.
- You can also ask your employer about opportunities to advance.
Most should be glad to see that you’re ambitious and they will steer you in the right direction regarding which advanced training and other professional development to pursue. - Be professional, ethical, and diligent in all your dealings.
Cultivate strong relations with clients, peers, contractors, and property managers. - Treat contractors with respect and hold them accountable to meet high-quality work standards.
- Work efficiently and with a sense of timeliness, before others snatch up properties you might want to represent.
- Participate in professional organizations such as the National Association of Realtors, write articles, and make a name for yourself in the sector as someone who is competent and knows how to earn.
Opening Your Own Brokerage
If you’re an Agent and want to really expand your opportunities, consider becoming a Broker with your own brokerage.
- Obtain your broker’s license, develop a business plan, and choose a suitable legal structure, such as an LLC.
- Secure financing, obtain any necessary licenses or permits, and register your business.
- Purchase errors and omissions insurance, set up your brokerage office, and purchase office essentials like desks, chairs, computers, printers, software, supplies, etc.
- Hire real estate agents and administrative staff.
- Establish branding and marketing, join industry associations like the NAR, and implement compliance policies based on state and federal regulations.
Websites
- Appraisal Institute
- Building Owners and Managers Association (BOMA)
- CCIM Institute
- Community Association Managers International Certification Board
- Community Associations Institute
- CoStar Group
- CREW Network (Commercial Real Estate Women Network)
- Inman News
- Institute of Real Estate Management
- LoopNet
- Multiple Listing Service (MLS)
- NAIOP – Commercial Real Estate Development Association
- National Association of Realtors
- National Association of Residential Property Managers
- National Real Estate Investor
- PropTech Association
- Real Estate Business Institute
- Real Estate Buyers Agent Council
- Real Estate Educators Association
- REALTOR® Magazine
- Real Trends
- Realty Times
- Redfin Real Estate News
- Residential Real Estate Council
- RISMedia
- The Real Deal
- Urban Land Institute
- Women’s Council of Realtors
- YPN (Young Professionals Network) by NAR
- Zillow Premier Agent Resources
Books
- The Book of YES, by Kevin Ward
- The Millionaire Real Estate Agent, by Gary Keller
- Your First Year in Real Estate, by Dirk Zeller
Real Estate Agents play a crucial role in helping clients navigate the property market, making it a fulfilling and dynamic career choice. For those considering alternatives to real estate, related careers include:
- Appraiser/Assessor
- Community Association Manager
- Construction Manager
- Facilities Manager
- Financial Advisor
- Insurance Sales Agent
- Leasing Consultant
- Loan Officer
- Lodging Manager
- Officer Manager
- Property Manager
- Real Estate Developer
- Retail Clerk
- Sales Representative
- Stock Broker
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