In this article, we will take you through a comprehensive overview of the steps to become a real estate agent, the responsibilities it comes with, career outlook and demonstrate an entry level real estate agent resume.
To become a real estate agent at an entry level position, will require an investment of your time and money which will include enrolling in real estate classes, licensing education and fees, passing real estate exams and so on. You will have to put in the initial effort whether you intend to pursue this full time or part time. The road to becoming a real estate agent might seem daunting but with a methodical and systematic approach you will surprise yourself with what all you can accomplish.
Research Your Location's Requirements
Real estate licensing requirements vary from state to state and are different in every country. Your first step is to research your state's specific requirements for age, education, exam eligibility and licensing procedures. You can find this information in your state's real estate regulatory commision website.
Enroll in Pre Licensing Courses
Complete your pre-licensing education by enrolling in a state approved program.These programs are necessary for you as they give you an introduction to your day to day responsibilities by covering topics like real estate principles, practices, contracts and laws.
Pass the Real Estate Exam
After you have completed the pre-licensing course, you are required to pass the state licensing exam. The real estate exam broadly consists of general real estate topics and will also include state-specific topics about local real estate laws and regulations. You have to score above the minimum passing score set by your state's real estate commission.
Get Your Real Estate License
Once you have passed the exam, you need to submit an application and pay the required license fees as per your state's real estate commission. Once your application is approved, you will receive your real estate license issued by the state's authority making you an eligible real estate agent.
Join a Real Estate Brokerage
After receiving your license, it is a good idea to gain some experience working for an established brokerage before you decide to work independently. In a real estate brokerage you will be working under a senior level broker who will ensure you follow the legal and ethical standards while making real estate transactions. You will get paid a percentage of the commission they collect from your real estate transactions.
Consider A Specialisation
As an entry level real estate agent you can choose to specialise in residential real estate or commercial real estate or industrial real estate. As you gain experience you will have enough knowledge to see which type of real estate work is the most suitable for you.
Role and Responsibilities of an Entry Level Real Estate Agent
An entry level position in any line of work, is a position that comes with a lot of responsibilities and workload. Here are some of the key responsibilities of an entry level real estate agent.
Researching and Marketing Prospective Properties
In this entry level position, you will be required to research available properties and gather additional data on the location, price and, amenities. Promoting these properties to get potential buyers is a crucial aspect of this role. This can be done by organising open houses or spreading the word via online marketing in social media platforms.
Organising Property Viewings
Organising property viewings is one of the main responsibilities of a real estate agent. You will be expected to conduct scheduled tours with buyers and sellers to best highlight the property's attractive features.
Client Relationship Management
A real estate agent's primary role is to build and maintain relationships with their clients. A real estate agent is expected to be intuitive to a client's needs and preferences and should offer expert guidance and support throughout the transaction process.
Contracts and Paperwork
A real estate transaction involves a substantial amount of paperwork. Real estate agents are required to help clients through this tedious process in person, prepare offers and counteroffers, negotiations and ensure that their legal requirements and compliance are watertight.
Building a Network
As a real estate agent you need to be networking within the industry and connect with other professionals like lenders, builders, appraisers to facilitate smooth transactions.
Career Outlook for a Real Estate Agent
According to the Bureau of Labour Statistics, the overall employment of real estate agents and brokers is projected to grow at 3% from 2022 to 2032. As of May 2022, the annual median wage for real estate agents was at $49,980 and for brokers was at $62,190.
If you would like to begin your career as a real estate agent, then browse through our amazing resume samples, templates and examples and get a kickstart on your job application for your dream job!
Frequently Asked Questions (FAQs)
Do you need a specific college degree to become a real estate agent?
No, there is no minimum educational requirement to be a real estate agent.
Can you work without a real estate license?
No, you are not allowed to work and conduct real estate transactions without a proper state issued real estate license
Is marketing an important part of a real estate agent's job?
Yes, marketing is crucial to get the word out about a new property on the market to do justice to both the buyers and sellers. Online marketing and word of mouth are equally important to spread the word.
