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Buying or selling a house or an apartment is one of the biggest decisions of a person's life. And when selling or establishing a price for real estate, people seek out real estate agents to do the dirty work. A real estate agent has to convince a prospective homeowner that he or she is trustworthy and knowledgeable. In many ways, the agent acts as a counselor to individuals and families about to embark on a huge commitment. Real estate agents have a thorough knowledge or real estate market in their community. They know which neighborhoods will best fit their client's needs and budgets.
Real estate agents are generally independent sales employees who provide their services to licensed brokers on a contract basis. In return, the broker pays the agent a portion of the commission earned from property sold through the firm, by the agents. They are familiar with local zoning and tax laws, and know where to obtain financing. A good real estate agent is informed about things like schools, tax rates, public transportation systems, and should be aware of going mortgage rates.
To be eligible to become a real estate agent, he or she must first be a high school graduate, be at least 18 years of age, and pass a written test. In every state real estate agents must obtain a state license to sell and rent properties. Over 1, 000 universities, colleges, and junior colleges offer courses in real estate. Many local real estate associations sponsor courses covering the fundamentals and legal aspects of the field. As for sales skills, large brokerage firms offer formal training programs for both beginners and experienced agents.
Advancement opportunities for agents often take the form of higher commission rates and more and larger sales, both of which increase earnings. This occurs as agents gain expertise and contacts, and become more efficient in closing a greater number of transactions. Experienced agents can also advance in many large firms to managerial positions. And people who have received their broker's licenses can open their own offices. Others with experience and training in estimating property value may become real estate appraisers, and people familiar with operating and maintaining rental properties may become property managers.
Also, a gents, brokers, and appraisers who gain general experience in real estate and a thorough knowledge of business conditions and property values in their localities, may enter mortgage financing or real estate investment counseling. Employment of real estate agents is expected to grow more slowly, however, a large number of job openings will arise due to replacement needs. Agents who usually worked full time had median annual earnings of $ 31, 500. The middle fifty percent earned between $ 20, 500 and $ 49, 700.
The top ten percent earned more than $ 75, 400 and the lowest earned less than $ 12, 600. People who are interested in becoming a real estate agent often apply in their own communities, where their knowledge of local neighborhoods is an advantage. Although it is a demanding profession, real estate offers the freedom that no other career could offer in terms of work hours. The pay and the hours depend on the agent.
In order to last as an agent one must be willing to accept rejection and understand that it is not a personal reflection. Finding a job in the field once you pass the real estate sales exam, however is hardly difficult. One contact notes. "You don't have to worry about finding a company - they find you. "
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Research essay sample on Real Estate Agents Percent Earned
