Becoming a real estate agent can be one of the most rewarding jobs you will ever have. But it isn’t easy. You need to understand the local real estate market, build your brand, and practice business negotiation skills before you can begin working as an agent.
If you want to become a successful real estate agent, it is helpful to understand what types of agents there are, what they do, and how to become one. This article covers all that and more so that you are prepared to launch your dream career in real estate license online.
What Is A Real Estate Agent?
Real estate agents are licensed professionals who help clients purchase, sell, or rent properties. They are facilitators who bridge the gap between supply and demand.
Real estate agents negotiate terms of agreements with the help of their clients, manage paperwork and processes, and ensure that deadlines are met.
There are many real estate agents, each with different responsibilities, titles, and earning potential. Licensed real estate agents can work for a brokerage, property management company, independent contractor, or be self-employed.
Licensed Real Estate Agents VS. Unlicensed Assistants
The two most fundamental categories of real estate agents are licensed, agents and unlicensed assistants. Licensed real estate agents are professionals who are adequately trained and supervised by state regulatory bodies to sell real estate, including residential and commercial properties.
They are also responsible for appropriate record keeping and abiding by state laws. Licensed agents are paid on commission, a percentage of the home’s sale price.
Unlicensed assistants do not have the same level of education or experience as licensed agents. Their primary function is to assist licensed agents with paperwork, client interactions, and other administrative tasks.
Assistants are often paid as employees and are generally unable to negotiate sales or collect a percentage of the sales price like licensed agents can.
Types Of Real Estate Agents
Real estate agents can be divided into three basic categories: commercial, residential, and REALTORS®.
Each agent specializes in a specific type of property transaction or client type. Commercial real estate agents specialize in buying, selling, or leasing commercial properties.
Residential agents, as their name implies, specialize in residential properties.
Commercial and residential agents, such as New Home Sales Consultants or Relocation Specialists, may also specialize in a particular portion of the sales process.
REALTORS® works in many fields but specializes in representing buyers and sellers in all types of real estate sales. They are members of the National Association of REALTORS® and abide by the organization’s strict Code of Ethics. REALTORS® must pass a rigorous test before becoming licensed.
Tasks Performed By Real Estate Agents
Real estate agents are responsible for a number of tasks, including:
- Understanding local real estate markets and trends.
- Building their brand and marketing themselves.
- Negotiating a sales contract between two parties.
- Assisting their clients with the entire sales process.
- Managing the client’s expectations and psychological journey through the sales process.
- Complying with state laws and maintaining appropriate records.
- Serving as a liaison between the client and the seller or landlord.
- Providing expert advice to clients throughout the process.
- Providing continued service and support to clients after the transaction is complete.
- Providing an accurate representation of the property to their clients.
How To Become A Real Estate Agent
Becoming a real estate agent is a long, complicated process, but the rewards are well worth the effort. You must take a course, get licensed, and then build your business and reputation.
To become a real estate agent, you must complete a state-approved real estate course and pass a state exam to obtain your real estate license. You can find a list of state education boards on the National Association of REALTORS® website.
You will also need a surety bond and a business plan. It is essential to choose an appropriate course for your needs. Most courses are online, with a few being offered in person. They vary in length and cost, but most can be completed part-time with a full-time job.
It is also essential to choose a state-approved course, which can be verified on the NAR website. Some courses may help you pass the state exam, but they are not a substitute for the real thing.
Real estate agents are the bridge between supply and demand. They help people sell their homes, buy other homes, and lease commercial spaces. There are many types of real estate agents, each with different responsibilities.
Becoming a real estate agent is a long and challenging process. You will need to complete a course, pass a state exam, get a surety bond, and build your business.