How To Become A Realtor
Career Video: Realtor
Real estate agents, or realtors, arrange the transfer of property from one party to another, either on behalf of the owner or purchaser. Realtors may become involved in home purchases and rentals, as well as land, business offices, and buildings.
Brokering a smooth transition of property is not the only objective of someone in the real estate business. Day-to-day tasks that realtors must perform to maintain their business include the following actions: staying current with local marketing information and news about the industry; researching active listings, which include bought, pending, and sold properties; filing and submitting appropriate documents to state agencies; coordinating showings, meetings, and open houses; and creating marketing strategy for their agency and self to include newsletters, social media sites, and fliers.
Why Become A Realtor?
Not everyone will be capable of providing the personable, professional, and attentive services that being a realtor requires. The realtor works with all facets of the buying and selling process—the clients, other realtors, state agencies, home inspectors, contractors, loan officers, and property managers. They coordinate and relay messages, and since buying and selling are time sensitive, they must be available to respond quickly and accurately.
Other important characteristics of realtors include being solution-oriented, a problem solver, intrinsically motivated, honest, tenacious, available, and personable. Realtors must have a keen attention to detail and be able to create a network of people to meet a client’s needs.
Realtor Work Environment
While realtors’ individual success determines their income and clientele, they must work for a real estate broker or agency. Choosing the right broker is essential, as reputations, marketing, and specializations can affect individual realtors’ business. To optimize potential transactions, a realtor must be a part of an effective team that works to promote the name of both individual agents and the agency.
Brokerage offices vary in size (small and local, or large and nationwide) and specialty. About half of all realtors are self-employed. Most realtors work outside of offices, because they travel consistently to see property and attend meetings. Some may find it possible to work from home, as well. Although it is possible to set their own schedules, realtors often work irregular and, sometimes, long hours.
In 2012, the median pay for a broker (one who is licensed to own their own real estate business) in the United States was $41,990 annually, or about $20.19 per hour. Real estate agents (realtors working for a broker) made approximately $18.82 per hour.
Realtor Career Outlook
The real estate field is growing as fast as the average for all other occupations, which is 11 percent. The field has been more active, since the gradual recovery of the most recent recession.
Each state has its own requirements for licensure; however, most standards are universal. Typical requirements include obtaining a high school diploma, completing a set amount of hours in real estate courses, and passing an exam for licensure. A person must also be at least 18 or 19 years old, depending on the state, and be a legal U.S. resident.