Real Estate Sales Agent
A Real Estate Sales Agent is a professional who assists clients in buying, selling, and leasing residential and commercial properties. They possess a solid understanding of real estate market trends, property values, financing options, and local laws, which enables them to guide clients throughout the transaction process. Typically working on a contract basis for a licensed real estate broker, agents earn a commission based on the properties' final sale prices.
The work environment for real estate sales agents is dynamic, requiring them to travel between properties, meet clients, and operate from a home or office setting. Their schedule can be irregular, often involving evenings and weekends to accommodate client availability. Success in this competitive field demands strong interpersonal skills, assertiveness, and a deep interest in real estate, as agents spend significant time researching properties and market conditions.
While formal education beyond a high school diploma isn't mandatory, many agents pursue coursework or degrees related to real estate, business, or law. All agents must pass a state licensing exam to practice. Real estate sales agents may choose to specialize in residential or commercial properties, each requiring specific knowledge relevant to their respective markets.
Real Estate Sales Agent
Snapshot
Career Cluster(s): Business, Management & Administration, Marketing, Sales & Service
Interests: Sales, real estate, residential and commercial development, marketing, zoning laws, financing
Earnings (Yearly Median): $56,620 per year $27.22 per hour (2023)
Employment & Outlook: 2% (slower than average)
Entry-Level Education: High school diploma or equivalent; state licensing exam
Related Work Experience: Experience working as an agent for at least two years
On-the-job-Training: Some on-the-job formal training but varies
Overview
Sphere of Work. Real estate sales agents assist clients in the purchasing, selling, and leasing of residential and commercial properties. They possess a comprehensive understanding of the real estate market and related trends, property values, financing options, and local tax and zoning laws for the areas in which they work. Real estate sales agents generally work on a contract basis for a real estate broker who is licensed to run their own real estate business. Whether their clients buy or sell property, brokers award real estate sales agents a commission, which is a fixed percentage of a property’s final sale price, once a transaction is complete.
Work Environment. Real estate sales agents primarily show properties to clients, travel between property locations, and meet with potential buyers and sellers. They also spend time working in a real estate or home office, using the internet and smartphones to research, communicate, and negotiate. Real estate sales agents rarely work a standard forty-hour week. As they must accommodate the schedules of clients, they may meet with clients in the evenings and on weekends. They tend to be busier during warmer months.
Occupation Interest. Individuals who are interested in becoming real estate sales agents should enjoy working closely with others. Because the field is highly competitive and prospective clients have a choice among real estate agents, candidates should be assertive but polite and maintain a positive attitude. Prospective agents must have a strong interest in real estate as they will spend long hours researching and analyzing the real estate market, as well as gaining a solid understanding of the details of each property they show.
A Day in the Life—Duties and Responsibilities. Real estate sales agents divide their time between property research and meetings with potential buyers and sellers. They continually check current property listings to determine what properties are for sale and how to price new listings appropriately based on the current market value of similar properties. Real estate sales agents also meet with and interview prospective clients to establish a desired price range, solicit listings, show properties, and discuss buying or selling terms and conditions. They often meet with buyers several times to discuss location preferences and to show properties that have become newly available. They are also responsible for developing marketing strategies, such as weekend open houses and advertisements, on behalf of sellers.
Real estate sales agents act as the liaison between buyers and sellers. Agents verify property ownership through title searches, negotiate prices and terms on behalf of their clients, and ensure that all contract terms are finalized before the closing of a property. They also make sure that legally required inspections for termites, radon, lead paint, and other potential hazards occur before closing. In many cases, they help buyers research and apply for available mortgage and finance loans.
Most real estate sales agents specialize in residential properties; however, some agents specialize in the sale of commercial, industrial, agricultural, and other nonresidential properties. These agents normally work for larger commercial real estate firms and must have specific knowledge of commercial leasing practices, pricing, and business locations.
Work Environment
Immediate Physical Environment. Real estate sales agents spend some of their time working in clean, comfortable real estate offices or working from home. The rest of their time is spent in and around property locations. In some cases, agents may have to travel and show outdoor properties in inclement weather.
Human Environment. Though many real estate sales agents operate independently, they work closely with real estate brokers and clients looking to buy or sell property. Often, they communicate with lawyers, appraisers, lenders, inspectors, builders, and other real estate agents.
Technological Environment. Real estate sales agents handle numerous documents and files daily to gather information about properties. They frequently review property listings and advertisements, appraisal files, public records, foreclosure notices, and publications and newsletters. These materials may be print materials or information accessed through electronic databases. Real estate sales agents use basic office equipment, such as scanners, photocopiers, computers, and smartphones. Real estate agents may use social media or popular real estate listing websites to present properties they are representing and research properties for clients.
Education, Training, and Advancement
High School/Secondary. High school students looking to become real estate sales agents should take courses in business, public speaking, mathematics, geography, and social studies. Students are also encouraged to participate in extracurricular activities that allow them to engage with other students. Because selling property involves a high degree of persuasion, students should join clubs such as the debate team that will strengthen their oratorical skills. Interested students can start to become familiar with different kinds of properties by visiting local houses listed for sale and studying related details.
Postsecondary. Though real estate sales agents are not required to have an undergraduate degree in order to sell real estate, many find it helpful to take courses in real estate at the postsecondary level. Universities and community colleges commonly offer certificate programs in real estate, and vocational institutions offer associate and bachelor’s degrees in the field. These programs cover topics such as salesmanship, appraisal, residential design, principles of real estate, and legal and tax aspects of real estate. Those agents who earn an undergraduate degree find it beneficial to study business administration, economics, and law. All real estate agents must pass a licensing exam specific to the state in which they operate.
Related Occupations
− Manufacturers Representative
− Pharmaceutical Sales Representative
− Property and Real Estate Manager
− Services Sales Representative
− Technical Sales Representative
− Wholesale Sales Representative
Bibliography
"Real Estate Brokers and Sales Agents." Occupational Outlook Handbook. Bureau of Labor Statistics, US Department of Labor, 29 Aug. 2024, www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm. Accessed 7 Nov. 2024.