How a Real Estate Agent Works

Real estate agents are licensed professionals that work on commission to organize and assist in real estate sales transactions. They may represent buyers or sellers, and they may be a part of a brokerage or on their own. They also have a wide variety of duties, which may vary by state, including assisting with the mortgage process, conducting home inspections and helping with property transfers.

To become a real estate agent, you must first complete pre-licensing coursework, which varies in length from a few weeks to several months, depending on your state’s requirements. After completing the coursework, you’ll need to pass a background check and a real estate licensing exam. Once you’ve passed the exams, you can find a broker to sponsor you and help you get started in the business.

Many new agents will spend their first six months of business meeting with clients, hosting open houses and getting referrals from other agents. Then, they’ll start closing deals and making money. A good real estate agent will typically spend 40 or more hours a week generating leads, preparing paperwork and negotiating sales with their clients. Some brokerages will insist on a full-time commitment from their agents while others will let you go part time, but you’ll still have to pay a monthly desk fee. Also read

If you’re a buyer’s agent, your job is to help clients find homes that meet their needs and negotiate with the seller to get them the best price for their property. Similarly, if you’re a seller’s agent, your duties are to help your client list their property for sale and promote it to potential buyers. You’ll also help them with the mortgage process, make sure buyers are preapproved and conduct a final walkthrough before the closing date to ensure everything is in order.

You may have other career options within the real estate industry, including real estate attorneys, appraisers and mortgage loan officers. These jobs all have a different focus and responsibilities than those of real estate agents, but they all have one thing in common: you’ll be paid on a commission basis. This means that to get paid, you’ll have to sell a property.

To sell properties, you’ll need to build a network of colleagues and mentors that will support you as you begin your journey. These people can help you practice negotiating skills, introduce you to other professionals and provide advice on how to succeed in the real estate industry. You’ll also want to attend networking events in your area and take advantage of technology like the Multiple Listing Service (MLS), which provides a database of homes for sale in your area. This tool can save you time and effort when looking for homes for sale, as it can narrow down the search quickly. For example, you can search by a specific location or by listing type, such as condos, townhomes and single-family homes. In addition, you can also check out the latest market trends and sales data.