Real Estate Agents

Career summary

#No alternate titles CJ

Real estate agents represent property owners when they sell their homes or land. These agents inspect properties before they agree to sell them. In order for real estate agents to have properties to sell, they must find people who are ready to sell. Agents may call or write letters to property owners to determine if they want to sell their property.

To determine a property's market price, agents compare the property with similar properties that have been sold recently. They may make suggestions to property owners about improvements they can make to increase the value of their property. Then agents take pictures of properties and write short descriptions of the land or buildings. They advertise the property listings online, in newspapers, and real estate booklets.

Agents frequently hold open houses, when the public can tour homes for sale. Agents talk to prospective buyers and answer their questions about the property. When buyers make offers on property, agents listen to the offers and discuss them with sellers. They may accept or reject offers outright. They often negotiate with buyers to get a better sale price for their clients.

Real estate agents also represent property buyers. Before showing properties to potential buyers, agents talk to buyers about the type of properties they would like and can afford. For example, they ask buyers how many rooms they want and what part of town they want to live in. Based on this information, agents search for listings of properties that buyers may like.

Next, agents and buyers visit a number of properties to find one the buyers like. When buyers choose a property, agents explain the steps of the buying process. They help clients fill out the paperwork to make a formal offer. They collect a deposit from clients toward the price of the property. Agents present the offer to the sellers' agent. They negotiate the price of the property with the sellers, following their clients' instructions.

When the offer is accepted, a contract is signed. Agents must see that any special terms of the contract are met before the closing date. For example, they make sure all repairs are made before their clients move in.

Related careers

This career is part of the Marketing cluster of careers.

Related careers include:

• Administrative Services Managers
• Advertising Salespeople
• Appraisers and Assessors
• Auctioneers
• Insurance Agents
• Property and Real Estate Managers
• Sales Representatives

Job duties

Task list

The following list of tasks is specific to real estate agents.

• Present purchase offers to sellers or their agents. May negotiate on behalf of buyers, if necessary.
• Make sure that terms and conditions of purchase are met before closing dates.
• Prepare documents such as representation contracts, deeds, and closing statements.
• Interview potential buyers to determine their wants, needs, and price range.
• Supervise closings. Make sure all purchase documents are complete.
• Listen to buyers' offers. Accept or reject offers. May negotiate different terms of sale.
• Promote property sales through open houses and advertisements.
• Determine the competitive market price for a property.
• Explain characteristics of properties to buyers. Describe the terms of the sale.
• Determine if clients have clear property titles.
• Explain the buying process to clients and answer their questions.
• Inspect properties and notify owners of any problems.
• Attend seminars and training sessions to improve sales techniques.
• Appraise the value of properties. Suggest ways property owners can increase the value of their property.
• Review literature and attend conventions to remain knowledgeable about real estate markets.
• Coordinate meetings between buyers and sellers.

Common work activities

Real estate agents perform the following tasks. These tasks are common to many careers.

• Resolve conflicts and negotiate with others
• Establish and maintain relationships
• Use computers
• Make decisions and solve problems
• Organize, plan, and prioritize work
• Communicate with people outside the organization
• Get information needed to do the job
• Convince others to buy goods or change their minds or actions
• Update and use job-related knowledge
• Perform for or work with the public
• Schedule work and activities
• Communicate with supervisors, peers, or subordinates
• Think creatively
• Explain the meaning of information to others
• Develop and build teams
• Operate vehicles or mechanized equipment
• Document and record information
• Provide advice and consultation to others
• Perform administrative tasks
• Develop goals and strategies
• Evaluate information against standards
• Coordinate the work and activities of others
• Analyze data or information
• Process information
• Identify objects, actions, and events
• Coach others
• Monitor events, materials, and surroundings
• Assist and care for others
• Judge the value of objects, services, or people
• Teach others

Work requirements

Working conditions

In a typical work setting, real estate agents:

Interpersonal relationships

• Have a high level of social contact. They are in constant contact with buyers, sellers, and other agents.
• Are often placed in conflict situations in which buyers and sellers may be rude or angry.
• Communicate with buyers and sellers daily by phone, e-mail, or in person.
• Write letters and memos on a weekly basis.
• Work in a group or as part of a team.

Physical work conditions

• Work indoors while preparing contracts and other paperwork. They work outdoors while showing and inspecting properties.
• Must use a vehicle to travel to and from properties.
• Work somewhat close to other people. They may share office space with coworkers.

Work performance

• Must be exact in their work. Errors could cause clients to lose money.
• Repeat the same tasks over and over, such as preparing contracts.
• Often make decisions that strongly impact clients. They rarely consult with a supervisor before making decisions.
• Are usually able to set their tasks for the day without consulting with a supervisor.
• Are highly competitive with other agents and must meet strict deadlines on a weekly basis.

Hours/travel

• Generally have an irregular schedule each week that varies.
• May work full time or part time, but most work more than 40 hours a week.
• May work evenings and weekends to accommodate the schedules of potential buyers. Sunday afternoon open houses are common in many areas.

Physical demands

Real estate agents frequently:

• Sit for long periods of time.

It is important for real estate agents to be able to:

• Understand the speech of another person.
• Speak clearly so listeners can understand.
• See details of objects that are more than a few feet away.
• See details of objects that are less than a few feet away.

It is not as important, but still necessary, for real estate agents to be able to:

• See differences between colors, shades, and brightness.
• Determine the distance between objects.
• Use stomach and lower back muscles to support the body for long periods without getting tired.

Skills and abilities

Real estate agents need to:

Communicate

• Speak clearly so listeners can understand.
• Understand spoken information.
• Listen to others and ask questions.
• Understand written information.
• Write clearly so other people can understand.
• Read and understand work-related materials.

Reason and problem solve

• Analyze ideas and use logic to determine their strengths and weaknesses.
• Judge the costs and benefits of a possible action.
• Use reasoning to discover answers to problems.
• Follow guidelines to arrange objects or actions in a certain order.
• Understand new information or materials by studying and working with them.
• Combine several pieces of information and draw conclusions.
• Recognize the nature of a problem.
• Develop rules that group items in various ways.
• Notice when something is wrong or is likely to go wrong.
• Think of new ideas about a topic.

Use math and science

• Use math skills to solve problems.
• Choose a mathematical method or formula to solve problems.

Manage oneself, people, time, and things

• Manage the time of self and others.
• Check how well one is learning or doing something.

Work with people

• Solve problems by bringing others together to discuss differences.
• Change behavior in relation to others' actions.
• Be aware of others' reactions and understand the possible causes.
• Persuade others to approach things differently.
• Look for ways to help people.

Perceive and visualize

• Identify a pattern (a figure, object, word, or sound) that is hidden in distracting material.

Education and training

Educational programs

The programs of study listed below will help you prepare for the occupation or career cluster you are exploring.

Programs of study directly related to this occupation

• Marketing
• Real Estate

Other programs of study to consider

• Business, General
• Entrepreneurial and Small Business Operations
• Family and Consumer Sciences, General
• Finance
• Housing and Human Environments

Training

To work as a real estate agent, you typically need to:

• have a high school diploma or equivalent;
• complete training in real estate essentials and practices; and
• have a license to sell real estate.

Education after high school

Most states require real estate agents to complete a formal training program. These programs cover real estate transactions and laws. Programs are between 30 and 90 hours. Many vocational schools, colleges, and universities offer this program.

Most real estate firms offer formal training programs. Some local real estate associations offer courses about the basic and legal aspects of real estate.

Although it is not required, most real estate agents have some college education. Many agents have a bachelor's degree. Several majors are good preparation for this occupation. Some of the best are real estate, business management, finance, and marketing.

Work experience

Many agents transfer from other jobs to real estate sales. Work experience in sales or dealing with people is good preparation for this occupation.

On-the-job training

New agents often work with experienced agents or brokers to learn how to show properties and answer clients' questions. As a new agent you also learn how to close sales and write sales contracts. You might receive training for up to one year.

After training, agents often take seminars on improving their sales.

Helpful high school courses

In high school, take classes that prepare you for college. A college preparatory curriculum may be different from your state's graduation requirements.

You should also consider taking some advanced courses in high school. This includes Advanced Placement (AP) and International Baccalaureate (IB) courses if they are available in your school. If you do well in these courses, you may receive college credit for them. Advanced courses can also strengthen your college application.

Helpful electives to take in high school that prepare you for this career include:

• Communications
• Interior Design
• Marketing
• Principles of Advertising
• Principles of Sales

Many real estate agents are self-employed. If you want to run your own business some day, you should consider taking these courses as well:

• Accounting
• Entrepreneurship
• Introduction to Business

The courses listed above are meant to help you create your high school plan. If you have not already done so, talk to a school counselor or parent about the courses you are considering taking.

You should also check with a teacher or counselor to see if work-based learning opportunities are available in your school and community. These might include field trips, job shadowing, internships, and actual work experience. The goal of these activities is to help you connect your school experiences with real-life work.

Join some groups, try some hobbies, or volunteer with an organization that interests you. By participating in activities you can have fun, make new friends, and learn about yourself. Maybe one of them will help direct you to a future career. Here are examples of activities and groups that may be available in your high school or community.

Things to know

When hiring beginning agents, employers prefer applicants who have a bachelor's degree. However, personality traits are just as important as academic background. Brokers look for agents who are pleasant, honest, and have a neat appearance. Knowledge of the local area is an asset.

When hiring experienced agents, employers require them to have their license. They also analyze agents' sales history.

Employers look for applicants who have tact and excellent people skills. They also look for applicants who are organized, detail-oriented, and have a good memory for names and places.

Tips

Experience in accounting or banking is helpful. College-level course work in sales, architectural drawing, business law, economics, public speaking, and real estate is also helpful. Interview real estate agents and brokers to learn what the job is like. It is important to consider the impacts this type of work may have on family members due to irregular work hours and pay.

Costs to workers

Workers must have a car and extra liability insurance, and may have to join a professional association. Additional costs may include cell phone service, Internet access, listing services, use of an office, support staff, and office equipment. They may also be expected to have business attire.

Licensing/certification

Real estate sales agents must be licensed by the Washington State Department of Licensing as real estate brokers. Requirements include:

• being 18 years of age;
• a high school diploma or equivalent;
• 90-clock hours of real estate course work within two years prior to taking the exam which must include 60 hours in real estate fundamentals and 30 hours in real estate practices;
• submission of fingerprints and being prepared to answer criminal history questions;
• successful passage of electronic exam; and
• payment of application, examination, fingerprint and renewal fees.

Agents must take 30-clock hours of continuing education courses in real estate to renew their license every two years. Fingerprints must be submitted every six years. Additionally, registered sex offenders may be disqualified from holding a license.

For more information, contact:

Washington State Department of Licensing
Real Estate Section 
PO Box 9021
Olympia, WA 98507-9015
360.664.6488

#Added crinimal history questions, rest same 3/19/19 cj. 2/11/20

Job listings

Listed below are links to job categories from the National Labor Exchange that relate to this career. Once you get a list of jobs, you can view information about individual jobs and find out how to apply. If your job search finds too many openings, or if you wish to search for jobs outside of Washington, you will need to refine your search.

• Real Estate Sales Agents 

To get a listing of current jobs from the WorkSource system, go to the WorkSource website .

Wages

The minimum wage for Washington State as of January 1, 2020 is $13.50 per hour. Some areas of the state may have a higher minimum wage.

Pay varies with the type and location of the property and the agent's abilities. Real estate agents earn commissions on sales rather than a salary. Their commissions range from six to ten percent of the property price. Real estate agents are not paid until after the sale closes. Closing a sale can take several months after the seller accepts the buyer's offer. For that reason, beginning real estate agents need enough money to support themselves for at least six months.

Commissions may be divided among several agents and brokers. The broker and the agent in the firm who list the property share part of the commission. In addition, the broker and the agent in the firm who sell the property receive part of the commission. An agent's share varies from firm to firm. In general, it is about half of the amount received by the firm. Agents who both list and sell a property make a higher commission.

Since most real estate agents are self-employed, they do not receive benefits such as health insurance and a retirement plan. They must provide these benefits for themselves.

Employment and outlook

Washington outlook

The table below provides information about the number of workers in this career in various regions. It also provides information about the expected growth rate and future job openings.

National employment

About 56% of real estate agents are self-employed.

Major employers:

• Real estate agencies
• Real estate rental companies

National outlook

Growth in this occupation will be about as fast as average. Many online sites and mobile apps help people view information about homes that are for sale however, growth in population and mobility will contribute to the need for agents as people look for larger homes or need to move due to a job relocation.

Job openings will occur each year as people leave this occupation. Real estate is a competitive industry. Job prospects are best for those with experience and a strong background in sales. Strong social and business ties in the community are also helpful.

Other resources

Institute of Real Estate Management 
430 North Michigan Avenue
Chicago, IL 60611
800.837.0706

National Association of Realtors 
430 North Michigan Avenue
Chicago, IL 60611
800.874.6500
312.329.8200

Runstad Center for Real Estate Studies 
424 Gould Hall
Box 355740
Seattle, WA 98195-5740
206.616.5335

Washington Association of Realtors 
PO Box 719
Olympia, WA 98507-0719
800.562.6024
360.943.3100

Women's Council of Realtors 
430 North Michigan Avenue
Chicago, IL 60611
800.245.8512

References

Career cluster

• Marketing

Career path

• Enterprising (Business Communications)

O*Net  occupation

• Real Estate Sales Agents (41-9022.00) 

O*Net job zone 

• Job Zone 3 - Medium preparation needed. Previous work-related skill, knowledge, or experience is required for these occupations.

DOT occupations

• Building Consultant (250.357-010) 
• Leasing Agent, Residence (250.357-014) 
• Sales Agent, Real Estate (250.357-018) 
• Superintendent, Sales (250.157-010) 

Strong Interest Inventory

• Realtor

Holland occupational cluster

• Enterprising/Conventional/Social

COPSystem

• Business Skilled