Definition of career area real property: property consisting of houses and land
Education&Training Before applying for a real estate Salesperson License, an individual must first furnish the Commission satisfactory evidence of successfully completing the following education: Principles of Real Estate core real estate course [60 classroom hours] Law of Agency core real estate course (30 classroom hours) Law of Contracts core real estate course (30 classroom hours) An additional core real estate course (30 classroom hours) Another four semester (60 classroom) hours in core courses or in related courses acceptable to the Commission.
Main duties and responsibilities, nature of work, working conditions If you're doing deals, there are multitudes of action items, deadlines and deliveries involved. A busy agent spends time each day in getting paperwork to the right places, explaining contract items to clients, coordinating inspections, reviewing documents and more. –Working with buyer prospects and clients: –Working with buyer clients isn't just driving them around looking at homes or other properties. There's a great deal of preparation involved in determining their needs, finding suitable properties and gathering information to help your buyer clients to make decisions.
Qualifications for job (such as licensing, certifications, etc.)
Wage or salary range The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004. The middle 50 percent earned between $23,500 and $58,110 a year. The lowest 10 percent earned less than $17,600, and the highest 10 percent earned more than $92,770. Median hourly earnings in the industries employing the largest number of real estate sales agents in May 2004 were as follows: Residential building construction$54,770Offices of real estate agents and brokers37,970Activities related to real estate32,460Lessors of real estate25,840
Employment outlook Employment of real estate brokers and sales agents is expected to grow about as fast as average for all occupations through the year 2014, because of the increasing housing needs of a growing population, as well as the perception that real estate is a good investment. Relatively low interest rates should continue to stimulate sales of real estate, resulting in the need for more agents and brokers. In addition, a large number of job openings will arise each year from the need to replace workers who transfer to other occupations or leave the labor force. However, job growth will be somewhat limited by the increasing use of technology, which is improving the productivity of agents and brokers. For example, prospective customers often can perform their own searches for properties that meet their criteria by accessing real estate information on the Internet. The increasing use of technology is likely to be more detrimental to part-time or temporary real estate agents than to full-time agents, because part-time agents generally are not able to compete with full-time agents who have invested in new technology. Changing legal requirements, such as disclosure laws, also may dissuade some who are not serious about practicing full time from continuing to work part time.
Opportunities for advancement Most employers prefer to hire college graduates for property management positions. Entrants with degrees in business administration, accounting, finance, real estate, public administration, or related fields are preferred, but those with degrees in the liberal arts also may qualify. Good speaking, writing, computer, and financial skills, as well as an ability to deal tactfully with people, are essential in all areas of property management.
Specific jobs in the field and places where people in this occupation might work A small "boutique" real estate office. Being small and focused, allows the agents to specialize in one-on-one interaction with buyers and sellers and allows a more personal approach to selling real estate.