Becoming a real estate agent

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Property business is a vast in its dimensions and real estate agents are important persons in this sector. Real estate agents are those people who connect buyers, sellers, contractors, tenants and landowners. In return, they get a particular amount that we often refer as commission. We can not ignore the role of real estate agents. As it is the real estate agents who broker most the real estate deals. If you have in mind to become a real estate agent, today’s blog is for you.

How much money does a real estate agent make?

The amount of money a real estate agent makes definitely depends on the number of deals as real estate agents do not have a salary and they make money out of selling and buying only. Number of transactions they complete, the commissions they bring in, and the agent’s split with their sponsoring broker are the factors important here. Usually commissions are paid once the transaction is made but in certain cases, the real estate agent gets the commission despite the transaction is not complete.

The median annual pay for real estate agents was $48,930 in 2019, according to the most recent data available from the U.S Bureau of Labor Statistics. For brokers, the figure was $59,720.

Education required to become a real estate agent:

Remember education does not affect much here as a real estate agent is a self employed individual. So, you should know the dos and don’ts of business i.e. should have sufficient business knowledge. Practical experience is very important here. But this does not imply that your education is totally irrelevant here. If you have a degree in business administration or certificates and diplomas in real estate management and construction, then you can perform even better.

What should you do?

If you want to become a real estate broker, it is pertinent that you get enough practical experience. And you gain practical experience when you actually start working in the market. For new entrants who have just entered the field, it is advisable to work with an established estate agency either as an employee or as a partner. You can settle terms and conditions of working beforehand in order to avoid unpleasant surprises later. For instance, you can decide on giving a particular share of commission to the owner of the agency when you close a deal. This will provide you enough practical knowledge and experience to establish your own firm and goodwill in the market after some time.

Once you think you have got enough knowledge, you can consider opening your own agency. Your own setup will help you make your name. figure out your agency’s name, set up an office at your desired location, get your company registered, and start working as your own boss!

Last but not the least, remember becoming a real estate agent is not as hard as it seems. You just need to have industry knowledge and a will to work.

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