| If you're wondering how to become a real estate | | | | agreements. |
| agent, the basic process is fairly simple, although it | | | | -Be the intermediary in negotiations between buyers |
| does vary a lot from state to state.. You will need to | | | | and sellers. |
| take classes, pass exams, earn a real estate license, | | | | -Determine a property's market value by comparing |
| find a broker to work for, then find sellers or buyers | | | | the property with similar properties that have |
| as clients.To successfully practice as a real estate | | | | recently sold. |
| agent in this competitive business can be challenging. | | | | -Schedule appointments to show homes to potential |
| You'll have to stay current on legal changes, | | | | buyers. |
| understand the real estate contracts and be | | | | -Find properties that are consistent with buyers' |
| technologically aware. If you are determined, the | | | | needs and available finances. |
| payout can be huge.Here are the basics of what you | | | | -There is so much variety that a real estate agent is |
| need to know about becoming a real estate agent.1) | | | | usually never bored.3) What is a REALTOR(R)? |
| Real Estate Agent Licensing Requirements | | | | Many people are confused about the difference |
| The Licensing requirements are different for each | | | | between a real estate agent and a REALTOR(R).A |
| state. In general, you will have to:-Meet an age | | | | real estate agent becomes a REALTOR(R) when he |
| requirement | | | | or she pays an annual fee to the National Association |
| -Pass a background check | | | | of REALTORS(R) and subscribes to its Code of |
| -Complete approved real estate courses from a | | | | Ethics. The agent generally joins through the local |
| state-approved school | | | | board or association, at the city level. Membership in |
| -Pass a state exam | | | | the REALTORS(R) is optional, but highly |
| -Complete an application form | | | | recommended.4) How much can you earn? |
| -Submit various feesAgents just earning their license | | | | Real estate agents are generally paid on commission. |
| work for a real estate broker. Most new agents sign | | | | This commission is a percentage of the sales price. |
| up with one of the big company brokerages. If you | | | | The seller will generally pay 4-6% of the sales price |
| decide at some point to work for yourself, you will | | | | as the fee for having a professional sell their |
| need to earn a broker license. Note that the most | | | | property. That will often be split equally between the |
| successful agents, even those working for a broker, | | | | seller's broker and broker who brings the buyer to |
| treat the real estate profession as their own | | | | the table.As an example, if the fee for a $300,000 |
| business, not just a job. This is one of the secrets to | | | | property is 6%, the buyer's broker will be paid 3% or |
| success in this field.2) A Day in the Life of a Real | | | | $9000 and the seller's broker will also be paid 3% or |
| Estate Agent | | | | $9000. The agent is paid directly by the employing |
| A real estate agent's primary job function is to help | | | | broker, using their agreed-upon commission split. This |
| clients in the (complex) process of buying and selling | | | | is often 50-50 for beginning agents, so in that case |
| real estate.The list of duties includes but is not limited | | | | the agent in our example would receive $4500.Visit |
| to:-Interview buyers to determine what kinds of | | | | Real Estate Career Info for requirements for |
| properties they are looking for. | | | | obtaining a real estate license in your state.This article |
| -Submit buyers' purchase offers to sellers. | | | | may be reprinted if proper credit is given and all links |
| -Work with lenders, escrow officers, home | | | | left intact.Copyright©2005 |
| inspectors, and pest control operators to make sure | | | | Real-Estate-Career-Info.comAndre McFayden, Ph.D. is |
| that transactions close on time. | | | | a Real Estate Broker and contributor to |
| -Prepare documents such as listing and purchase | | | | real-estate-career-info. |