The real estate agent is an important part of the real estate sector and manages the purchase, sale or rental of real estate.
Real estate agents must help sellers and buyers acquire a property at the right price and on the best terms. Real estate agents may specialize in a particular market, such as commercial or residential real estate brokerage.
The work of a real estate agent includes elements of marketing, sales, and management. Real estate agents are usually employed by local or national real estate companies or real estate agencies.
This depends on the country. In Spain, for example, neither a professional qualification nor a license is required; it is sufficient to be self-employed.
In Italy, in order to practice the profession of real estate agent, you must complete professional training and pass the final exam. If you pass the exam, you will receive a broker’s license.
In the United States, the rules vary from state to state, but generally you must first complete a course and pass the final exam.
Real estate agent, requirements
- Good communication skills and the ability to maintain a positive relationship with clients and colleagues
- Strong organizational skills as you will often be dealing with multiple properties simultaneously
- Understanding and interest in the local real estate market and the process of buying and selling properties
- Willingness to take on responsibility, as you will be required to take on a lot of responsibility from the start as a real estate agent
- Willingness to travel and spend time away from the office; a driver’s license is usually required
- Negotiation skills and sales talent
- Ambition, determination and charisma
- Familiarity with computers and telephones
Real estate agent, duties
Advising and assisting sellers and buyers in the real estate market to acquire properties at the right price and in the best market conditions.
Adapting to the needs and financial possibilities of clients to propose suitable solutions, advising on prices, mortgages, legal requirements and related issues, ensuring fair and honest treatment.
Conducting comparative market analysis to estimate property value and keep abreast of the real estate market.
Accompanying buyers to property viewings and advising on the suitability and value of the property viewed and updating available property listings.
Preparing required documents (contracts, leases, etc.). Verifying that clients have clean property titles and that all documents related to the property are in order. Contacting appraisers, escrow companies, credit institutions and notaries.
Contacting owners and advertising properties for sale. Advertising the sale through advertisements.
Working closely with sellers to sell properties in the most appropriate manner to maximize returns and advising on how to make homes more attractive to potential buyers.
Responding to real estate inquiries from potential buyers.
In Europe, a salaried real estate agent earns an average of €1,500 per month plus commissions (on sales). The minimum salary is around €800 net per month, while the maximum salary can easily exceed €2,000 per month. Those who earn less are agents with little experience or newly hired agents, while more experienced agents earn higher salaries.
In addition, there are commissions, which can increase the salary significantly.
In the United States, the average salary of a real estate agent (including commissions) is about $8,000 per month.