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Degrees and Schools
Although a specific degree is not required to become a Real Estate Sales Agent, many real estate firms prefer to hire those with some college education since real estate transactions have become more complex in recent years. Degrees in real estate are available at the associates and bachelor's degree level although students who pursue a business degree are also well-positioned for a career in real estate. Shorter programs are available which are specifically designed to meet state licensing requirements but are not considered college courses. Real estate certificate and degree programs are available at a variety of colleges and universities across the US and licensing preparation programs are also widely available, primarily at specialized real estate schools and some community colleges.
Coursework
The coursework in any college-level real estate sales program will typically include courses such as the following:
- real estate principles
- real estate economics and market analysis
- real estate law
- real estate finance
- real estate valuation
- property management
Online Classes and Programs
There are a number of college-level real estate certificate and degree programs available through reputable online schools. Real estate licensing preparation programs are also widely available online. Distance-learning can be a good option to gain knowledge that will be needed to become a real estate sales agent, especially for those who are working or raising a family.
Employment Requirements
All states and Washington D.C. require that Real Estate Sales Agents be licensed by the state. Candidates must pass a written exam and complete a specific number of hours of classroom instruction. Agents will also need to complete continuing education in order to renew their license every year or two as required by their state. Since a realtor's income is based on sales commissions which can vary significantly from year to year, those considering this field should have a financial cushion to help them through lean times. They must also be prepared to work evenings and weekends and be available to work on short-notice.
How to Evaluate Schools and Programs
The following questions may help a student choose the a real estate program that is right for them:
- Program Focus - Is the program designed for future real estate sales agents or for other real estate careers such as appraisal or development?
- Licensing requirements - Is the school an approved provider in the state where the student will be licensed? Will the coursework meet licensing requirements? Will the coursework prepare the student for the licensing exam?
- Program Length - How long is the program? Is the student's commitment to a career in real estate proportionate to the program requirements?
- Flexibility - For degree programs, does the program provide a core education that is useful in other careers? Can credits be transferred to another school or program? Can the student change majors at the same school?
Real Estate Sales Agents
Helping home buyers find their dream home can make for a rewarding career but one that requires hard work, flexibility and the ability to live on an inconsistent income. Real Estate Sales Agents and Brokers, also known as Realtors, earn commissions by helping people buy or sell properties using their expertise to match buyers with homes and to guide their clients through all the steps in the process resulting in a final closing sale. Brokers manage their own real estate businesses while agents work for a broker and pay part of their commission to the broker. Some brokers also rent or manage properties. Specialized Real Estate Agents and Brokers sell commercial, agricultural and industrial properties. Some Realtors are employed by construction companies to sell new homes while most are employed by real estate brokerage firms.
Realtors' responsibilities involve tasks that span the entire length of the real estate sales process and include tasks such as the following:
- call potential clients
- meet client to determine type and price of home they are looking for
- research and identify appropriate homes to show buyers
- research and determine appropriate listing prices
- show homes to potential buyers
- write and negotiate offers and counter-offers
- help arrange financing as needed
Resources
National Association of Realtors - This association of realtors provides education, conducts research and advocates for legislation that affects the industry.
National Association of Independent Real Estate Brokers - This organization assists independent real estate brokers through education, promotion campaigns and a relocation and referral network.
AIR Commercial Real Estate Association - AIR aims to advance the success of commercial and industrial real estate broker members.
National Association of Real Estate Brokers - NAREB is a membership organization of minority real estate professionals that has a mission is to ensure the availability of fair and affordable housing for all Americans.
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