Real Estate Sales Agents: Schools and Careers

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Real Estate Sales Agents - Career Information

Real Estate Sales Agents picture    Real Estate Sales Agents image

The buying or selling of a home or investment property can be one of the most significant events in a person's life. Both of these things are usually accomplished with the assistance of a Real Estate Agent. Agents are responsible for arranging sales of houses or other properties on behalf of the sellers and/or buyers. In order to do this well, agents need to interface closely with the client on issues such as the method of sale, presentation of the property, costs, and inspection times. They need to know the local market well enough to accurately estimate the current market price and suggest a reserve or minimum selling price. They then need to arrange for the optimal means of advertising the property. Once an agreement is reached, the agent is responsible for drawing up the legal papers and arranging financing and insurance.

Real estate agents have similar jobs as Real Estate Brokers and the duties often overlap. One of the principal distinctions is that brokers are licensed to manage their own real estate businesses. Agents usually work with a broker, providing their services on a contract basis. In this type of arrangement, the agent is typically given access to the broker's resources which often includes office space. In return, the broker and agent share the commission earned from the agent's sale of the property.

Some real estate agents are specialists and concentrate on a particular facet of the profession. These include the following:

  • Relocation Specialists: Their principal function is to assist individuals who are relocating to other geographic areas. In order to do this, specialists need to have extensive knowledge of schools and other neighborhood characteristics of the new area. They are often paid by employers who are relocating their employees.
  • Commercial Real Estate Agents: They focus specifically on the purchase or sale of commercial property. Their expertise includes knowledge of such things as available housing for employees of the relocating business, school facilities for their children, and the local availability of appropriate labor.
  • Leasing Agents: They are responsible for keeping commercial buildings fully occupied while obtaining the highest possible rental rates. This type of agent needs a thorough knowledge of local rental rates and of local rent control laws and laws which affect real estate development.

Responsibilities

Real estate agents provide assistance to individuals or families who want to buy a house or sell one. When the client is a buyer, the agent will first meet with the client to find out what kind of house the client wants and how much money he/she can afford to spend. The agent will then research homes for sale and take the buyer to see some. When the client is a seller, the real estate agent will help the client set the price for the house and will come up with strategies to most effectively advertise and present the home to potential buyers.

Real estate agents act as intermediaries in price negotiations and represent their client in discussions with the other party. In order to do their job properly, they need to maintain a thorough knowledge of the real estate market in their community. They also need to know their client well enough to be able to identify which neighborhoods will best fit his/her needs and budget. They need knowledge of local zoning laws and they also need to know the best sources of obtain financing. In many cases, the agent becomes directly involved in securing favorable financing from a lender. As part of the process, which can often be a long one, agents may meet numerous times with prospective buyers to discuss and visit available properties. Once a contract has been signed by the buyer and the seller, the real estate agent is responsible for ensuring that all special terms of the contract are met before the closing date and also that any legally-required or agreed-upon inspections (e.g., radon and termite inspections) occur. In addition, the agent must see to it that any agreed-upon repairs are made by the seller.

When representing sellers, agents typically arrange for title searches to verify ownership. When listing a property for sale, agents compare the listed property with similar properties that recently sold so that they can best determine a competitive market price for the property. Although acting as a representative of the seller, agents quite often assist in arrange favorable financing for the prospective buyer. Many times, this move represents the difference between success and failure in closing a sale.

Job Characteristics

Typically, real estate agents work more than 40 hours a week and their work often includes evening and weekend hours. Despite the long and irregular hours, most agents have the freedom to pretty much determine their own schedule. They are in most cases able to arrange their work so that they can have time off when they want or need it. Agents usually work out of an office but in some cases work out of their home. Much of their home/office time is spent either on the phone or on the computer, where they peruse the Internet to gather and collate information about properties. Most of their out-of-office time is spent on the road showing houses to customers, analyzing properties for sale, or meeting with prospective clients.

A career as a real estate agent can be rewarding in an emotional, and sometimes in a financial sense; however, it can also be challenging and frustrating. The job requires lots of preparation and a ton of patience. Dealing heavily with the public requires good agents to have other skills as well. A pleasant personality, a good appearance, maturity, trustworthiness, good judgment, and enthusiasm for the job are attributes needed to attract prospective customers in this highly competitive field. Successful agents are also detail-oriented, well organized, and have a good memory for names and faces.

Employment Outlook

The U.S. Department of Labor Bureau of Labor Statistics (USDL BLS) projects employment of real estate agents to grow about as fast as the average profession over the next several years. That having be said, it should be noted that job prospects for real estate agents are very sensitive to swings in the economy and most especially to interest rates. During periods of low economic activity and rising interest rates, the sale volume falls and so does the resulting demand for agents. The USDL BLS points out that relatively low interest rates along with a general perception that real estate usually is a good investment portend a positive outlook for sales of real estate. On the other hand, improvements in technology are now allowing prospective customers to perform their own searches for properties online by accessing real estate information available on the Internet. This development has lessened to some extent the need for agents or at the very least made their jobs harder.

The field is relatively easy to enter and is attractive because of its flexible working conditions; however, those starting out face competition from their better established and more experienced counterparts in obtaining listings and in closing sales. The main sources of earnings of real estate agents are commissions on sales. Commission rates vary according to the type of property, its value, and whether or not the agent works for a broker (in which case he/she will need to share the commission with the broker). Commissions may be divided among several agents and brokers. Earnings, particularly for beginners, are often irregular because sometimes weeks and even months go by without a sale.

Real Estate Agent Training, Certification, and Licensing

Every state requires agents to be at minimum high school graduates who have completed between 30 and 90 hours of classroom instruction. However, as real estate transactions have become more legally complex, many firms have turned to college graduates to fill positions. Literally hundreds of universities, colleges, and community colleges offer courses in real estate. Many offer associate's or bachelor's degrees in real estate; some offer graduate degrees. Additional courses in business administration, finance, statistics, economics, marketing, law, and accounting can be especially helpful.

Licensure is a requirement in all states and every state has its own licensing process; therefore it is imperative that an aspiring real estate agent take the time to research the requirements of the state in which he/she intends to practice. The best way to start is by contacting the state's real estate commission. While no two states have the same regulations for obtaining a license, the requirements usually include an educational component as well as the ability to pass some sort of exam. Subject matter covered by the licensing exams varies by state but generally includes questions relating to national and state-specific laws and regulations affecting the sale of property. Some states also require sponsorship by a licensed real estate broker and/or a specific amount of experience selling real estate. Once a license is obtained, some states require annual renewal with proof of continuing education credits.

For those starting out, a good approach is to seek out and join the local real estate agents' association. Agents who are active in local real estate associations can broaden their contacts and increase their earnings. There are also national associations, most notably the National Association of Realtors (NAR), which boasts over one million members and provides continuing education courses, an annual requirement for maintaining a license in some states.

Resources

Major Employers

The large majority of real estate agents are self-employed. Most of them, however, work on a commission or fee basis for local or nationally known brokerage firms. Many agents work part time, combining their real estate activities with other careers. Although real estate is sold everywhere, real estate agent jobs tend to be concentrated in large urban areas and in rapidly growing communities.

Schools for Real Estate Sales Agents are listed in the column to the left.

The Top Cities tab shows employment statistics for Real Estate Sales Agents by major metro area.

The Top Industries tab shows which industries have the most jobs for Real Estate Sales Agents, along with salary data by industry.

The Find Schools tab lets you search for schools by field of study, degree level, and location.

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Metro Areas Rated for Popularity for:
Real Estate Sales Agents

Listed below are metro areas ranked by the popularity of jobs for Real Estate Sales Agents relative to the population of the city, as of 2008. Salary data was obtained from the U.S. Bureau of Labor Statistics.

A Relative Popularity of 1.0 means that the city has an average number of the particular job, for its population, compared to the rest of the US. Higher numbers mean proportionally more jobs of that type.

Source: U.S. Bureau of Labor Statistics

Metro Area Jobs Salary
(2013)
Relative
Popularity

Alabama

     
Birmingham 490 $54070 0.83
Hoover 490 $54070 0.83
Florence 30 $0 0.52
Muscle Shoals 30 $0 0.52
Huntsville 190 $58230 0.75
Mobile 230 $51130 1.14
Montgomery 100 $48880 0.53
Tuscaloosa 100 $35570 0.95

Alaska

     
Anchorage 120 $71070 0.57
Fairbanks 30 $67910 0.7

Arizona

     
Flagstaff 0 $31290
Lake Havasu City 120 $44780 2.25
Kingman 120 $44780 2.25
Phoenix 2300 $31120 1.08
Mesa 2300 $31120 1.08
Glendale 2300 $31120 1.08
Tucson 460 $27690 1.1
Yuma 60 $52170 0.88

Arkansas

     
Hot Springs 60 $25960 1.36
Jonesboro 40 $34540 0.68
Little Rock 230 $38180 0.56
North Little Rock 230 $38180 0.56
Conway 230 $38180 0.56

California

     
Bakersfield 70 $29600 0.19
Delano 70 $29600 0.19
Chico 70 $46180 0.86
Fresno 180 $56200 0.46
Los Angeles 6010 $38050 0.92
Long Beach 6010 $38050 0.92
Santa Ana 6010 $38050 0.92
Modesto 90 $38400 0.48
Oxnard 110 $66850 0.33
Thousand Oaks 110 $66850 0.33
Ventura 110 $66850 0.33
Redding 50 $68000 0.74
Riverside 850 $51500 0.59
San Bernardino 850 $51500 0.59
Ontario 850 $51500 0.59
Sacramento 540 $56140 0.54
Arden 540 $56140 0.54
Arcade 540 $56140 0.54
Roseville 540 $56140 0.54
San Diego 1570 $41670 1.02
Carlsbad 1570 $41670 1.02
San Marcos 1570 $41670 1.02
San Francisco 2170 $34740 0.88
Oakland 2170 $34740 0.88
Fremont 2170 $34740 0.88
San Jose 430 $55740 0.38
Sunnyvale 430 $55740 0.38
Santa Clara 430 $55740 0.38
San Luis Obispo 40 $68230 0.32
Paso Robles 40 $68230 0.32
Santa Barbara 80 $55390 0.39
Santa Maria 80 $55390 0.39
Goleta 80 $55390 0.39
Santa Cruz 60 $30300 0.55
Watsonville 60 $30300 0.55
Santa Rosa 80 $44650 0.38
Petaluma 80 $44650 0.38
Stockton 150 $62570 0.62
Vallejo 50 $48860 0.34
Fairfield 50 $48860 0.34
Visalia 30 $64470 0.21
Porterville 30 $64470 0.21
Yuba City 0 $36950

Colorado

     
Boulder 260 $40690 1.34
Colorado Springs 450 $34730 1.53
Denver 1400 $58800 0.91
Aurora 1400 $58800 0.91
Broomfield 1400 $58800 0.91
Fort Collins 200 $65980 1.25
Loveland 200 $65980 1.25
Grand Junction 110 $31790 1.55
Greeley 50 $56090 0.44

Connecticut

     
Bridgeport 130 $56000 0.27
Stamford 130 $56000 0.27
Norwalk 130 $56000 0.27
Hartford 330 $0 0.49
West Hartford 330 $0 0.49
East Hartford 330 $0 0.49
New Haven 0 $49950

Delaware

     
Dover 80 $35330 1.11

Florida

     
Cape Coral 990 $42160 3.91
Fort Myers 990 $42160 3.91
Crestview 310 $28420 3.49
Fort Walton Beach 310 $28420 3.49
Destin 310 $28420 3.49
Deltona 620 $26720 3.36
Daytona Beach 620 $26720 3.36
Ormond Beach 620 $26720 3.36
Gainesville 530 $27070 3.68
Jacksonville 1680 $30710 2.39
Lakeland 430 $27520 1.83
Winter Haven 430 $27520 1.83
Miami 9420 $33730 3.45
Fort Lauderdale 9420 $33730 3.45
Pompano Beach 9420 $33730 3.45
Naples 830 $35100 5.86
Marco Island 830 $35100 5.86
North Port 1160 $29910 3.91
Bradenton 1160 $29910 3.91
Sarasota 1160 $29910 3.91
Ocala 170 $26250 1.6
Orlando 4520 $31900 3.62
Kissimmee 4520 $31900 3.62
Sanford 4520 $31900 3.62
Palm Bay 380 $33160 1.66
Melbourne 380 $33160 1.66
Titusville 380 $33160 1.66
Palm Coast 120 $28590 5.1
Panama City 280 $30060 3.36
Lynn Haven 280 $30060 3.36
Panama City Beach 280 $30060 3.36
Pensacola 240 $27590 1.29
Ferry Pass 240 $27590 1.29
Brent 240 $27590 1.29
Port St. Lucie 430 $28240 2.84
Punta Gorda 110 $27700 2.16
Sebastian 110 $30840 2.06
Vero Beach 110 $30840 2.06
Tallahassee 350 $31090 1.87
Tampa 2940 $32680 2.13
St. Petersburg 2940 $32680 2.13
Clearwater 2940 $32680 2.13

Georgia

     
Athens 230 $25990 2.43
Clarke County 230 $25990 2.43
Atlanta 5280 $36510 1.91
Sandy Springs 5280 $36510 1.91
Marietta 5280 $36510 1.91
Brunswick 80 $30100 1.68
Dalton 40 $27610 0.54
Gainesville 110 $33080 1.2
Hinesville 40 $30030 1.9
Fort Stewart 40 $30030 1.9
Macon 130 $28860 1.14
Rome 30 $34520 0.78
Savannah 260 $31240 1.45
Valdosta 100 $32250 1.76
Warner Robins 60 $29540 0.87
Albany 70 $29260 1.05

Hawaii

     
Honolulu 180 $52480 0.34

Idaho

     
Boise City 390 $25470 1.21
Nampa 390 $25470 1.21
Coeur d'Alene 30 $29090 0.5
Idaho Falls 0 $30420

Illinois

     
Bloomington 90 $29860 0.87
Normal 90 $29860 0.87
Champaign 110 $37030 0.98
Urbana 110 $37030 0.98
Decatur 80 $28080 1.31
Peoria 60 $24530 0.27
Rockford 30 $40720 0.19

Indiana

     
Fort Wayne 190 $32010 0.77
Indianapolis 520 $43550 0.47
Carmel 520 $43550 0.47
Lafayette 100 $25610 0.97
Terre Haute 40 $30340 0.49

Iowa

     
Ames 40 $27050 0.9
Cedar Rapids 150 $58980 0.9
Des Moines 310 $45180 0.79
West Des Moines 310 $45180 0.79
Iowa City 30 $53360 0.31
Waterloo 0 $36730
Cedar Falls 0 $36730

Kansas

     
Topeka 0 $28030
Wichita 190 $33390 0.57

Kentucky

     
Bowling Green 50 $35560 0.77
Elizabethtown 50 $32140 0.95
Lexington 300 $28490 1
Fayette 300 $28490 1
Owensboro 40 $27350 0.62

Louisiana

     
Alexandria 60 $26100 0.78
Baton Rouge 110 $24960 0.24
Lafayette 100 $31450 0.53
Lake Charles 70 $32550 0.64
New Orleans 420 $39220 0.67
Metairie 420 $39220 0.67
Kenner 420 $39220 0.67
Shreveport 150 $34200 0.71
Bossier City 150 $34200 0.71

Maine

     
Portland 70 $38840 0.32
South Portland 70 $38840 0.32
Biddeford 70 $38840 0.32

Maryland

     
Baltimore 1560 $42430 1.02
Towson 1560 $42430 1.02

Massachusetts

     
Barnstable Town 120 $56150 1

Michigan

     
Ann Arbor 100 $35290 0.41
Detroit 1340 $36690 0.62
Warren 1340 $36690 0.62
Livonia 1340 $36690 0.62
Flint 80 $46170 0.54
Grand Rapids 120 $38590 0.24
Wyoming 120 $38590 0.24
Holland 70 $29200 0.59
Grand Haven 70 $29200 0.59
Jackson 30 $42610 0.46
Kalamazoo 60 $32250 0.39
Portage 60 $32250 0.39
Lansing 140 $23090 0.6
East Lansing 140 $23090 0.6
Saginaw 50 $32550 0.47
Saginaw Township North 50 $32550 0.47

Minnesota

     
St. Cloud 30 $39890 0.3

Mississippi

     
Gulfport 40 $28740 0.36
Biloxi 40 $28740 0.36
Hattiesburg 80 $33930 1.15
Jackson 320 $28720 1.07
Pascagoula 50 $18780 0.74

Missouri

     
Columbia 90 $34180 0.81
Springfield 140 $53940 0.62

Montana

     
Billings 80 $29450 0.82
Missoula 70 $46930 1.05

Nebraska

     
Lincoln 90 $29760 0.45

Nevada

     
Carson City 40 $45380 1.28
Las Vegas 1490 $44180 1.48
Paradise 1490 $44180 1.48
Reno 160 $36660 0.69
Sparks 160 $36660 0.69

New Jersey

     
Atlantic City 70 $48850 0.45
Hammonton 70 $48850 0.45
Ocean City 60 $68650 1.43
Trenton 170 $48760 0.65
Ewing 170 $48760 0.65

New Mexico

     
Albuquerque 270 $42800 0.62
Las Cruces 40 $64780 0.45
Santa Fe 70 $77230 0.92

New York

     
Albany 340 $58340 0.67
Schenectady 340 $58340 0.67
Troy 340 $58340 0.67
Binghamton 80 $36480 0.65
Buffalo 320 $48000 0.49
Niagara Falls 320 $48000 0.49
Ithaca 40 $55900 0.68
Kingston 50 $60580 0.77
Poughkeepsie 290 $46370 0.98
Newburgh 290 $46370 0.98
Middletown 290 $46370 0.98
Rochester 530 $57230 0.9
Syracuse 300 $0 0.84
Utica 40 $59080 0.27
Rome 40 $59080 0.27

North Carolina

     
Asheville 170 $60660 0.8
Durham 170 $68960 0.52
Chapel Hill 170 $68960 0.52
Fayetteville 130 $36110 0.89
Greensboro 440 $41290 1.06
High Point 440 $41290 1.06
Greenville 70 $0 0.8
Hickory 0 $31150
Lenoir 0 $31150
Morganton 0 $31150
Jacksonville 60 $36880 1.22
Raleigh 810 $50710 1.27
Cary 810 $50710 1.27
Wilmington 320 $57300 1.94
Winston 150 $39950 0.6
Salem 150 $39950 0.6

North Dakota

     
Bismarck 120 $32480 1.47

Ohio

     
Cleveland 960 $30260 0.79
Elyria 960 $30260 0.79
Mentor 960 $30260 0.79
Columbus 970 $32370 0.86
Dayton 270 $27580 0.62
Toledo 200 $32700 0.55
Akron 150 $50600 0.38

Oklahoma

     
Lawton 60 $28170 1.17
Oklahoma City 1340 $33870 1.87
Tulsa 770 $42670 1.52

Oregon

     
Bend 0 $23860
Corvallis 0 $32960
Eugene 50 $66960 0.27
Springfield 50 $66960 0.27
Salem 90 $37210 0.52

Pennsylvania

     
Altoona 40 $36960 0.58
Erie 90 $37370 0.57
Harrisburg 360 $41870 0.97
Carlisle 360 $41870 0.97
Lancaster 320 $42390 1.19
Lebanon 30 $46090 0.57
Pittsburgh 1500 $54910 1.11
Reading 160 $40980 0.82
Scranton 80 $42620 0.27
Wilkes 80 $42620 0.27
Barre 80 $42620 0.27
State College 110 $42040 1.41
Williamsport 30 $44660 0.49
York 120 $37760 0.57
Hanover 120 $37760 0.57

Puerto Rico

     
San Juan 290 $44650 0.34
Caguas 290 $44650 0.34
Guaynabo 290 $44650 0.34

South Carolina

     
Anderson 50 $30110 0.68
Charleston 730 $30810 2.07
North Charleston 730 $30810 2.07
Summerville 730 $30810 2.07
Columbia 670 $31910 1.62
Florence 80 $30890 0.78
Greenville 450 $38880 1.24
Mauldin 450 $38880 1.24
Easley 450 $38880 1.24
Myrtle Beach 660 $27520 4.89
North Myrtle Beach 660 $27520 4.89
Conway 660 $27520 4.89
Spartanburg 100 $31440 0.68
Sumter 30 $51750 0.76

South Dakota

     
Rapid City 80 $45040 1.15
Sioux Falls 90 $63910 0.52

Tennessee

     
Knoxville 100 $0 0.26
Nashville 540 $29140 0.57
Davidson 540 $29140 0.57
Murfreesboro 540 $29140 0.57
Franklin 540 $29140 0.57

Texas

     
Amarillo 60 $28810 0.43
Austin 1570 $48470 1.54
Round Rock 1570 $48470 1.54
San Marcos 1570 $48470 1.54
Beaumont 110 $0 0.61
Port Arthur 110 $0 0.61
Brownsville 190 $29540 1.18
Harlingen 190 $29540 1.18
College Station 80 $36950 0.7
Bryan 80 $36950 0.7
Corpus Christi 120 $23570 0.55
Dallas 5960 $38320 1.62
Fort Worth 5960 $38320 1.62
Arlington 5960 $38320 1.62
El Paso 340 $30810 1.01
Houston 5720 $46330 1.73
Sugar Land 5720 $46330 1.73
Baytown 5720 $46330 1.73
Killeen 100 $28030 0.65
Temple 100 $28030 0.65
Fort Hood 100 $28030 0.65
Lubbock 230 $0 1.47
McAllen 70 $37960 0.26
Edinburg 70 $37960 0.26
Mission 70 $37960 0.26
Midland 180 $0 1.85
Odessa 60 $29140 0.67
San Angelo 30 $24540 0.59
San Antonio 1330 $35090 1.25
New Braunfels 1330 $35090 1.25
Sherman 40 $38140 0.75
Denison 40 $38140 0.75
Tyler 90 $29760 0.79
Waco 100 $24970 0.82
Wichita Falls 50 $0 0.75
Abilene 100 $44420 1.29

Utah

     
Ogden 430 $29730 1.78
Clearfield 430 $29730 1.78
Provo 380 $37650 1.7
Orem 380 $37650 1.7
St. George 190 $47090 3.18
Salt Lake City 1000 $30040 1.29

Virginia

     
Blacksburg 170 $38560 2.21
Christiansburg 170 $38560 2.21
Radford 170 $38560 2.21
Charlottesville 280 $36310 2.38
Danville 30 $36610 0.69
Lynchburg 160 $31100 1.35
Richmond 1530 $42990 2.11
Roanoke 230 $44030 1.27

Washington

     
Bellingham 100 $29730 1.04
Bremerton 30 $60960 0.36
Silverdale 30 $60960 0.36
Kennewick 130 $65210 1.07
Pasco 130 $65210 1.07
Richland 130 $65210 1.07
Olympia 160 $57600 1.42
Seattle 2670 $39690 1.3
Tacoma 2670 $39690 1.3
Bellevue 2670 $39690 1.3
Spokane 220 $50270 0.92
Wenatchee 40 $53550 0.88
East Wenatchee 40 $53550 0.88

Wisconsin

     
Eau Claire 0 $43120
Green Bay 50 $32480 0.28
Janesville 50 $42910 0.64
Madison 210 $43440 0.52
Milwaukee 520 $30310 0.53
Waukesha 520 $30310 0.53
West Allis 520 $30310 0.53
  • Overview
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  • Overview
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Most Popular Industries (as of 2008) for:
Real Estate Sales Agents

Industries representing at least 1% of total jobs for the occupation.

Source: U.S. Bureau of Labor Statistics

Industry Jobs Percent Salary
(2008)
Real Estate 125,840 77% $37,720
Construction 13,220 8% $49,710
Government 4,690 2% $62,650
Civil Engineering 4,390 2% $44,570
Office Services And Staffing 3,290 2% $43,860
Professional And Technical Services 3,270 2% $45,780
Oil And Gas 2,030 1% $56,850
  • Overview
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Selected Schools for Real Estate Sales Agents (including any online schools)

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Real Estate Agents Schools by State

We have some additional detailed pages at the state level for Real Estate Sales Agents.

Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.

Real Estate Sales Agents Career Videos

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