Residential Real Estate Broker
Job Title: Sales Associate
Type of Company: My company specializes in listing and selling residential real estate, with a emphasis on new construction. We work with both buyers and sellers.
Education: Graduate, Wilmington High School Attended Middlesex Community College
Previous Experience: I was a customer service rep for a combination office paper supplier and office chair supplier. I worked as an inside sales coordinator for an office furniture company, then took the real estate licensing course and have now sold real estate full time for the past five years.
Job Tasks: I work with both buyers and sellers in all aspects of a residential real estate transaction. With buyers, I help them obtain a mortgage, set them up with an email search, take them out to view properties, help them write an offer and negotiate the offer, guide them through the home inspection process, help negotiate the purchase and guide them through to closing.
With sellers, I do a market analysis on their home which consists of comparing all the recent sales, under agreement homes, and active for sale homes that are similar to theirs. I then suggest a list price, have them sign a contract with me so that I can market their home. This consists of taking digital photos, creating all marketing materials, posting the listing on the internet using several websites, creating a digital tour, holding open houses, setting up appointments so other brokers can show it to their clients, then when an offer comes in I negotiate the best price for my seller. I then guide them through the purchase and sale, check to make sure the buyer has a mortgage commitment letter from his bank, schedule all items for closing, work with the closing attorney to properly schedule the closing and go with them on the closing day to sign the papers.
In addition to all of this, I take continuing education classes, and keep all of my clients informed on the changing market.
Best and Worst Parts of the Job: The best parts of the job are meeting new people and making lifelong friends. I also absolutely love looking at all the houses that I show my customers.
The worst parts are when people are not honest, or when they do not cooperate in a transaction and you have to fight for what your client needs or for what is ethical.
For the most part, though, it is a challenging and rewarding job and I absolutely love it.
Job Tips: The best way to build a business in real estate is to work by referral. I recommend that after you get your license you also take the Brian Buffini program which shows you how to do this. The best business you will have is your friends, family and people you know. If you treat them all well, they will always send people to you and you will never want for business. Also, keep up with the market, know your area, know the numbers and be ready for whatever question is thrown at you. You must also be tech-savvy, know how to use all of the marketing tools.
Additional Thoughts: The thing that surprised me the most about this job is that every day is a school day. I have been doing this for 5 years and I am still learning. Very challenging! If I could change one thing, I would have started earlier and I would have started working by referral earlier. It is the best way.
The most important personal qualities for success are personality, persistence, technological knowledge and patience. You need to be able to talk to people, and listen; you need to be able to keep coming back when you get rejected and you need to be able to navigate the computer. Patience comes into play when people get emotional about a deal.