Career Development

What Does a Realtor Do?

Find out what a realtor does, how to get this job, and what it takes to succeed as a realtor.

Real estate agents are the people who help you buy and sell homes. They work with both buyers and sellers, but they typically represent the interests of one party in a transaction. Real estate agents provide valuable services to their clients, including market research, negotiation assistance, and other forms of support.

Realtor Job Duties

Realtors typically have a wide range of responsibilities, which can include:

  • Communicating with clients on a regular basis to answer questions and provide updates on the status of a transaction
  • Negotiating the terms of a sale or purchase with the client, including price, financing terms, and other details
  • Creating marketing materials for listings such as brochures and flyers
  • Conducting open houses to showcase properties to potential buyers
  • Conducting appraisals of properties in order to determine their value for tax purposes or legal proceedings
  • Preparing paperwork related to real estate transactions, including contracts, offers, counteroffers, and closing documents
  • Coordinating inspections of properties before they are listed or sold
  • Finding potential home buyers who have the ability to pay cash or can secure a loan for the purchase of a home within a specified time frame
  • Providing guidance to prospective home buyers on selecting a neighborhood and a specific property based on their needs and preferences

Realtor Salary & Outlook

Realtors’ salaries vary depending on their level of education and experience, the company size and geographic location.

  • Median Annual Salary: $125,000 ($60.1/hour)
  • Top 10% Annual Salary: $165,000 ($79.33/hour)

The employment of realtors is expected to grow at an average rate over the next decade.

Growth and population mobility will lead to increased housing demand, which should result in more home sales and property sales. However, the decline in the national homeownership rate may limit the need for real estate brokers.

Realtor Job Requirements

A realtor typically needs to have the following:

Education: Realtors are typically required to have a minimum of a high school diploma or GED. Many realtors choose to pursue a bachelor’s degree in real estate or a related field. Realtors can also earn a Master of Real Estate Development degree, which takes two years to complete and includes coursework in real estate, finance, economics and business.

Training & Experience: Realtors receive training through the Realtor Institute, which is a course that must be completed before becoming a Realtor. The institute provides training in real estate law, ethics, real estate finance, real estate technology, real estate practice, real estate economics and real estate marketing.

Realtors can also receive on-the-job training through internships. During an internship, real estate agents learn about the real estate industry and the company they are working for. They also gain experience in the field by working with clients and agents.

Certifications & Licenses: Candidates are expected to pass a state licensing exam to become a Realtor. Each state has different requirements for the number of hours of experience and the type of education needed to get a license. Many states require that Realtor candidates pass the National Association of Realtor’s licensing exam.

Realtor Skills

Realtors need the following skills in order to be successful:

Communication: Realtors communicate with clients and other real estate agents throughout the home-buying process. They use verbal and written communication skills to explain contracts, answer questions and negotiate deals. They also use communication skills to communicate with other real estate agents and sellers to ensure the transaction goes smoothly.

Customer service: Realtors are customer service-oriented professionals who strive to meet the needs of their clients. They listen to their clients’ needs and expectations and work to find them a home that meets their standards. They also work to educate their clients about the home-buying process and help them understand the paperwork involved.

Marketing: Realtors use marketing skills to attract potential clients and sell properties. They create marketing materials, such as advertisements, flyers and social media posts, to inform the public about their services and properties. They also use marketing skills to attract buyers and sellers to their listings.

Negotiation: Negotiation is the process by which realtors help clients and sellers agree on a price for a property. Realtors may use negotiation skills to help clients find a home that fits their budget. They may also use negotiation skills to help sellers get the most money for their property.

Time management: Realtors often have multiple clients and appointments at any given time. Managing their time effectively can help realtors meet their clients’ needs and complete all of their tasks on time. This can help them maintain a positive reputation and build trust with their clients.

Realtor Work Environment

Realtors typically work 40 hours a week, but because their job involves showing properties and attending evening and weekend open houses, they often work more than 40 hours. Some realtors work for brokerages that offer flexible hours, which allows them to better balance their work and personal lives. Realtors must be licensed by the state in which they work and must complete continuing education courses to maintain their license. They must also be members of the National Association of Realtors and adhere to its code of ethics.

Realtor Trends

Here are three trends influencing how realtors work. Realtors will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Rise of the Digital Realtor

The rise of the digital realtor is a trend that is quickly changing the way that people buy and sell homes. With the help of technology, realtors are able to reach more potential buyers and sellers than ever before.

This trend is having a major impact on the real estate industry, as it is making it easier for people to buy and sell homes without the help of a realtor. As a result, realtors need to be well-versed in digital marketing techniques in order to stay competitive.

More Use of Technology in Real Estate

The use of technology in real estate is becoming increasingly popular as more and more agents realize the benefits of using tools such as virtual tours, video chat, and social media.

Real estate agents who are able to utilize these technologies will be better equipped to showcase their listings and connect with potential buyers. In addition, they will be able to stay up-to-date on the latest trends in the industry.

A Greater Focus on Customer Service

As customer service becomes more important in all industries, real estate professionals are beginning to focus on providing excellent customer service.

REALTORS® can capitalize on this trend by developing strong relationships with their clients and providing them with the information and support they need throughout the buying or selling process. In addition, REALTORS® can also provide excellent customer service by following up with clients after the sale has been completed to make sure that they are satisfied with the service they received.

How to Become a Realtor

Realtors have a lot of options when it comes to their career path. They can specialize in a certain type of real estate, such as residential or commercial sales, or they can choose to work with a specific group of clients, such as first-time buyers or seniors. Realtors can also move into management positions or become brokers.

No matter what direction they take, Realtors should stay up-to-date on the latest real estate trends and market conditions. They can do this by attending training courses, reading industry publications, and networking with other professionals.

Related: How to Write a Realtor Resume

Advancement Prospects

The most successful real estate agents are usually the ones who have been in the business the longest and have the most experience. They are also usually the ones who have the most knowledge about the local market. The best way to advance in this career is to get more experience and to learn as much as you can about the local market.

There are also some real estate agents who move up to become brokers. A broker is someone who owns a real estate agency. They are the ones who hire agents to work for them. To become a broker, you usually need to have a few years of experience as an agent and pass a broker’s exam.

Realtor Job Description Example

Are you passionate about helping people find their dream home? Do you have a strong understanding of the real estate market? If you answered yes to both of these questions, then we want to hear from you!

We’re looking for a realtor to join our team and help us provide an exceptional experience for our clients. As a realtor, you will be responsible for working with clients to understand their needs, showing them properties that fit their budget and criteria, and negotiating on their behalf to get them the best possible price. You will also be responsible for staying up-to-date on the real estate market and keeping abreast of new listings.

The ideal candidate for this position is a people person with strong communication and negotiation skills. If you have a passion for real estate and helping people, then we want you on our team!

Duties & Responsibilities

  • Understand the real estate market and keep up to date on trends
  • Educate clients on the buying/selling process, current market conditions, and property values in their desired area
  • Help clients identify their wants and needs in a property, and find homes that fit their criteria
  • Schedule and conduct showings of properties for sale with potential buyers
  • Negotiate purchase contracts on behalf of clients
  • Manage the escrow process and coordinate with all parties involved to ensure a smooth closing
  • Stay abreast of new laws and regulations affecting the real estate industry
  • Advertise properties online and through other channels
  • Hold open houses and broker’s tours to generate interest in properties
  • Attend networking events and build relationships with other real estate professionals
  • Maintain accurate records of all transactions
  • Provide exceptional customer service throughout the entire process

Required Skills and Qualifications

  • Bachelor’s degree in business, marketing, or related field
  • 2+ years experience in sales, customer service, or related industry
  • Proven track record of meeting and exceeding sales goals
  • Excellent communication, negotiation, and presentation skills
  • Self-motivated with strong time-management skills
  • Proficient in Microsoft Office and social media platforms

Preferred Skills and Qualifications

  • 4+ years experience in sales, customer service, or related industry
  • Experience working with a real estate broker or in the real estate industry
  • Real estate license
  • Familiarity with multiple listing services (MLS)
  • Working knowledge of Adobe Creative Suite

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