How to become a real estate agent

Real estate agents help people with buying, selling, or leasing homes, buildings, and land. They are the experts who make sure that their clients’ best interests are protected in these big-money contracts and deals. They provide counsel to help people make the right decisions.

Real estate agents are hired by people and companies to help them find and purchase or lease property, or get the best price selling or leasing property they own. These transactions can be complex and a lot of money changes hands, so the real estate agent is hired to make sure everything is handled correctly and according to the law.

Residential real estate agents specialize in working with homes and homeowners, while commercial real estate agents deal with office space and business-use buildings. An agent can represent the buyer, the seller, or both. They present offers and counter-offers from buyer to seller, and vice-versa.

Agents are expected to know what the real estate market is doing so they can negotiate the best price for their client. They also need to be familiar with the paperwork involved in transferring property from seller to buyer, and knowledgeable about issues such as mortgages and financing. Real estate agents’ annual salaries are based on the commissions they earn when properties sell.

Real estate agents are usually self-employed, but by law must work in conjunction with a broker. (Some real estate agents choose to become brokers themselves after they have acquired enough education or experience.) Both real estate agents and brokers must pass a state or provincial exam, and hold a current valid license.

Real estate agents have busy but flexible schedules, and will often work evenings or weekends. As a real estate agent you will do some or all of the following:

• Meet with buyers or sellers to assess their needs;
• Monitor the market for new properties for sale;
• Show real estate to buyers or sellers;
• Advertise your listed properties for sale;
• Draft formal offers to purchase real estate;
• Present offers and counter-offers to sellers and buyers;
• Negotiate transactions;
• Market your services to new clients;
• Assist buyers and sellers with paperwork and financing.

You may have heard the terms "real estate agent" and "Realtor" used interchangeably, but they are not the same thing. Realtor (capital R) is a trademarked term indicating that the individual agent is a member of the National Association of Realtors (NAR).