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How do real estate agents get paid?
Real Estate is the kind of job where you get out what you put in. Paid in commission, agents aren't don't get a check until their job is done. Showing a house is done in faith that someday a house will be purchased with their help. Usually paid as a percentage, the commission typically comes from the seller and is divided between the listing agent and the selling agent. Working in the business means building relationships and trust with clients to get them to the end goal, whether it's selling their house or buying their dream home.
Are real estate agents open on weekends?
You make your hours, and they will most likely include weekends. Weekends are when most homebuyers are available to check out homes, whether they're looking online or walking through houses. Either way more leads come in for agents on the weekends from those looking online and current clients looking to schedule home tours. It is possible to take days off or work part-time, but you may hurt clients by doing so.
Are real estate agents self-employed?
Yes. As an agent, you are an independent contractor working for the client. The office or brand is a support system, but not your employer. You are backed by the brand, but you work for yourself and your clients. Each real estate office is unique in how they support you. If you're looking into a career, you may want to shop around and find out what each office offers its agents to make the best decision for your life.
Do real estate agents make a lot of money?
Of course, with any commission position, there is potential. Because real estate is not a steady income, you really get out what you put into it. If you work to build relationships, market well, and prioritize your client's best interest, you'll likely have a reliable flow of deals closing. How do you make more? Your location (lakeside, rural, urban, etc) impact the sale price as well as the quality of the property. The sale price is directly impacting your income when you work off of percentage.
Do real estate agents work full-time?
In short, yes. Many agents have another source for regular income and work real estate for larger, but inconsistent, income. The fluctuating housing market means aggressive self-budgeting or alternative income to supplement potential lulls. Each agent may balance their career(s) differently, with some working full time at another job while filling in with real estate and others the opposite. Working in real estate takes dedication, but the effort put in is rewarded.
Do real estate agents have an education?
Yes. There are required courses before you can even take the test to get your license. Every state may have different educational requirements, but they can typically be finished in a year or less. Most courses can be taken either in person or online. Continued education is also required to keep agents up-to-date on changing laws, requirements, and guidelines.
What license do real estate agents have?
Each US State has its own real estate license. You can get a license in multiple states, ideal for border areas or frequent traveling agents, but they all have separate tests and potentially different educational requirements. If you're looking to get licensed in Ohio, here is a guide to the process.
How do real estate agents value homes?
Agents use comparison, the current market trend, location, size, and condition to come up with the value of a home. By comparing nearby and similar homes that have recently sold, you can gauge the demand for a home and the typical price per square foot in that area. Doing the research allows you to give the client accurate information and the probability of selling their home for a particular price.
How long does it take to become a real estate agent?
Depending on your schedule and the time you can commit, you can obtain a real estate license in as little as 2-3 months. More realistically, the process of taking classes, getting sponsored, and taking the test is about 6 months to a year. If you don't have a lot of free time, you do have a ten-year window from start to finish to still qualify to take the license test.
Is it hard to become a real estate agent?
It's not easy, but very rewarding. You have to put in the effort to get educated, pass the test for your State License, and then put in the work to be an agent. Being a real estate agent can give you opportunities to travel, get into investing, learn additional trades like auctioning, and much more.
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