How to build a career in Real estate
Real estate is a term describing a piece of land, including the air above it and the ground below it, and any buildings or structures on it. Real estate can include business and/or residential properties, and are generally sold either by a realtor or directly by the individual who owns the property (for sale by owner).
An individual interested in exploring a career in real estate, must be able to know the difference between a real estate broker and a real estate sales agent, because this it is one of the two that an individual will become as someone that is interested in the real estate business.
Brokers and agents do the same type of work, but brokers are licensed to manage their own real estate businesses. Agents must work with a broker. They usually provide their services to a licensed real estate broker on a contract basis. In return, the broker pays the agent a portion of the commission earned from the agent's sale of the property. Brokers, as independent businesspeople, often sell real estate owned by others; they also may rent or manage properties for a fee. While it is possible for a real estate broker to represent the buyer by signing a special agreement, most work exclusively with sellers.What you should know and do to be a successful Real estate Broker or Agent
Becoming a Real estate Broker or sales agent is challenging and you have to show an exceptional level of knowledge of the real estate market within your community so as to compete favorably within the industry.
These are some of the things I recommend you should know and do.
You should have a thorough knowledge of the real estate market in your communities. This should include knowing within your neibourhood, the people that need your service, also their needs and budget.
You should be familiar with your local zoning and tax laws, and also know where to obtain financing for the purchase of properties.
You should be able to properly verify ownership when selling property, also you should be a good negotiator between a buyer and a seller, because you will be involve in arranging financing from a lender for the prospective buyer, which may make the difference between success and failure in closing a sale.
You should be able to spend a considerable amount of time looking for properties to buy or sell, also able to determine a competitive price for any listed property.
You must be ready to work more than the standard 40 Ã¢â‚¬â€œhour week if situation calls for, this is a type of work that your working hours is most of the time irregular and involves weekends.
You should know that it is your responsibility to ensure that all terms of the contract are met before the closing date, also be able to meet client requirement and any given circumstance.
Qualification and Training
A Real estate broker or sales agent in most countries should be a high school graduate, must be at least 18 years of age, and pass a written test administered by the state. Most importantly must also be licensed.
In some cases Real estate career requirements are based on the agencies involved and what their minimum qualifications may be. In most cases, the minimum requirement is a real estate license, even for those who do not want to be full-service agents.
Other qualifications include personality traits which are as important as academic background. Brokers look for agents who have a pleasant personality and a neat appearance. They must be at least 18 years old. Maturity, good judgment, trustworthiness, honesty, and enthusiasm for the job are required to attract prospective customers in this highly competitive field. Agents should be well organized, be detail oriented, and have a good memory for names, faces, and business particulars. A good knowledge of the local area and its neighborhoods is a clear advantage.
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