Career Profile: Real Estate Sales Agents

Salary and Outlook

According to the US Department of Labor, there are 438,900 people employed as real estate sales agents in the United States. The median annual salary is $48,340. Entry level employees earn approximately $28,270 per year and senior employees earn approximately $102,170 per year.

Estimates do not include other potential benefits such as health insurance, overtime, or retirement benefits that may be offered by employers.

Job Duties

• Appraise properties to determine loan values.
• Contact utility companies for service hookups to clients' property.
• Coordinate property closings, overseeing signing of documents and disbursement of funds.
• Interview clients to determine what kinds of properties they are seeking.
• Contact previous clients for prospecting of referral business.
• Review property listings, trade journals, and relevant literature, and attend conventions, seminars, and staff and association meetings, to remain knowledgeable about real estate markets.
• Answer clients' questions regarding construction work, financing, maintenance, repairs, and appraisals.
• Coordinate appointments to show homes to prospective buyers.
• Contact property owners and advertise services to solicit property sales listings.
• Advise sellers on how to make homes more appealing to potential buyers.
• Advise clients on market conditions, prices, mortgages, legal requirements, and related matters.
• Display commercial, industrial, agricultural, and residential properties to clients and explain their features.
• Accompany buyers during visits to and inspections of property, advising them on the suitability and value of the homes they are visiting.
• Arrange for title searches to determine whether clients have clear property titles.
• Develop networks of attorneys, mortgage lenders, and contractors to whom clients may be referred.
• Review plans for new construction with clients, enumerating and recommending available options and features.
• Inspect condition of premises, and arrange for necessary maintenance or notify owners of maintenance needs.
• Visit properties to assess them before showing them to clients.
• Investigate clients' financial and credit status to determine eligibility for financing.
• Evaluate mortgage options to help clients obtain financing at the best prevailing rates and terms.
• Prepare documents such as representation contracts, purchase agreements, closing statements, deeds, and leases.
• Present purchase offers to sellers for consideration.
• Act as an intermediary in negotiations between buyers and sellers, generally representing one or the other.
• Generate lists of properties that are compatible with buyers' needs and financial resources.
• Confer with escrow companies, lenders, home inspectors, and pest control operators to ensure that terms and conditions of purchase agreements are met before closing dates.
• Promote sales of properties through advertisements, open houses, and participation in multiple listing services.
• Compare a property with similar properties that have recently sold to determine its competitive market price.
• Solicit and compile listings of available rental properties.
• Conduct seminars and training sessions for sales agents to improve sales techniques.
• Arrange meetings between buyers and sellers when details of transactions need to be negotiated.
• Rent or lease properties on behalf of clients.
• Secure construction or purchase financing with own firm or mortgage company.
• Locate and appraise undeveloped areas for building sites, based on evaluations of area market conditions.

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