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 pay, 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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