A real estate agent is a licensed professional who assists buyers and sellers in real estate transactions. They act as intermediaries, connecting buyers with suitable properties and helping sellers market and sell their properties. Real estate agents are knowledgeable about the local market, property values, and neighborhood information [1].
Here is a breakdown of what a real estate agent does:
- Provide expert knowledge of the area: Real estate agents have in-depth knowledge of property values, schools, and neighborhoods in their area. They can offer valuable insights and tips to help sellers price their homes correctly and assist buyers in finding properties that meet their criteria [2].
- Handle the heavy lifting: Real estate agents save clients time and effort by conducting property searches, scheduling showings, and organizing open houses. They have access to a wide range of listings through the multiple listing service (MLS) and can help buyers find properties within their price range and with desired features [2].
- Assist with the mortgage process: Whether you're buying or selling, a real estate agent can guide you through the mortgage process. They can connect you with reputable mortgage lenders, help you get preapproved for a loan, and work with listing agents to ensure potential buyers are preapproved [2].
- Guide negotiations: Real estate agents are skilled negotiators who can help clients navigate the negotiation process. They can advocate for their clients' interests, negotiate repairs or replacements based on inspection or appraisal findings, and strive to secure the best offer or deal [2].
To become a real estate agent, you need to follow these general steps:
- Check the requirements in your jurisdiction: Real estate licensing requirements vary by state or country. Research the specific requirements in your area to understand the necessary qualifications and prerequisites.
- Meet the eligibility criteria: Typically, you must be of a certain age and a legal resident of the jurisdiction where you plan to practice real estate.
- Complete pre-license education: Enroll in and successfully complete the required pre-license education courses. These courses cover topics such as real estate principles, practices, and laws.
- Pass the real estate exam: After completing the pre-license education, you must pass a real estate exam administered by the licensing authority in your jurisdiction.
- Activate your license: Once you pass the exam, you need to activate your real estate license by submitting an application and paying the required fees.
- Join a real estate brokerage: In most cases, real estate agents must work under the supervision of a licensed real estate broker. Joining a reputable brokerage will provide you with guidance, support, and access to resources.