How to Become a Real Estate Agent: Earnings, Education, & Tips


A real estate agent is the intermediary link in the housing business between seller and buyer.

How do you become a real estate agent?

To become a real estate agent, you must study university courses in real estate, civil law, real estate law, tax law, economics, building technology and property valuation. You must also practice with a registered real estate agent for ten weeks.

Briefly about real estate agents

As a real estate agent, you are the link between seller and buyer in a home or real estate business. You are responsible for the entire sales process from control of ownership, to advertising, displaying and drawing up purchase contracts.

You are required to have knowledge of law, building technology, property valuation and finance. You should also act as an impartial advisor.

The most common employer is real estate companies, but banks, real estate companies and insurance companies also employ real estate agents.

In order to be registered as a real estate agent, the Real Estate Inspectorate has decided that you must have at least two years of study at university level.

What does a real estate agent earn?

Most real estate agents have only a commission-based income and this is especially common in the beginning of working life.

A broker normally has an annual income of $30,000 – 50,000. Only a few percent of brokers have an annual income of over $100,000.

Are there jobs for realtors?

Today, there is a lot of competition for jobs for new graduates, balance in the labor market for the experienced.

Education

To be able to be registered as a real estate agent with full registration, you must have at least a two-year college education and have done a 10-week internship.

The education must be in real estate brokerage, civil law, real estate law, tax law, economics, building technology and property valuation.

You can put together your own courses according to the Real Estate Inspectorate’s (FMI) requirements list or attend the Real Estate Program, which is available at several higher education institutions.

There are both two- and three-year college programs with a focus on real estate agents.

Can you study abroad?

Yes, some parts of the real estate education can be credited to you. It is the Real Estate Inspectorate that approves any. education, in addition to that conducted at colleges / universities as above.

Real estate assistant

The real estate assistant works as the registered broker’s right hand with, among other things, gathering facts, preparing information sheets, etc.

The real estate agent is the one who is ultimately responsible for the brokerage assignment but can thus, within the framework of the law, delegate tasks of a different nature to the estate assistant, provided that these are checked in individual steps.

To be a real estate agent

Life as a real estate agent means that you will see many different homes and homes and meet many different types of people.

No two days are alike.

You will constantly learn new things and be faced with new situations that you have to solve. All the time with customers in focus.

What does it take to become a good real estate agent?

If you want to be successful as a real estate agent, you should enjoy sales, but you must also be knowledgeable in many different areas – everything from law to construction technology and finance.

How do I become a registered real estate agent?

Studies for brokers are currently conducted through one of the country’s colleges or universities. You can read independent courses and put together your own education, but should then be careful not to read courses that overlap. It is important that you get grades in the courses required for registration as a real estate agent.

To fulfill their internship

To be registered as a real estate agent, you need to practice for 10 weeks under the guidance of another real estate agent.

You can choose to practice during your education or to do a cohesive internship after the education.

You choose whether you want to do all the internship at an agency or divide the internship at different agencies.

My tips

My recommendation is that during the internship you try to be with the broker during all the different parts of the brokerage assignment.

It is also important that you spend some time gaining insight into all the other activities that are going on at the real estate agency.

For example, what do the broker assistants do and in what way are they a support for the broker? What are the most common questions that come to the office? How does the customer register really work?

If you have a broad insight into the real estate agency’s work, you not only get a good understanding of what your role as a real estate agent will mean, you also gain insight into how the entire real estate company’s work is connected.

This is important for creating a successful brokerage business.

Be active as an intern. Tell the real estate agency that you are interested in participating in sales activities and also want to participate in meetings with customers.

A tip is also to find out from the beginning about the possibilities of letting the internship be transferred to an employment after registration.

Conclusion

Future prospects for real estate agents

The housing market is affected by the economy and interest rates, which in turn affects the demand for brokers. Today, many choose to train as brokers, which means that the competition for the jobs that exist is great.

But, for the right people, there are always jobs as brokers. But there is fierce competition for brokerage assignments and you have to prepare to work hard at the beginning of your career.

Therefore, it can be good to think through your choice of employer.

For example, if you choose a major player, it may be easier to get assignments you would not have received otherwise.

Sources

https://books.google.se/books?hl=en&lr=&id=na6XWc1cqzYC&oi=fnd&pg=PT5&dq=How+to+Become+a+Real+Estate+Agent&ots=j5Pk5eU8uk&sig=gPIh7E6qQIvc0MrnscZfUs3KqPY&redir_esc=y#v=onepage&q=How%20to%20Become%20a%20Real%20Estate%20Agent&f=false

https://www.tandfonline.com/doi/abs/10.1080/10835547.1995.12090769

https://books.google.se/books?hl=en&lr=&id=L-14DgAAQBAJ&oi=fnd&pg=PA3&dq=How+to+Become+a+Real+Estate+Agent&ots=pOAK0CfrO_&sig=T_wY_jTrSFjBtyhTtej865enN1A&redir_esc=y#v=onepage&q=How%20to%20Become%20a%20Real%20Estate%20Agent&f=false

https://meridian.allenpress.com/jhr/article-abstract/21/1/67/76543/The-Impact-of-Agent-Experience-on-the-Real-Estate?redirectedFrom=PDF

https://link.springer.com/chapter/10.1007/978-3-030-88435-2_5

https://www.emerald.com/insight/content/doi/10.1108/JEPP-07-2019-0063/full/html?utm_source=rss&utm_medium=feed&utm_campaign=rss_journalLatest

https://heinonline.org/HOL/LandingPage?handle=hein.journals/stexlr12&div=22&id=&page=

Kevin

This article has been reviewed by our editorial board and has been approved for publication in accordance with our editorial policies.

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