Consumer Economics and Financial Services
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Career Analysis of Real Estate Agent
I will be conducting information about a Real Estate Agent. A real estate agent is one licensed expert that organizes real estate business transactions; bring together the purchasers and sellers and play the role of negotiation representative. Agents in real estate are mostly paid totally through a percentage commission of the assets buying price. Hence mainly, their earnings vary depending on the capability to seal a deal. In the majority of locations, a real estate agent needs to be associated with a real estate broker (a brokerage firm or a person) that may be certified to a higher degree or has more experience.
As the real estate agent career is my chosen one, there is some licensing or accreditations that are usually needed in the U.S. First; candidates have to pass the state real estate exams to fully complete a pre-license learning course which is usually differ depending on which state you are in and also someone has to be over the age of 18 years. About the state location, some states require about 65- 95 hours of college education on the basics of real estate. As for the residential real estate agents, they need to get certification called Accredited Buyer’s Representative (ABR) given through the Real Estate Buyer’s Agent Council of the National Association of REALTORS (REBAC). The second certification is the Accredited Seller Representative (ASR): given through the Accredited Seller Agency Council. As a commercial real estate agent, one needs to get Certified Property Manager (CPM): The CPM title is given through the Institute of Real Estate Management (IREM) and also the Accredited Residential Manager (ARM): IREM gives the ARM qualifications(Shaw, 2020 ).
For the career of a real estate agent, there are some skills required to be developed and learned. Some of them include communication skills, listening skills, honesty and integrity, good negotiation skills, patience, customer service, and marketing skills.
Reference
Benefield, J. D., Sirmans, C. S., & Sirmans, G. S. (2019). Observable agent effort and limits to innovation in residential real estate. Journal of Real Estate Research, 41(1), 1-36.
Shaw, J. (2020). Platform Real Estate: theory and practice of new urban real estate markets. Urban Geography, 41(8), 1037-1064.
