Working as a real estate agent can be both interesting and lucrative, depending on your local housing market. Have you ever wondered about what it would be like to work in real estate? Do you have questions about what realtors do and how they make money? Here are answers to some common questions about working in the real estate field.
How Do I Get a Real Estate License?
Successful realtors like Steven Taylor Los Angeles know that prospective real estate agents must take a pre-licensing course. The number of training hours often varies by state, so check your local requirements before signing up. This type, of course, will teach you the essential things you need to know in order to be successful in the real estate business, such as best practices and legal principles. Upon completion of the licensing course, future real estate agents take a licensing exam. This exam typically consists of questions about general real estate information, federal law and state law. Once you have passed the test, you should activate your license through your state and pay any necessary fees. At this time, you should also sign up for multiple listing services or MLS, which will allow you to view and list properties.
What Do Real Estate Agents Do?
Real estate agents like Steven Taylor LA arrange real estate transactions between buyers and sellers of property. While realtors are allowed to represent both buyers and sellers, they do not typically do so on a transaction involving the same property. They help buyers find homes that they would like to purchase and assist sellers with listing their homes for sale. Realtors help their clients navigate the real estate process using their expertise and knowledge of the market. They may fill out paperwork, facilitate communication between their client and other parties, accompany their client to view an available property, help their client decide on a listing price if they are selling their home and provide information about the housing market.
How Do Real Estate Agents Make Money?
Real estate agents work “on commission.” This means that they are paid a percentage of the purchase price of the property. If a property sells for a large amount of money, the commission can be sizeable. The buyer of a property generally pays this amount as part of their closing costs. In some circumstances, a seller may agree to pay a portion of the commission.