Scouting opportunities, connecting buyers and sellers, and making real property transactions happen Real estate agents and brokers facilitate the sale or leasing of real property. Brokers and agents usually specialize in either retail, office, residential, industrial, or land; however, their responsibilities are the same across property type. Sales agents must work underneath the license of a managing broker. Brokers manage the firm, recruit new agents, determine the marketing budget for the office, the listings carried by the firm, and the activities of the sales agents. Sales agents often are independent contractors working for straight commission, which can range from 1% up to 7%, and are split between the buyer's agent and the seller's agent. Depending on the industry, brokers and agents' responsibilities can range from obtaining the property listing, marketing the property, showing the property, negotiating with buyers or sellers, helping to arrange financing for the client, preparing contracts, organizing the closing, and increasingly expected to financially model opportunities for their clients.
|Role / Company||Location||Posted|
|Junior Commercial Real Estate AgentCorcoran Icon Properties||San Mateo, CA||May 3, 2023|
Looking to the future
Brokers and sales agent's income levels are inherently tied to the volatility of the real estate markets. In slow markets, an agent may have to work twice as hard to make the same income they made when the market was good. As transaction activity picks up so too will broker’s commission-based income. Technological advances in market research have greatly increased the level of sophistication and training required to be a successful broker or agent. In order to attract clients, real estate agents will have to be able to provide a greater level of in-depth market research and a higher level of financial analysis on properties. This will be especially true in non-residential sales, where agents will be asked to effectively negotiate complicated deals. Even in weak markets, real estate will continue to be bought and sold, and the services provided by brokers and agents will be required. Sales and brokerage will continue to be a good point of entry into the real estate industry, but only the agents with the necessary financial and technological skills, along with superior customer service, will be truly successful in the ever competitive market of buying and selling real estate.