Real Estate Agents and Brokers
Overview
Introduction
Real estate brokers are licensed to manage their own real estate businesses and sell, rent, or manage the property of others. Real estate agents are salespeople who are either self-employed or hired by brokers. Sometimes, the term agent is applied to both real estate brokers and agents. There are approximately 465,500 real estate agents and real estate brokers employed in the United States. They may also be called real estate buyer’s agents and brokers.
Quick Facts
Median Salary
Employment Prospects
Minimum Education Level
Experience
Skills
Personality Traits
Earnings
Compensation in the real estate field is based largely upon commission. Agents usually split commissions with the brokers who employ them, in return for providing the office space, advertising support, sales supervision, and the use of the broker's good name. When two or more agents are involved in a transaction (for example, one agent listing the property for sale and another selling it), the ...
Work Environment
One glance at the property advertisements in any newspaper will offer a picture of the high degree of competition found within the field of real estate. In addition to full-time workers, the existence of many part-time agents increases competition.
Beginning agents must accept the frustration inherent in the early months in the business. Earnings are often irregular before a new agent ha...
Outlook
The country's expanding population also creates additional demand for real estate services. A trend toward mobility, usually among Americans in their prime working years, indicates a continued need for real estate professionals. In addition, a higher percentage of affluence among this working group indicates that more Americans will be able to own their own homes.
An increase in agents' ...
