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Is a Career in Real Estate Right for You?
Real estate careers offer a lot of flexibility for agents in terms of working hours, and they also present the opportunity for unlimited earning from commissions. As personal success is directly dependent upon individual effort, entrepreneurs and other highly motivated workers take well to the field. For people between jobs, even if they don’t have any previous experience in the real estate industry, becoming a realtor may be a smart career choice as well.
A good deal of a realtor’s time will be spent working directly with clients, including showing and inspecting houses, helping to stage houses for sellers, preparing CMA reports, going over contracts and negotiations, and discussing the closing process. Properly preparing materials for client interactions may take up a good deal of time in itself. Agents are responsible for understanding the ups and downs of the market, often analyzing market updates on a daily basis. There is a lot of paperwork to process and keep track of as well. Finally, property listings must be studied, maintained, and serviced.
Skills for Working in Real Estate
Real estate agents are often in close contact with clients, so communication skills are an asset for this career, as are negotiation skills. A real estate agent must be well versed in local law regarding real estate transactions and should have a working knowledge of the local and national housing markets as they change. Above all, buyers and sellers prize honesty and responsiveness in the realtors they work with. Nothing is more frustrating or stressful than feeling cheated or ignored by someone handling an investment worth so much of your money, so these are needs that good real estate agents are sensitive to.
Obtaining a Real Estate License
To become a real estate agent in Pennsylvania, individuals must be at least 18, complete the coursework, and pass the licensure test. The two classes (Real Estate Fundamentals and Real Estate Practice at 30 hours each) cover terminology, theory, law, and the practical application of real estate transactions. The licensure test comprises 110-135 multiple-choice questions about general practice and Pennsylvania-specific law. To pass the exam, individuals must score at least 75%. The classes and exam each have their own fees. On average, it takes one to three months for qualified individuals to become licensed.
Interested? Find out how to kick start a career in real estate with Prudential Preferred Realty.