If you’ve ever thought about becoming a real estate agent, you might wonder: What does a real estate agent do…really?
The good news?
Being a real estate agent is an incredibly flexible career, so often, you get to choose what you do on any given day. In fact, according to the National Association of REALTORS®, 87% of their 1.5 million members work as independent contractors.
However, there are still a lot of essential tasks you’ll be working on regularly.
Whether you’re drawn to the excitement of the housing market or the idea of working independently, let’s dive into what being a real estate agent is all about—and help you figure out if this could be the right career path for you.
Key Takeaways
- Guiding Transactions: Real estate agents help clients buy, sell, or rent properties by managing everything from property searches and showings to negotiations and closings.
- Networking Is Essential: Agents build strong relationships with clients, brokers, attorneys, and other professionals to navigate the real estate process successfully.
- Market Expertise: Staying informed on property values, trends, and local neighborhoods is key to advising clients effectively.
- Dynamic Workdays: A typical day includes showing homes, drafting offers, negotiating deals, and marketing new listings—all while juggling a flexible schedule.
- Pros and Cons: While the career offers flexibility, variety, and high earning potential, it also comes with challenges like long hours, income unpredictability, and stiff competition.
Roles of a Real Estate Agent
At its core, a real estate agent helps people buy, sell, or rent properties. However, it’s a little more complicated than that. Real estate agents wear many hats, from marketing gurus to financial advisors to mediators. Here’s a breakdown of their primary responsibilities:
Guiding Clients Through Real Estate Transactions
Real estate agents guide home buyers and sellers through the process of buying and selling properties.
For buyers, real estate agents help with:
- Search for properties: Agents scour listings, from real estate websites to properties listed on Facebook, to find the best match for their clients’ needs and budgets.
- Schedule showings: From cozy open houses to private tours, agents walk their clients through properties to help them find their dream home or property.
- Negotiate offers: Agents advocate for their clients to get the best price on their new purchase.
- Navigate the closing process: They help manage paperwork, inspections, and all the steps leading up to the big transaction day.
For sellers, real estate agents do:
- List properties for sale: They work on pricing homes competitively by analyzing comparable properties.
- Market homes: Using tools like online listings, social media, and good old-fashioned networking, they make sure properties get maximum exposure.
- Vet potential buyers: Only some offers are good ones. Agents help sort serious buyers from time-wasters.
- Guide sellers through the selling process: From initial listing to final handshake, agents manage every detail of the home sale.
Networking and Building Relationships
A big part of being a real estate professional is building connections. Agents work closely with:
- Clients: Buyers, sellers, and sometimes renters.
- Other agents: Collaboration is key, especially in dual-agency situations where the real estate agent is representing both the buyer and the seller.
- Real estate brokers: Brokers oversee agents and provide additional training or resources.
- Lenders and attorneys: For tasks like mortgage approval and finalizing contracts.
Mastering the Market
Understanding property values, housing market trends, and local neighborhoods is critical. Successful agents are always staying up-to-date so they can advise clients with confidence.
A Day in the Life of a Real Estate Agent
No two days are the same for a real estate agent. One day, you might be helping a family find their dream home. The next day, you could be attending a trade association meeting or taking continuing education courses to keep your license current.
Here’s a snapshot of what a typical day might include:
- Morning: Checking emails, responding to potential buyers, and scheduling showings.
- Afternoon: Meeting clients to tour properties, attending home inspections, or hosting an open house.
- Evening: Drafting offers or purchase agreements, negotiating deals, and preparing marketing materials for new listings.
Work Environment
Real estate agents don’t sit at a desk all day. Instead, they’re often on the go:
- Visiting properties.
- Meeting clients in coffee shops or their homes.
- Hosting events like open houses.
- Working from home or a broker’s office.
While some agents stick to a 9-to-5 schedule, many work evenings and weekends to accommodate clients. Flexibility is key, but the trade-off is that agents can often set their own schedules.
Real Estate Agent Pros and Cons
Like any career, being a real estate agent has its ups and downs. Here’s a look at the pros and cons to help you decide if this career path is a good fit.
Pros
- Flexible Schedule: You can often set your own hours, making it great for those who value work-life balance.
- Unlimited Earning Potential: With commissions based on sales, your income can grow with your effort and success.
- Variety in Work: Every day is different, with new clients, properties, and challenges to tackle.
- Personal Fulfillment: Helping clients buy or sell homes can be incredibly rewarding.
- Opportunities for Growth: From specializing in luxury homes to earning a broker’s license, there are many ways to advance your career.
Cons
- Unpredictable Income: Commission-based pay means your earnings can vary, especially in slower markets.
- Long Hours: Evenings and weekends are often required to accommodate clients’ schedules.
- High Competition: The real estate industry can be competitive, requiring strong networking and marketing skills.
- Stressful Transactions: Dealing with deadlines, negotiations, and client expectations can take significant time and effort.
- Startup Costs: Getting licensed and marketing yourself can require a significant upfront investment.
Understanding these real estate career pros and cons can help you determine if the rewards of being an agent outweigh the challenges for your lifestyle and goals.
Real Estate Specializations
Real estate agents can focus on different areas based on their interests and expertise:
- Residential Real Estate: Helping clients buy, sell, or rent homes.
- Commercial Real Estate: Dealing with commercial property used for businesses, like offices or retail spaces.
- Luxury Real Estate: Specializing in high-value homes and upscale properties.
- Property Management: Overseeing rental properties for landlords.
- Real Estate Investing: Assisting clients with buying properties as investments rather than homes.
Specializations, like commercial or luxury real estate, offer higher earning potential due to larger transaction values and commissions.
Who Should Consider Becoming a Real Estate Agent?
Being a real estate agent isn’t for everyone. Here’s what makes a great agent:
- You love working with people. This career is all about building relationships.
- You’re organized and detail-oriented. Real estate transactions involve a ton of complicated paperwork and lots of deadlines.
- You’re self-motivated. Most agents work independently and need to stay on top of tasks without a boss checking in.
- You thrive on variety. If you dread the idea of doing the same thing every day, real estate could be perfect for you.
- You’re a social media whiz. Social media is optional for success, but it’s a huge boost if you have a strong grasp of social media marketing.
Is Real Estate Not Quite Right for You?
Real estate is a phenomenal career field, but it isn’t for everyone. If some elements of becoming a real estate agent appeal to you and others don’t, here are some alternatives worth considering.
- Are you not a strong people person, but you enjoy analyzing property values and market trends? Consider becoming a Certified Public Accountant (CPA), where you can focus on financial analysis and taxes without the need for constant client interaction.
- Are you not comfortable with negotiating deals, but you love the financial side of transactions? Consider becoming a Certified Management Accountant (CMA). This career lets you focus on managing budgets and business strategies without direct sales pressure.
- Are you not drawn to building personal relationships with clients, but are you fascinated by contracts and regulations? Consider becoming a real estate attorney, where you’ll handle the legal side of property transactions.
- Are you anxious about the unpredictability of sales but enjoy navigating complex financial systems? Consider becoming an Enrolled Agent (EA), where you’ll focus on tax laws and compliance, helping individuals and businesses manage their finances.
- Are you not into the hustle of finding buyers and sellers but enjoy analyzing investments and property performance? Consider becoming a Chartered Financial Analyst (CFA). This role focuses on evaluating markets and advising on investment strategies, including real estate portfolios.
Each of these paths has its own requirements, including licenses or exams, so be sure to research further if they sound appealing!
Conclusion
Being a real estate agent is about much more than just selling houses; it’s about building relationships, solving problems, and making dreams come true. If you love working with people, enjoy a flexible work environment, and are ready to dive into the fast-paced world of the real estate market, this career could be an amazing fit for you.
No matter where you land, taking the time to research and prepare will set you up for success. Ready to take the first step? Start by exploring licensing requirements in your state—and who knows?
FAQs
Real estate agents spend their days showing properties, meeting clients, negotiating offers, and handling paperwork. They also market homes, attend inspections, and stay updated on housing market trends to better serve prospective buyers and sellers.
Yes, most real estate agents earn a commission based on the final sale of a property. This means income potential can vary widely depending on the market and the number of deals closed. The more often you’re able to complete a real estate transaction, the more often you’ll get paid.
Becoming a real estate agent requires you to complete the necessary coursework, pass a licensing exam, and learn the ins and outs of all that is real estate. However, with motivation and proper preparation, it’s an achievable goal.
A real estate agent works under a broker’s supervision and focuses on helping clients buy or sell properties. A broker has additional training and licensing, allowing them to run their own brokerage and supervise other agents.
Both agent types are important, and often, both are represented in real estate deals. A buyer’s agent represents the buyer, helping them find properties and negotiate purchases. A seller’s agent represents the seller, focusing on marketing the property and securing the best price.
The cost of real estate courses isn’t high compared to prep courses in other industries. Plus, you can save more on them by using real estate discounts from top providers like The CE Shop, AceableAgent, and Colibri.
A real estate agent is licensed to help buy, sell, or rent properties. A Realtor is an agent who is a member of the National Association of Realtors and follows its Code of Ethics. All Realtors are real estate agents, but not all agents are Realtors.
