A real estate agent, real estate broker or realtor is someone who represents buyers or sellers of real estate property. While an agent may work alone, most often an agent is employed by a licensed real estate brokerage to represent multiple clients in a transaction. Often an agent has many years of experience representing both buyers and sellers and can act as a mediator between them for negotiation purposes. Most agents receive continual training to stay current on the current real estate market trends.
To determine the median income for real estate sales agents, you must first determine the average annual income for other licensed brokers. The Bureau of Labor Statistics does this by dividing the number of licensed brokers in a state by the state's average annual income. This number, minus one for the state that does not have licensing fees, is the percentage of sales performed by real estate agents who earn more than the average annual income for licensed brokers. Once you have determined the national average annual income for licensed real estate brokers you can compare it with the national average of the amount earned by real estate brokers in your area. The national rate is then compared with the national rate for real estate agents. Be sure to check it out!
If you want to find out the median income of real estate brokers in your area, you must determine the licensing exams required to become a real estate broker in your state. In most states there are two tests required. One is the Real Estate Settlement Examination and the second is the Professional Property appraisals or the appraiser bond exam. These exams differ from state to state, so it is best to contact your local board of licensing to find out exactly which test you will be required to take. Once you have determined which test you will be taking, you can research the information about the requirements for each exam. While these requirements vary from state to state, they are typically very similar. Be sure to read more here!
Once you know what the test requires, you can begin researching the actual requirements for becoming a real estate agent in your state. You should contact your local board of licensing and find out exactly which courses are required for agents. You will likely be required to take courses such as real estate law, real estate terminology, and contract principles. You will also be required to take courses in real estate marketing, management, accounting principles, and understanding of banking products. Many states require agents to pass an examination before becoming licensed.
Many states require real estate agents to attend seminars and workshops in order to keep abreast of industry trends and to learn how to best serve their clients. Seminars and workshops are often sponsored by national and local associations dedicated to realtors. Seminars and workshops can introduce you to important industry professionals such as realtors who work on a national level, regional realtors, and local government officials.
Every state has a real estate agents' trade association. These associations help realtors to promote and develop their local markets. Because the rates of home buying and selling decline nationally, many states are especially anxious to attract qualified agents to their communities. If you would like to become a realtor, there is no better time than the present to begin the application process. For more facts about real estate, visit this website at http://www.ehow.com/personal-finance/real-estate/