Highlights
Real estate agents, also known as sales agents and brokers, facilitate or negotiate the sale or purchase of any property, most frequently a home. An agent is usually the person managing a specific deal; a broker is usually the person running a firm that hires the agent. "Realtor" is the common name for an agent, although it is actually the formal title for a member of the National Association of Realtors, a trade organization that requires adherence to a code of ethics. The law does not require buyers and sellers hire an agent and a recent trend is a deal handled primarily between the two parties.
Because transactions are often complicated, every state requires agents and brokers be...
Because transactions are often complicated, every state requires agents and brokers be...
Real estate agents, also known as sales agents and brokers, facilitate or negotiate the sale or purchase of any property, most frequently a home. An agent is usually the person managing a specific deal; a broker is usually the person running a firm that hires the agent. "Realtor" is the common name for an agent, although it is actually the formal title for a member of the National Association of Realtors, a trade organization that requires adherence to a code of ethics. The law does not require buyers and sellers hire an agent and a recent trend is a deal handled primarily between the two parties.
Because transactions are often complicated, every state requires agents and brokers be licensed. They must be high school graduates and pass a written test on basic transactions and laws. Most states require classroom instruction, training and, for some advanced positions, some experience selling property. Licenses usually must be renewed every few years and some states require continuing education credits to remain licensed. Agents can work for a buyer or the property owner. They usually are self-employed people providing services as a contractor to a broker's firm. They locate houses to be sold, advertise the property, locate buyers, match buyers to properties that fit their needs, negotiate a price, prepare the paperwork, arrange financing and numerous other tasks. In 2004, the U.S. Bureau of Labor Statistics estimated about 460,000 people worked in the industry. Many worked part time, combining their real estate activities with other careers, because two sales can be days or months apart. The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004. Commissions on sales are the main source of earnings, usually a percentage of the sale price. The money is usually split between the agent who listed the property and agent who made the sale to a buyer. The U.S. Bureau of Labor Statistics warns that getting a job is easy, but competition is stiff from experienced agents and is dependent on the volatile swings of the housing market. The job has been made easier in recent decades because of computerization, which allows potential buyers to screen out scores of possible homes with online virtual tours.
Because transactions are often complicated, every state requires agents and brokers be licensed. They must be high school graduates and pass a written test on basic transactions and laws. Most states require classroom instruction, training and, for some advanced positions, some experience selling property. Licenses usually must be renewed every few years and some states require continuing education credits to remain licensed. Agents can work for a buyer or the property owner. They usually are self-employed people providing services as a contractor to a broker's firm. They locate houses to be sold, advertise the property, locate buyers, match buyers to properties that fit their needs, negotiate a price, prepare the paperwork, arrange financing and numerous other tasks. In 2004, the U.S. Bureau of Labor Statistics estimated about 460,000 people worked in the industry. Many worked part time, combining their real estate activities with other careers, because two sales can be days or months apart. The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004. Commissions on sales are the main source of earnings, usually a percentage of the sale price. The money is usually split between the agent who listed the property and agent who made the sale to a buyer. The U.S. Bureau of Labor Statistics warns that getting a job is easy, but competition is stiff from experienced agents and is dependent on the volatile swings of the housing market. The job has been made easier in recent decades because of computerization, which allows potential buyers to screen out scores of possible homes with online virtual tours.
Displaying items 1-12 of 1225
» View Sun-Sentinel.com items only
1
2
3
4
5
6
7
8
9
10
11-20
•
Next >
-
Scores line up to land census jobs
Tribune reporterSurrounded by about 20 other anxious job seekers in an eerily quiet room in the Schaumburg library, Anita Sauter took a test this week that she hopes will lead to a high paying, temporary gig as a census taker. Sauter, who has lived on unemployment...Tags: Population, Hoffman Estates, Unemployment, Barack Obama, Public Finance
-
'Not Easily Broken' stars Morris Chestnut, Taraji P. Henson
Tribune criticBishop T.D. Jakes, head of a megachurch in Dallas, has a wife, five kids, 30,000 flock members and a long line of books to his name, among them "Mama Made the Difference: Life Lessons My Mother Taught Me." He wrote the novel "Not Easily Broken" with...Tags: Health Treatments, Morris Chestnut, Chestnuts, Bill Duke, Therapies
-
First Drive: 2010 Lexus RX350 and RX450h
Autoblog.comFiled under: Hybrids/Alternative, Crossovers/CUVs, Lexus, First Drive Click above for a high-res image gallery of the 2010 Lexus RX350 and RX450h Few vehicles have done more to establish a genre and define a brand as much as the Lexus RX. Introduced... -
A good Road to take
J.P. Taravella HighThe 1950s is an era remembered for freshly-cut lawns, gray business suits and happy-go-lucky families who all had a "swell" time. But Revolutionary Road claims otherwise as it explores the complex relationship between two unconventional people who...Tags: Kathy Bates, Kate Winslet, Film Festivals, Leonardo DiCaprio, Cinema Industry
-
Hired helper admits bashing NYC punk rock pioneer
ADDS background on Stein's celebrity clients, her killing. NEW YORK (AP) _ Prosecutors showed for the first time Thursday a videotape in which punk rock pioneer Linda Stein's personal assistant admits beating her to death with an exercise stick. Stein...Tags: Billy Joel, Justice System, Lawyers, Sting, Manhattan (New York City)
-
Floridians in Congress
Floridians in Congress House: 15 Republicans, 10 Democrats Senate: 1 Republican and 1 Democrat New members: Tom Rooney, 38, R-Tequesta Occupation: Lawyer Background: Former Army lawyer; assistant attorney general under...Tags: Tim Mahoney, Ric Keller, Justice System, Charlie Crist, Lawyers
-
Shelters brace for homeless families
Tribune reportersCindy Almendarez avoided the homeless shelter for as long as possible, shuffling her children from a friend's basement to a roach-infested apartment before bunking down in the back seat of her car, where, for nearly two weeks, they tried to pretend they...Tags: Chicago Public Schools, Chicago Mortgages, Financial and Business Services, Social Services, Wheaton
-
REO: Three letters every buyer today needs to know
What is an REO?
REO stands for "real estate owned" property. If a foreclosed property is not purchased at auction, it is typically bought back by the lender. Although the lender is often a bank (the reason why REOs are frequently called "bank...Tags: Real Estate, Property, Auction Service, Foreclosures
-
Help still wanted
In the nearly three months since Luke Walker was laid off from his job as a radio DJ, he's taken the GMAT and the LSAT, applied to several grad schools, networked through every social media tool imaginable and sent out countless resumes that seem to...Tags: Medical Services, Colleges and Universities, Schools, Facebook, LinkedIn Corp.
-
Vick wants to sell Georgia home at auction
Associated PressMichael Vick is asking a bankruptcy judge to allow him to sell his eight-bedroom home in the Atlanta suburb of Duluth at auction. The house has been on the market for more than a year and is listed at $4.1 million. The imprisoned former NFL star...Tags: Newport News (Newport News, Virginia), Michael Vick, Auction Service, Bankruptcy, Real Estate Buyers
-
Vick seeks bankruptcy court's permission to auction Ga. home after price drop, year on market
Associated Press WriterRICHMOND, Va. (AP) — After more than a year on the market and a $400,000 price reduction, Michael Vick's eight-bedroom home in the Atlanta area will go on the auction block if a bankruptcy judge agrees to the move. The imprisoned former NFL star...Tags: Internal Revenue Service, Justice System, Homes, Financially Distressed Companies, Michael Vick
-
Managing deer populations during hunting season
jennifer.smith@newsday.comOn a recent Sunday, a steady trickle of mud-spattered vehicles pulled in and out of parking spots for hunters using state-owned woodlands at nearby Rocky Point and Otis Pike Preserve in Calverton. The nearby Ridge check station is part hunter hangout,...Tags: Population, Nature, Foods and Beverages, Wildlife, Mike Clark
Jan 8, 2009
|Story| Chicago Tribune
Jan 8, 2009
|Story| Chicago Tribune
Jan 8, 2009
|Blog| Autoblog.com
Jan 8, 2009
|Story| South Florida Sun-Sentinel
Jan 8, 2009
|Story| Associated Press
Jan 7, 2009
|Story| South Florida Sun-Sentinel
Jan 7, 2009
|Story| Chicago Tribune
Jan 7, 2009
|Story| Orlando Sentinel
Jan 7, 2009
|Story| RedEye
Jan 6, 2009
|Story| Hampton Roads Daily Press
Jan 6, 2009
|Story| Associated Press
Jan 4, 2009
|Story| Newsday
