Real Estate Agents Description OES Code: 43008 Rent, buy, and sell property to clients. Perform duties such as studying property listings, interviewing prospective clients, accompanying clients to property site, discussing conditions of sale, and drawing up real estate contracts. CA Wages/hour median range New, no experience: $9.59 minimum – $14.38 New, experienced: $11.99 $6.39 – $28.77 3 yrs+ experience: $18.38 $8.52 – $28.77 Real Estate Agents are usually paid on a straight commission basis determined by agreement between the broker and the agent. Earnings will vary widely among agents because of the geographic area in which they work and the amount of time and energy put into the job. Beginning agents with good sales ability can expect to earn from $10,000 to $50,000 and above, per year. Experienced agents can expect to earn between $20,000 and $150,000; even higher earnings are possible in some coastal areas and in labor markets with a strong potential for new industry and jobs. However, income is never consistent and must be budgeted to allow for wide variations in time and amount of earnings. Agents' reputation for integrity and service will be the key determining factor in their success. Local Wages • CCOIS Survey • OES Survey Hours & Benefits Normal work-weeks are 40 to 48 hours. A few agents work on a part time basis while they learn the business, or to provide a second income source. There is no set pattern for hours of work or number of working days per week. Agents can expect to work on weekends and evenings to accommodate the diverse needs of their customers. Fringe benefits are relatively meager since most agents are independent contractors. Vacations are usually not compensated and are normally taken during slack periods. Employment Trends Employment 1996 9,420 Projected Employment 2006 10,740 Growth Rate 1996-2006 14% Openings due to Separations 1,620 Employment Trends by California County The growth-rate for this occupation is projected to be on a par with all other occupations during the next ten years. Job prospects for agents are expected to improve through increased residential sales and income-investment properties, especially apartment houses, single-to four-unit dwellings, and commercial buildings. Advancement Becoming a real estate broker is the typical career path for Real Estate Agents. Many of them join the National Association of Realtors as associate members. Agents may also advance to the positions of sales, training, operations, and office manager. Some Real Estate Agents advance to real estate appraiser positions by taking the required course work offered at many community colleges and universities. Getting the Job & Other Information Real Estate Agents may establish contact with brokers prior to the examination to gain visibility in the industry. Often positions will be available when candidates obtain their license. Real estate brokers advertise openings in newspapers and circulate job listings through other broker agencies. They frequently list jobs with schools that give real estate training. For current job listings, browse CalJOBS or America's Job Bank. References Note: The references below (and/or on other parts of this page) will link to pages on the internet outside the Career Video system. California Occupational Guide: Real Estate Agents #90 Related Occupation: Right of Way Agents #226, Real Estate Appraisers #228 Training: California State Training Inventory

Click arrow at bottom left of image to begin. Requires QuickTime Education and Training Real Estate Agents must be licensed by the California Department of Real Estate. All applicants for the license must be at least 18 years old and must pass an examination administered by the California Department of Real Estate. There is also an educational requirement for a real estate license, which consists of a college-level course in real estate principles plus two additional courses approved by the Department of Real Estate. (Typically, these courses are in general accounting or economics.) Applicants who have completed only the real estate principles coursework may qualify for a provisional license through the examination process, but must complete the other two courses within 18 months of license issuance. An examination fee of $30 is charged, and the cost for licensing and fingerprinting is $202. The license is renewable every four years at a cost of $170. The areas covered by the examination are: knowledge of English, arithmetical computation common to real estate practices, real estate and business transactions, and the obligations and ethics of real estate transactions. To prepare for the sales agent license examination, candidates may take real estate courses in community colleges and private real estate schools. There are now Board approved correspondence courses, some featuring video taped training sessions. These programs are especially helpful to new agents who must complete course requirements while working hours that may conflict with traditional classroom training. Many brokers now express a preference for agents whose background includes some college. Many employers have classroom and continuing in-house training for both beginning and experienced agents. Skills & Other Requirements Skills ranked high by surveyed brokers are: effective verbal and written communication, professional telephone and in-person sales technique, ability to read and follow instructions, ability to read forms quickly and prepare/arrange sales contracts, ability to work independently, and a knowledge of sales techniques. Skills ranked moderately high are: familiarity with property lease negotiations, knowledge of residential sales processes, familiarity with conventional and government loans, knowledge of escrow and title functions, knowledge of business math, and knowledge of basic computer operations. Real Estate Agents must perform several tasks to complete transactions. They help buyers find the appropriate property that meets their needs and financial resources. They obtain property listings and make preliminary estimates to determine the selling price of the property. To anticipate prospective buyers' questions, agents must be thoroughly familiar with the physical condition, features, and special characteristics of the property as well as the availability of transportation, schools, and shopping. Once a buyer is found, Real Estate Agents prepare a purchase agreement. They may refer clients to lawyers and tax consultants to resolve legal and tax issues that may arise in sales transactions. Agents work with title or escrow companies, lenders, home inspectors, and pest control operators until the transaction is completed. Agents use personal computers routinely to identify properties that match customers' specifications, and to obtain lists of potential properties. A few real estate brokerage firms now use a computerized loan processing system -- real estate application contract transmission (REACT). This system allows agents to qualify the buyer electronically and approve a mortgage within an hour, pending verification of data provided and an appraisal. By using this computerized system, agents expect to significantly reduce the time usually required to sell homes to qualified buyers. © State of California EDD/LMID, US Department of Labor Unless indicated otherwise, wage data is based on Statewide aggregated CCOIS survey responses between 1995 and 1997. Questions or Comments? Contact us.