So you’ve decided you want to start a career in real estate and need to determine the right path. Choosing your career path is one of the most important decisions you have to make in life so make sure you do your research before jumping into anything. The past decade was a roller coaster ride of madness for home prices with record highs followed by bottoming out lows throughout most of the country. Things have finally started to stabilize and more people are looking to real estate once again as a safe way to make a living. If you’re curious about starting a real estate career, here’s a little crash course on the difference between brokers and agents – find out which position is right for you.
The Difference Between A Real Estate Agent, Broker and Salesperson:
Real Estate Agent (Salesperson). The terms real estate agent and real estate salesperson are one in the same. Real estate agents are licensed salespersons who work for real estate brokers. Real estate agents are trained to help someone find a new home, sell a home or rent a property. According to the Bureau of Labor Statistics Real Estate Agents made an average wage of $19.71 an hour in 2014. But the ceiling can be limitless depending on how good the agent is – the top 10% of agents pulled in an average of over $50.00/hr in the field.
Real Estate Broker. Real Estate Brokers are their own bosses. So if this is something that you strive for, working your way up to becoming a broker could be the right path for you. Brokers can also have real estate agents working for them as well, so having good people and management skills is a huge plus if you are going to succeed as a real estate broker. According to the Bureau of Labor Statistics, Real Estate Brokers made an hourly wage of $27.58 in 2014. The highest 10% of wage earners made over $85.00 an hour. So needless to say, brokers that are good at what they do make a comfortable living. And with the real estate industry starting an uptrend, now is as good as time as any to get in on the action.
How To Become A Real Estate Broker Or Sales Agent
Back in the day you would have to attend a brick and mortar class at a local community college or real estate school to get your license. Today, you can just take all your pre-exam coursework online to prepare for the state exam! All states require you to take a certain number of hours before you can take the exam, so being able to fulfill this requirement online has become a great resource for prospective real estate agents and brokers. Furthermore, brokers have a new education requirement which calls for them to have a college degree. To find out what your exact state education requirements are, talk to your state agency for complete details.
There are a lot of schools out there that offer real estate courses online and in-class, make sure they are state approved and accredited before signing up for any classes. The great part about Allied Real Estate School, is that it is an accredited online real estate school. Speak to an admissions representative for more information on becoming a real estate salesperson or broker. Get started TODAY by calling (800) 617-3513.
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-17 Edition, Real Estate Brokers and Sales Agents,
on the Internet at http://www.bls.gov/ooh/sales/real-estate-brokers-and-sales-agents.htm (visited March 02, 2016).