The Master Multitaskers: What Do Realtors Really Do?
If you've ever watched HGTV’s House Hunters, you might think real estate is a breeze. A couple tours three homes, makes an offer, and just like that, they have a new place. But in reality, real estate is far from simple. It demands late nights, weekends, holidays, and an unyielding work ethic. So, what do realtors actually do? Let’s dive in!
What Does a Realtor Do?
On the surface, the job seems straightforward. According to Amy Lessinger, president of RE/MAX, realtors have three main tasks:
Find a buyer to serve.
Find a seller to serve.
Work on closing those transactions.
If you don’t have any business, your sole focus should be finding business. Lessinger emphasizes the importance of prospecting and marketing activities. Realtors need to be active in their communities, making their services known, and constantly searching for new opportunities.
Learning the Ropes
For new agents, the learning curve can be steep. While real estate school provides a foundation, hands-on training is crucial. A brokerage that offers transaction coordination support can be a lifesaver, guiding new agents through the complex process of closing deals.
Real Estate Agent vs. Realtor
Though the terms are often used interchangeably, there is a difference. All realtors are real estate agents, but not all agents are realtors. To become a realtor, an agent must join the local association of the National Association of Realtors (NAR), which involves additional dues and adhering to a strict code of ethics.
Real Estate Agent vs. Broker
A broker is an agent who has taken additional education and passed an exam to manage their own firm and oversee other agents. Becoming a broker is a common next step for agents looking to advance their careers and build a business.
Common Skills Among Successful Realtors
Regardless of their title, successful real estate professionals share certain skills:
Communication: Constant interaction with clients, other agents, and various stakeholders.
Organization: Managing multiple appointments, documents, and deadlines.
Social Savvy: Engaging conversations and effective use of social media.
Numerical Aptitude: Understanding market values, pricing strategies, and commission structures.
How to Learn More About Real Estate
Want to know more? Reach out to local agents or realtors and ask for their insights. Many are happy to share their experiences and may even let you shadow them for a day. Real estate is a dynamic field where success is defined by your personal goals, whether it's selling a few homes a year or becoming the top agent in your market.
Pro Tip
Consider getting licensed in multiple states if you live near state borders. Many states offer full or partial license reciprocity, broadening your potential market.
Real estate could be a rewarding part of your career journey. If it piques your interest, dive in and explore the possibilities!
Frequently Asked Questions
What is a buyer’s agent?
Represents the buyer during a transaction and shares the commission with the seller’s agent.
What is a seller’s agent?
Represents the seller and shares the commission with the buyer’s agent.
What is a dual agent?
Represents both the buyer and seller in a transaction.