A lot more people work in the real estate industry besides residential real estate agents. The sector encompasses a wide variety of roles that require different strengths and skills. Teams can include a number of different positions, from an administrative assistant to a real estate agency manager. Here is a look at some of the most pivotal positions that make up the real estate industry.
Residential Real Estate Agent
Although there are various real estate jobs, the most well-known is the residential real estate agent. The role involves interacting with clients, showing homes, and guiding clients through the purchase or sale process after closing a deal. In the US, all real estate agents must be properly licensed. To become licensed, agents must pass their state's real estate salesperson license exam. Some states require agents also to pass the next license level of broker. Real estate agents can make good money. In addition to an average yearly salary of around $100,000, the average real estate agent in the US makes $41,289 per year in commissions.
Real Estate Broker
Although many people use the terms real estate agent and real estate broker interchangeably, the two positions are not actually the same. The difference is a broker has taken the next level of licensing exam, which enables him or her to manage a real estate office with numerous agents.
Commercial Real Estate Agent
The term "real estate agent" has become synonymous with residential real estate agents. But there is, of course, another string to a real estate agent's bow: the commercial sector. Commercial real estate agents help businesses to choose and secure locations. That could include looking for lease properties or searching for land for a major chain store. Commercial real estate agents require some different skills than residential ones. For instance, they will spend more time researching statistics and data.
Residential or Commercial Appraiser
Every real estate team needs a residential appraiser. His or her role involves collecting information on specific residential properties to ascertain the properties' worth. Likewise, a commercial appraiser helps to determine the value of a building. But whereas a residential appraiser typically uses skills and knowledge he or she learned on the licensing course, commercial appraisers strongly lean on established appraisers to show them how to ascertain a property's value.
Residential Leasing Consultant
Real estate can be leased as well as sold, so that is where a leasing consultant comes in. The role involves making sure there are always tenants to occupy a building. Leasing consultants have strong marketing and negotiation skills and often go the extra mile by doing things like holding promotional events. They also keep up-to-date with all of the latest housing market situations and laws and regulations.
Commercial Leasing Manager
A commercial leasing manager negotiates property deals and transactions with businesses. He or she has an in-depth knowledge of the commercial marketplace and its potential impacts on the business needs of the company with which he or she is dealing.