Step by step guide to becoming a realtor

A realtor, real estate broker, or real estate agent is a person who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.

A real estate broker typically receives a payment called a commission for successfully matching a seller’s real estate with a buyer such that a sale can be made. This commission can be divided up with other participating real estate brokers or agents when applicable.

Crucially, in the U.S. each state has their own laws defining the types of relationships that can exist between clients and real estate professionals and those relationships, such as brokerage and agency, can vary markedly.

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What does a realtor do?

There are a number of administrative tasks that are at the core of a well-run real estate business. A good realtor / real estate agent:

Keeps up with local and regional market activity and industry news
Researches active, pending, and sold listings and reviews the daily MLS Hot Sheet or Activity Report
Completes, submits, and files paperwork, such as real estate documents, agreements, and records with the proper state agencies
Plans and coordinates appointments, open houses, showings, and meetings with clients and other real estate agents
Develops marketing plans for listings and creates fliers, newsletters, and other promotional collateral
Responds to incoming emails and phone calls
Update websites, social media profiles, and blogs

Many successful real estate agents have an assistant or office manager to assist with the day-to-day activities, allowing the salesperson or broker to focus on more direct revenue-generating activities.

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What kind of skills are required?

The role of the realtor changes slightly depending upon the type of real estate market is dominant at the time. Following are some skills that make a realtor successful irrespective of what type of market is dominant.

Active Listening – Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

Persuasion – Persuading others to change their minds or behavior.

Social Perceptiveness – Being aware of others’ reactions and understanding why they react as they do.

Coordination – Adjusting actions in relation to others’ actions.

Critical Thinking – Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.

Sales and Marketing – Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.

Customer and Personal Service – Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

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