How to get into real estate, explained

The role of real estate agents, as we understand it today, has its roots in the late 19th and early 20th centuries, though property transactions and intermediaries existed much earlier in various forms. In the United States, the formalization of real estate as a profession began in the late 1800s when urbanization and industrialization increased the need for regulated property transactions.

Real estate agents became more prominent in the early 20th century as cities expanded, and the complexity of buying and selling property grew. In 1908, the National Association of Real Estate Exchanges (which would later become the National Association of Realtors or NAR) was established to promote ethical standards and formalize the real estate profession. This was a pivotal moment, as it helped create guidelines for professional conduct and transparency in transactions.

Throughout the 20th century, the role of real estate agents evolved further, with agents becoming crucial intermediaries between buyers and sellers. Real estate laws and licensing requirements were introduced in many countries, ensuring that agents were qualified to handle increasingly complicated property transactions. By the mid-1900s, real estate agents were indispensable in the housing market, providing services such as property listings, valuations, and contract negotiations.

Technological advancements in recent decades, such as the rise of the internet, have further transformed the role of real estate agents. Online platforms have made property listings and market data more accessible, but real estate agents still play a vital role in guiding buyers and sellers through legal and financial aspects of transactions.

In summary, while property intermediaries have existed in various forms for centuries, the modern real estate agent emerged in the late 19th and early 20th centuries, with the profession becoming formalized and regulated in the 1900s.

What makes a good real estate agent?

A good real estate agent possesses a mix of skills, knowledge, and personal qualities that help them excel in guiding clients through property transactions. At the core of a successful agent is a deep understanding of the local real estate market, including property values, market trends, and neighborhoods. They should be skilled negotiators, capable of getting the best possible deal for their clients, whether buying or selling.

Communication is another key trait. A good agent keeps their clients informed at every step, explaining complex legal or financial terms clearly and ensuring that expectations are managed realistically. This also includes being responsive, as real estate deals can move quickly, and timing is often crucial.

Professionalism and ethical conduct are essential for building trust with clients. Agents who adhere to industry standards and treat clients with honesty and integrity will earn a good reputation, leading to referrals and repeat business. Moreover, patience and empathy are vital, as buying or selling a home can be a stressful process for clients. Understanding their needs and offering support during tough decisions can set great agents apart.

In addition to these traits, a successful real estate agent also needs to be proactive in marketing properties and finding opportunities. This often means leveraging technology to list properties online, network with other agents, and use data to offer insights to clients. Adaptability and continuous learning also play a role in staying current with new regulations, technologies, and market shifts.

Ultimately, a good real estate agent is a knowledgeable, communicative, ethical professional who prioritizes their clients’ needs and delivers excellent service throughout the transaction process.

How to get into real estate

Getting into real estate typically begins with obtaining a real estate license, which involves fulfilling your state’s education requirements, often by completing a set number of hours in a real estate pre-licensing course. These courses cover the fundamentals of property law, contracts, finance, and real estate practices. After completing the coursework, the next step is to pass a state licensing exam, which tests your knowledge of both state-specific and national real estate laws and principles.

Once you’ve passed the exam and obtained your license, you’ll likely need to find a brokerage to work under, as most states require new agents to work with an established broker for their first few years. This allows you to gain practical experience while having the support and mentorship of more experienced professionals. At this point, building a client base is crucial, which often involves networking, attending industry events, and leveraging personal and professional contacts.

Marketing yourself through social media, online platforms, and traditional methods is key to gaining visibility in your local market. Successful agents also continue to educate themselves, staying current on market trends, local regulations, and technological tools that can enhance their service. Developing strong relationships with clients, other agents, and industry professionals is essential for long-term success in real estate, as referrals and word-of-mouth recommendations can be powerful tools for growth.