How to Be Real Estate Salesperson - Job Description, Skills, and Interview Questions

May 23, 2022 / 6 Minutes Read / By Albert

How to Become

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Cause: The increase in the demand for real estate Effect: This has led to a rise in the need for real estate salespersons, who are responsible for helping individuals and companies purchase and sell properties. They must be knowledgeable about the local real estate market, have strong negotiation skills, and be able to handle the paperwork involved in the process. Additionally, to be successful, real estate salespersons must have excellent communication skills, be organized and have a good understanding of the legal aspects of real estate transactions.

Steps How to Become

Research the Requirements. The first step to becoming a real estate salesperson is to research the requirements and regulations in your state. Each state has different licensing requirements and you will need to complete the necessary steps to become licensed.
Take an Approved Course. Most states require that you take an approved pre-licensing course before you can get your license. You can find these courses online or in person, depending on your state.
Pass the State Exam. Once you have completed your pre-licensing course, you will need to take and pass the state exam. Most states require that you pass this exam before you can become licensed.
Apply for Your License. After you have passed the state exam, you will need to apply for your license with the state or local real estate commission.
Maintain Your License. After you have obtained your license, you will need to keep it up-to-date by completing continuing education courses, as required by your state. You may also need to renew your license periodically.
Find Work. Now that you have obtained your license, you can begin looking for work as a real estate salesperson. You can start by networking with other agents in your area or working with a brokerage.

In order to stay updated and efficient in real estate sales, it is important to have a good understanding of the current market trends, be knowledgeable about real estate laws, and keep up with technological advancements. Knowing the current market trends enables an individual to properly assess the value of a property and to make informed decisions on potential investments. having a strong grasp of real estate laws ensures that transactions are handled legally and ethically.

Lastly, keeping up with advancements in technology can help streamline the sales process and help agents increase their productivity and profitability. by staying informed about market trends, understanding real estate laws, and staying abreast of technological advances, real estate salespeople can increase their effectiveness and stay ahead of their competition.

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Job Description

Prepare sales presentations and contracts for potential buyers
Identify appropriate properties for buyers by researching the local real estate market
Negotiate purchase contracts on behalf of buyers
Provide advice and guidance to buyers throughout the home buying process
Manage sales transactions from start to finish
Develop and maintain relationships with clients
Utilize a variety of marketing strategies to promote real estate listings
Attend open houses and showings to showcase properties
Monitor local market conditions and trends to stay informed of real estate opportunities
Educate buyers on legal and financial aspects of purchasing a property

Skills and Competencies to Have

Knowledge of local real estate laws and regulations
Familiarity with real estate listing systems and databases
Ability to negotiate and close deals
Excellent customer service and communication skills
Proficiency in using computers and software programs
Strong organizational and time management skills
Attention to detail and accuracy
Ability to work independently and as part of a team
Ability to work under pressure and meet deadlines
Knowledge of the local community, including housing trends, market values, and amenities

Having the right skills as a real estate salesperson is essential for success. Communication, interpersonal and problem solving abilities are some of the most important skills to possess. Good communication skills are essential in order to effectively communicate with clients, negotiate contracts, and build relationships with industry professionals.

Interpersonal skills are necessary for understanding the needs and wants of clients, and for being able to establish trust. Problem solving abilities allow salespeople to find creative solutions to any issues that arise during the process of buying or selling real estate. Furthermore, having a deep knowledge about the local markets, and staying up-to-date with the latest trends and changes in the industry are also key factors to success in this field.

By having these skills, real estate salespeople can increase their chances of success and remain competitive in the industry.

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Frequent Interview Questions

What experience do you have in real estate sales?
Describe a successful sale you recently closed.
How do you go about finding new clients?
How do you stay up to date on industry trends and regulations?
What strategies do you use to maintain client relationships?
What do you believe are the most important skills for a successful real estate salesperson?
How do you handle difficult clients?
How do you keep your motivation level high?
Describe an experience when you faced a challenging situation and how you overcame it.
How do you use technology to increase your efficiency in real estate sales?

Common Tools in Industry

CRM (Customer Relationship Management). A software that helps store and organize customer data, such as contact information, communication and sales records. (eg: Salesforce)
MLS (Multiple Listing Service). A database of properties that is used by real estate agents to search for available properties. (eg: Realtor. com)
Transaction Management Software. A software that automates the process of managing and tracking sales transactions, from offer to close. (eg: Dotloop)
Social Media Platforms. Platforms used to post content, interact with customers, and build relationships. (eg: Facebook, Twitter, Instagram)
Advertising Platforms. Platforms used to create and manage advertisements, such as ads on Google or in newspapers. (eg: Google AdWords)
Image Editing Software. Software used to edit images for marketing purposes, such as creating property flyers. (eg: Adobe Photoshop)
Property Management Software. Software used to manage tenants and rental properties. (eg: AppFolio Property Manager)
Real Estate Valuation Tools. Tools used to estimate a propertys value, such as Zillow Zestimates. (eg: Zillow Zestimates)
Mobile Apps. Mobile applications used to access customer data and stay organized on the go. (eg: Realtor. com Mobile App)
Market Research Tools. Tools used to research and analyze market trends, such as housing prices in a certain area. (eg: Redfin Insights)

Professional Organizations to Know

National Association of Realtors (NAR)
Real Estate Buyers Agent Council (REBAC)
Council of Residential Specialists (CRS)
National Association of Exclusive Buyer Agents (NAEBA)
International Real Estate Federation (FIABCI)
National Association of Hispanic Real Estate Professionals (NAHREP)
American Society of Home Inspectors (ASHI)
Real Estate Negotiation Institute (RENI)
Real Estate Standards Organization (RESO)
Real Estate Educators Association (REEA)

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Common Important Terms

Real Estate Broker. A real estate broker is a licensed professional who helps buyers and sellers complete real estate transactions.
Listing Agent. A real estate agent who represents the seller in a real estate transaction and is responsible for marketing the property and negotiating the sale.
Buyer's Agent. A real estate agent who represents the buyer in a real estate transaction and is responsible for locating and negotiating the purchase of a property.
Multiple Listing Service (MLS). A database of properties for sale or rent that is managed by a local real estate board or association and shared among its members.
Offers and Counteroffers. Formal offers and counteroffers used to negotiate the terms of a real estate transaction.
Escrow. The process of setting aside money or documents used to complete a real estate transaction, such as a deposit and closing costs.
Earnest Money Deposit. A sum of money placed in escrow by the buyer as a commitment to purchase a property.
Closing Costs. Fees paid by the buyer and seller at the time of the closing of a real estate transaction, such as loan origination fees, title insurance, and recording fees.

Frequently Asked Questions

What is the legal definition of a real estate salesperson?

A real estate salesperson is an individual who holds a valid real estate license and acts on behalf of a licensed real estate broker in order to offer and negotiate real estate transactions for the brokers clients.

What qualifications do I need to become a real estate salesperson?

To become a real estate salesperson, you must complete a certain number of hours of pre-licensing education and pass the state licensing exam. In addition, you must be sponsored by a licensed real estate broker and complete any additional requirements set forth by your state's licensing agency.

What type of duties do real estate salespersons typically perform?

Real estate salespersons typically perform duties such as showing properties, listing properties for sale, negotiating contracts, preparing paperwork, marketing properties, and providing advice to buyers and sellers.

How much commission do real estate salespersons typically receive?

Real estate salespersons typically receive commissions based on the sales price of the property they are working on. Most states require that commissions be divided equally between the broker and the salesperson.

What type of training do real estate salespersons receive?

Real estate salespersons receive both pre-licensing training, which is required in order to obtain a license, and ongoing professional development training in order to stay up to date on the latest laws and regulations. Additionally, many brokers provide their salespersons with additional training in order to help them become successful in their field.