| You
should probably consider a different career if you plan to
work real estate when you're in the mood, for an hour or two
a day or week, or only on days you're scheduled to answer
phones at the office.
Successful real estate agents are at the office every day,
just as they would be for any other full time job. They might
come and go as they work with buyer and seller leads, but
their office is their home base, the place where people who
want to buy and sell real estate find them.
Besides making sales, agents and brokers must have properties
to sell. Consequently, they spend a significant amount of
time obtaining listings—agreements by owners to place
properties for sale with the firm. When listing a property
for sale, agents and brokers compare the listed property with
similar properties that recently sold, in order to determine
a competitive market price for the property. Once the property
is sold, both the agent who sold it and the agent who obtained
the listing receive a portion of the commission. Thus, agents
who sell a property that they themselves have listed can increase
their commission.
Most real estate brokers and sales agents sell residential
property. A small number—usually employed in large or
specialized firms—sell commercial, industrial, agricultural,
or other types of real estate. Every specialty requires knowledge
of that particular type of property and clientele. Selling
or leasing business property requires an understanding of
leasing practices, business trends, and the location of the
property. Agents who sell or lease industrial properties must
know about the region’s transportation, utilities, and
labor supply. Whatever the type of property, the agent or
broker must know how to meet the client’s particular
requirements.
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