A real estate broker is a person who is to be approached if you are in search of good property worth buying, a house for living, a shop for business, or simply land for building a farmhouse. He is a professional who has important details and information about most of the real estate in his locality and even other locations. Availing the services of real estate brokers is the best alternative to avoid the hassles of meeting prospective sellers personally, real estate negotiation, and going through all the legal real estate transfer formalities and paperwork. Let us understand in brief about the real estate agent job description.
Real Estate Broker Job Description
The primary responsibility of a real estate broker is to serve as a liaison between a prospective property buyer and the seller of the real estate. He has to keep an eye on the deals that are being done in the field of real estate in his area. He has to maintain a detailed record of the current rates of the properties which have the potential to attract substantial demand from buyers.
A real estate agent has to guide his buying client to find out appropriate property according to the client’s preferences and requirements. He also has to discuss with the client the future benefits of a particular real estate investment and ownership. He is required to show the real estate to the prospective buyer, and explain all the characteristics of the property.
He not only deals with buying and selling of properties, but also with renting and leasing them out to clients. He has to be well versed with the state’s zoning regulations, tax requirements, and other things related to property management. After the deal is fixed, he has to recommend financing alternatives to the buyers. Now let us move on to real estate agent salary.
Real Estate Broker Salary Range
The average salary of a real estate broker depends on factors such as the employment setting, location, and most importantly the commission for the deals finalized. Real estate brokers are mostly self-employed, have their own offices, and run their businesses by themselves. On the other hand, some might be employed in a real estate company or a private firm. It has been recorded that the real estate broker salary is high in case of self-employed professionals as compared to those employed in companies. The salary range of self-employed realtors is $39,000 to $117,000 per annum, whereas those working for companies and firms may draw an annual pay of around $35,000 to $73,000.
Freshers in home selling and home buying business may receive an annual pay of approximately $24,000 to $50,000, and those with one to four years of experience can receive an annual pay of about $30,000 to $60,000. So, as you get to know the tactics and operations in property management, your pay scale will increase accordingly. Another factor is the commission, which is totally based on the deals you finalize. The more you get business, the more you will receive commission or brokerage. In a time of real estate demand, the commission can even take your annual salary up to $100,000. Read more on income for real estate agents.
This was a simple explanation of the real estate broker salary and job description. A career as a real estate broker can be quite remunerative in good financial times, but you may have to face difficulties in times when the demand for property is low.
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