Can you make good money as a professional real estate agent?
According to a report by National Association of Realtors, in the last year, the average salary for Real Estate sales reps in Arizona is $48K. However, this really depends on experience level, location or property type.
There are many reasons why we can say that real estate professional in Arizona make good money. One of the reasons for this is that houses are in high demand and there simply isn't enough for everyone. With many people struggling to find a place, there are more agents than listings here in Arizona. Some are doing really well!
How does a real estate agent get paid?
A real estate agent gets paid on the commission that they earn for the sale of a property. The commission amount is determined by the company they work with, but it's more than likely between 3% and 6%.
How does a person become a real estate agent?
Basically, you need to attend an Arizona real estate school classes for 40 hours plus an ethics class. Go through the necessary training. Then you'll have to pass the state exam with a qualifying score of 75%. Once you've done that, it's time to take the federal real estate exam. Once the federal test is passed you can start looking for a Broker, and a local association.
What is the difference between a realtor® and a real estate agent?
Some people may think that a realtor® is synonymous to a real estate agent. This is because they are often used interchangeably in some contexts. However, there are a few differences between the two that set them apart from each other.
Real estate agents are licensed professionals who work with sellers and buyers of real estate.
A Realtor® often has more training in the industry and has more knowledge about the process. This may make them better suited for negotiating, paperwork, etc. To become a Realtor®, which is the trademark of a trusted real estate agent—you'll have to first take your state test and then join your local real estate association.
As an active member of the National Association of Realtors®, you abide by NAR’s standards & ethics and holds real estate professionals at a higher standard.
Also being a member of NAR gives that Realtor®
5 Ways to get paid as a Real Estate Agent
Commission-based pay - This is probably the most well-known way that real estate agents get paid.. As a Real Estate Agent, you'll be able to enjoy the benefit of commission-based pay if you sell or lease homes.
Professional Real Estate Transaction Coordinator TC., The job of a transaction coordinator is an integral one, and it a very important job in real estate industry. They can help with information gathering, customer service, and negotiation. Great organizational skills and social skills are important for this role, as well as good communication. These are the qualities you'll need to build relationships at work and ensure everything runs smoothly.
The job of a BPO Agent: is to value real estate, for banks and loan servicers. Apart from preparing detailed reports on products, the company also evaluates them. These reports are then used to establish prices for court cases, loan transactions and settlements. The reports they generate are also used by financial institutions to determine how much they should charge for loans on those items and what collateral they should ask for. BPO Agents must be able to have an extensive knowledge of valuation techniques as well as experience in order to produce accurate reports.
Sell time Shares: There are some restrictions on who can sell a timeshare. In Arizona, only professional licensed real estate agents, and real estate brokers are able to advertise or sell timeshare properties.
Sell Grave Sites: Arizona requires that anyone who sells gravesites have a real estate license. This includes sites for cremated or buried remains.
Commercial real estate sales agents in Arizona are in high demand. The state is currently experiencing a booming economy and the job outlook for this occupation is expected to grow by 12% by 2026, which is higher than the average for all occupations. Selling vacant commercial buildings and land is no easy task. As a commercial real estate sales agent, you're responsible for advertising new opportunities to clients, presenting the various aspects of an investment opportunity and negotiating on a client's behalf.
Would you like to know more about the career opportunities we have to offer? Contact Scott at Scott@scottschulte.com