A License For Real Estate Agents Are Governed By The Department Of Regulation And Licensing

“Real estate is a year-round opportunity to help countless people realize the American dream” (“Why Real Estate”, 2012). Eighty-five percent of buyers believe that home purchases are good financial investments, and a majority of homebuyers and sellers rely on the services and expertise of real estate professionals to assist them with their transactions (Profile of Home Buyers and Sellers, 2010). “The primary job description for an agent is communicating with potential clients to determine what kind of property they are looking for” (Richard, 2012). This means, setting up interviews with clients to see if the agents firm possesses property that meets the client’s specific needs. Once it is apparent exactly what the client is looking for, the agent sets appointments to show houses to clients and many times the agent physically accompanies couples while showing off properties.

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If you make a mistake when it comes to real estate, you could lose out on a lot of money when you're not being careful. Investing in your own training is the best thing that you can do to protect yourself.

Before my research I thought that I already knew what it took to have a career in the business world. I found that there are many objectives that I have to overcome before starting my career. By doing my research, I have came to the conclusion that owning a business is not for me. I have found a new love for real estate and everything it has to offer, career wise. A real estate agent would be the perfect job for me. An agent’s main responsibility is to help a client in the process of buying, selling, renting, or leasing a piece of real estate.

I worked for the Kings County Board of Realtors before going back to school from 2007 till 2014, I feel I had a front row seat to what transpired. The market soared in the early 2000’s because loans were given out like candy to people that really couldn’t afford it and didn’t understand what they were signing up for when their rates would change and their houses were being ripped out from under them. I watched as houses were taken from families left setting empty for several months creating eye soars in the community. Other problems arose as well, pools left stagnant creating pest issues, break-ins by drug uses to collect cooper wiring and appliances. Bailouts by the government that were designed to help people keep their homes were being used by banks after the house sat in ruin for several months. One of the main problems I saw was the people that were creating the problem were also in charge of the solutions which is bad business. They were able to bail themselves out but it left families without homes.

While nothing is perfect, I think regulatory agencies are both necessary and good in creating balance in a growing and changing society. For the most part, regulatory agencies are good because they protect the public from unfair business practices, discrimination, and to ensure safety practices amount many other things. For example, the U.S Equal Opportunity Commission regulates and ensures businesses comply with federal laws that make it illegal to discriminate.

In order to do this job I have to get a state licensing is required in all states and the District of Columbia. A college degree isn’t required to become a real estate agent. Most states only require a high school diploma or an equivalency certificate. You have to take a 2 week class to be able to take the state test because you have to learn about the material on the state test. “Some formal on-the-job or classroom training is necessary to become a real estate agent. Upon satisfactory completion of the training program, candidates can apply to their state's licensing board for a

Licensure is when a person has shown competency in a field of study and has earned the right to become licensed in that line of work. For example when a person wants to become a Physicians Assistant they will take an exam at the conclusion of their higher education to become certified. If they pass their exam they will have earned the right to be a certified (or licensed) physician assistant and be rewarded with the credentials, PA-C (Physician Assistant-Certified) and will be allowed to work in a medical setting under this title.

Brokers: In most states, the requirement to be a broker was the same as that to be a loan officer, except the tie was mandatory. Where I live in Georgia, the Department of Banking and Finance had accepted an application to be a broker from an individual whose previous job was working the counter at Arby’s. The Georgia DBF required only that individuals take a one week course in Federal and State regulations, and then s/he could apply for a Broker’s License. Brokers not only deal directly with perspective buyers; they hire other loan officers to do so. For a responsibility of this proportion, these individuals should be required to have an advanced degree (Master’s or higher) from an accredited university in a relevant field. They should also be required to pass a test on the federal level. Finally, with the exorbitant compensation tied to selling mortgages, brokers should bear some long term responsibility

Real estate agents are generally independent sales employees who provide their services to licensed brokers on a contract basis.

The duties and responsibilities of a real estate agents consist of helping people buy, sell, and rent properties. They show property to potential homeowner and network to locate future buyers and sellers. “They bring together buyers and owners and negotiate the terms of real estate contracts such as deeds, leases, and mortgages with buyers, sellers, and renters of properties” (EUREKA). They also make appraisals, which is when a real estate agent assesses the true value of a property. To become a real estate agent, one must be licensed by the department of real estate which requires three semester units of college-level course in real estate principles, plus one additional specified real estate course prior to taking the examination (EUREKA). Some real estate positions require training in vocational schools, related on-the-job experience, or an associate's degree. Related majors for this occupation consist of economics, business management, general business courses, as well as marketing and sales. California’s salary varies and depends on location, sales expertise, if workers work full-time, and the size of commision they get. Commissions of the total sales price are the usual source of income for real estate agents, which means their monthly income depends on how well they perform. Unfortunately, earnings for a real estate agent can be irregular at first. California's salary starts low around $2,849 per month, then the average $5,079 per month, and rises to as high pay at $6,117 and up per month (EUREKA). National pay consists of entry or low pay at $1,795 per month, average $4,627 per month, and highest at $8,771 and up per month (EUREKA). Personal characteristics For a real estate agent are being personable, ability to influence, being patient,and learning to adapt to one's surroundings. Skills consist of active listening which means “[g]iving full attention to what other

This paper will seek to provide an overview of the real estate process and its affects on the real estate agent. An agent needs to be knowledgable about the steps required to make a sale, and the risks involved when the sale does not go as planned. Real estate sales require much of the agent, including sacrifices in their personal lives and in their financial stability. Agents must be teachable and willing to seek to see others succeed. A successful real estate sale consists of many steps, sacrifices to personal time, and an agent’s ability to work well with others while remaining incredibly flexible.

The authors used all constructs of the theory through pre- and post-survey questionnaires for subjects studied that went through the training course. Through the pre-survey they were able to determine what realtors prior perceptions on lead and whether or not they understood its implications and any of the background information relating to lead prior to taking the course. After completion of the course, in six months, they were followed up with surveys and phone calls to determine how effective the course was. The realtors enrolled in the study were volunteers and were provided with a $200 financial incentive. The behavior researchers sought was to see if the realtors put into action what they learned and whether or not they were able to inform potential clients about the homes they were selling. An increase in realtor awareness is seen through the feedback they provided therefore it reveals to have sustained a continuous behavioral change in the thought process of selling a home to potential buyers. The authors did not clearly define the theories they used. Instead they stated using quantitative and qualitative measures and also described their methodology in detail.

The rationale behind the Real Property Appraiser Qualification Criteria, as stated by the Appraisal Foundation includes the facts that applicants with Bachelor’s degrees or higher perform better on the National Uniform Licensing and Certification Exam than do those with Associate degrees or high school diplomas. Additionally, the Appraisal Foundation is of the opinion that appraisers who possess Bachelor’s degrees would have a better grasp of the many factors influencing the real estate industry as a whole. Although the new education requirements may indeed enhance public trust of the real estate appraisal profession, they are also discouraging anyone that wishes to enter the profession. The true effects of the Real Property

Insurance agents and brokers must obtain a license in the states where they plan to sell insurance. By law, licenses are issued only to applicants who complete specified courses and then pass written examinations covering insurance fundamentals and insurance laws (Edwards, 1999, A13). Agents who plan to sell mutual funds and other securities must also obtain a separate securities license (Edwards, 1999, A13). Most states also have mandatory education requirements focusing on insurance laws, consumer protection, and the technical details of various insurance policies (Vault.com, 1999). The Degree requirements include Certification from the National Association of Securities Dealers or the Securities and Exchange Commission (Vault.com, 1999).