Highlights
Real estate agents, also known as sales agents and brokers, facilitate or negotiate the sale or purchase of any property, most frequently a home. An agent is usually the person managing a specific deal; a broker is usually the person running a firm that hires the agent. "Realtor" is the common name for an agent, although it is actually the formal title for a member of the National Association of Realtors, a trade organization that requires adherence to a code of ethics. The law does not require buyers and sellers hire an agent and a recent trend is a deal handled primarily between the two parties.
Because transactions are often complicated, every state requires agents and brokers be...
Because transactions are often complicated, every state requires agents and brokers be...
Real estate agents, also known as sales agents and brokers, facilitate or negotiate the sale or purchase of any property, most frequently a home. An agent is usually the person managing a specific deal; a broker is usually the person running a firm that hires the agent. "Realtor" is the common name for an agent, although it is actually the formal title for a member of the National Association of Realtors, a trade organization that requires adherence to a code of ethics. The law does not require buyers and sellers hire an agent and a recent trend is a deal handled primarily between the two parties.
Because transactions are often complicated, every state requires agents and brokers be licensed. They must be high school graduates and pass a written test on basic transactions and laws. Most states require classroom instruction, training and, for some advanced positions, some experience selling property. Licenses usually must be renewed every few years and some states require continuing education credits to remain licensed. Agents can work for a buyer or the property owner. They usually are self-employed people providing services as a contractor to a broker's firm. They locate houses to be sold, advertise the property, locate buyers, match buyers to properties that fit their needs, negotiate a price, prepare the paperwork, arrange financing and numerous other tasks. In 2004, the U.S. Bureau of Labor Statistics estimated about 460,000 people worked in the industry. Many worked part time, combining their real estate activities with other careers, because two sales can be days or months apart. The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004. Commissions on sales are the main source of earnings, usually a percentage of the sale price. The money is usually split between the agent who listed the property and agent who made the sale to a buyer. The U.S. Bureau of Labor Statistics warns that getting a job is easy, but competition is stiff from experienced agents and is dependent on the volatile swings of the housing market. The job has been made easier in recent decades because of computerization, which allows potential buyers to screen out scores of possible homes with online virtual tours.
Because transactions are often complicated, every state requires agents and brokers be licensed. They must be high school graduates and pass a written test on basic transactions and laws. Most states require classroom instruction, training and, for some advanced positions, some experience selling property. Licenses usually must be renewed every few years and some states require continuing education credits to remain licensed. Agents can work for a buyer or the property owner. They usually are self-employed people providing services as a contractor to a broker's firm. They locate houses to be sold, advertise the property, locate buyers, match buyers to properties that fit their needs, negotiate a price, prepare the paperwork, arrange financing and numerous other tasks. In 2004, the U.S. Bureau of Labor Statistics estimated about 460,000 people worked in the industry. Many worked part time, combining their real estate activities with other careers, because two sales can be days or months apart. The median annual earnings of salaried real estate sales agents, including commissions, were $35,670 in May 2004. Commissions on sales are the main source of earnings, usually a percentage of the sale price. The money is usually split between the agent who listed the property and agent who made the sale to a buyer. The U.S. Bureau of Labor Statistics warns that getting a job is easy, but competition is stiff from experienced agents and is dependent on the volatile swings of the housing market. The job has been made easier in recent decades because of computerization, which allows potential buyers to screen out scores of possible homes with online virtual tours.
Displaying items 1-12 of 1275
» View dailypilot.com items only
1
2
3
4
5
6
7
8
9
10
11-107
•
Next >
-
CdM attorney is accused of fraud
A federal grand jury has accused a Corona del Mar attorney of being part of a mortgage fraud ring that inflated home prices to get larger home loans and pocket the money. Gerald Lawrence Wolfe, 41, a former licensed real estate broker, was indicted...Tags: Corporate Crime, Crimes, Homes, Prosecution, Justice System
-
Police know identity of mummified body
COSTA MESA — Costa Mesa police on Friday identified the homeless Fountain Valley woman whose dead body was driven around in a car for up to 10 months, but have declined to release her name. Investigators are referring to the woman only as "Signe,"...Tags: Vehicles
-
Mummified body was Laguna Hills woman
COSTA MESA — Signe Margit, 59, of Laguna Hills has been identified as the woman whose mummified remains were found in the passenger seat of a car last week in Costa Mesa. The corpse, covered in a pile of clothing, apparently had been driven...Tags: Vehicles
-
Mummified woman had trained as teacher
COSTA MESA — A homeless woman whose mummified remains were found in a car parked illegally in Costa Mesa last week worked in education in Los Angeles and held two master's degrees, according to police interviews with relatives and a review of public...Tags: Colleges and Universities, California, Costa Mesa, Los Angeles Unified School District, Family
-
Crashed plane pulled from Back Bay
NEWPORT BEACH — After five days of surfing and Mexican food, the three buddies from the South Bay were flying home from Scorpion Bay, a world-class surf break on the Baja Peninsula.
They had eaten a roasted pig with other intrepid travelers,...Tags: John Wayne, Emergency Planning, Disasters and Accidents, California, Calexico (Imperial, California)
-
Report: Beechcraft Musketeer ran out of fuel
Federal investigators found that the small plane that crashed in Newport Beach's Back Bay and killed three people in November ran out of fuel, confirming earlier speculation.
The private pilot, who was flying home from a surf trip in Baja, refueled in...Tags: John Wayne, Emergency Planning, Disasters and Accidents, Crime, Law and Justice, Transportation
-
'Babe' has her babies
It appears that the bobcat known as "Babe," who was believed to be pregnant and who had been seen roaming Newport Beach's Dover Shores neighborhood in recent weeks, has given birth.
This photograph of a bobcat presumed to be Babe with her cubs in tow...Tags: Newport Beach
-
O.C. voters head to polls today
Voters will head to the polls today to select candidates in political parties for the Nov. 2 election as well as vote on a slate of state propositions. Polls in Orange County open at 7 a.m. and close at 8 p.m. To find polling places in your...Tags: U.S. Senate, Referenda, Gaming, Costa Mesa, Elections
-
Mailbag: Politicians: the best get-rich-quick scheme
Chuck Cassity wonders what other laws besides those regarding immigration he can break without fear of prosecution from the government and become rich in the process ("Sounding Off: Selective attention and the law," July 30). Here are some, Chuck:...Tags: Criminal Laws, Real Estate Buyers, Justice System, Crime, Law and Justice, Lawyers
-
Designing a new career
Editor's note: This corrects an earlier version. The name of Lori Michelle Newman's start up company is Instyle Design.
NEWPORT BEACH — For former real estate agent Lori Michelle-Newman, moving to Newport Beach presented the perfect opportunity to...Tags: Colleges and Universities, Gaming, Entertainment, Newport Beach, House and Home
-
Greer's OC: Produce, jewelry, rugs, art
Shop local and organic in Huntington Beach at the Farmer's Market and Art A-Fair Fridays from noon to 5 p.m. Choose from the best in certified California grown produce, as well as hand-made jewelry, surf-inspired wall décor, rugs, gifts, original art...Tags: Barney's New York Incorporated, California, Laguna Beach, Special Olympics, Huntington Beach
-
Home tweet home: Agents turn to social media
Your real estate agent wants to be your friend. Not your bowling or bridge partner, or a confidante to phone after a particularly tough day, but your social media buddy, a person who will keep you up-to-speed with newsy updates and insider information...Tags: YouTube, Realty, Real Estate Buyers, Jefferson Park, Social Media
Oct 7, 2010
|Story| Daily Pilot
Oct 22, 2010
|Story| Daily Pilot
Oct 25, 2010
|Story| Daily Pilot
Oct 27, 2010
|Story| Daily Pilot
Nov 22, 2010
|Story| Daily Pilot
Dec 13, 2010
|Story| Daily Pilot
Jun 2, 2010
|Story| Daily Pilot
Jun 8, 2010
|Story| Daily Pilot
Aug 5, 2010
|Story| Daily Pilot
Jul 7, 2010
|Story| Daily Pilot
Jul 21, 2010
|Story| HB Independent
May 25, 2012
|Story| Chicago Tribune
Original site for Real Estate Agents topic gallery.
