One of the most complex and significant financial events in peoples’ lives is the purchase or sale of a home or investment property. Because of this complexity and significance, people typically seek the help of real estate sales associates when buying or selling real estate. At Coldwell Banker McMahan, we help you grow as an experienced sales associate, and back you up with the latest technology and lead management systems.
Sales Associates often work more than a standard 40-hour week. They usually work evenings and weekends and are usually on call to respond to the needs of clients. Although the hours are long and frequently irregular, most associates have the freedom to determine their own schedule. They can arrange their work so that they have time off when they want it.
Real estate sales associates need to have a thorough knowledge of the real estate market in their communities. They should know which neighborhoods will best fit clients’ needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Sales associates also act as intermediaries in price negotiations between buyers and sellers.
Sales associates spend a significant amount of time looking for properties to sell. They obtain listings—agreements by owners to place properties for sale with the firm. When listing a property for sale, sales associates compare the listed property with similar properties that recently sold, in order to determine a competitive market price for the property. Following the sale of the property, both the sales associate who sold it and the sales associate who obtained the listing receive a portion of the commission. Thus, sales associates who sell a property that they themselves have listed can increase their commission.
Sales associates may meet several times with prospective buyers to discuss and visit available properties. They will identify and emphasize the most pertinent selling points. To a young family looking for a house, for example, they may emphasize the convenient floor plan, the area’s low crime rate, and the proximity to schools and shopping. To a potential investor, they may point out the tax advantages of owning a rental property and the ease of finding a renter. If bargaining over price becomes necessary, sales associates must follow their client’s instructions carefully and may have to present counteroffers to get the best possible price.
Once the buyer and seller have signed a contract, the real estate sales associate must make sure that all special terms of the contract are met before the closing date. The associate must make sure that any legally mandated or agreed-upon inspections take place. In addition, if the seller agrees to any repairs, the sales associate ensures they are made. Loan officers, attorneys, or other people handle many details, but the sales associate must ensure that they are carried out.
Advances in technology and the ability to retrieve data about properties via the Internet allow many real estate sales associates to work out of their homes instead of real estate offices. Even with this convenience, sales associates spend much of their time away from their desks—showing properties to customers, analyzing properties for sale, meeting with prospective clients, or researching the real estate market. At Coldwell Banker McMahan, we make sure that you are always one step ahead of the market, and provide you the tools to help you promote and manage your business.
For more information, contact Lesley DePaola, our Career Development Director at (502) 418-9236 or firstname.lastname@example.org.
For more information, visit the Indiana Real Estate Commission’s website.
Kentucky Licensing Requirements
The requirements for a Kentucky real estate license include:
Be 18 years of age;
Have attained a high school diploma or GED;
Completed all real estate pre-license courses prior to taking the real estate examination;
Complete FBI criminal background check; and
Must apply within sixty (60) days of passing their exam.
All applicants must also:
Have completed either six (6) credit hours in real estate courses from an accredited college or ninety-six (96) classroom hours in real estate classes from an approved proprietary school; and
Take and pass the Kentucky Sales Associate exam.
For more information, visit the Kentucky Real Estate Commission’s website.