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Real Estate Agents and Salespersons
What they do?
Real estate agents and salespersons perform some or all of the following duties:
A. Solicit property sales listings from prospective vendors
B. Assist vendors in selling property by establishing asking price, advertising the property, listing the property with listing services and conducting open houses for prospective buyers
C. Assist prospective buyers in selecting, visiting, inspecting and making offers of purchase on real estate properties
D. Advise clients on market conditions, prices, mortgages, legal requirements and related matters
E. Draw up sales agreements for approval of purchaser and seller
F. May rent or lease properties on behalf of clients.
G. Real estate agents and salespersons may specialize in residential, commercial, industrial/institutional or rural real estate sales.
What education do I need?
1. You must have a high school diploma and a real estate training course.
2. You need a licence in the province/territory where you'll work.
3. You may operate independently by obtaining a broker's licence according to the regulations in your province/territory.
4. You need a broker's licence to become a real estate manager.
5. Most recent entrants have an undergraduate university degree.
High School Subject that will help:
1. Math
2. Computer-related courses
3. Business English
What can you expect to make:
The average hourly wages for Real Estate Agents and Salespersons is $17.12/HR, which is above average for occupations in the sale and service sector and are close to the average for all technical, professional, and skilled occupations. These wages grew at an average rate from 2002 to 2004.
Average Wage
Expected Wage by Age
Unemployment:
1% of Real Estate Agents and Salespersons are unemployed. This rate is below the average for technical, professional, and skilled occupations.
Unemployment
Trends in Unemployment
Current Job Outlook:
The job outlook for Real Estate Agents and Salespersons is considered Average because:
1. Employment grew at an above-average rate.
2. The retirement rate is above average, and the number of retiring workers contributes to job openings.
3. Hourly wages ($17.12) are close to the average ($18.07), and the rate of wage growth is close to the average.
4. The unemployment rate (1%) is below the 2004 average (7%).
Future Job Prospects:
Your job outlook will continue to be Average because:
1. The employment growth rate will likely be average even though low interest rates and tax cuts should result in more affordable housing.
2. The retirement rate will likely be above average and the number of retiring workers should contribute to job openings.
3. The number of job seekers will likely match the number of job openings.
Highest Concetration:
The highest concentrations (per 10,000 people) of Real Estate Agents and Salespersons are found in Ontario and British Columbia while the lowest concentrations are in Prince Edward Island and Newfoundland.
Unionization Rate:
The unionization rate (33%) is close to the average (32%) for all occupations.
Useful Experience:
1. Communication skills
2. Selling
3. Negotiating
Part Time Workers
Part time workers:
14% of Real Estate Agents and Salespersons are employed only on a part-time basis. There were 67,100 workers employed in these occupations in 2004, an increase of 11% since 1997.
Age Demographics
Age Demographics:
The relatively low percentage of younger workers suggests few entry-level job openings, and could point to a greater need for workers with experience or a number of years of training. The older-than-average age (45) of worker will likely result in an above-average retirement rate to 2009.
