Real Estate, Sales / Business Development

Real Estate Agent

Overview

A real estate agent helps clients buy, sell, and rent properties. They must be knowledgeable about the real estate market and laws, as well as be skilled at negotiating and communicating with clients.

The main responsibilities of a real estate agent include identifying potential properties or clients, marketing properties for sale or rent, conducting property viewings, negotiating contracts and prices, coordinating inspections and appraisals, and ensuring that all legal and financial requirements are met. Real Estate Agents must also maintain accurate records of all transactions and interactions with clients.

Common tasks 

    TaskRelated trait(s)
    Prospecting for clients and marketing properties Emotional intelligence – Understanding customers and others Analytical thinking Conscientiousness
    Conducting property showings Calmness  Social Boldness – Approaching customers and others Emotional intelligence – Understanding customers and others
    Provide accurate information about the property and the surrounding area Conscientiousness
    Negotiating contracts and pricing Calmness  Social Boldness – Approaching customers and others
    Coordinating property inspections and appraisals and determine pricing Conscientiousness
    Provide guidance and support throughout the transaction process Conscientiousness Emotional intelligence – Understanding customers and others
    Keeping up-to-date with developments in the field Conscientiousness
    Complying with law and regulations Teamplayer Respect for rules
    Maintaining records of transactions and client interactions Conscientiousness
    Networking within the real estate industry to identify opportunities Social Boldness – Approaching customers and others Emotional intelligence – Understanding customers and others

    Soft skills measured by TraitForward

    TraitNo of QuestionsCronbach’s  alpha (α)
    Conscientiousness70.73
    Do they have a desirable work ethic?
    Calmness70.80
    Are they calm? Do they respect others?
    Positive Expressivity – Fairness70.75
    Are they honest and fair?
    Social Boldness – Approaching customers and others50.76
    Do they feel comfortable approaching others and taking charge in order to accomplish their tasks?
    Emotional intelligence – Understanding customers and others70.77
    Do they understand what makes people tick?
    Activity level60.72
    Are they active people, do they feel comfortable being on the go?
    Analytical thinking50.76
    Do they look at the facts before they make a decision?
    Teamplayer Helping Others60.75
    Do they like helping others?
    Teamplayer Positive group practices90.72
    Do they like being included in a group?
    Teamplayer Respect for rules90.74
    Do they follow rules?
    *Cronbach’s alpha coefficient (α) determines the extent to which the questions consistently measure each trait and it is expressed as a number ranging between 0 and 1 . Higher values indicate higher agreement between questions.  A value of α equal to greater than .7 indicates acceptable reliability or internal consistency.  For more information on the psychometric properties of the solution, please click here.

    Did you Know?

    Source: US Department of Labor – Bureau of Labor Statistics

    Median wage: 

    $48,340 / per year

    $23 / hour

    The median annual wage for this profession is $48,340. Nonetheless several professionals may not be paid in that rate. A relatively low salary the 10th percentile of the annual wage is $28,270, whilst a relatively high salary, the 90th percentile of the annual wage is $102,170.

    Expected employment growth:

    Number (in thousands in 2021): 438.9

    Number (in thousands in 2031): 462

    Employment percent change: 5.3

    Entry Education level:

    To become a real estate agent, one typically needs to complete pre-licensing education, pass a state real estate exam, and obtain a license to practice. Real Estate Agents must have excellent communication, negotiation, and interpersonal skills to build relationships with clients and close sales. They must also have strong organizational and time-management skills to manage their schedule and meet client needs. Finally, Real Estate Agents must be self-motivated, persistent, and able to work independently while representing the brokerage firm or themselves in a professional manner.

    Find out the psychometric properties for the Real Estate Agent Traitforward questionnaire

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