If you’re curious about the daily routine of a real estate agent, it’s likely because you’re seriously considering a career in the field. You’re not alone. As reported by The New York Times, “how to become a real estate agent” was the most popular job-related online search in 2021.
Before diving into the specifics, it’s important to note that no two days in the life of a real estate agent are alike, which many find appealing. The real estate industry offers a variety that keeps things interesting.
Of course, your day as a real estate agent will vary depending on the niche you choose. Are you interested in residential real estate, working with individuals and families pursuing the American dream of homeownership? Or perhaps you prefer commercial real estate, brokering deals between office space landlords and business entities? There are countless niches within the real estate world, and your choice will determine the nature of your typical day.
For the purpose of this article, let’s focus on residential real estate.
What Does a Residential Real Estate Agent Do All Day?
To understand the daily activities of a residential real estate agent, let’s start by identifying their main responsibility: assisting individuals with buying, selling, renting, or leasing property.
Achieving this involves a range of predictable and ongoing tasks, although their order and timing may vary. Here’s a brief list of the major responsibilities that real estate agents handle regularly:
- Lead generation
- Administrative duties
- Brokerage meetings
- Client meetings
- Continuing education
Now, let’s delve into each of these in more detail.
All other tasks on the agent’s to-do list depend on having clients. Therefore, lead generation is rightfully considered a top priority. For beginners, this can be accomplished by building a network through a “sphere of influence” strategy. They focus on people they already know, such as friends, family, neighbors, and social contacts. Since most people will go through a real estate transaction at some point in their lives, almost anyone can be a potential client.
Building and expanding a network is an ongoing effort throughout an agent’s career. They must continue adding leads while nurturing existing contacts through follow-up phone calls, emails, texts, newsletters, and more. The goal is to keep their name at the forefront of clients’ minds.
While it’s unlikely for an agent to dedicate an entire day to lead generation, they do allocate time for it almost every day.
When people think about how real estate agents spend their days, administrative duties don’t often come to mind. However, as independent contractors and essentially their own bosses, agents need to “mind their own business.” This entails taking care of tasks such as:
- Data entry
- Customer service
These tasks can accumulate and consume a significant amount of time. As agents progress in their careers, a milestone is reached when their business thrives enough to hire support staff who can handle these administrative functions. Until then, agents must dedicate a certain amount of time each day to ensuring these critical tasks are taken care of.
Real estate agents operate as members of a brokerage, working under the supervision or sponsorship of a broker. Whether they primarily work from their own home or use a dedicated desk at the brokerage office, they attend regular office meetings. These meetings serve to share information about new listings, changes in listing prices, and the needs of buyer clients. This timely and critical information helps agents connect the right buyers and sellers. It also helps them stay informed about market conditions.
Meetings with clients are the heart and soul of a real estate agent’s life. This is where agents prefer to spend their time each day. The nature of these meetings depends on where the client is in the transaction timeline.
If the client is a prospect wondering if the agent is the right fit to represent them in selling their home, the meeting is likely a listing presentation. During this meeting, the agent presents their sales strategy and discusses how the client’s home fits into the current market.
Once the agent wins them over, another meeting is scheduled to stage the client’s home, take photos and videos, and prepare for marketing the property. This is followed by more meetings to discuss offers from buyers, culminating in a final series of meetings associated with completing a sales transaction.
On the buyer side, meetings follow a similar timeline. The agent initially meets with the buyer to sell themselves, explaining how they will protect the buyer’s interests throughout any transaction. Once the agency relationship is established, meetings focus on educating the buyer about the market and accompanying them on property tours. These events lead to meetings centered around crafting offers on a property, followed by meetings associated with closing a sale, if successful.
To maintain an active license, real estate agents are required to pursue continuing education. The specific requirements and deadlines vary from state to state, but the need to fulfill this responsibility proactively remains constant. Real estate professionals must ensure that their income-generating activities are not disrupted by neglecting this requirement.
Beyond state-required education, most agents set aside time to pursue certifications and designations that enhance their marketability. Continuing education, whether elective or mandatory, is an inevitable part of a real estate agent’s life. It is usually handled as periodic tasks with dedicated time allotted on the agent’s calendar.
Tick-tock — It’s Real Estate O’Clock!
As mentioned earlier, no two days are the same for real estate agents, and plans can change at a moment’s notice. Most agents understand this and have the flexibility to adapt as needed. However, they usually have a general plan for how the day will unfold.
Here’s an example of a day in the life of a real estate agent:
So, that’s a glimpse into the life of a real estate agent. Perhaps today is the day you decide to make it your life!
If you need assistance, Garrity Traina is here to help!