Real Estate Agent: What is the cost of hiring?

Why hire a real estate agent?

The need for new staff can affect both your existing team and your bottom line. A great real estate agent hire can help your business:

• Advise clients about new listings, mortgage options and neighborhood options
• Organize and oversee open houses
• Actively market real estate to attract leads from a variety of sources

Deciding between a full-time vs freelance real estate agent

Real estate is different from many fields in that real estate agents are generally considered independent contractors, even when they work exclusively for a particular broker. That means most of your real estate agents aren’t actual employees of your real estate company. As independent contractors, they have more flexibility in when and how they work.

Some licensed real estate agents may qualify as full-time employees. The main indicator is how they’re paid. Anyone who receives pay based on hours worked is generally considered an employee. Real estate agents who earn based on services provided, such as receiving commissions for sales, are considered independent contractors. Some brokers hire licensed real estate agents as assistants and pay them an hourly wage, which makes them an employee.

What are the types of real estate agents?

Licensed real estate agents sometimes focus on a particular part of the selling or buying process. They can also become a broker. Some types of real estate agents are:

• Buyer’s agent: This type of agent works only with the buyer. Some real estate agents serve as both buyers’ agents and sellers’ agents in different real estate transactions. Others focus on one or the other. When serving as a buyer’s agent, the agent helps with finding a property, navigating financing and negotiating the best deal possible.
• Seller’s agent: The seller’s agent helps the seller optimize the property and market it to get the highest price possible. 
• Dual agent: In some real estate transactions, the same agent represents the buyer and seller. Some states don’t allow dual agents.
• Real estate broker: A real estate agent can continue education and take the real estate broker exam. This allows them to work independently or start their own brokerage, unlike a real estate agent, who must be associated with an established brokerage.
• Realtor: Only licensed agents who are members of the National Association of Realtors can call themselves Realtors. It simply indicates membership in the organization.

Where to find real estate agents

To find the right real estate agent for your business, consider trying out a few different recruiting strategies:

• Ask for referrals. Offer an incentive to your current agents who refer a new real estate agent to your brokerage.
• Promote from within. Encourage your assistants or other staff members to earn a real estate license and become an agent. If you have an employee who’s already licensed, offer a real estate agent position to that person.
• Join organizations. Being an active participant in real estate organizations allows you to meet real estate professionals who might make a good addition to your team.
• Participate in industry events. Register for real estate conferences and continuing education opportunities to meet current agents who might want to work for you.
• Post your job online. Try posting your real estate agent job on Indeed to find and attract quality real estate agent candidates.

Skills to look for in a great Real Estate Agent

A great Real Estate Agent candidate will have the following skills and attributes as well as work experience that reflects:

• Experience with client relationship manager (CRM) software
• Real estate license
• Friendly personality
• Excellent written and verbal communication skills
• Comfortable speaking to groups
• Great project-management skills

Writing a real estate agent job description

A thoughtful description is important to finding qualified real estate agent candidates. A real estate agent job description includes a compelling summary of the role, a detailed list of duties and responsibilities and the required and preferred skills for the position.

When writing your real estate agent job description, consider including some or all of the following keywords to improve the visibility of your job posting . These are the most popular search terms leading to clicks on real estate agent jobs, according to Indeed data:

• Real estate
• Real estate agent
• Remote work from home
• Sales
• Realtor
• Real estate assistant
• Real estate broker
• Sales representative

Interviewing real estate agent candidates

Strong candidates for real estate agent positions will be confident answering questions regarding:

• Creating and maintaining a client book
• Searching for and maintaining MLS listings
• Preparing a home for showing, selling or listing

Need help coming up with interview questions? See our list of real estate agent interview questions for examples (with sample answers).