BLS Occupational Outlook Handbook, 2008-09 Edition

BLS Occupational Outlook Handbook, 2008-09 Edition
Significant Points
  • Real estate brokers and sales agents often work evenings and weekends and usually are on call to suit the needs of clients.
  • A license is required in every State and the District of Columbia.
  • Although gaining a job may be relatively easy, beginning workers face competition from well-established, more experienced agents and brokers.
  • Employment is sensitive to swings in the economy, especially interest rates; during periods of declining economic activity and rising interest rates, the volume of sales and the resulting demand for sales workers fall.

 

Nature of the Work

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 brokers and sales agents when buying or selling real estate. (View More)

 

Training, Other Qualifications, and Advancement

In every State and the District of Columbia, real estate brokers and sales agents must be licensed. Prospective agents must be high school graduates, be at least 18 years old, and pass a written test. (View More)

Employment

In 2006, real estate brokers and sales agents held about 564,000 jobs; real estate sales agents held approximately 77 percent of these jobs. (View More)

Job Outlook

Average employment growth is expected because of the increasing housing needs of a growing population, as well as the perception that real estate is a good investment. Beginning agents and brokers face competition from their well-established, more experienced counterparts. (View More)

Earnings

The median annual earnings, including commissions, of salaried real estate sales agents were $39,760 in May 2006. The middle 50 percent earned between $26,790 and $65,270 a year. (View More)

Information from Bureau of Labor Statistics

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