What Does a Real Estate Agent Do?

What Is a Real Estate Agent?

Real estate agents help people buy, sell, and rent homes, land, and other properties. There’s no national real estate license, so agents must meet their state’s licensing requirements.

While the requirements vary by state, all aspiring agents must take a pre-licensing course from an accredited real estate school, take (and pass) their state exam, activate their license, and join a real estate brokerage.

That last part is important. Agents must work for and under the umbrella of a licensed broker, who ensures that all of the agents in the office comply with real estate laws and regulations.

Some agents eventually become brokers, which involves additional educational and experience requirements. Brokers typically have more responsibilities, can work independently, and hire agents to work for them.

What Is a Realtor?

Many people use the terms Realtor, real estate agent, and broker interchangeably, but the terms differ. Agents and brokers hold different licenses, and only brokers can work independently.

Still, both agents and brokers can use the title Realtor, but they must be active members of the National Association of Realtors (NAR) to do so. The biggest distinction between a Realtor and an agent or broker is that Realtors are members of the NAR and subscribe to the NAR’s strict Code of Ethics.1

Real Estate Agent Administrative Duties

So what does a typical day look like for a real estate agent?

Agents are tasked with a multitude of daily duties and responsibilities, from lead generation and marketing to open houses and property closings. Still, many agents start their days catching up on administrative tasks, so they might:

Respond to texts, emails, and phone calls
Process real estate documents, agreements, and lease records
Coordinate appointments, showings, open houses, and meetings
Create and distribute flyers, newsletters, listings, and other promotional materials
Create budgets for monthly, quarterly, and annual operations
Develop marketing plans for listings
Update client databases
Research listings to develop comparative market analysis (CMA) reports
Update websites and social media profiles

Because administrative duties can be very time-consuming, many agents hire an assistant to handle these day-to-day tasks. This allows the agent to leverage their time more effectively and to ultimately be more productive.

Real Estate Lead Generation

Without buyers and sellers, there would be no transactions—and no commissions. Finding clients is central to an agent’s success.

One way to build contacts is through a real estate sphere of influence (SOI) strategy, which focuses on generating leads through the people who the agent already knows. That can include family, friends, neighbors, classmates, business associates, and social contacts.

Most people sell, buy, or rent property at some point in their lives—which means every person who an agent meets is a potential client. A real estate agent’s day often includes meeting with lots of people, giving out business cards, and keeping track of contact information for a growing network. And after that first contact is made, agents follow up with periodic phone calls, emails, regular mail, or text messages to keep their name fresh in the minds of their potential clients.

Working With Real Estate Sellers

Afternoons are often spent working directly with (or on behalf of) clients—and helping them navigate what is typically a pretty complex process.

“Clients are often making their most important financial decision to date,” says Todd Kaderabek, a residential broker associate with Beverly-Hanks & Associates Realtors in Asheville, N.C. “Buying a home is a big investment. Selling a home is a milestone investment opportunity. It’s important that there be no surprises after closing.”

Of course, real estate agents typically represent one side of the real estate transaction: working with either sellers or buyers. Seller’s agents (aka listing agents) help clients find ready and willing buyers for their properties. On any given day, a seller’s agent might:

Meet with potential clients
Set listing prices
Prepare listing presentations
Take digital photographs of properties
Market property listings (including entering them into the local multiple listing service [MLS])
Make suggestions for property updates
Stage homes so they show at their best
Host open houses
Vet potential buyers
Negotiate various aspects of the sale

Working With Real Estate Buyers

Agents who work with buyers find properties that match their clients’ requirements and price range. On a typical day, a buyer’s agent might:

Comb through the local MLS to find appropriate properties
Scout houses online and in person
Share information with clients about the local area and housing market
Send listings to potential buyers
Show properties
Ensure clients are pre-approved for a mortgage
Submit bids and negotiate on the buyer’s behalf
Set up home appraisals and inspections
Guide clients through the contracts, agreements, and other documents
Accompany clients to inspections, loan meetings, closings, and other activities where their presence is either required or requested

Working with buyers often involves more time because of the sheer number of options in the local real estate market.

“It’s especially time-consuming on the buyer side,” says Kaderabek. “We have various strategies to narrow criteria for buyers, which is honestly more helpful for buyers than it is for us. Focus is key. You’re not going to find the perfect house. Let’s find that 95% house. Managing FOMO [fear of missing out] is also a challenge. There’s always another house out there.”

Meetings and Tours

Because real estate agents work for designated brokers, they typically operate out of an office with other real estate agents and brokers. Regular office meetings allow agents to share their new listings, update other agents on price changes, and discuss buyers’ needs—all of which can help agents line up buyers and sellers.

Some agents participate in MLS tours to view a number of new listings each week or each month. This can help agents narrow the search for a buyer, since they have seen the properties firsthand and can share detailed information with buyers.

Likewise, a MLS tour can be beneficial to agents who are working with sellers. After seeing the competition, it may be easier to determine a good listing price for the seller’s property.

Continuing Education, Certifications, and Designations

Real estate agents must be licensed in the state where they do business, and they are required to earn continuing education credits to maintain active license status.2

Most agents also pursue real estate certifications and designations to improve their credentials and marketability. Although earning and maintaining a license, certification, or designation isn’t part of an agent’s daily schedule, it can be part of an overall plan to improve skills, proficiency, knowledge, and marketability.

Real Estate During COVID-19

The COVID-19 pandemic significantly affected the U.S. residential real estate market during the spring of 2020. According to a report from the Federal Reserve Bank of St. Louis, “Because of health concerns, stay-at-home orders, and economic uncertainty, many metro areas experienced a noticeable drop in home sales.”3

During April and May of 2020, home sales dropped to their lowest levels since the financial crisis that began in 2007. However, home sales had rebounded by summer, with many areas experiencing a surprising boom.4

Through it all, real estate agents (like everyone else) have had to adapt to ever-changing conditions.

“COVID initially shut us down, so that was a big change,” says Kaderabek. “The industry lobbied to have [real estate agents] declared essential workers, and we remain grateful for that effort. Both buyers and sellers sign a declaration stating if they’ve traveled outside the area or have been in contact with people with symptoms. We install sanitation stations in our listings, everyone wears masks, and gloves are now optional but provided. All that said, we had the biggest year in the history of the company—and that’s coming off a record 2019.”

The Bottom Line

Real estate agents balance their time between administrative duties and income-producing activities. In general, agents can expect on any given day to spend time at the office, meet with clients, show homes, and negotiate on behalf of clients.

Still, most agents have a long and varied list of daily duties and responsibilities that can change with little or no notice. As a result, there may be no such thing as a typical day in the life of a real estate agent—an aspect of the job that many agents find attractive.

For Kaderabek, it’s all about working with clients. “Most rewarding is seeing buyers in their new home—no question. Also, sellers beaming when they’re handed a check at closing. Making people happy is what drives this business.”